Asia: Market for Sweet Biscuits, Waffles and Wafers 2024

Market Size for Sweet Biscuits, Waffles and Wafers in Asia

In 2021, the Asian market for sweet biscuits, waffles and wafers decreased by -0.4% to $X, falling for the second consecutive year after eight years of growth. The total consumption indicated a prominent expansion from 2012 to 2021: its value increased at an average annual rate of +6.8% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, consumption decreased by -10.3% against 2019 indices. The level of consumption peaked at $X in 2019; however, from 2020 to 2021, consumption stood at a somewhat lower figure.

Production of Sweet Biscuits, Waffles and Wafers in Asia

In value terms, sweet biscuit, waffle and wafer production expanded markedly to $X in 2021 estimated in export price. Over the period under review, production showed buoyant growth. The most prominent rate of growth was recorded in 2018 with an increase of 35% against the previous year. The level of production peaked at $X in 2019; however, from 2020 to 2021, production remained at a lower figure.

Exports of Sweet Biscuits, Waffles and Wafers

Exports in Asia

In 2021, approx. X tons of sweet biscuits, waffles and wafers were exported in Asia; surging by 8.6% on the year before. The total export volume increased at an average annual rate of +5.5% over the period from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The pace of growth was the most pronounced in 2013 when exports increased by 11% against the previous year. Over the period under review, the exports hit record highs in 2021 and are expected to retain growth in the near future.

In value terms, sweet biscuit, waffle and wafer exports reached $X in 2021. Total exports indicated a buoyant expansion from 2012 to 2021: its value increased at an average annual rate of +7.0% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, exports increased by +84.5% against 2012 indices. The most prominent rate of growth was recorded in 2013 when exports increased by 18%. The level of export peaked in 2021 and is likely to see gradual growth in years to come.

Exports by Country

Turkey (X tons) and Indonesia (X tons) represented roughly 53% of total exports in 2021. It was distantly followed by India (X tons), Malaysia (X tons) and the United Arab Emirates (X tons), together mixing up a 26% share of total exports. The following exporters - China (X tons), Thailand (X tons) and Saudi Arabia (X tons) - each reached a 9.4% share of total exports.

From 2012 to 2021, the biggest increases were recorded for Thailand (with a CAGR of +16.5%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, Turkey ($X), Indonesia ($X) and India ($X) constituted the countries with the highest levels of exports in 2021, with a combined 57% share of total exports. These countries were followed by Malaysia, the United Arab Emirates, Thailand, China and Saudi Arabia, which together accounted for a further 26%.

Among the main exporting countries, Thailand, with a CAGR of +14.7%, recorded the highest rates of growth with regard to the value of exports, over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

In 2021, the export price in Asia amounted to $X per ton, rising by 3.5% against the previous year. Over the last nine years, it increased at an average annual rate of +1.5%. The growth pace was the most rapid in 2015 an increase of 7.9%. The level of export peaked at $X per ton in 2016; however, from 2017 to 2021, the export prices failed to regain momentum.

Prices varied noticeably by country of origin: amid the top suppliers, the country with the highest price was Thailand ($X per ton), while India ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by the United Arab Emirates (+7.4%), while the other leaders experienced more modest paces of growth.

Imports of Sweet Biscuits, Waffles and Wafers

Imports in Asia

Sweet biscuit, waffle and wafer imports rose rapidly to X tons in 2021, increasing by 5.1% against 2020 figures. Total imports indicated a remarkable increase from 2012 to 2021: its volume increased at an average annual rate of +7.2% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, imports increased by +3.3% against 2018 indices. The most prominent rate of growth was recorded in 2013 when imports increased by 19%. Over the period under review, imports attained the peak figure in 2021 and are expected to retain growth in the immediate term.

In value terms, sweet biscuit, waffle and wafer imports expanded significantly to $X in 2021. Total imports indicated a resilient expansion from 2012 to 2021: its value increased at an average annual rate of +7.3% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. The pace of growth appeared the most rapid in 2013 when imports increased by 19% against the previous year. Over the period under review, imports hit record highs in 2021 and are expected to retain growth in years to come.

Imports by Country

Iraq (X tons), China (X tons), Yemen (X tons), Saudi Arabia (X tons), the United Arab Emirates (X tons), Kazakhstan (X tons), Thailand (X tons), Malaysia (X tons), the Philippines (X tons), Vietnam (X tons), Myanmar (X tons) and Israel (X tons) represented roughly 66% of total imports in 2021. South Korea (X tons) followed a long way behind the leaders.

From 2012 to 2021, the most notable rate of growth in terms of purchases, amongst the key importing countries, was attained by Myanmar (with a CAGR of +90.1%), while imports for the other leaders experienced more modest paces of growth.

In value terms, China ($X), Saudi Arabia ($X) and Iraq ($X) appeared to be the countries with the highest levels of imports in 2021, together comprising 32% of total imports. The United Arab Emirates, Vietnam, Thailand, South Korea, Yemen, Malaysia, the Philippines, Israel, Kazakhstan and Myanmar lagged somewhat behind, together comprising a further 36%.

Myanmar, with a CAGR of +78.0%, saw the highest growth rate of the value of imports, in terms of the main importing countries over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

In 2021, the import price in Asia amounted to $X per ton, growing by 5.4% against the previous year. Over the period under review, the import price recorded a relatively flat trend pattern. Over the period under review, import prices attained the peak figure at $X per ton in 2014; afterwards, it flattened through to 2021.

Prices varied noticeably by country of destination: amid the top importers, the country with the highest price was South Korea ($X per ton), while Yemen ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by the United Arab Emirates (+1.5%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform

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