Azerbaijan: Market for Gingerbread, Sweet Biscuits and Waffles 2024

Market Size for Gingerbread, Sweet Biscuits and Waffles in Azerbaijan

In 2022, the Azerbaijani market for gingerbread, sweet biscuits and waffles increased by 0.7% to $X, rising for the second consecutive year after two years of decline. The market value increased at an average annual rate of +3.9% over the period from 2012 to 2022; the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. Over the period under review, the market hit record highs at $X in 2018; however, from 2019 to 2022, consumption failed to regain momentum.

Production of Gingerbread, Sweet Biscuits and Waffles in Azerbaijan

In value terms, gingerbread, sweet biscuit and waffle production shrank slightly to $X in 2022 estimated in export price. The total output value increased at an average annual rate of +2.3% over the period from 2012 to 2022; the trend pattern indicated some noticeable fluctuations being recorded in certain years. The pace of growth appeared the most rapid in 2017 when the production volume increased by 36%. Gingerbread, sweet biscuit and waffle production peaked at $X in 2018; however, from 2019 to 2022, production stood at a somewhat lower figure.

Exports of Gingerbread, Sweet Biscuits and Waffles

Exports from Azerbaijan

In 2022, shipments abroad of gingerbread, sweet biscuits and waffles increased by 27% to X tons, rising for the seventh year in a row after two years of decline. Overall, exports continue to indicate a strong increase. The most prominent rate of growth was recorded in 2017 when exports increased by 334% against the previous year. The exports peaked in 2022 and are expected to retain growth in the near future.

In value terms, gingerbread, sweet biscuit and waffle exports skyrocketed to $X in 2022. In general, exports recorded a significant increase. The pace of growth appeared the most rapid in 2017 when exports increased by 540%. The exports peaked in 2022 and are likely to continue growth in the near future.

Exports by Country

Georgia (X tons) was the main destination for gingerbread, sweet biscuit and waffle exports from Azerbaijan, with a 52% share of total exports. Moreover, gingerbread, sweet biscuit and waffle exports to Georgia exceeded the volume sent to the second major destination, Yemen (X tons), threefold. The third position in this ranking was held by Iraq (X tons), with a 5.6% share.

From 2012 to 2022, the average annual growth rate of volume to Georgia amounted to +22.2%. Exports to the other major destinations recorded the following average annual rates of exports growth: Yemen (+60.8% per year) and Iraq (+13.9% per year).

In value terms, the largest markets for gingerbread, sweet biscuit and waffle exported from Azerbaijan were Georgia ($X), Yemen ($X) and Iraq ($X), with a combined 77% share of total exports. Kazakhstan, Uzbekistan, China, Israel, Mongolia, Moldova, Russia, Ukraine and Kyrgyzstan lagged somewhat behind, together accounting for a further 18%.

In terms of the main countries of destination, Mongolia, with a CAGR of +181.8%, saw the highest growth rate of 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

The average export price for gingerbread, sweet biscuits and waffles stood at $X per ton in 2022, rising by 33% against the previous year. In general, export price indicated a resilient expansion from 2012 to 2022: its price increased at an average annual rate of +8.3% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, gingerbread, sweet biscuit and waffle export price increased by +57.0% against 2020 indices. The most prominent rate of growth was recorded in 2013 an increase of 51%. Over the period under review, the average export prices hit record highs in 2022 and is expected to retain growth in years to come.

There were significant differences in the average prices for the major overseas markets. In 2022, amid the top suppliers, the country with the highest price was Kazakhstan ($X per ton), while the average price for exports to Kyrgyzstan ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Uzbekistan (+52.7%), while the prices for the other major destinations experienced more modest paces of growth.

Imports of Gingerbread, Sweet Biscuits and Waffles

Imports into Azerbaijan

Gingerbread, sweet biscuit and waffle imports into Azerbaijan was estimated at X tons in 2022, increasing by 8.4% on the previous year. Overall, imports showed prominent growth. The most prominent rate of growth was recorded in 2021 when imports increased by 24%. Imports peaked in 2022 and are expected to retain growth in the immediate term.

In value terms, gingerbread, sweet biscuit and waffle imports soared to $X in 2022. In general, imports enjoyed significant growth. The most prominent rate of growth was recorded in 2016 with an increase of 113%. Over the period under review, imports hit record highs in 2022 and are expected to retain growth in years to come.

Imports by Country

Iran (X tons), Russia (X tons) and Turkey (X tons) were the main suppliers of gingerbread, sweet biscuit and waffle imports to Azerbaijan, with a combined 86% share of total imports. Ukraine, Kazakhstan, Bulgaria and Poland lagged somewhat behind, together comprising a further 9.6%.

From 2012 to 2022, the biggest increases were recorded for Kazakhstan (with a CAGR of +47.9%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, Turkey ($X), Russia ($X) and Iran ($X) were the largest gingerbread, sweet biscuit and waffle suppliers to Azerbaijan, together accounting for 78% of total imports. Ukraine, Kazakhstan, Bulgaria and Poland lagged somewhat behind, together accounting for a further 14%.

Kazakhstan, with a CAGR of +62.5%, recorded the highest growth rate of the value of imports, in terms of the main suppliers over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

The average import price for gingerbread, sweet biscuits and waffles stood at $X per ton in 2022, picking up by 11% against the previous year. Overall, the import price enjoyed a strong increase. The pace of growth appeared the most rapid in 2016 when the average import price increased by 76%. Over the period under review, average import prices reached the maximum in 2022 and is likely to see gradual growth in years to come.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was Poland ($X per ton), while the price for Iran ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Poland (+24.2%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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