Bangladesh: Waffle And Wafer Market 2024

Waffle And Wafer Market Size in Bangladesh

After six years of growth, the Bangladeshi waffle and wafer market decreased by -1.7% to $X in 2021. Over the period under review, consumption, however, recorded a resilient expansion. Over the period under review, the market attained the maximum level at $X in 2020, and then fell in the following year.

Waffle And Wafer Production in Bangladesh

In value terms, waffle and wafer production declined to $X in 2021 estimated in export price. Over the period under review, production, however, posted a prominent expansion. The growth pace was the most rapid in 2015 when the production volume increased by 37%. Over the period under review, production attained the peak level at $X in 2020, and then declined in the following year.

Waffle And Wafer Exports

Exports from Bangladesh

For the fourth consecutive year, Bangladesh recorded growth in shipments abroad of waffles and wafers, which increased by 30% to X tons in 2021. Over the period under review, exports showed significant growth. The pace of growth was the most pronounced in 2016 when exports increased by 1,518% against the previous year. The exports peaked in 2021 and are expected to retain growth in years to come.

In value terms, waffle and wafer exports soared to $X in 2021. Overall, exports saw significant growth. The most prominent rate of growth was recorded in 2016 with an increase of 1,559%. The exports peaked in 2021 and are expected to retain growth in the immediate term.

Exports by Country

Saudi Arabia (X tons), New Zealand (X tons) and the United Arab Emirates (X tons) were the main destinations of waffle and wafer exports from Bangladesh, with a combined 73% share of total exports.

From 2012 to 2021, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by New Zealand (with a CAGR of +119.9%), while the other leaders experienced more modest paces of growth.

In value terms, Saudi Arabia ($X), New Zealand ($X) and Cambodia ($X) constituted the largest markets for waffle and wafer exported from Bangladesh worldwide, together accounting for 72% of total exports.

Among the main countries of destination, New Zealand, with a CAGR of +106.3%, recorded 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 waffle and wafer export price stood at $X per ton in 2021, with an increase of 17% against the previous year. Over the period from 2012 to 2021, it increased at an average annual rate of +3.7%. The pace of growth appeared the most rapid in 2013 an increase of 31%. The export price peaked at $X per ton in 2014; afterwards, it flattened through to 2021.

There were significant differences in the average prices for the major external markets. In 2021, the country with the highest price was Jordan ($X per ton), while the average price for exports to Fiji ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to Jordan (+23.6%), while the prices for the other major destinations experienced more modest paces of growth.

Waffle And Wafer Imports

Imports into Bangladesh

Waffle and wafer imports into Bangladesh skyrocketed to X tons in 2021, picking up by 77% against the previous year's figure. Overall, imports showed a significant expansion. The growth pace was the most rapid in 2017 when imports increased by 145%. Imports peaked in 2021 and are likely to see steady growth in the near future.

In value terms, waffle and wafer imports surged to $X in 2021. Over the period under review, imports continue to indicate a significant increase. The growth pace was the most rapid in 2017 when imports increased by 92%. Over the period under review, imports reached the peak figure in 2021 and are likely to see gradual growth in the immediate term.

Imports by Country

In 2021, India (X tons) constituted the largest waffle and wafer supplier to Bangladesh, accounting for a 60% share of total imports. Moreover, waffle and wafer imports from India exceeded the figures recorded by the second-largest supplier, the United Arab Emirates (X tons), threefold. Turkey (X tons) ranked third in terms of total imports with a 5.1% share.

From 2012 to 2021, the average annual rate of growth in terms of volume from India totaled +90.6%. The remaining supplying countries recorded the following average annual rates of imports growth: the United Arab Emirates (+17.5% per year) and Turkey (-1.4% per year).

In value terms, India ($X) constituted the largest supplier of waffles and wafers to Bangladesh, comprising 60% of total imports. The second position in the ranking was taken by the United Arab Emirates ($X), with a 17% share of total imports. It was followed by Indonesia, with a 5% share.

From 2012 to 2021, the average annual rate of growth in terms of value from India stood at +97.4%. The remaining supplying countries recorded the following average annual rates of imports growth: the United Arab Emirates (+21.9% per year) and Indonesia (-2.7% per year).

Import Prices by Country

The average waffle and wafer import price stood at $X per ton in 2021, declining by -15.8% against the previous year. In general, the import price recorded a relatively flat trend pattern. The pace of growth was the most pronounced in 2014 when the average import price increased by 34% against the previous year. As a result, import price reached the peak level of $X per ton. From 2015 to 2021, the average import prices failed to regain momentum.

Prices varied noticeably country of origin: the country with the highest price was Indonesia ($X per ton), while the price for Turkey ($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 (+3.7%), while the prices for the other major suppliers experienced mixed trend patterns.

Source: IndexBox Platform

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