Belgium: Waffle And Wafer Market 2024

Waffle And Wafer Market Size in Belgium

In 2021, after nine years of growth, there was decline in the Belgian waffle and wafer market, when its value decreased by -1.9% to $X. Over the period under review, consumption posted a significant increase. Waffle and wafer consumption peaked at $X in 2020, and then reduced slightly in the following year.

Waffle And Wafer Production in Belgium

In value terms, waffle and wafer production amounted to $X in 2021 estimated in export price. Overall, production, however, recorded a perceptible contraction. Waffle and wafer production peaked at $X in 2012; however, from 2013 to 2021, production failed to regain momentum.

Waffle And Wafer Exports

Exports from Belgium

In 2021, approx. X tons of waffles and wafers were exported from Belgium; growing by 18% on the previous year. Overall, total exports indicated a buoyant increase from 2012 to 2021: its volume increased at an average annual rate of +5.3% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. The most prominent rate of growth was recorded in 2018 when exports increased by 23% 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, waffle and wafer exports soared to $X in 2021. In general, total exports indicated strong growth from 2012 to 2021: its value 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, exports increased by +75.8% against 2016 indices. As a result, the exports reached the peak and are likely to continue growth in the immediate term.

Exports by Country

France (X tons), the UK (X tons) and the Netherlands (X tons) were the main destinations of waffle and wafer exports from Belgium, with a combined 61% share of total exports. Germany, the United States, Spain, Japan, Australia, Slovenia and Luxembourg lagged somewhat behind, together accounting for a further 30%.

From 2012 to 2021, the biggest increases were recorded for Australia (with a CAGR of +26.6%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, France ($X), the Netherlands ($X) and the UK ($X) were the largest markets for waffle and wafer exported from Belgium worldwide, with a combined 56% share of total exports. The United States, Germany, Spain, Japan, Australia, Luxembourg and Slovenia lagged somewhat behind, together comprising a further 33%.

Australia, with a CAGR of +23.9%, recorded the highest growth rate of the value of exports, among the main countries of destination 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, increasing by 6.6% against the previous year. Over the period from 2012 to 2021, it increased at an average annual rate of +1.8%. The most prominent rate of growth was recorded in 2013 an increase of 26%. As a result, the export price reached the peak level of $X per ton. From 2014 to 2021, the average export prices remained at a lower figure.

There were significant differences in the average prices for the major overseas markets. In 2021, the country with the highest price was Luxembourg ($X per ton), while the average price for exports to Slovenia ($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 the Netherlands (+3.9%), while the prices for the other major destinations experienced more modest paces of growth.

Waffle And Wafer Imports

Imports into Belgium

For the third year in a row, Belgium recorded growth in supplies from abroad of waffles and wafers, which increased by 67% to X tons in 2021. Over the period under review, total imports indicated resilient growth from 2012 to 2021: its volume increased at an average annual rate of +5.1% 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 +90.1% against 2018 indices. As a result, imports attained the peak and are likely to continue growth in the immediate term.

In value terms, waffle and wafer imports soared to $X in 2021. Overall, total imports indicated a strong expansion from 2012 to 2021: its value increased at an average annual rate of +5.5% 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 +92.3% against 2019 indices. As a result, imports attained the peak and are likely to continue growth in the immediate term.

Imports by Country

The Netherlands (X tons), France (X tons) and Germany (X tons) were the main suppliers of waffle and wafer imports to Belgium, together accounting for 61% of total imports. These countries were followed by Poland, Turkey, Austria, the Czech Republic and Italy, which together accounted for a further 33%.

From 2012 to 2021, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by Turkey (with a CAGR of +31.4%), while imports for the other leaders experienced more modest paces of growth.

In value terms, the largest waffle and wafer suppliers to Belgium were the Netherlands ($X), France ($X) and Germany ($X), together accounting for 57% of total imports. These countries were followed by Poland, Turkey, Austria, Italy and the Czech Republic, which together accounted for a further 38%.

Turkey, with a CAGR of +37.7%, recorded the highest rates of growth with regard to 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

In 2021, the average waffle and wafer import price amounted to $X per ton, waning by -4.7% against the previous year. Over the period under review, the import price, however, continues to indicate a relatively flat trend pattern. The pace of growth appeared the most rapid in 2013 an increase of 11% against the previous year. The import price peaked at $X per ton in 2014; however, from 2015 to 2021, import prices remained at a lower figure.

Prices varied noticeably country of origin: the country with the highest price was Italy ($X per ton), while the price for the Czech Republic ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Turkey (+4.8%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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