Canada: Market for Sweet Biscuits, Waffles and Wafers 2024

Market Size for Sweet Biscuits, Waffles and Wafers in Canada

The Canadian market for sweet biscuits, waffles and wafers fell to $X in 2021, with a decrease of -14.6% against the previous year. Overall, the total consumption indicated a slight expansion from 2012 to 2021: its value increased at an average annual rate of +1.5% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. As a result, consumption attained the peak level of $X. From 2018 to 2021, the growth of the market remained at a lower figure.

Production of Sweet Biscuits, Waffles and Wafers in Canada

In value terms, sweet biscuit, waffle and wafer production fell slightly to $X in 2021 estimated in export price. The total output value increased at an average annual rate of +1.9% from 2012 to 2021; the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The most prominent rate of growth was recorded in 2017 when the production volume increased by 25%. Over the period under review, production hit record highs at $X in 2020, and then dropped slightly in the following year.

Exports of Sweet Biscuits, Waffles and Wafers

Exports from Canada

In 2021, exports of sweet biscuits, waffles and wafers from Canada soared to X tons, growing by 16% on the year before. Over the period under review, exports recorded a relatively flat trend pattern. As a result, the exports reached the peak and are likely to continue growth in the immediate term.

In value terms, sweet biscuit, waffle and wafer exports surged to $X in 2021. The total export value increased at an average annual rate of +2.3% from 2012 to 2021; the trend pattern remained consistent, with only minor fluctuations in certain years. As a result, the exports attained the peak and are likely to continue growth in the immediate term.

Exports by Country

The United States (X tons) was the main destination for sweet biscuit, waffle and wafer exports from Canada, with a approx. 98% share of total exports.

From 2012 to 2021, the average annual growth rate of volume to the United States was relatively modest.

In value terms, the United States ($X) also remains the key foreign market for sweet biscuits, waffles and wafers exports from Canada.

From 2012 to 2021, the average annual growth rate of value to the United States stood at +3.2%.

Export Prices by Country

The average export price for sweet biscuits, waffles and wafers stood at $X per ton in 2021, with an increase of 5.5% against the previous year. Over the period from 2012 to 2021, it increased at an average annual rate of +2.1%. The growth pace was the most rapid in 2018 when the average export price increased by 8.4% against the previous year. Over the period under review, the average export prices reached the maximum at $X per ton in 2019; however, from 2020 to 2021, the export prices failed to regain momentum.

As there is only one major export destination, the average price level is determined by prices for the United States.

From 2012 to 2021, the rate of growth in terms of prices for the United States amounted to +2.7% per year.

Imports of Sweet Biscuits, Waffles and Wafers

Imports into Canada

In 2021, approx. X tons of sweet biscuits, waffles and wafers were imported into Canada; standing approx. at 2020 figures. Overall, imports posted a notable increase. The most prominent rate of growth was recorded in 2018 with an increase of 171% against the previous year. Imports peaked at X tons in 2019; however, from 2020 to 2021, imports failed to regain momentum.

In value terms, sweet biscuit, waffle and wafer imports totaled $X in 2021. The total import value increased at an average annual rate of +2.8% over the period from 2012 to 2021; however, the trend pattern remained consistent, with only minor fluctuations being recorded throughout the analyzed period. The pace of growth was the most pronounced in 2014 with an increase of 12% against the previous year. Over the period under review, imports hit record highs in 2021 and are likely to see steady growth in the immediate term.

Imports by Country

In 2021, the United States (X tons) constituted the largest sweet biscuit, waffle and wafer supplier to Canada, with a 48% share of total imports. Moreover, sweet biscuit, waffle and wafer imports from the United States exceeded the figures recorded by the second-largest supplier, Mexico (X tons), fourfold. Italy (X tons) ranked third in terms of total imports with a 4.4% share.

From 2012 to 2021, the average annual growth rate of volume from the United States was relatively modest. The remaining supplying countries recorded the following average annual rates of imports growth: Mexico (+44.8% per year) and Italy (+4.2% per year).

In value terms, the United States ($X) constituted the largest supplier of sweet biscuits, waffles and wafers to Canada, comprising 42% of total imports. The second position in the ranking was held by Mexico ($X), with a 9% share of total imports. It was followed by the UK, with a 6.1% share.

From 2012 to 2021, the average annual growth rate of value from the United States was relatively modest. The remaining supplying countries recorded the following average annual rates of imports growth: Mexico (+42.7% per year) and the UK (-0.4% per year).

Import Prices by Country

The average import price for sweet biscuits, waffles and wafers stood at $X per ton in 2021, increasing by 11% against the previous year. Over the period under review, the import price recorded a relatively flat trend pattern. The most prominent rate of growth was recorded in 2015 when the average import price increased by 118% against the previous year. The import price peaked at $X per ton in 2016; however, from 2017 to 2021, import prices remained at a lower figure.

There were significant differences in the average prices amongst the major supplying countries. In 2021, amid the top importers, the country with the highest price was France ($X per ton), while the price for Spain ($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 (+5.8%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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