Chile: Waffle And Wafer Market 2024

Waffle And Wafer Market Size in Chile

In 2021, the Chilean waffle and wafer market decreased by -2.2% to $X for the first time since 2017, thus ending a three-year rising trend. Over the period under review, the total consumption indicated a noticeable increase from 2012 to 2021: its value increased at an average annual rate of +4.0% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, consumption increased by +79.6% against 2017 indices. Over the period under review, the market attained the maximum level at $X in 2020, and then fell modestly in the following year.

Waffle And Wafer Production in Chile

In value terms, waffle and wafer production fell to $X in 2021 estimated in export price. In general, the total production indicated a slight expansion from 2012 to 2021: its value increased at an average annual rate of +1.3% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, production increased by +66.7% against 2017 indices. The pace of growth appeared the most rapid in 2019 with an increase of 26%. Over the period under review, production reached the maximum level at $X in 2020, and then shrank in the following year.

Waffle And Wafer Exports

Exports from Chile

In 2021, overseas shipments of waffles and wafers were finally on the rise to reach X tons after two years of decline. In general, exports, however, continue to indicate a deep contraction. Over the period under review, the exports attained the maximum at X tons in 2012; however, from 2013 to 2021, the exports stood at a somewhat lower figure.

In value terms, waffle and wafer exports amounted to $X in 2021. Over the period under review, exports, however, saw a abrupt decline. The most prominent rate of growth was recorded in 2018 when exports increased by 18%. The exports peaked at $X in 2012; however, from 2013 to 2021, the exports stood at a somewhat lower figure.

Exports by Country

Bolivia (X tons) was the main destination for waffle and wafer exports from Chile, accounting for a 63% share of total exports. Moreover, waffle and wafer exports to Bolivia exceeded the volume sent to the second major destination, Paraguay (X tons), fourfold. The third position in this ranking was taken by Panama (X tons), with a 5.6% share.

From 2012 to 2021, the average annual rate of growth in terms of volume to Bolivia amounted to +5.1%. Exports to the other major destinations recorded the following average annual rates of exports growth: Paraguay (-2.5% per year) and Panama (-8.8% per year).

In value terms, Bolivia ($X) remains the key foreign market for waffles and wafers exports from Chile, comprising 48% of total exports. The second position in the ranking was taken by Paraguay ($X), with a 23% share of total exports. It was followed by Colombia, with a 7.3% share.

From 2012 to 2021, the average annual rate of growth in terms of value to Bolivia totaled +19.2%. Exports to the other major destinations recorded the following average annual rates of exports growth: Paraguay (-3.1% per year) and Colombia (-18.6% per year).

Export Prices by Country

In 2021, the average waffle and wafer export price amounted to $X per ton, with a decrease of -17.7% against the previous year. In general, the export price recorded a slight decline. The most prominent rate of growth was recorded in 2020 when the average export price increased by 33%. Over the period under review, the average export prices reached the maximum at $X per ton in 2014; however, from 2015 to 2021, the export prices stood at a somewhat lower figure.

Prices varied noticeably country of destination: the country with the highest price was the Dominican Republic ($X per ton), while the average price for exports to Bolivia ($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 Ecuador (+15.4%), while the prices for the other major destinations experienced more modest paces of growth.

Waffle And Wafer Imports

Imports into Chile

In 2021, imports of waffles and wafers into Chile soared to X tons, rising by 65% against the year before. Over the period under review, imports enjoyed prominent growth. As a result, imports reached the peak and are likely to continue growth in the immediate term.

In value terms, waffle and wafer imports soared to $X in 2021. In general, imports saw significant growth. As a result, imports attained the peak and are likely to continue growth in the immediate term.

Imports by Country

In 2021, Brazil (X tons) constituted the largest waffle and wafer supplier to Chile, accounting for a 30% share of total imports. Moreover, waffle and wafer imports from Brazil exceeded the figures recorded by the second-largest supplier, Peru (X tons), twofold. Spain (X tons) ranked third in terms of total imports with an 11% share.

From 2012 to 2021, the average annual rate of growth in terms of volume from Brazil totaled +10.8%. The remaining supplying countries recorded the following average annual rates of imports growth: Peru (+181.6% per year) and Spain (+78.1% per year).

In value terms, Brazil ($X), Peru ($X) and Spain ($X) constituted the largest waffle and wafer suppliers to Chile, together comprising 50% of total imports.

Peru, with a CAGR of +184.4%, saw the highest growth rate of the value of imports, among 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 waffle and wafer import price stood at $X per ton in 2021, rising by 33% against the previous year. Over the period from 2012 to 2021, it increased at an average annual rate of +3.8%. As a result, import price reached the peak level and is likely to continue growth in the immediate term.

There were significant differences in the average prices amongst the major supplying countries. In 2021, the country with the highest price was Indonesia ($X per ton), while the price for Colombia ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Argentina (+8.2%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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