China: Market for Sweet Biscuits, Waffles and Wafers 2024

Market Size for Sweet Biscuits, Waffles and Wafers in China

The Chinese market for sweet biscuits, waffles and wafers amounted to $X in 2021, surging by 2.4% against the previous year. In general, consumption recorded prominent growth. Sweet biscuit, waffle and wafer consumption peaked at $X in 2019; however, from 2020 to 2021, consumption stood at a somewhat lower figure.

Production of Sweet Biscuits, Waffles and Wafers in China

In value terms, sweet biscuit, waffle and wafer production stood at $X in 2021 estimated in export price. In general, production recorded resilient growth. The growth pace was the most rapid in 2014 when the production volume increased by 22%. Over the period under review, production reached the maximum level at $X in 2019; however, from 2020 to 2021, production stood at a somewhat lower figure.

Exports of Sweet Biscuits, Waffles and Wafers

Exports from China

In 2021, approx. X tons of sweet biscuits, waffles and wafers were exported from China; with an increase of 6.6% on the year before. In general, exports continue to indicate a prominent expansion. The pace of growth was the most pronounced in 2019 when exports increased by 61% against the previous year. Over the period under review, the exports attained the peak figure in 2021 and are expected to retain growth in the near future.

In value terms, sweet biscuit, waffle and wafer exports expanded remarkably to $X in 2021. Over the period under review, exports showed a buoyant expansion. The most prominent rate of growth was recorded in 2019 when exports increased by 54%. The exports peaked in 2021 and are likely to see steady growth in years to come.

Exports by Country

The Philippines (X tons), Thailand (X tons) and Vietnam (X tons) were the main destinations of sweet biscuit, waffle and wafer exports from China, with a combined 44% share of total exports.

From 2012 to 2021, the biggest increases were recorded for Vietnam (with a CAGR of +76.5%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, the largest markets for sweet biscuit, waffle and wafer exported from China were the Philippines ($X), Vietnam ($X) and Thailand ($X), with a combined 40% share of total exports.

Vietnam, with a CAGR of +69.2%, saw the highest growth rate of the value of exports, in terms of 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 export price for sweet biscuits, waffles and wafers stood at $X per ton in 2021, with an increase of 5.9% against the previous year. Over the period from 2012 to 2021, it increased at an average annual rate of +2.2%. The pace of growth was the most pronounced in 2013 when the average export price increased by 9.1% against the previous year. Over the period under review, the average export prices reached the maximum at $X per ton in 2016; however, from 2017 to 2021, the export prices remained at a lower figure.

Average prices varied somewhat for the major foreign markets. In 2021, amid the top suppliers, the countries with the highest prices were Australia ($X per ton) and South Korea ($X per ton), while the average price for exports to the Philippines ($X per ton) and Saudi Arabia ($X per ton) were amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to Ghana (+7.8%), while the prices for the other major destinations experienced more modest paces of growth.

Imports of Sweet Biscuits, Waffles and Wafers

Imports into China

In 2021, purchases abroad of sweet biscuits, waffles and wafers increased by 16% to X tons for the first time since 2018, thus ending a two-year declining trend. Over the period under review, imports recorded strong growth. The pace of growth was the most pronounced in 2016 with an increase of 45% against the previous year. Imports peaked in 2021 and are likely to see gradual growth in the near future.

In value terms, sweet biscuit, waffle and wafer imports surged to $X in 2021. Overall, imports saw a strong increase. The pace of growth appeared the most rapid in 2013 when imports increased by 48% against the previous year. Over the period under review, imports reached the peak figure in 2021 and are likely to continue growth in years to come.

Imports by Country

In 2021, Indonesia (X tons) constituted the largest supplier of sweet biscuit, waffle and wafer to China, accounting for a 55% share of total imports. Moreover, sweet biscuit, waffle and wafer imports from Indonesia exceeded the figures recorded by the second-largest supplier, Russia (X tons), sevenfold. The third position in this ranking was taken by Malaysia (X tons), with a 6.3% share.

From 2012 to 2021, the average annual rate of growth in terms of volume from Indonesia totaled +30.7%. The remaining supplying countries recorded the following average annual rates of imports growth: Russia (+145.3% per year) and Malaysia (+7.6% per year).

In value terms, Indonesia ($X) constituted the largest supplier of sweet biscuits, waffles and wafers to China, comprising 39% of total imports. The second position in the ranking was held by Japan ($X), with a 9.3% share of total imports. It was followed by Denmark, with a 6.9% share.

From 2012 to 2021, the average annual rate of growth in terms of value from Indonesia totaled +23.6%. The remaining supplying countries recorded the following average annual rates of imports growth: Japan (+32.2% per year) and Denmark (-1.5% per year).

Import Prices by Country

In 2021, the average import price for sweet biscuits, waffles and wafers amounted to $X per ton, growing by 2.7% against the previous year. Over the period under review, the import price, however, saw a relatively flat trend pattern. The pace of growth appeared the most rapid in 2017 when the average import price increased by 5.6% against the previous year. The import price peaked at $X per ton in 2014; however, from 2015 to 2021, import prices stood at a somewhat 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 Japan ($X per ton), while the price for Spain ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Taiwan (Chinese) (+11.1%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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