CIS: Waffle And Wafer Market 2024

Waffle And Wafer Market Size in CIS

After two years of decline, the CIS waffle and wafer market increased by 1.3% to $X in 2021. Over the period under review, consumption showed a mild descent. As a result, consumption attained the peak level of $X. From 2014 to 2021, the growth of the market failed to regain momentum.

Waffle And Wafer Production in CIS

In value terms, waffle and wafer production shrank to $X in 2021 estimated in export price. Overall, production saw a slight decline. The most prominent rate of growth was recorded in 2013 when the production volume increased by 11% against the previous year. As a result, production attained the peak level of $X. From 2014 to 2021, production growth remained at a somewhat lower figure.

Waffle And Wafer Exports

Exports in CIS

For the tenth year in a row, the CIS recorded growth in overseas shipments of waffles and wafers, which increased by 1.6% to X tons in 2021. In general, exports saw a remarkable increase. The pace of growth appeared the most rapid in 2016 with an increase of 32%. Over the period under review, the exports attained the peak figure in 2021 and are likely to see gradual growth in the near future.

In value terms, waffle and wafer exports skyrocketed to $X in 2021. Total exports indicated a remarkable increase from 2012 to 2021: its value increased at an average annual rate of +8.6% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, exports increased by +99.5% against 2015 indices. The pace of growth was the most pronounced in 2016 with an increase of 29% against the previous year. Over the period under review, the exports hit record highs in 2021 and are expected to retain growth in years to come.

Exports by Country

Russia dominates exports structure, reaching X tons, which was approx. 88% of total exports in 2021. It was distantly followed by Kazakhstan (X tons), achieving a 5.3% share of total exports. Belarus (X tons) took a little share of total exports.

Exports from Russia increased at an average annual rate of +13.4% from 2012 to 2021. At the same time, Kazakhstan (+14.4%) and Belarus (+1.7%) displayed positive paces of growth. Moreover, Kazakhstan emerged as the fastest-growing exporter exported in the CIS, with a CAGR of +14.4% from 2012-2021. While the share of Russia (+4.4 p.p.) increased significantly in terms of the total exports from 2012-2021, the share of Belarus (-4.7 p.p.) displayed negative dynamics. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Russia ($X) remains the largest waffle and wafer supplier in the CIS, comprising 88% of total exports. The second position in the ranking was taken by Kazakhstan ($X), with a 4.7% share of total exports.

In Russia, waffle and wafer exports increased at an average annual rate of +8.8% over the period from 2012-2021. In the other countries, the average annual rates were as follows: Kazakhstan (+8.9% per year) and Belarus (+0.3% per year).

Export Prices by Country

The export price in the CIS stood at $X per ton in 2021, increasing by 13% against the previous year. Overall, the export price, however, showed a perceptible slump. The level of export peaked at $X per ton in 2013; however, from 2014 to 2021, the export prices stood at a somewhat lower figure.

Average prices varied somewhat amongst the major exporting countries. In 2021, the country with the highest price was Belarus ($X per ton), while Kazakhstan ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Belarus (-1.4%), while the other leaders experienced a decline in the export price figures.

Waffle And Wafer Imports

Imports in CIS

In 2021, purchases abroad of waffles and wafers increased by 4.7% to X tons, rising for the sixth year in a row after two years of decline. Total imports indicated a prominent increase from 2012 to 2021: its volume increased at an average annual rate of +5.9% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, imports increased by +74.2% against 2015 indices. The pace of growth was the most pronounced in 2018 when imports increased by 24% against the previous year. Over the period under review, imports reached the peak figure in 2021 and are likely to see gradual growth in the immediate term.

In value terms, waffle and wafer imports surged to $X in 2021. Total imports indicated a resilient increase from 2012 to 2021: its value increased at an average annual rate of +5.1% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, imports increased by +102.0% against 2015 indices. As a result, imports reached the peak and are likely to continue growth in the immediate term.

Imports by Country

The purchases of the three major importers of waffles and wafers, namely Kazakhstan, Belarus and Russia, represented more than two-thirds of total import. Tajikistan (X tons) took the next position in the ranking, followed by Kyrgyzstan (X tons) and Azerbaijan (X tons). All these countries together took approx. 23% share of total imports. Moldova (X tons) followed a long way behind the leaders.

From 2012 to 2021, the biggest increases were recorded for Belarus (with a CAGR of +13.1%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, Russia ($X), Kazakhstan ($X) and Belarus ($X) appeared to be the countries with the highest levels of imports in 2021, together comprising 71% of total imports. Azerbaijan, Kyrgyzstan, Tajikistan and Moldova lagged somewhat behind, together comprising a further 19%.

Among the main importing countries, Azerbaijan, with a CAGR of +18.0%, recorded the highest rates of growth with regard to the value of imports, over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

The import price in the CIS stood at $X per ton in 2021, increasing by 21% against the previous year. Overall, the import price, however, showed a relatively flat trend pattern. The level of import peaked at $X per ton in 2013; however, from 2014 to 2021, import prices stood at a somewhat lower figure.

Prices varied noticeably country of destination: the country with the highest price was Russia ($X per ton), while Tajikistan ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Azerbaijan (+7.4%), while the other leaders experienced mixed trends in the import price figures.

Source: IndexBox Platform

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