Dominican Republic: Market for Gingerbread, Sweet Biscuits and Waffles 2024

Market Size for Gingerbread, Sweet Biscuits and Waffles in the Dominican Republic

For the fourth year in a row, the Dominican market for gingerbread, sweet biscuits and waffles recorded growth in sales value, which increased by 7.6% to $X in 2022. The market value increased at an average annual rate of +4.1% from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. Gingerbread, sweet biscuit and waffle consumption peaked in 2022 and is expected to retain growth in the near future.

Production of Gingerbread, Sweet Biscuits and Waffles in the Dominican Republic

In value terms, gingerbread, sweet biscuit and waffle production stood at $X in 2022 estimated in export price. The total output value increased at an average annual rate of +2.0% from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The most prominent rate of growth was recorded in 2019 with an increase of 25% against the previous year. Over the period under review, production hit record highs at $X in 2020; however, from 2021 to 2022, production stood at a somewhat lower figure.

Exports of Gingerbread, Sweet Biscuits and Waffles

Exports from the Dominican Republic

In 2022, overseas shipments of gingerbread, sweet biscuits and waffles decreased by -26% to X tons, falling for the second consecutive year after three years of growth. Over the period under review, exports continue to indicate a perceptible descent. The most prominent rate of growth was recorded in 2014 with an increase of 51%. As a result, the exports reached the peak of X tons. From 2015 to 2022, the growth of the exports failed to regain momentum.

In value terms, gingerbread, sweet biscuit and waffle exports dropped to $X in 2022. Overall, total exports indicated a tangible increase from 2012 to 2022: its value increased at an average annual rate of +4.3% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, exports decreased by -13.2% against 2020 indices. The pace of growth appeared the most rapid in 2014 when exports increased by 65% against the previous year. Over the period under review, the exports attained the maximum at $X in 2020; however, from 2021 to 2022, the exports failed to regain momentum.

Exports by Country

Haiti (X tons) was the main destination for gingerbread, sweet biscuit and waffle exports from the Dominican Republic, with a 62% share of total exports. Moreover, gingerbread, sweet biscuit and waffle exports to Haiti exceeded the volume sent to the second major destination, the United States (X tons), fivefold. Trinidad and Tobago (X tons) ranked third in terms of total exports with a 5% share.

From 2012 to 2022, the average annual growth rate of volume to Haiti totaled -5.1%. Exports to the other major destinations recorded the following average annual rates of exports growth: the United States (-2.1% per year) and Trinidad and Tobago (+292.8% per year).

In value terms, Haiti ($X) remains the key foreign market for gingerbread, sweet biscuits and waffles exports from the Dominican Republic, comprising 48% of total exports. The second position in the ranking was taken by the United States ($X), with a 22% share of total exports. It was followed by Trinidad and Tobago, with a 5.1% share.

From 2012 to 2022, the average annual growth rate of value to Haiti was relatively modest. Exports to the other major destinations recorded the following average annual rates of exports growth: the United States (+6.8% per year) and Trinidad and Tobago (+318.4% per year).

Export Prices by Country

The average export price for gingerbread, sweet biscuits and waffles stood at $X per ton in 2022, surging by 24% against the previous year. In general, export price indicated strong growth from 2012 to 2022: its price increased at an average annual rate of +7.5% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, gingerbread, sweet biscuit and waffle export price increased by +105.5% against 2012 indices. As a result, the export price reached the peak level and is likely to continue growth in the immediate term.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Colombia ($X per ton), while the average price for exports to Cuba ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to the United States (+9.2%), while the prices for the other major destinations experienced more modest paces of growth.

Imports of Gingerbread, Sweet Biscuits and Waffles

Imports into the Dominican Republic

For the third year in a row, the Dominican Republic recorded growth in purchases abroad of gingerbread, sweet biscuits and waffles, which increased by 0.9% to X tons in 2022. Over the period under review, imports showed a strong expansion. The most prominent rate of growth was recorded in 2016 with an increase of 83% against the previous year. Over the period under review, imports reached the maximum at X tons in 2018; afterwards, it flattened through to 2022.

In value terms, gingerbread, sweet biscuit and waffle imports surged to $X in 2022. Overall, total imports indicated a strong increase from 2012 to 2022: its value increased at an average annual rate of +6.5% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports increased by +43.7% against 2019 indices. As a result, imports attained the peak and are likely to continue growth in the immediate term.

Imports by Country

In 2022, Guatemala (X tons) constituted the largest gingerbread, sweet biscuit and waffle supplier to the Dominican Republic, accounting for a 37% share of total imports. Moreover, gingerbread, sweet biscuit and waffle imports from Guatemala exceeded the figures recorded by the second-largest supplier, Peru (X tons), twofold. Mexico (X tons) ranked third in terms of total imports with a 14% share.

From 2012 to 2022, the average annual growth rate of volume from Guatemala totaled +22.9%. The remaining supplying countries recorded the following average annual rates of imports growth: Peru (+45.5% per year) and Mexico (+2.7% per year).

In value terms, the largest gingerbread, sweet biscuit and waffle suppliers to the Dominican Republic were Guatemala ($X), Mexico ($X) and Peru ($X), with a combined 62% share of total imports.

Peru, with a CAGR of +36.2%, recorded 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

In 2022, the average import price for gingerbread, sweet biscuits and waffles amounted to $X per ton, increasing by 26% against the previous year. Over the period under review, the import price, however, showed a noticeable decrease. Over the period under review, average import prices hit record highs at $X per ton in 2015; however, from 2016 to 2022, import prices stood at a somewhat lower figure.

There were significant differences in the average prices amongst the major supplying countries. In 2022, amid the top importers, the country with the highest price was the United States ($X per ton), while the price for Colombia ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by the United States (+5.6%), while the prices for the other major suppliers experienced a decline.

Source: IndexBox Platform

Frequently Asked Questions (FAQ) :