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

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

The Dominican market for sweet biscuits, waffles and wafers expanded sharply to $X in 2021, surging by 8.6% against the previous year. This figure reflects the total revenues of producers and importers (excluding logistics costs, retail marketing costs, and retailers' margins, which will be included in the final consumer price). In general, the total consumption indicated a prominent increase from 2012 to 2021: its value increased at an average annual rate of +6.6% 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 +10.9% against 2019 indices. Over the period under review, the market hit record highs at $X in 2018; however, from 2019 to 2021, consumption remained at a lower figure.

Exports of Sweet Biscuits, Waffles and Wafers

Exports from the Dominican Republic

In 2021, shipments abroad of sweet biscuits, waffles and wafers increased by 54% to X tons, rising for the sixth consecutive year after three years of decline. In general, exports posted a buoyant increase. The most prominent rate of growth was recorded in 2019 when exports increased by 56% against the previous year. The exports peaked in 2021 and are likely to see gradual growth in years to come.

In value terms, sweet biscuit, waffle and wafer exports skyrocketed to $X in 2021. Overall, exports enjoyed a significant increase. The most prominent rate of growth was recorded in 2019 when exports increased by 91% against the previous year. Over the period under review, the exports attained the peak figure in 2021 and are likely to continue growth in years to come.

Exports by Country

The United States (X tons), Haiti (X tons) and Chile (X tons) were the main destinations of sweet biscuit, waffle and wafer exports from the Dominican Republic, together comprising 77% of total exports.

From 2012 to 2021, the biggest increases were recorded for Chile (with a CAGR of +91.7%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, the United States ($X) remains the key foreign market for sweet biscuits, waffles and wafers exports from the Dominican Republic, comprising 47% of total exports. The second position in the ranking was taken by Chile ($X), with a 14% share of total exports. It was followed by Haiti, with a 14% share.

From 2012 to 2021, the average annual rate of growth in terms of value to the United States amounted to +37.5%. Exports to the other major destinations recorded the following average annual rates of exports growth: Chile (+77.3% per year) and Haiti (+2.8% per year).

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 14% against the previous year. In general, the export price posted a buoyant increase. The most prominent rate of growth was recorded in 2019 when the average export price increased by 23% against the previous year. Over the period under review, the average export prices hit record highs in 2021 and is likely to see steady growth in the near future.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Spain ($X per ton), while the average price for exports to Cuba ($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 Spain (+12.9%), while the prices for the other major destinations experienced more modest paces of growth.

Imports of Sweet Biscuits, Waffles and Wafers

Imports into the Dominican Republic

Sweet biscuit, waffle and wafer imports into the Dominican Republic rose notably to X tons in 2021, increasing by 11% against the year before. Overall, total imports indicated a buoyant expansion from 2012 to 2021: its volume increased at an average annual rate of +5.7% 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 +19.6% against 2019 indices. The pace of growth was the most pronounced in 2016 when imports increased by 23% against the previous year. Imports peaked in 2021 and are expected to retain growth in the immediate term.

In value terms, sweet biscuit, waffle and wafer imports expanded significantly to $X in 2021. In general, total imports indicated a strong increase from 2012 to 2021: its value increased at an average annual rate of +7.4% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, imports increased by +12.8% against 2019 indices. The pace of growth appeared the most rapid in 2016 when imports increased by 36% against the previous year. Imports peaked at $X in 2018; however, from 2019 to 2021, imports stood at a somewhat lower figure.

Imports by Country

Guatemala (X tons), Peru (X tons) and India (X tons) were the main suppliers of sweet biscuit, waffle and wafer imports to the Dominican Republic, together comprising 65% of total imports.

From 2012 to 2021, the biggest increases were recorded for Peru (with a CAGR of +55.2%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, the largest sweet biscuit, waffle and wafer suppliers to the Dominican Republic were Guatemala ($X), Mexico ($X) and Peru ($X), with a combined 61% share of total imports.

Among the main suppliers, Peru, with a CAGR of +48.0%, saw 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 average import price for sweet biscuits, waffles and wafers stood at $X per ton in 2021, therefore, remained relatively stable against the previous year. Over the period from 2012 to 2021, it increased at an average annual rate of +1.7%. The growth pace was the most rapid in 2016 an increase of 10%. The import price peaked at $X per ton in 2017; however, from 2018 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 the United States ($X per ton), while the price for Peru ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by China (+11.3%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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