Eastern Asia: Market for Gingerbread, Sweet Biscuits and Waffles 2024

Market Size for Gingerbread, Sweet Biscuits and Waffles in Eastern Asia

The East Asian market for gingerbread, sweet biscuits and waffles amounted to $X in 2022, approximately equating the previous year. The market value increased at an average annual rate of +2.3% from 2012 to 2022; however, the trend pattern remained consistent, with only minor fluctuations being recorded in certain years. As a result, consumption reached the peak level of $X. From 2019 to 2022, the growth of the market failed to regain momentum.

Production of Gingerbread, Sweet Biscuits and Waffles in Eastern Asia

In value terms, gingerbread, sweet biscuit and waffle production reached $X in 2022 estimated in export price. The total output value increased at an average annual rate of +2.3% over the period from 2012 to 2022; the trend pattern remained consistent, with somewhat noticeable fluctuations in certain years. The most prominent rate of growth was recorded in 2018 with an increase of 13% against the previous year. As a result, production attained the peak level of $X. From 2019 to 2022, production growth remained at a lower figure.

Exports of Gingerbread, Sweet Biscuits and Waffles

Exports in Eastern Asia

In 2022, approx. X tons of gingerbread, sweet biscuits and waffles were exported in Eastern Asia; shrinking by -5.6% compared with 2021 figures. Total exports indicated temperate growth from 2012 to 2022: its volume increased at an average annual rate of +2.8% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, exports increased by +55.0% against 2015 indices. The pace of growth appeared the most rapid in 2019 with an increase of 32%. Over the period under review, the exports reached the maximum at X tons in 2021, and then declined in the following year.

In value terms, gingerbread, sweet biscuit and waffle exports contracted to $X in 2022. Overall, exports, however, showed a strong increase. The pace of growth was the most pronounced in 2021 with an increase of 33%. As a result, the exports attained the peak of $X, and then declined in the following year.

Exports by Country

China was the major exporter of gingerbread, sweet biscuits and waffles in Eastern Asia, with the volume of exports reaching X tons, which was approx. 73% of total exports in 2022. It was distantly followed by Hong Kong SAR (X tons), Taiwan (Chinese) (X tons) and South Korea (X tons), together generating a 23% share of total exports. Japan (X tons) followed a long way behind the leaders.

From 2012 to 2022, average annual rates of growth with regard to gingerbread, sweet biscuit and waffle exports from China stood at +4.6%. At the same time, South Korea (+23.1%) and Japan (+8.4%) displayed positive paces of growth. Moreover, South Korea emerged as the fastest-growing exporter exported in Eastern Asia, with a CAGR of +23.1% from 2012-2022. By contrast, Taiwan (Chinese) (-1.1%) and Hong Kong SAR (-4.9%) illustrated a downward trend over the same period. While the share of China (+12 p.p.) and South Korea (+4.4 p.p.) increased significantly in terms of the total exports from 2012-2022, the share of Taiwan (Chinese) (-3.6 p.p.) and Hong Kong SAR (-12.4 p.p.) displayed negative dynamics. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, China ($X) remains the largest gingerbread, sweet biscuit and waffle supplier in Eastern Asia, comprising 51% of total exports. The second position in the ranking was taken by Hong Kong SAR ($X), with a 21% share of total exports. It was followed by Taiwan (Chinese), with a 10% share.

From 2012 to 2022, the average annual growth rate of value in China stood at +7.6%. The remaining exporting countries recorded the following average annual rates of exports growth: Hong Kong SAR (+7.9% per year) and Taiwan (Chinese) (+5.4% per year).

Export Prices by Country

In 2022, the export price in Eastern Asia amounted to $X per ton, declining by -7.6% against the previous year. Over the period from 2012 to 2022, it increased at an average annual rate of +4.4%. The pace of growth was the most pronounced in 2021 an increase of 18% against the previous year. As a result, the export price attained the peak level of $X per ton, and then reduced in the following year.

Prices varied noticeably by country of origin: amid the top suppliers, the country with the highest price was Japan ($X per ton), while China ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Hong Kong SAR (+13.5%), while the other leaders experienced more modest paces of growth.

Imports of Gingerbread, Sweet Biscuits and Waffles

Imports in Eastern Asia

In 2022, the amount of gingerbread, sweet biscuits and waffles imported in Eastern Asia fell slightly to X tons, reducing by -2.8% compared with 2021 figures. Total imports indicated resilient growth from 2012 to 2022: its volume increased at an average annual rate of +8.3% 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 +4.3% against 2020 indices. The most prominent rate of growth was recorded in 2016 with an increase of 26% against the previous year. The volume of import peaked at X tons in 2019; however, from 2020 to 2022, imports remained at a lower figure.

In value terms, gingerbread, sweet biscuit and waffle imports reduced modestly to $X in 2022. Total imports indicated a strong expansion from 2012 to 2022: its value increased at an average annual rate of +8.9% 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 +8.7% against 2020 indices. The pace of growth was the most pronounced in 2013 when imports increased by 29%. The level of import peaked at $X in 2021, and then reduced modestly in the following year.

Imports by Country

In 2022, China (X tons) represented the major importer of gingerbread, sweet biscuits and waffles, making up 64% of total imports. South Korea (X tons) ranks second in terms of the total imports with a 12% share, followed by Hong Kong SAR (10%) and Taiwan (Chinese) (9.5%). Japan (X tons) held a little share of total imports.

China was also the fastest-growing in terms of the gingerbread, sweet biscuits and waffles imports, with a CAGR of +12.4% from 2012 to 2022. At the same time, South Korea (+12.1%), Japan (+6.1%), Taiwan (Chinese) (+5.1%) and Hong Kong SAR (+1.3%) displayed positive paces of growth. China (+20 p.p.) and South Korea (+3.4 p.p.) significantly strengthened its position in terms of the total imports, while Taiwan (Chinese) and Hong Kong SAR saw its share reduced by -3.4% and -9.8% from 2012 to 2022, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, China ($X) constitutes the largest market for imported gingerbread, sweet biscuits and waffles in Eastern Asia, comprising 61% of total imports. The second position in the ranking was held by South Korea ($X), with a 14% share of total imports. It was followed by Hong Kong SAR, with a 12% share.

From 2012 to 2022, the average annual growth rate of value in China stood at +11.6%. In the other countries, the average annual rates were as follows: South Korea (+13.0% per year) and Hong Kong SAR (+2.5% per year).

Import Prices by Country

In 2022, the import price in Eastern Asia amounted to $X per ton, flattening at the previous year. Overall, the import price, however, recorded a relatively flat trend pattern. The most prominent rate of growth was recorded in 2013 when the import price increased by 8.4% against the previous year. As a result, import price reached the peak level of $X per ton. From 2014 to 2022, the import prices remained at a somewhat lower figure.

Average prices varied somewhat amongst the major importing countries. In 2022, major importing countries recorded the following prices: in Japan ($X per ton) and South Korea ($X per ton), while Taiwan (Chinese) ($X per ton) and China ($X per ton) were amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Taiwan (Chinese) (+1.4%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform

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