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

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

The East Asian market for sweet biscuits, waffles and wafers stood at $X in 2021, leveling off at the previous year. The total consumption indicated a buoyant expansion from 2012 to 2021: its value increased at an average annual rate of +8.1% 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 decreased by -0.9% against 2019 indices. The level of consumption peaked at $X in 2019; however, from 2020 to 2021, consumption failed to regain momentum.

Production of Sweet Biscuits, Waffles and Wafers in Eastern Asia

In value terms, sweet biscuit, waffle and wafer production totaled $X in 2021 estimated in export price. The total production indicated a remarkable increase from 2012 to 2021: its value increased at an average annual rate of +8.2% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, production decreased by -0.9% against 2019 indices. The most prominent rate of growth was recorded in 2016 when the production volume increased by 19%. The level of production peaked at $X in 2019; however, from 2020 to 2021, production remained at a lower figure.

Exports of Sweet Biscuits, Waffles and Wafers

Exports in Eastern Asia

Sweet biscuit, waffle and wafer exports rose markedly to X tons in 2021, growing by 14% compared with 2020 figures. The total export volume increased at an average annual rate of +3.1% over the period from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The pace of growth was the most pronounced in 2019 with an increase of 25% against the previous year. The volume of export peaked in 2021 and is likely to continue growth in the near future.

In value terms, sweet biscuit, waffle and wafer exports skyrocketed to $X in 2021. Total exports indicated a resilient expansion from 2012 to 2021: its value increased at an average annual rate of +8.9% 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 +101.4% against 2017 indices. As a result, the exports attained the peak and are likely to continue growth in the immediate term.

Exports by Country

China was the main exporter of sweet biscuits, waffles and wafers in Eastern Asia, with the volume of exports accounting for X tons, which was approx. 61% of total exports in 2021. South Korea (X tons) ranks second in terms of the total exports with a 16% share, followed by Hong Kong SAR (14%) and Taiwan (Chinese) (6.6%). Japan (X tons) held a little share of total exports.

From 2012 to 2021, average annual rates of growth with regard to sweet biscuit, waffle and wafer exports from China stood at +5.0%. At the same time, Japan (+7.6%) and South Korea (+2.6%) displayed positive paces of growth. Moreover, Japan emerged as the fastest-growing exporter exported in Eastern Asia, with a CAGR of +7.6% from 2012-2021. Hong Kong SAR and Taiwan (Chinese) experienced a relatively flat trend pattern. From 2012 to 2021, the share of China increased by +9.1 percentage points. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, China ($X), Hong Kong SAR ($X) and South Korea ($X) constituted the countries with the highest levels of exports in 2021, with a combined 85% share of total exports.

Hong Kong SAR, with a CAGR of +16.3%, recorded the highest rates of growth with regard to the value of exports, among the main exporting countries over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

The export price in Eastern Asia stood at $X per ton in 2021, picking up by 17% against the previous year. Over the period from 2012 to 2021, it increased at an average annual rate of +5.6%. The most prominent rate of growth was recorded in 2015 when the export price increased by 18%. Over the period under review, the export prices attained the maximum in 2021 and is likely to see steady growth in the near future.

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 2021, the most notable rate of growth in terms of prices was attained by Hong Kong SAR (+17.0%), while the other leaders experienced more modest paces of growth.

Imports of Sweet Biscuits, Waffles and Wafers

Imports in Eastern Asia

In 2021, approx. X tons of sweet biscuits, waffles and wafers were imported in Eastern Asia; increasing by 7.6% on the previous year. Total imports indicated buoyant growth from 2012 to 2021: its volume increased at an average annual rate of +9.5% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, imports decreased by -0.5% against 2019 indices. The pace of growth appeared the most rapid in 2016 when imports increased by 25%. The volume of import peaked at X tons in 2019; however, from 2020 to 2021, imports remained at a lower figure.

In value terms, sweet biscuit, waffle and wafer imports expanded rapidly to $X in 2021. Total imports indicated a prominent increase from 2012 to 2021: its value increased at an average annual rate of +10.3% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. The most prominent rate of growth was recorded in 2013 when imports increased by 29% against the previous year. The level of import peaked in 2021 and is likely to continue growth in the near future.

Imports by Country

In 2021, China (X tons) was the main importer of sweet biscuits, waffles and wafers, making up 63% of total imports. South Korea (X tons) held a 15% share (based on physical terms) of total imports, which put it in second place, followed by Hong Kong SAR (11%) and Taiwan (Chinese) (6.3%). The following importers - Japan (X tons) and Macao SAR (X tons) - each finished at a 3.6% share of total imports.

Imports into China increased at an average annual rate of +14.0% from 2012 to 2021. At the same time, South Korea (+15.6%), Japan (+6.9%), Hong Kong SAR (+3.0%) and Taiwan (Chinese) (+1.2%) displayed positive paces of growth. Moreover, South Korea emerged as the fastest-growing importer imported in Eastern Asia, with a CAGR of +15.6% from 2012-2021. By contrast, Macao SAR (-4.8%) illustrated a downward trend over the same period. From 2012 to 2021, the share of China and South Korea increased by +19 and +5.8 percentage points, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, China ($X) constitutes the largest market for imported sweet biscuits, waffles and wafers in Eastern Asia, comprising 60% of total imports. The second position in the ranking was held by South Korea ($X), with a 16% share of total imports. It was followed by Hong Kong SAR, with a 12% share.

From 2012 to 2021, the average annual growth rate of value in China stood at +13.1%. In the other countries, the average annual rates were as follows: South Korea (+16.3% per year) and Hong Kong SAR (+3.6% per year).

Import Prices by Country

In 2021, the import price in Eastern Asia amounted to $X per ton, picking up by 5.3% against the previous year. Over the period under review, the import price continues to indicate 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 2021, the import prices remained at a somewhat lower figure.

There were significant differences in the average prices amongst the major importing countries. In 2021, amid the top importers, the country with the highest price was Macao SAR ($X per ton), while China ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Macao SAR (+7.7%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform

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