Eastern Asia: Waffle And Wafer Market 2024

Waffle And Wafer Market Size in Eastern Asia

For the fourth consecutive year, the East Asian waffle and wafer market recorded growth in sales value, which increased by 0.7% to $X in 2021. The market value increased at an average annual rate of +1.1% over the period from 2012 to 2021; the trend pattern remained relatively stable, with somewhat noticeable fluctuations being recorded in certain years. As a result, consumption reached the peak level of $X. From 2017 to 2021, the growth of the market failed to regain momentum.

Waffle And Wafer Production in Eastern Asia

In value terms, waffle and wafer production fell modestly to $X in 2021 estimated in export price. Over the period under review, production, however, showed a relatively flat trend pattern. The most prominent rate of growth was recorded in 2016 when the production volume increased by 30%. As a result, production attained the peak level of $X. From 2017 to 2021, production growth remained at a somewhat lower figure.

Waffle And Wafer Exports

Exports in Eastern Asia

In 2021, shipments abroad of waffles and wafers decreased by -8.4% to X tons for the first time since 2018, thus ending a two-year rising trend. Over the period under review, exports, however, showed buoyant growth. The most prominent rate of growth was recorded in 2019 with an increase of 131% against the previous year. Over the period under review, the exports hit record highs at X tons in 2020, and then reduced in the following year.

In value terms, waffle and wafer exports shrank to $X in 2021. In general, exports, however, enjoyed a strong expansion. The pace of growth was the most pronounced in 2019 with an increase of 77% against the previous year. The level of export peaked at $X in 2020, and then declined modestly in the following year.

Exports by Country

China dominates exports structure, reaching X tons, which was near 86% of total exports in 2021. The following exporters - South Korea (X tons), Japan (X tons), Taiwan (Chinese) (X tons) and Hong Kong SAR (X tons) - together made up 14% of total exports.

From 2012 to 2021, average annual rates of growth with regard to waffle and wafer exports from China stood at +8.7%. At the same time, Japan (+22.6%), South Korea (+11.7%) and Taiwan (Chinese) (+2.2%) displayed positive paces of growth. Moreover, Japan emerged as the fastest-growing exporter exported in Eastern Asia, with a CAGR of +22.6% from 2012-2021. By contrast, Hong Kong SAR (-8.1%) illustrated a downward trend over the same period. From 2012 to 2021, the share of China and Japan increased by +4.9 and +2.8 percentage points, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, China ($X) remains the largest waffle and wafer supplier in Eastern Asia, comprising 66% of total exports. The second position in the ranking was held by Japan ($X), with a 16% share of total exports. It was followed by South Korea, with a 7.9% share.

In China, waffle and wafer exports expanded at an average annual rate of +9.5% over the period from 2012-2021. In the other countries, the average annual rates were as follows: Japan (+19.6% per year) and South Korea (+11.5% per year).

Export Prices by Country

The export price in Eastern Asia stood at $X per ton in 2021, rising by 5.2% against the previous year. Over the period from 2012 to 2021, it increased at an average annual rate of +1.4%. The most prominent rate of growth was recorded in 2016 an increase of 22% against the previous year. As a result, the export price attained the peak level of $X per ton. From 2017 to 2021, the export prices remained at a somewhat lower figure.

Prices varied noticeably country of origin: 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 Taiwan (Chinese) (+6.0%), while the other leaders experienced more modest paces of growth.

Waffle And Wafer Imports

Imports in Eastern Asia

In 2021, approx. X tons of waffles and wafers were imported in Eastern Asia; with an increase of 35% against the year before. In general, imports recorded significant growth. The most prominent rate of growth was recorded in 2016 when imports increased by 56% against the previous year. Over the period under review, imports attained the maximum in 2021 and are expected to retain growth in the near future.

In value terms, waffle and wafer imports soared to $X in 2021. Over the period under review, imports continue to indicate a strong expansion. The pace of growth was the most pronounced in 2016 with an increase of 56%. The level of import peaked in 2021 and is likely to continue growth in the immediate term.

Imports by Country

China represented the largest importer of waffles and wafers in Eastern Asia, with the volume of imports reaching X tons, which was approx. 73% of total imports in 2021. South Korea (X tons) ranks second in terms of the total imports with a 14% share, followed by Taiwan (Chinese) (5.5%) and Japan (4.5%). Hong Kong SAR (X tons) took a minor share of total imports.

China was also the fastest-growing in terms of the waffles and wafers imports, with a CAGR of +33.8% from 2012 to 2021. At the same time, South Korea (+16.5%), Japan (+6.9%), Taiwan (Chinese) (+4.1%) and Hong Kong SAR (+2.2%) displayed positive paces of growth. From 2012 to 2021, the share of China increased by +42 percentage points.

In value terms, China ($X) constitutes the largest market for imported waffles and wafers in Eastern Asia, comprising 65% of total imports. The second position in the ranking was taken by South Korea ($X), with an 18% share of total imports. It was followed by Taiwan (Chinese), with a 7.3% share.

In China, waffle and wafer imports expanded at an average annual rate of +29.3% over the period from 2012-2021. The remaining importing countries recorded the following average annual rates of imports growth: South Korea (+16.2% per year) and Taiwan (Chinese) (+6.9% per year).

Import Prices by Country

In 2021, the import price in Eastern Asia amounted to $X per ton, with an increase of 1.8% against the previous year. Overall, the import price, however, recorded a noticeable descent. The pace of growth appeared the most rapid in 2020 an increase of 3.1% against the previous year. Over the period under review, import prices reached the maximum at $X per ton in 2013; however, from 2014 to 2021, import prices failed to regain momentum.

Prices varied noticeably country of destination: 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 Taiwan (Chinese) (+2.7%), while the other leaders experienced mixed trends in the import price figures.

Source: IndexBox Platform

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