Eastern Europe: Waffle And Wafer Market 2024

Waffle And Wafer Market Size in Eastern Europe

In 2021, the East European waffle and wafer market decreased by -10.9% to $X for the first time since 2016, thus ending a four-year rising trend. Over the period under review, consumption recorded a mild decrease. The level of consumption peaked at $X in 2013; however, from 2014 to 2021, consumption remained at a lower figure.

Waffle And Wafer Production in Eastern Europe

In value terms, waffle and wafer production contracted to $X in 2021 estimated in export price. Overall, production saw a slight decline. The growth pace was the most rapid in 2013 with an increase of 13% against the previous year. As a result, production reached the peak level of $X. From 2014 to 2021, production growth remained at a somewhat lower figure.

Waffle And Wafer Exports

Exports in Eastern Europe

In 2021, waffle and wafer exports in Eastern Europe expanded markedly to X tons, increasing by 6.8% on 2020. Total exports indicated a remarkable increase from 2012 to 2021: its volume increased at an average annual rate of +9.2% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, exports increased by +121.1% against 2012 indices. The most prominent rate of growth was recorded in 2013 with an increase of 36%. Over the period under review, the exports reached the maximum in 2021 and are expected to retain growth in the near future.

In value terms, waffle and wafer exports soared to $X in 2021. In general, exports recorded a buoyant increase. The most prominent rate of growth was recorded in 2013 when exports increased by 44%. The level of export peaked in 2021 and is expected to retain growth in the near future.

Exports by Country

Poland represented the key exporting country with an export of around X tons, which amounted to 44% of total exports. Russia (X tons) took a 23% share (based on physical terms) of total exports, which put it in second place, followed by Bulgaria (9.1%), Ukraine (8.4%), the Czech Republic (6.3%) and Slovakia (5.7%).

From 2012 to 2021, the most notable rate of growth in terms of shipments, amongst the leading exporting countries, was attained by Slovakia (with a CAGR of +35.4%), while the other leaders experienced more modest paces of growth.

In value terms, Poland ($X) remains the largest waffle and wafer supplier in Eastern Europe, comprising 59% of total exports. The second position in the ranking was taken by Russia ($X), with an 11% share of total exports. It was followed by Bulgaria, with an 8% share.

In Poland, waffle and wafer exports increased at an average annual rate of +15.9% over the period from 2012-2021. In the other countries, the average annual rates were as follows: Russia (+8.8% per year) and Bulgaria (+4.0% per year).

Export Prices by Country

The export price in Eastern Europe stood at $X per ton in 2021, growing by 8.9% against the previous year. Over the last nine years, it increased at an average annual rate of +2.1%. As a result, the export price reached the peak level and is likely to continue growth in the immediate term.

There were significant differences in the average prices amongst the major exporting countries. In 2021, the country with the highest price was Poland ($X per ton), while Russia ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Ukraine (+6.1%), while the other leaders experienced more modest paces of growth.

Waffle And Wafer Imports

Imports in Eastern Europe

For the seventh year in a row, Eastern Europe recorded growth in overseas purchases of waffles and wafers, which increased by 10% to X tons in 2021. Total imports indicated strong growth from 2012 to 2021: its volume increased at an average annual rate of +7.7% 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 +94.8% against 2012 indices. The most prominent rate of growth was recorded in 2019 with an increase of 16%. The volume of import peaked in 2021 and is likely to see steady growth in the immediate term.

In value terms, waffle and wafer imports skyrocketed to $X in 2021. Over the period under review, imports saw a buoyant expansion. As a result, imports reached the peak and are likely to continue growth in the immediate term.

Imports by Country

The purchases of the three major importers of waffles and wafers, namely Romania, Poland and the Czech Republic, represented more than half of total import. Belarus (X tons) ranks next in terms of the total imports with a 9.4% share, followed by Hungary (9.3%), Russia (9.2%) and Slovakia (6.2%).

From 2012 to 2021, the biggest increases were recorded for Romania (with a CAGR of +16.8%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, the largest waffle and wafer importing markets in Eastern Europe were Poland ($X), Romania ($X) and the Czech Republic ($X), with a combined 56% share of total imports.

In terms of the main importing countries, Romania, with a CAGR of +17.9%, saw the highest growth rate of 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 import price in Eastern Europe stood at $X per ton in 2021, surging by 9.8% against the previous year. Over the period from 2012 to 2021, it increased at an average annual rate of +1.0%. As a result, import price reached the peak level and is likely to continue growth in the immediate term.

There were significant differences in the average prices amongst the major importing countries. In 2021, the country with the highest price was Poland ($X per ton), while Belarus ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Russia (+2.3%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform

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