Ecuador: Market for Gingerbread, Sweet Biscuits and Waffles 2024

Market Size for Gingerbread, Sweet Biscuits and Waffles in Ecuador

The Ecuadorian market for gingerbread, sweet biscuits and waffles dropped modestly to $X in 2022, shrinking by -3.7% against the previous year. The market value increased at an average annual rate of +1.4% from 2012 to 2022; the trend pattern indicated some noticeable fluctuations being recorded in certain years. Gingerbread, sweet biscuit and waffle consumption peaked at $X in 2018; however, from 2019 to 2022, consumption stood at a somewhat lower figure.

Production of Gingerbread, Sweet Biscuits and Waffles in Ecuador

In value terms, gingerbread, sweet biscuit and waffle production dropped to $X in 2022 estimated in export price. The total output value increased at an average annual rate of +1.6% from 2012 to 2022; the trend pattern indicated some noticeable fluctuations being recorded in certain years. The growth pace was the most rapid in 2015 when the production volume increased by 30% against the previous year. Gingerbread, sweet biscuit and waffle production peaked at $X in 2018; however, from 2019 to 2022, production remained at a lower figure.

Exports of Gingerbread, Sweet Biscuits and Waffles

Exports from Ecuador

In 2022, overseas shipments of gingerbread, sweet biscuits and waffles decreased by -12.2% to X tons for the first time since 2019, thus ending a two-year rising trend. Over the period under review, exports, however, enjoyed a resilient increase. The pace of growth was the most pronounced in 2020 when exports increased by 234%. Over the period under review, the exports reached the maximum at X tons in 2021, and then contracted in the following year.

In value terms, gingerbread, sweet biscuit and waffle exports fell markedly to $X in 2022. Overall, exports, however, recorded a resilient expansion. The growth pace was the most rapid in 2020 with an increase of 104% against the previous year. The exports peaked at $X in 2021, and then contracted markedly in the following year.

Exports by Country

Peru (X tons), Chile (X tons) and the United States (X tons) were the main destinations of gingerbread, sweet biscuit and waffle exports from Ecuador, together accounting for 91% of total exports.

From 2012 to 2022, the biggest increases were recorded for Peru (with a CAGR of +65.3%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, Peru ($X), Chile ($X) and the United States ($X) constituted the largest markets for gingerbread, sweet biscuit and waffle exported from Ecuador worldwide, with a combined 81% share of total exports.

Among the main countries of destination, Peru, with a CAGR of +48.7%, saw the highest growth rate of the value of exports, over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

The average export price for gingerbread, sweet biscuits and waffles stood at $X per ton in 2022, with a decrease of -7.2% against the previous year. Overall, the export price continues to indicate a relatively flat trend pattern. The most prominent rate of growth was recorded in 2015 when the average export price increased by 22% against the previous year. As a result, the export price reached the peak level of $X per ton. From 2016 to 2022, the average export prices remained at a somewhat lower figure.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Colombia ($X per ton), while the average price for exports to Peru ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Spain (+7.8%), while the prices for the other major destinations experienced more modest paces of growth.

Imports of Gingerbread, Sweet Biscuits and Waffles

Imports into Ecuador

In 2022, approx. X tons of gingerbread, sweet biscuits and waffles were imported into Ecuador; waning by -5.6% against the year before. Overall, imports, however, recorded a relatively flat trend pattern. The pace of growth was the most pronounced in 2017 when imports increased by 22% against the previous year. Imports peaked at X tons in 2019; however, from 2020 to 2022, imports failed to regain momentum.

In value terms, gingerbread, sweet biscuit and waffle imports reduced to $X in 2022. Over the period under review, imports showed a relatively flat trend pattern. The most prominent rate of growth was recorded in 2017 with an increase of 35%. Over the period under review, imports hit record highs at $X in 2013; however, from 2014 to 2022, imports stood at a somewhat lower figure.

Imports by Country

In 2022, Peru (X tons) constituted the largest gingerbread, sweet biscuit and waffle supplier to Ecuador, accounting for a 59% share of total imports. Moreover, gingerbread, sweet biscuit and waffle imports from Peru exceeded the figures recorded by the second-largest supplier, Colombia (X tons), threefold. The third position in this ranking was taken by Turkey (X tons), with a 5.4% share.

From 2012 to 2022, the average annual growth rate of volume from Peru was relatively modest. The remaining supplying countries recorded the following average annual rates of imports growth: Colombia (+0.2% per year) and Turkey (+63.9% per year).

In value terms, the largest gingerbread, sweet biscuit and waffle suppliers to Ecuador were Peru ($X), Colombia ($X) and the United States ($X), with a combined 76% share of total imports. Turkey, Argentina and Brazil lagged somewhat behind, together comprising a further 11%.

Turkey, with a CAGR of +58.8%, saw the highest growth rate of the value of imports, in terms of the main suppliers over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

In 2022, the average import price for gingerbread, sweet biscuits and waffles amounted to $X per ton, reducing by -1.7% against the previous year. In general, the import price recorded a slight setback. The pace of growth was the most pronounced in 2017 an increase of 10%. The import price peaked at $X per ton in 2013; however, from 2014 to 2022, import prices stood at a somewhat lower figure.

There were significant differences in the average prices amongst the major supplying countries. In 2022, amid the top importers, the country with the highest price was Brazil ($X per ton), while the price for Peru ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Argentina (+3.9%), while the prices for the other major suppliers experienced mixed trend patterns.

Source: IndexBox Platform

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