Egypt: Waffle And Wafer Market 2024

Waffle And Wafer Market Size in Egypt

In 2021, the Egyptian waffle and wafer market increased by 36% to $X, rising for the fourth consecutive year after five years of decline. In general, consumption saw a resilient expansion. Over the period under review, the market reached the maximum level in 2021 and is expected to retain growth in the near future.

Waffle And Wafer Production in Egypt

In value terms, waffle and wafer production declined to $X in 2021 estimated in export price. Over the period under review, the total production indicated a tangible expansion from 2012 to 2021: its value increased at an average annual rate of +3.7% 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 increased by +66.8% against 2016 indices. The pace of growth was the most pronounced in 2020 when the production volume increased by 31% against the previous year. As a result, production attained the peak level of $X, and then declined in the following year.

Waffle And Wafer Exports

Exports from Egypt

For the third year in a row, Egypt recorded decline in overseas shipments of waffles and wafers, which decreased by -7.7% to X tons in 2021. Overall, exports, however, enjoyed perceptible growth. The pace of growth was the most pronounced in 2015 with an increase of 85%. Over the period under review, the exports attained the maximum at X tons in 2018; however, from 2019 to 2021, the exports failed to regain momentum.

In value terms, waffle and wafer exports soared to $X in 2021. Over the period under review, exports, however, saw strong growth. The most prominent rate of growth was recorded in 2018 with an increase of 89%. The exports peaked at $X in 2019; however, from 2020 to 2021, the exports failed to regain momentum.

Exports by Country

Oman (X tons), Palestine (X tons) and Iraq (X tons) were the main destinations of waffle and wafer exports from Egypt, together accounting for 66% of total exports. These countries were followed by Jordan, Libya, Turkey, Yemen, Saudi Arabia and the United Arab Emirates, which together accounted for a further 31%.

From 2012 to 2021, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by Turkey (with a CAGR of +93.3%), while the other leaders experienced more modest paces of growth.

In value terms, Palestine ($X), Iraq ($X) and Jordan ($X) constituted the largest markets for waffle and wafer exported from Egypt worldwide, together comprising 70% of total exports. These countries were followed by Libya, Oman, Yemen, Saudi Arabia, Turkey and the United Arab Emirates, which together accounted for a further 25%.

Among the main countries of destination, Turkey, with a CAGR of +98.4%, saw the highest rates of growth with regard to 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

In 2021, the average waffle and wafer export price amounted to $X per ton, increasing by 29% against the previous year. In general, the export price recorded a noticeable expansion. The pace of growth was the most pronounced in 2020 when the average export price increased by 93% against the previous year. The export price peaked in 2021 and is expected to retain growth in years to come.

There were significant differences in the average prices for the major external markets. In 2021, the country with the highest price was Saudi Arabia ($X per ton), while the average price for exports to Oman ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to Jordan (+6.0%), while the prices for the other major destinations experienced more modest paces of growth.

Waffle And Wafer Imports

Imports into Egypt

In 2021, overseas purchases of waffles and wafers increased by 37% to X tons, rising for the fourth year in a row after three years of decline. Overall, imports showed moderate growth. The pace of growth was the most pronounced in 2014 when imports increased by 69% against the previous year. As a result, imports reached the peak of X tons. From 2015 to 2021, the growth of imports remained at a somewhat lower figure.

In value terms, waffle and wafer imports soared to $X in 2021. Over the period under review, imports enjoyed prominent growth. The pace of growth was the most pronounced in 2014 with an increase of 93% against the previous year. As a result, imports attained the peak of $X. From 2015 to 2021, the growth of imports failed to regain momentum.

Imports by Country

In 2021, the United Arab Emirates (X tons) constituted the largest supplier of waffle and wafer to Egypt, with a 83% share of total imports. Moreover, waffle and wafer imports from the United Arab Emirates exceeded the figures recorded by the second-largest supplier, Turkey (X tons), more than tenfold. Italy (X tons) ranked third in terms of total imports with a 4.5% share.

From 2012 to 2021, the average annual rate of growth in terms of volume from the United Arab Emirates totaled +9.2%. The remaining supplying countries recorded the following average annual rates of imports growth: Turkey (-4.7% per year) and Italy (-11.3% per year).

In value terms, the United Arab Emirates ($X) constituted the largest supplier of waffles and wafers to Egypt, comprising 85% of total imports. The second position in the ranking was held by Turkey ($X), with a 4.1% share of total imports. It was followed by Italy, with a 4% share.

From 2012 to 2021, the average annual growth rate of value from the United Arab Emirates amounted to +8.3%. The remaining supplying countries recorded the following average annual rates of imports growth: Turkey (+7.5% per year) and Italy (-5.4% per year).

Import Prices by Country

The average waffle and wafer import price stood at $X per ton in 2021, growing by 7.2% against the previous year. Over the last nine years, it increased at an average annual rate of +1.6%. The growth pace was the most rapid in 2017 when the average import price increased by 45%. As a result, import price reached the peak level of $X per ton. From 2018 to 2021, the average import prices remained at a lower figure.

Average prices varied noticeably amongst the major supplying countries. In 2021, the countries with the highest prices were the United Arab Emirates ($X per ton) and Bulgaria ($X per ton), while the price for Italy ($X per ton) and the UK ($X per ton) were amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Austria (+27.4%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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