Estonia: Market for Gingerbread, Sweet Biscuits and Waffles 2024

Market Size for Gingerbread, Sweet Biscuits and Waffles in Estonia

In 2022, after three years of growth, there was decline in the Estonian market for gingerbread, sweet biscuits and waffles, when its value decreased by -3% to $X. In general, consumption, however, showed a relatively flat trend pattern. As a result, consumption reached the peak level of $X. From 2018 to 2022, the growth of the market remained at a lower figure.

Production of Gingerbread, Sweet Biscuits and Waffles in Estonia

In value terms, gingerbread, sweet biscuit and waffle production soared to $X in 2022 estimated in export price. In general, production saw a mild descent. The growth pace was the most rapid in 2014 when the production volume increased by 30%. As a result, production attained the peak level of $X. From 2015 to 2022, production growth remained at a somewhat lower figure.

Exports of Gingerbread, Sweet Biscuits and Waffles

Exports from Estonia

In 2022, overseas shipments of gingerbread, sweet biscuits and waffles increased by 35% to X tons, rising for the second consecutive year after two years of decline. Overall, exports saw a strong increase. As a result, the exports reached the peak and are likely to continue growth in the immediate term.

In value terms, gingerbread, sweet biscuit and waffle exports skyrocketed to $X in 2022. Over the period under review, exports continue to indicate a prominent increase. The most prominent rate of growth was recorded in 2021 when exports increased by 38%. Over the period under review, the exports reached the peak figure in 2022 and are likely to see steady growth in the near future.

Exports by Country

Latvia (X tons), Finland (X tons) and Lithuania (X tons) were the main destinations of gingerbread, sweet biscuit and waffle exports from Estonia, with a combined 87% share of total exports.

From 2012 to 2022, the biggest increases were recorded for Latvia (with a CAGR of +15.6%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, Latvia ($X), Finland ($X) and Lithuania ($X) appeared to be the largest markets for gingerbread, sweet biscuit and waffle exported from Estonia worldwide, with a combined 82% share of total exports.

Among the main countries of destination, Latvia, with a CAGR of +13.3%, 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, shrinking by -14.6% against the previous year. Over the last decade, it increased at an average annual rate of +1.0%. The most prominent rate of growth was recorded in 2019 an increase of 22%. The export price peaked at $X per ton in 2021, and then fell in the following year.

There were significant differences in the average prices for the major foreign markets. In 2022, amid the top suppliers, the country with the highest price was Sweden ($X per ton), while the average price for exports to Germany ($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 Sweden (+3.6%), while the prices for the other major destinations experienced more modest paces of growth.

Imports of Gingerbread, Sweet Biscuits and Waffles

Imports into Estonia

In 2022, supplies from abroad of gingerbread, sweet biscuits and waffles decreased by -2.9% to X tons, falling for the second consecutive year after two years of growth. Overall, imports, however, saw a relatively flat trend pattern. The pace of growth appeared the most rapid in 2016 when imports increased by 15%. Imports peaked at X tons in 2017; however, from 2018 to 2022, imports remained at a lower figure.

In value terms, gingerbread, sweet biscuit and waffle imports expanded slightly to $X in 2022. The total import value increased at an average annual rate of +1.9% from 2012 to 2022; the trend pattern remained relatively stable, with somewhat noticeable fluctuations being observed throughout the analyzed period. The most prominent rate of growth was recorded in 2017 when imports increased by 16% against the previous year. Imports peaked in 2022 and are expected to retain growth in years to come.

Imports by Country

Latvia (X tons), Poland (X tons) and Ukraine (X tons) were the main suppliers of gingerbread, sweet biscuit and waffle imports to Estonia, with a combined 51% share of total imports. Finland, Lithuania, Germany, the Netherlands, Sweden, Moldova and Russia lagged somewhat behind, together accounting for a further 37%.

From 2012 to 2022, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by the Netherlands (with a CAGR of +15.0%), while imports for the other leaders experienced more modest paces of growth.

In value terms, the largest gingerbread, sweet biscuit and waffle suppliers to Estonia were Poland ($X), Latvia ($X) and Finland ($X), together comprising 43% of total imports. Germany, Ukraine, Lithuania, the Netherlands, Sweden, Moldova and Russia lagged somewhat behind, together accounting for a further 38%.

Among the main suppliers, the Netherlands, with a CAGR of +16.9%, recorded the highest rates of growth with regard to 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 average import price for gingerbread, sweet biscuits and waffles stood at $X per ton in 2022, rising by 5.4% against the previous year. In general, the import price showed a relatively flat trend pattern. The pace of growth appeared the most rapid in 2018 an increase of 20% against the previous year. The import price peaked at $X per ton in 2014; however, from 2015 to 2022, import prices failed to regain momentum.

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 Finland ($X per ton), while the price for Moldova ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Lithuania (+4.5%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform