Finland: Market for Sweet Biscuits, Waffles and Wafers 2024

Market Size for Sweet Biscuits, Waffles and Wafers in Finland

In 2021, the Finnish market for sweet biscuits, waffles and wafers decreased by -1.6% to $X, falling for the third consecutive year after two years of growth. In general, consumption saw a noticeable curtailment. The most prominent rate of growth was recorded in 2017 when the market value increased by 7.6%. Sweet biscuit, waffle and wafer consumption peaked at $X in 2012; however, from 2013 to 2021, consumption failed to regain momentum.

Production of Sweet Biscuits, Waffles and Wafers in Finland

In value terms, sweet biscuit, waffle and wafer production fell to $X in 2021 estimated in export price. In general, production continues to indicate a relatively flat trend pattern. The pace of growth appeared the most rapid in 2014 when the production volume increased by 25% against the previous year. Sweet biscuit, waffle and wafer production peaked at $X in 2019; however, from 2020 to 2021, production remained at a lower figure.

Exports of Sweet Biscuits, Waffles and Wafers

Exports from Finland

In 2021, overseas shipments of sweet biscuits, waffles and wafers increased by 1.8% to X tons, rising for the second consecutive year after three years of decline. The total export volume increased at an average annual rate of +1.8% from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The most prominent rate of growth was recorded in 2016 when exports increased by 21%. As a result, the exports reached the peak of X tons. From 2017 to 2021, the growth of the exports remained at a somewhat lower figure.

In value terms, sweet biscuit, waffle and wafer exports reached $X in 2021. The total export value increased at an average annual rate of +4.8% over the period from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The pace of growth was the most pronounced in 2014 when exports increased by 39% against the previous year. As a result, the exports attained the peak of $X. From 2015 to 2021, the growth of the exports remained at a lower figure.

Exports by Country

Estonia (X tons), Sweden (X tons) and Belgium (X tons) were the main destinations of sweet biscuit, waffle and wafer exports from Finland, with a combined 71% share of total exports.

From 2012 to 2021, the biggest increases were recorded for Belgium (with a CAGR of +105.8%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, Estonia ($X), Sweden ($X) and Belgium ($X) were the largest markets for sweet biscuit, waffle and wafer exported from Finland worldwide, with a combined 67% share of total exports.

Belgium, with a CAGR of +83.6%, saw the highest rates of growth with regard to the value of exports, among the main countries of destination 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 export price for sweet biscuits, waffles and wafers amounted to $X per ton, leveling off at the previous year. Over the period from 2012 to 2021, it increased at an average annual rate of +2.9%. The growth pace was the most rapid in 2014 an increase of 20% against the previous year. As a result, the export price reached the peak level of $X per ton. From 2015 to 2021, the average export prices remained at a lower figure.

There were significant differences in the average prices for the major foreign markets. In 2021, amid the top suppliers, the country with the highest price was the Netherlands ($X per ton), while the average price for exports to Latvia ($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 Russia (+4.7%), while the prices for the other major destinations experienced more modest paces of growth.

Imports of Sweet Biscuits, Waffles and Wafers

Imports into Finland

In 2021, the amount of sweet biscuits, waffles and wafers imported into Finland reduced to X tons, with a decrease of -4.8% against the previous year's figure. Over the period under review, imports, however, saw a relatively flat trend pattern. The most prominent rate of growth was recorded in 2020 when imports increased by 13% against the previous year. Over the period under review, imports reached the peak figure at X tons in 2017; however, from 2018 to 2021, imports remained at a lower figure.

In value terms, sweet biscuit, waffle and wafer imports reached $X in 2021. In general, imports saw a relatively flat trend pattern. The pace of growth appeared the most rapid in 2017 with an increase of 11%. Over the period under review, imports reached the peak figure at $X in 2013; however, from 2014 to 2021, imports remained at a lower figure.

Imports by Country

Sweden (X tons), the Netherlands (X tons) and Germany (X tons) were the main suppliers of sweet biscuit, waffle and wafer imports to Finland, together comprising 75% of total imports. Poland, the Czech Republic, Spain, Belgium and the UK lagged somewhat behind, together accounting for a further 16%.

From 2012 to 2021, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by the Czech Republic (with a CAGR of +15.5%), while imports for the other leaders experienced more modest paces of growth.

In value terms, Sweden ($X), the Netherlands ($X) and Germany ($X) constituted the largest sweet biscuit, waffle and wafer suppliers to Finland, with a combined 72% share of total imports. Poland, Belgium, Spain, the Czech Republic and the UK lagged somewhat behind, together accounting for a further 14%.

Among the main suppliers, the Czech Republic, with a CAGR of +9.7%, 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

In 2021, the average import price for sweet biscuits, waffles and wafers amounted to $X per ton, rising by 5.7% against the previous year. Over the period under review, the import price, however, recorded a relatively flat trend pattern. The most prominent rate of growth was recorded in 2019 when the average import price increased by 13% against the previous year. Over the period under review, average import prices hit record highs at $X per ton in 2013; however, from 2014 to 2021, import prices remained at a lower figure.

There were significant differences in the average prices amongst the major supplying countries. In 2021, amid the top importers, the country with the highest price was the UK ($X per ton), while the price for Poland ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by the UK (+6.2%), while the prices for the other major suppliers experienced mixed trend patterns.

Source: IndexBox Platform

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