GCC: Market for Gingerbread, Sweet Biscuits and Waffles 2024

Market Size for Gingerbread, Sweet Biscuits and Waffles in GCC

The GCC market for gingerbread, sweet biscuits and waffles was estimated at $X in 2022, with an increase of 1.7% against the previous year. The market value increased at an average annual rate of +4.0% from 2012 to 2022; the trend pattern indicated some noticeable fluctuations being recorded in certain years. Over the period under review, the market reached the maximum level at $X in 2020; however, from 2021 to 2022, consumption remained at a lower figure.

Production of Gingerbread, Sweet Biscuits and Waffles in GCC

In value terms, gingerbread, sweet biscuit and waffle production rose modestly to $X in 2022 estimated in export price. The total output value increased at an average annual rate of +4.8% over the period from 2012 to 2022; the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The pace of growth was the most pronounced in 2020 when the production volume increased by 21% against the previous year. As a result, production attained the peak level of $X; afterwards, it flattened through to 2022.

Exports of Gingerbread, Sweet Biscuits and Waffles

Exports in GCC

After five years of growth, overseas shipments of gingerbread, sweet biscuits and waffles decreased by -0.6% to X tons in 2022. The total export volume increased at an average annual rate of +1.7% from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The most prominent rate of growth was recorded in 2014 when exports increased by 30%. As a result, the exports reached the peak of X tons. From 2015 to 2022, the growth of the exports remained at a lower figure.

In value terms, gingerbread, sweet biscuit and waffle exports reduced slightly to $X in 2022. Total exports indicated strong growth from 2012 to 2022: its value increased at an average annual rate of +7.5% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, exports increased by +52.2% against 2016 indices. The most prominent rate of growth was recorded in 2014 with an increase of 23%. Over the period under review, the exports reached the peak figure at $X in 2021, and then contracted in the following year.

Exports by Country

The United Arab Emirates represented the major exporting country with an export of about X tons, which recorded 41% of total exports. Saudi Arabia (X tons) took a 25% share (based on physical terms) of total exports, which put it in second place, followed by Bahrain (20%) and Oman (13%).

From 2012 to 2022, the biggest increases were recorded for Bahrain (with a CAGR of +66.9%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, the United Arab Emirates ($X) remains the largest gingerbread, sweet biscuit and waffle supplier in GCC, comprising 50% of total exports. The second position in the ranking was taken by Bahrain ($X), with a 24% share of total exports. It was followed by Saudi Arabia, with a 16% share.

In the United Arab Emirates, gingerbread, sweet biscuit and waffle exports expanded at an average annual rate of +6.7% over the period from 2012-2022. The remaining exporting countries recorded the following average annual rates of exports growth: Bahrain (+70.4% per year) and Saudi Arabia (+0.7% per year).

Export Prices by Country

In 2022, the export price in GCC amounted to $X per ton, standing approx. at the previous year. Export price indicated buoyant growth from 2012 to 2022: its price increased at an average annual rate of +5.7% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, gingerbread, sweet biscuit and waffle export price increased by +74.1% against 2012 indices. The pace of growth appeared the most rapid in 2015 an increase of 26%. Over the period under review, the export prices hit record highs at $X per ton in 2021, and then fell modestly in the following year.

There were significant differences in the average prices amongst the major exporting countries. In 2022, amid the top suppliers, the country with the highest price was the United Arab Emirates ($X per ton), while Saudi Arabia ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by the United Arab Emirates (+6.0%), while the other leaders experienced more modest paces of growth.

Imports of Gingerbread, Sweet Biscuits and Waffles

Imports in GCC

In 2022, purchases abroad of gingerbread, sweet biscuits and waffles decreased by -13.2% to X tons, falling for the second year in a row after four years of growth. Total imports indicated a tangible expansion from 2012 to 2022: its volume increased at an average annual rate of +3.5% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports decreased by -14.9% against 2020 indices. The pace of growth was the most pronounced in 2015 when imports increased by 20%. The volume of import peaked at X tons in 2020; however, from 2021 to 2022, imports stood at a somewhat lower figure.

In value terms, gingerbread, sweet biscuit and waffle imports declined sharply to $X in 2022. Total imports indicated temperate growth from 2012 to 2022: its value increased at an average annual rate of +3.2% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. The most prominent rate of growth was recorded in 2015 with an increase of 20%. The level of import peaked at $X in 2021, and then dropped rapidly in the following year.

Imports by Country

The United Arab Emirates (X tons) and Saudi Arabia (X tons) represented roughly 62% of total imports in 2022. Oman (X tons) held the next position in the ranking, distantly followed by Kuwait (X tons) and Qatar (X tons). All these countries together took near 34% share of total imports. Bahrain (X tons) followed a long way behind the leaders.

From 2012 to 2022, the most notable rate of growth in terms of purchases, amongst the key importing countries, was attained by Oman (with a CAGR of +15.4%), while imports for the other leaders experienced more modest paces of growth.

In value terms, the United Arab Emirates ($X), Saudi Arabia ($X) and Kuwait ($X) were the countries with the highest levels of imports in 2022, together comprising 75% of total imports. Oman, Qatar and Bahrain lagged somewhat behind, together accounting for a further 25%.

Oman, with a CAGR of +12.5%, recorded the highest growth rate of the value of imports, among the main importing countries over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

In 2022, the import price in GCC amounted to $X per ton, reducing by -9% against the previous year. In general, the import price continues to indicate a relatively flat trend pattern. The pace of growth was the most pronounced in 2021 an increase of 4.6%. The level of import peaked at $X per ton in 2018; however, from 2019 to 2022, import prices remained at a lower figure.

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

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Kuwait (+4.2%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform