GCC: Market for Sweet Biscuits, Waffles and Wafers 2024

Market Size for Sweet Biscuits, Waffles and Wafers in GCC

The GCC market for sweet biscuits, waffles and wafers amounted to $X in 2021, increasing by 3.8% against the previous year. The market value increased at an average annual rate of +4.9% from 2012 to 2021; the trend pattern indicated some noticeable fluctuations being recorded in certain years. The level of consumption peaked in 2021 and is expected to retain growth in the immediate term.

Production of Sweet Biscuits, Waffles and Wafers in GCC

In value terms, sweet biscuit, waffle and wafer production declined modestly to $X in 2021 estimated in export price. The total output value increased at an average annual rate of +3.2% over the period from 2012 to 2021; the trend pattern remained consistent, with only minor fluctuations being observed in certain years. The pace of growth was the most pronounced in 2017 with an increase of 12%. Over the period under review, production attained the maximum level at $X in 2020, and then reduced in the following year.

Exports of Sweet Biscuits, Waffles and Wafers

Exports in GCC

In 2021, the amount of sweet biscuits, waffles and wafers exported in GCC shrank modestly to X tons, waning by -3% against 2020 figures. Over the period under review, exports saw a slight curtailment. The most prominent rate of growth was recorded in 2014 with an increase of 38%. As a result, the exports attained the peak of X tons. From 2015 to 2021, the growth of the exports remained at a somewhat lower figure.

In value terms, sweet biscuit, waffle and wafer exports expanded to $X in 2021. The total export value increased at an average annual rate of +5.0% over the period from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The most prominent rate of growth was recorded in 2014 when exports increased by 22%. Over the period under review, the exports hit record highs at $X in 2015; however, from 2016 to 2021, the exports remained at a lower figure.

Exports by Country

The United Arab Emirates was the largest exporting country with an export of around X tons, which recorded 53% of total exports. Saudi Arabia (X tons) took a 30% share (based on physical terms) of total exports, which put it in second place, followed by Oman (15%).

From 2012 to 2021, the biggest increases were recorded for Oman (with a CAGR of +2.1%), while shipments for the other leaders experienced mixed trends in the exports figures.

In value terms, the United Arab Emirates ($X) remains the largest sweet biscuit, waffle and wafer supplier in GCC, comprising 67% of total exports. The second position in the ranking was held by Saudi Arabia ($X), with a 20% share of total exports.

In the United Arab Emirates, sweet biscuit, waffle and wafer exports increased at an average annual rate of +7.8% over the period from 2012-2021. In the other countries, the average annual rates were as follows: Saudi Arabia (+0.3% per year) and Oman (+2.6% per year).

Export Prices by Country

The export price in GCC stood at $X per ton in 2021, with an increase of 5.8% against the previous year. Export price indicated a strong expansion from 2012 to 2021: its price increased at an average annual rate of +6.4% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, sweet biscuit, waffle and wafer export price increased by +74.4% against 2012 indices. The pace of growth was the most pronounced in 2015 an increase of 39%. The level of export peaked in 2021 and is likely to see gradual growth in the near future.

There were significant differences in the average prices amongst the major exporting countries. In 2021, 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 2021, the most notable rate of growth in terms of prices was attained by the United Arab Emirates (+7.4%), while the other leaders experienced more modest paces of growth.

Imports of Sweet Biscuits, Waffles and Wafers

Imports in GCC

In 2021, after four years of growth, there was decline in supplies from abroad of sweet biscuits, waffles and wafers, when their volume decreased by -0.5% to X tons. The total import volume increased at an average annual rate of +5.2% 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 2015 with an increase of 20%. Over the period under review, imports hit record highs at X tons in 2020, and then contracted slightly in the following year.

In value terms, sweet biscuit, waffle and wafer imports rose notably to $X in 2021. Total imports indicated a prominent expansion from 2012 to 2021: its value increased at an average annual rate of +5.9% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, imports increased by +24.4% against 2015 indices. The pace of growth appeared the most rapid in 2015 when imports increased by 20% against the previous year. Over the period under review, imports reached the maximum in 2021 and are expected to retain growth in the immediate term.

Imports by Country

In 2021, Saudi Arabia (X tons) and the United Arab Emirates (X tons) represented the largest importers of sweet biscuits, waffles and wafers in GCC, together amounting to near 69% of total imports. 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 27% share of total imports. Bahrain (X tons) followed a long way behind the leaders.

From 2012 to 2021, the biggest increases were recorded for Oman (with a CAGR of +16.9%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, Saudi Arabia ($X), the United Arab Emirates ($X) and Kuwait ($X) were the countries with the highest levels of imports in 2021, together accounting for 83% of total imports. These countries were followed by Oman, Qatar and Bahrain, which together accounted for a further 17%.

In terms of the main importing countries, Oman, with a CAGR of +13.1%, saw the highest growth rate of 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 import price in GCC stood at $X per ton in 2021, picking up by 7.6% against the previous year. Over the period under review, the import price recorded a relatively flat trend pattern. The level of import peaked at $X per ton in 2018; afterwards, it flattened through to 2021.

Prices varied noticeably by country of destination: 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 2021, the most notable rate of growth in terms of prices was attained by Kuwait (+5.0%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform