Guatemala: Market for Gingerbread, Sweet Biscuits and Waffles 2024

Market Size for Gingerbread, Sweet Biscuits and Waffles in Guatemala

In 2022, the Guatemalan market for gingerbread, sweet biscuits and waffles decreased by -2% to $X, falling for the second year in a row after two years of growth. Over the period under review, consumption continues to indicate a relatively flat trend pattern. Gingerbread, sweet biscuit and waffle consumption peaked at $X in 2020; however, from 2021 to 2022, consumption failed to regain momentum.

Production of Gingerbread, Sweet Biscuits and Waffles in Guatemala

In value terms, gingerbread, sweet biscuit and waffle production expanded modestly to $X in 2022 estimated in export price. The total output value increased at an average annual rate of +1.5% over the period from 2012 to 2022; the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The growth pace was the most rapid in 2015 with an increase of 20%. Gingerbread, sweet biscuit and waffle production peaked at $X in 2020; however, from 2021 to 2022, production remained at a lower figure.

Exports of Gingerbread, Sweet Biscuits and Waffles

Exports from Guatemala

In 2022, shipments abroad of gingerbread, sweet biscuits and waffles increased by 13% to X tons, rising for the third year in a row after two years of decline. Overall, total exports indicated strong growth from 2012 to 2022: its volume increased at an average annual rate of +7.3% 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 +58.2% against 2019 indices. The pace of growth was the most pronounced in 2014 with an increase of 25%. Over the period under review, the exports attained the peak figure in 2022 and are expected to retain growth in years to come.

In value terms, gingerbread, sweet biscuit and waffle exports skyrocketed to $X in 2022. Over the period under review, exports posted a remarkable increase. As a result, the exports reached the peak and are likely to continue growth in the immediate term.

Exports by Country

Honduras (X tons), Nicaragua (X tons) and the Dominican Republic (X tons) were the main destinations of gingerbread, sweet biscuit and waffle exports from Guatemala, together comprising 60% of total exports.

From 2012 to 2022, the biggest increases were recorded for the Dominican Republic (with a CAGR of +13.1%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, Honduras ($X), Nicaragua ($X) and the Dominican Republic ($X) were the largest markets for gingerbread, sweet biscuit and waffle exported from Guatemala worldwide, with a combined 57% share of total exports.

Among the main countries of destination, the Dominican Republic, with a CAGR of +18.4%, 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

In 2022, the average export price for gingerbread, sweet biscuits and waffles amounted to $X per ton, jumping by 20% against the previous year. Over the last decade, it increased at an average annual rate of +3.1%. As a result, the export price reached the peak level and is likely to continue growth in the immediate term.

Average prices varied somewhat for the major overseas markets. In 2022, amid the top suppliers, the highest price was recorded for prices to El Salvador ($X per ton) and Mexico ($X per ton), while the average price for exports to Cuba ($X per ton) and Honduras ($X per ton) were amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to the Dominican Republic (+4.7%), while the prices for the other major destinations experienced more modest paces of growth.

Imports of Gingerbread, Sweet Biscuits and Waffles

Imports into Guatemala

In 2022, gingerbread, sweet biscuit and waffle imports into Guatemala was estimated at X tons, almost unchanged from the previous year. The total import volume increased at an average annual rate of +2.3% from 2012 to 2022; the trend pattern remained consistent, with somewhat noticeable fluctuations throughout the analyzed period. The pace of growth was the most pronounced in 2014 with an increase of 19% against the previous year. Imports peaked at X tons in 2019; afterwards, it flattened through to 2022.

In value terms, gingerbread, sweet biscuit and waffle imports rose notably to $X in 2022. The total import value increased at an average annual rate of +4.4% from 2012 to 2022; the trend pattern indicated some noticeable fluctuations being recorded in certain years. As a result, imports reached the peak and are likely to continue growth in the immediate term.

Imports by Country

Costa Rica (X tons), El Salvador (X tons) and Mexico (X tons) were the main suppliers of gingerbread, sweet biscuit and waffle imports to Guatemala, with a combined 74% share of total imports. Honduras, Peru, Colombia and the United States lagged somewhat behind, together accounting for a further 21%.

From 2012 to 2022, the biggest increases were recorded for Peru (with a CAGR of +36.6%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, the largest gingerbread, sweet biscuit and waffle suppliers to Guatemala were Costa Rica ($X), El Salvador ($X) and Mexico ($X), with a combined 70% share of total imports. Honduras, the United States, Colombia and Peru lagged somewhat behind, together accounting for a further 23%.

Peru, with a CAGR of +29.8%, recorded the highest rates of growth with regard to the value of imports, among the main suppliers over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

In 2022, the average import price for gingerbread, sweet biscuits and waffles amounted to $X per ton, rising by 15% against the previous year. Over the last decade, it increased at an average annual rate of +2.0%. As a result, import price attained the peak level and is likely to continue growth in the immediate term.

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 the United States ($X per ton), while the price for Peru ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Mexico (+3.1%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform