Hungary: Waffle And Wafer Market 2024

Waffle And Wafer Market Size in Hungary

For the sixth consecutive year, the Hungarian waffle and wafer market recorded growth in sales value, which increased by 37% to $X in 2021. Over the period under review, consumption recorded a strong increase. Waffle and wafer consumption peaked in 2021 and is expected to retain growth in the immediate term.

Waffle And Wafer Production in Hungary

In value terms, waffle and wafer production surged to $X in 2021 estimated in export price. Over the period under review, production saw a prominent increase. The most prominent rate of growth was recorded in 2018 when the production volume increased by 500%. Over the period under review, production hit record highs in 2021 and is expected to retain growth in the near future.

Waffle And Wafer Exports

Exports from Hungary

In 2021, the amount of waffles and wafers exported from Hungary rose notably to X tons, growing by 13% compared with the previous year. Over the period under review, total exports indicated a prominent expansion from 2012 to 2021: its volume increased at an average annual rate of +5.6% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, exports decreased by -15.4% against 2019 indices. The most prominent rate of growth was recorded in 2019 with an increase of 55%. As a result, the exports attained the peak of X tons. From 2020 to 2021, the growth of the exports failed to regain momentum.

In value terms, waffle and wafer exports surged to $X in 2021. Overall, exports saw buoyant growth. The pace of growth appeared the most rapid in 2019 with an increase of 53%. The exports peaked in 2021 and are expected to retain growth in the immediate term.

Exports by Country

Romania (X tons), Austria (X tons) and Slovakia (X tons) were the main destinations of waffle and wafer exports from Hungary, with a combined 40% share of total exports. Germany, the Czech Republic, Belgium, Poland, Spain, Serbia, the Netherlands, Italy, France and Greece lagged somewhat behind, together comprising a further 52%.

From 2012 to 2021, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by Spain (with a CAGR of +192.7%), while the other leaders experienced more modest paces of growth.

In value terms, the largest markets for waffle and wafer exported from Hungary were Romania ($X), Poland ($X) and Germany ($X), together accounting for 36% of total exports. Spain, Austria, the Czech Republic, Belgium, Slovakia, Serbia, the Netherlands, Italy, France and Greece lagged somewhat behind, together accounting for a further 53%.

Among the main countries of destination, Spain, with a CAGR of +202.6%, recorded 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 waffle and wafer export price stood at $X per ton in 2021, increasing by 14% against the previous year. Over the period under review, export price indicated measured growth from 2012 to 2021: its price increased at an average annual rate of +2.1% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, waffle and wafer export price increased by +77.7% against 2015 indices. The growth pace was the most rapid in 2018 an increase of 21% against the previous year. The export price peaked in 2021 and is likely to see gradual growth in the near future.

There were significant differences in the average prices for the major overseas markets. In 2021, the country with the highest price was Spain ($X per ton), while the average price for exports to Slovakia ($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 Greece (+13.7%), while the prices for the other major destinations experienced more modest paces of growth.

Waffle And Wafer Imports

Imports into Hungary

In 2021, supplies from abroad of waffles and wafers increased by 11% to X tons, rising for the sixth year in a row after two years of decline. Over the period under review, total imports indicated a prominent expansion from 2012 to 2021: its volume increased at an average annual rate of +5.1% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, imports increased by +73.8% against 2015 indices. The most prominent rate of growth was recorded in 2016 when imports increased by 16%. Over the period under review, imports hit record highs in 2021 and are likely to continue growth in years to come.

In value terms, waffle and wafer imports soared to $X in 2021. Overall, total imports indicated strong growth from 2012 to 2021: its value increased at an average annual rate of +6.4% 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 +106.6% against 2015 indices. As a result, imports attained the peak and are likely to continue growth in the immediate term.

Imports by Country

Poland (X tons), Germany (X tons) and Ukraine (X tons) were the main suppliers of waffle and wafer imports to Hungary, with a combined 66% share of total imports. These countries were followed by Austria, Italy, Bosnia and Herzegovina, Bulgaria, the Czech Republic and Romania, which together accounted for a further 29%.

From 2012 to 2021, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by Bosnia and Herzegovina (with a CAGR of +410.9%), while imports for the other leaders experienced more modest paces of growth.

In value terms, the largest waffle and wafer suppliers to Hungary were Poland ($X), Germany ($X) and Ukraine ($X), together comprising 72% of total imports. These countries were followed by Austria, Italy, Bulgaria, Bosnia and Herzegovina, the Czech Republic and Romania, which together accounted for a further 23%.

Bosnia and Herzegovina, with a CAGR of +379.3%, saw the highest growth rate of the value of imports, in terms of the main suppliers over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

The average waffle and wafer import price stood at $X per ton in 2021, with an increase of 7.7% against the previous year. Over the period from 2012 to 2021, it increased at an average annual rate of +1.3%. The pace of growth appeared the most rapid in 2017 an increase of 12% against the previous year. The import price peaked at $X per ton in 2014; however, from 2015 to 2021, import prices remained at a lower figure.

Prices varied noticeably country of origin: the country with the highest price was Germany ($X per ton), while the price for Bosnia and Herzegovina ($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 Czech Republic (+3.6%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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