Iran: Waffle And Wafer Market 2024

Waffle And Wafer Market Size in Iran

The Iranian waffle and wafer market amounted to $X in 2021, rising by 12% against the previous year. The market value increased at an average annual rate of +2.4% from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. Waffle and wafer consumption peaked at $X in 2019; however, from 2020 to 2021, consumption failed to regain momentum.

Waffle And Wafer Production in Iran

In value terms, waffle and wafer production skyrocketed to $X in 2021 estimated in export price. The total output value increased at an average annual rate of +2.6% 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 2018 with an increase of 32% against the previous year. Waffle and wafer production peaked at $X in 2019; however, from 2020 to 2021, production failed to regain momentum.

Waffle And Wafer Exports

Exports from Iran

In 2021, overseas shipments of waffles and wafers increased by 35% to X tons, rising for the third consecutive year after three years of decline. Over the period under review, exports saw a resilient expansion. The pace of growth was the most pronounced in 2013 with an increase of 105% against the previous year. As a result, the exports reached the peak of X tons. From 2014 to 2021, the growth of the exports remained at a somewhat lower figure.

In value terms, waffle and wafer exports surged to $X in 2021. Overall, exports posted a resilient expansion. The growth pace was the most rapid in 2013 with an increase of 118% against the previous year. As a result, the exports reached the peak of $X. From 2014 to 2021, the growth of the exports remained at a lower figure.

Exports by Country

Azerbaijan (X tons), the United Arab Emirates (X tons) and Tajikistan (X tons) were the main destinations of waffle and wafer exports from Iran, with a combined 69% share of total exports.

From 2012 to 2021, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by Azerbaijan (with a CAGR of +95.2%), while the other leaders experienced more modest paces of growth.

In value terms, the largest markets for waffle and wafer exported from Iran were Azerbaijan ($X), the United Arab Emirates ($X) and Tajikistan ($X), together comprising 68% of total exports.

Azerbaijan, with a CAGR of +120.3%, saw the highest rates of growth with regard to the value of exports, in terms of 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

The average waffle and wafer export price stood at $X per ton in 2021, flattening at the previous year. Over the period under review, the export price showed a relatively flat trend pattern. The most prominent rate of growth was recorded in 2018 when the average export price increased by 19% against the previous year. As a result, the export price attained the peak level of $X per ton. From 2019 to 2021, the average export prices remained at a lower figure.

There were significant differences in the average prices for the major overseas markets. In 2021, the country with the highest price was Lebanon ($X per ton), while the average price for exports to Armenia ($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 Azerbaijan (+12.8%), while the prices for the other major destinations experienced more modest paces of growth.

Waffle And Wafer Imports

Imports into Iran

In 2021, overseas purchases of waffles and wafers increased by 2.4% to X tons, rising for the second year in a row after two years of decline. Over the period under review, imports saw strong growth. The pace of growth was the most pronounced in 2015 when imports increased by 104%. Over the period under review, imports attained the peak figure at X tons in 2017; however, from 2018 to 2021, imports stood at a somewhat lower figure.

In value terms, waffle and wafer imports shrank to $X in 2021. In general, imports continue to indicate a tangible increase. The growth pace was the most rapid in 2015 with an increase of 148%. Imports peaked at $X in 2017; however, from 2018 to 2021, imports failed to regain momentum.

Imports by Country

In 2021, Turkey (X tons) constituted the largest waffle and wafer supplier to Iran, accounting for a 79% share of total imports. Moreover, waffle and wafer imports from Turkey exceeded the figures recorded by the second-largest supplier, the United Arab Emirates (X tons), sixfold. The third position in this ranking was taken by Armenia (X tons), with a 2.9% share.

From 2012 to 2021, the average annual growth rate of volume from Turkey totaled +12.2%. The remaining supplying countries recorded the following average annual rates of imports growth: the United Arab Emirates (-0.1% per year) and Armenia (+40.8% per year).

In value terms, Turkey ($X) constituted the largest supplier of waffles and wafers to Iran, comprising 73% of total imports. The second position in the ranking was held by the United Arab Emirates ($X), with an 11% share of total imports. It was followed by Armenia, with a 6% share.

From 2012 to 2021, the average annual rate of growth in terms of value from Turkey amounted to +10.5%. The remaining supplying countries recorded the following average annual rates of imports growth: the United Arab Emirates (-1.9% per year) and Armenia (+38.0% per year).

Import Prices by Country

In 2021, the average waffle and wafer import price amounted to $X per ton, with a decrease of -4.8% against the previous year. In general, the import price saw a noticeable curtailment. The growth pace was the most rapid in 2015 an increase of 22% against the previous year. Over the period under review, average import prices hit record highs at $X per ton in 2016; however, from 2017 to 2021, import prices stood at a somewhat lower figure.

Prices varied noticeably country of origin: the country with the highest price was Armenia ($X per ton), while the price for the United Arab Emirates ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Indonesia (+1.4%), while the prices for the other major suppliers experienced a decline.

Source: IndexBox Platform

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