Iraq: Market for Sweet Biscuits, Waffles and Wafers 2024

Market Size for Sweet Biscuits, Waffles and Wafers in Iraq

The Iraqi market for sweet biscuits, waffles and wafers expanded modestly to $X in 2021, increasing by 4.8% against the previous year. This figure reflects the total revenues of producers and importers (excluding logistics costs, retail marketing costs, and retailers' margins, which will be included in the final consumer price). Over the period under review, the total consumption indicated a notable increase from 2012 to 2021: its value increased at an average annual rate of +4.6% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, consumption increased by +9.7% against 2019 indices. Sweet biscuit, waffle and wafer consumption peaked at $X in 2018; however, from 2019 to 2021, consumption remained at a lower figure.

Exports of Sweet Biscuits, Waffles and Wafers

Exports from Iraq

In 2021, overseas shipments of sweet biscuits, waffles and wafers decreased by -20.7% to X tons, falling for the second consecutive year after two years of growth. Overall, exports continue to indicate a deep setback. The pace of growth appeared the most rapid in 2014 when exports increased by 141% against the previous year. As a result, the exports attained the peak of X tons. From 2015 to 2021, the growth of the exports remained at a lower figure.

In value terms, sweet biscuit, waffle and wafer exports contracted significantly to $X in 2021. Over the period under review, exports continue to indicate a deep reduction. The growth pace was the most rapid in 2014 when exports increased by 151%. As a result, the exports attained the peak of $X. From 2015 to 2021, the growth of the exports remained at a lower figure.

Exports by Country

Turkey (X tons), the UK (X tons) and the United Arab Emirates (X tons) were the main destinations of sweet biscuit, waffle and wafer exports from Iraq, with a combined 99% share of total exports.

From 2012 to 2021, the biggest increases were recorded for Turkey (with a CAGR of +26.4%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, Turkey ($X) remains the key foreign market for sweet biscuits, waffles and wafers exports from Iraq, comprising 57% of total exports. The second position in the ranking was taken by the UK ($X), with a 23% share of total exports. It was followed by the United Arab Emirates, with a 17% share.

From 2012 to 2021, the average annual rate of growth in terms of value to Turkey stood at +14.5%. Exports to the other major destinations recorded the following average annual rates of exports growth: the UK (0.0% per year) and the United Arab Emirates (0.0% per year).

Export Prices by Country

In 2021, the average export price for sweet biscuits, waffles and wafers amounted to $X per ton, dropping by -40.8% against the previous year. Over the period under review, the export price continues to indicate a perceptible downturn. The pace of growth appeared the most rapid in 2015 when the average export price increased by 77% against the previous year. As a result, the export price reached the peak level of $X per ton. From 2016 to 2021, the average export prices remained at a somewhat lower figure.

There were significant differences in the average prices for the major foreign markets. In 2021, amid the top suppliers, the country with the highest price was Angola ($X per ton), while the average price for exports to the United Arab Emirates ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to Angola (+7.6%).

Imports of Sweet Biscuits, Waffles and Wafers

Imports into Iraq

In 2021, the amount of sweet biscuits, waffles and wafers imported into Iraq totaled X tons, approximately reflecting the previous year's figure. Over the period under review, total imports indicated pronounced growth from 2012 to 2021: its volume increased at an average annual rate of +3.7% 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 +5.2% against 2019 indices. The most prominent rate of growth was recorded in 2015 with an increase of 44% against the previous year. Imports peaked at X tons in 2018; however, from 2019 to 2021, imports failed to regain momentum.

In value terms, sweet biscuit, waffle and wafer imports rose sharply to $X in 2021. Overall, total imports indicated a measured increase from 2012 to 2021: its value increased at an average annual rate of +4.8% 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 +10.7% against 2019 indices. The pace of growth was the most pronounced in 2015 with an increase of 39%. Over the period under review, imports attained the maximum at $X in 2018; however, from 2019 to 2021, imports failed to regain momentum.

Imports by Country

In 2021, Turkey (X tons) constituted the largest supplier of sweet biscuit, waffle and wafer to Iraq, with a 71% share of total imports. Moreover, sweet biscuit, waffle and wafer imports from Turkey exceeded the figures recorded by the second-largest supplier, Iran (X tons), fivefold. Saudi Arabia (X tons) ranked third in terms of total imports with a 3.1% share.

From 2012 to 2021, the average annual growth rate of volume from Turkey stood at +3.1%. The remaining supplying countries recorded the following average annual rates of imports growth: Iran (+15.5% per year) and Saudi Arabia (-2.9% per year).

In value terms, Turkey ($X) constituted the largest supplier of sweet biscuits, waffles and wafers to Iraq, comprising 70% of total imports. The second position in the ranking was held by Iran ($X), with a 12% share of total imports. It was followed by Jordan, with a 2% share.

From 2012 to 2021, the average annual rate of growth in terms of value from Turkey stood at +2.9%. The remaining supplying countries recorded the following average annual rates of imports growth: Iran (+15.2% per year) and Jordan (-5.7% per year).

Import Prices by Country

In 2021, the average import price for sweet biscuits, waffles and wafers amounted to $X per ton, growing by 5.9% against the previous year. Over the period from 2012 to 2021, it increased at an average annual rate of +1.0%. As a result, import price reached 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 2021, amid the top importers, the country with the highest price was Jordan ($X per ton), while the price for Saudi Arabia ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Saudi Arabia (+10.9%), while the prices for the other major suppliers experienced mixed trend patterns.

Source: IndexBox Platform

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