Ireland: Waffle And Wafer Market 2024

Waffle And Wafer Market Size in Ireland

The Irish waffle and wafer market rose sharply to $X in 2021, growing by 5.9% 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, consumption, however, showed a significant expansion. Over the period under review, the market attained the peak level in 2021 and is likely to see gradual growth in the immediate term.

Waffle And Wafer Exports

Exports from Ireland

In 2021, overseas shipments of waffles and wafers decreased by -3.4% to X tons, falling for the second consecutive year after three years of growth. In general, exports showed a deep slump. The pace of growth appeared the most rapid in 2018 when exports increased by 116% against the previous year. The exports peaked at X tons in 2012; however, from 2013 to 2021, the exports remained at a lower figure.

In value terms, waffle and wafer exports stood at $X in 2021. Over the period under review, exports saw a abrupt decline. The most prominent rate of growth was recorded in 2018 when exports increased by 189% against the previous year. The exports peaked at $X in 2012; however, from 2013 to 2021, the exports stood at a somewhat lower figure.

Exports by Country

The UK (X tons) was the main destination for waffle and wafer exports from Ireland, accounting for a 94% share of total exports. It was followed by the Netherlands (X tons), with a 2.2% share of total exports.

From 2012 to 2021, the average annual growth rate of volume to the UK amounted to -14.9%.

In value terms, the UK ($X) remains the key foreign market for waffles and wafers exports from Ireland, comprising 95% of total exports. The second position in the ranking was held by the Netherlands ($X), with a 2.5% share of total exports.

From 2012 to 2021, the average annual growth rate of value to the UK amounted to -12.0%.

Export Prices by Country

In 2021, the average waffle and wafer export price amounted to $X per ton, growing by 18% against the previous year. In general, export price indicated a moderate expansion from 2012 to 2021: its price increased at an average annual rate of +3.3% over the last nine-year period. 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 +114.3% against 2019 indices. The most prominent rate of growth was recorded in 2020 when the average export price increased by 81% against the previous year. Over the period under review, the average export prices reached the maximum in 2021 and is likely to see steady growth in the immediate term.

Average prices varied noticeably for the major export markets. In 2021, the country with the highest price was the Netherlands ($X per ton), while the average price for exports to the UK stood at $X per ton.

From 2012 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to the Netherlands (+18.5%).

Waffle And Wafer Imports

Imports into Ireland

In 2021, purchases abroad of waffles and wafers decreased by -10% to X tons, falling for the second consecutive year after three years of growth. Over the period under review, total imports indicated a buoyant expansion from 2012 to 2021: its volume increased at an average annual rate of +5.8% 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 decreased by -20.5% against 2019 indices. The pace of growth was the most pronounced in 2019 with an increase of 28% against the previous year. As a result, imports reached the peak of X tons. From 2020 to 2021, the growth of imports remained at a somewhat lower figure.

In value terms, waffle and wafer imports rose notably to $X in 2021. In general, total imports indicated a strong expansion from 2012 to 2021: its value increased at an average annual rate of +8.2% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, imports decreased by -0.3% against 2019 indices. The growth pace was the most rapid in 2018 when imports increased by 24% against the previous year. Over the period under review, imports reached the maximum at $X in 2019; however, from 2020 to 2021, imports stood at a somewhat lower figure.

Imports by Country

The UK (X tons), Poland (X tons) and Germany (X tons) were the main suppliers of waffle and wafer imports to Ireland, together accounting for 81% of total imports. These countries were followed by Italy, Lithuania, the Czech Republic, Belgium, the Netherlands and France, which together accounted for a further 15%.

From 2012 to 2021, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by the Czech Republic (with a CAGR of +33.1%), while imports for the other leaders experienced more modest paces of growth.

In value terms, the largest waffle and wafer suppliers to Ireland were the UK ($X), Poland ($X) and Germany ($X), with a combined 83% share of total imports.

Poland, with a CAGR of +35.4%, saw the highest growth rate of 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 2021, the average waffle and wafer import price amounted to $X per ton, picking up by 22% against the previous year. Over the period from 2012 to 2021, it increased at an average annual rate of +2.3%. As a result, import price reached the peak level and is likely to continue growth in the immediate term.

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

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Poland (+6.3%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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