Japan: Market for Sweet Biscuits, Waffles and Wafers 2024

Market Size for Sweet Biscuits, Waffles and Wafers in Japan

In 2021, the Japanese market for sweet biscuits, waffles and wafers increased by 22% to $X, rising for the sixth consecutive year after three years of decline. Overall, consumption posted a prominent increase. Sweet biscuit, waffle and wafer consumption peaked in 2021 and is likely to see steady growth in the near future.

Exports of Sweet Biscuits, Waffles and Wafers

Exports from Japan

In 2021, the amount of sweet biscuits, waffles and wafers exported from Japan rose markedly to X tons, growing by 14% against the previous year's figure. In general, total exports indicated a buoyant expansion from 2012 to 2021: its volume increased at an average annual rate of +7.6% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, exports increased by +41.8% against 2017 indices. The pace of growth appeared the most rapid in 2015 with an increase of 43% against the previous year. The exports peaked at X tons in 2016; however, from 2017 to 2021, the exports failed to regain momentum.

In value terms, sweet biscuit, waffle and wafer exports surged to $X in 2021. Over the period under review, total exports indicated a prominent expansion from 2012 to 2021: its value increased at an average annual rate of +7.8% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, exports increased by +53.0% against 2017 indices. The pace of growth appeared the most rapid in 2015 with an increase of 34%. The exports peaked at $X in 2016; however, from 2017 to 2021, the exports stood at a somewhat lower figure.

Exports by Country

China (X tons), Hong Kong SAR (X tons) and Taiwan (Chinese) (X tons) were the main destinations of sweet biscuit, waffle and wafer exports from Japan, with a combined 72% share of total exports. The United States, Vietnam, South Korea and Singapore lagged somewhat behind, together accounting for a further 17%.

From 2012 to 2021, the biggest increases were recorded for Vietnam (with a CAGR of +55.4%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, China ($X), Hong Kong SAR ($X) and Taiwan (Chinese) ($X) were the largest markets for sweet biscuit, waffle and wafer exported from Japan worldwide, together accounting for 71% of total exports. The United States, Vietnam, Singapore and South Korea lagged somewhat behind, together accounting for a further 17%.

Vietnam, with a CAGR of +57.4%, 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 export price for sweet biscuits, waffles and wafers stood at $X per ton in 2021, increasing by 14% against the previous year. Overall, the export price continues to indicate a relatively flat trend pattern. As a result, the export price attained the peak level and is likely to continue growth in the immediate term.

There were significant differences in the average prices for the major export markets. In 2021, amid the top suppliers, the country with the highest price was Taiwan (Chinese) ($X per ton), while the average price for exports to China ($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 Taiwan (Chinese) (+5.9%), while the prices for the other major destinations experienced more modest paces of growth.

Imports of Sweet Biscuits, Waffles and Wafers

Imports into Japan

In 2021, the amount of sweet biscuits, waffles and wafers imported into Japan expanded remarkably to X tons, picking up by 15% compared with the year before. Over the period under review, imports continue to indicate a prominent expansion. The pace of growth was the most pronounced in 2020 when imports increased by 18%. Over the period under review, imports hit record highs in 2021 and are expected to retain growth in the immediate term.

In value terms, sweet biscuit, waffle and wafer imports skyrocketed to $X in 2021. In general, total imports indicated a remarkable increase from 2012 to 2021: its value increased at an average annual rate of +5.6% 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 +83.0% against 2015 indices. As a result, imports attained the peak and are likely to continue growth in the immediate term.

Imports by Country

In 2021, Belgium (X tons) constituted the largest supplier of sweet biscuit, waffle and wafer to Japan, accounting for a 61% share of total imports. Moreover, sweet biscuit, waffle and wafer imports from Belgium exceeded the figures recorded by the second-largest supplier, Italy (X tons), sevenfold. Malaysia (X tons) ranked third in terms of total imports with a 5.7% share.

From 2012 to 2021, the average annual growth rate of volume from Belgium amounted to +22.4%. The remaining supplying countries recorded the following average annual rates of imports growth: Italy (+0.4% per year) and Malaysia (-4.5% per year).

In value terms, Belgium ($X) constituted the largest supplier of sweet biscuits, waffles and wafers to Japan, comprising 48% of total imports. The second position in the ranking was held by Italy ($X), with a 19% share of total imports. It was followed by Austria, with an 8.7% share.

From 2012 to 2021, the average annual growth rate of value from Belgium amounted to +19.1%. The remaining supplying countries recorded the following average annual rates of imports growth: Italy (+5.8% per year) and Austria (-0.0% per year).

Import Prices by Country

In 2021, the average import price for sweet biscuits, waffles and wafers amounted to $X per ton, rising by 6.9% against the previous year. Overall, the import price, however, showed a slight reduction. The most prominent rate of growth was recorded in 2013 when the average import price increased by 7.2%. Over the period under review, average import prices reached the maximum at $X per ton in 2014; however, from 2015 to 2021, import prices stood at a somewhat lower figure.

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 Italy ($X per ton), while the price for Brazil ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Canada (+23.6%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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