Kenya: Waffle And Wafer Market 2024

Waffle And Wafer Market Size in Kenya

In 2021, after two years of decline, there was significant growth in the Kenyan waffle and wafer market, when its value increased by 122% to $X. Overall, consumption continues to indicate a relatively flat trend pattern. As a result, consumption attained the peak level and is likely to continue growth in the immediate term.

Waffle And Wafer Exports

Exports from Kenya

After three years of growth, overseas shipments of waffles and wafers decreased by -77% to X tons in 2021. Overall, exports recorded a pronounced descent. The pace of growth appeared the most rapid in 2014 when exports increased by 228% 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 somewhat lower figure.

In value terms, waffle and wafer exports shrank rapidly to $X in 2021. Over the period under review, exports showed a abrupt decline. The pace of growth appeared the most rapid in 2020 when exports increased by 176%. The exports peaked at $X in 2014; however, from 2015 to 2021, the exports stood at a somewhat lower figure.

Exports by Country

Democratic Republic of the Congo (X tons) was the main destination for waffle and wafer exports from Kenya, with a 83% share of total exports. Moreover, waffle and wafer exports to Democratic Republic of the Congo exceeded the volume sent to the second major destination, Canada (X kg), more than tenfold. Uganda (X kg) ranked third in terms of total exports with a 4.9% share.

From 2012 to 2021, the average annual rate of growth in terms of volume to Democratic Republic of the Congo was relatively modest. Exports to the other major destinations recorded the following average annual rates of exports growth: Canada (+33.5% per year) and Uganda (+14.0% per year).

In value terms, Democratic Republic of the Congo ($X) emerged as the key foreign market for waffles and wafers exports from Kenya, comprising 46% of total exports. The second position in the ranking was taken by Uganda ($X), with a 21% share of total exports. It was followed by Somalia, with a 19% share.

From 2012 to 2021, the average annual rate of growth in terms of value to Democratic Republic of the Congo stood at -8.2%. Exports to the other major destinations recorded the following average annual rates of exports growth: Uganda (+18.9% per year) and Somalia (+0.7% per year).

Export Prices by Country

In 2021, the average waffle and wafer export price amounted to $X per ton, shrinking by -16.7% against the previous year. Over the period under review, the export price continues to indicate a pronounced contraction. The pace of growth appeared the most rapid in 2015 when the average export price increased by 48% against the previous year. Over the period under review, the average export prices attained the maximum at $X per ton in 2017; however, from 2018 to 2021, the export prices failed to regain momentum.

There were significant differences in the average prices for the major overseas markets. In 2021, the country with the highest price was Somalia ($X per ton), while the average price for exports to Democratic Republic of the Congo ($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 Somalia (+13.2%), while the prices for the other major destinations experienced mixed trend patterns.

Waffle And Wafer Imports

Imports into Kenya

In 2021, purchases abroad of waffles and wafers was finally on the rise to reach X tons for the first time since 2018, thus ending a two-year declining trend. Over the period under review, imports showed a relatively flat trend pattern. As a result, imports attained the peak and are likely to continue growth in the immediate term.

In value terms, waffle and wafer imports soared to $X in 2021. In general, imports showed a relatively flat trend pattern. As a result, imports reached the peak and are likely to continue growth in the immediate term.

Imports by Country

In 2021, Jordan (X tons) constituted the largest supplier of waffle and wafer to Kenya, accounting for a 32% share of total imports. Moreover, waffle and wafer imports from Jordan exceeded the figures recorded by the second-largest supplier, the United Arab Emirates (X tons), twofold. The third position in this ranking was held by India (X tons), with a 12% share.

From 2012 to 2021, the average annual growth rate of volume from Jordan stood at +59.6%. The remaining supplying countries recorded the following average annual rates of imports growth: the United Arab Emirates (-5.8% per year) and India (-8.2% per year).

In value terms, Jordan ($X), the United Arab Emirates ($X) and India ($X) appeared to be the largest waffle and wafer suppliers to Kenya, together comprising 49% of total imports.

Among the main suppliers, Jordan, with a CAGR of +50.2%, saw the highest rates of growth with regard to the value of imports, 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, remaining stable against the previous year. Over the period under review, the import price, however, showed a relatively flat trend pattern. The growth pace was the most rapid in 2020 an increase of 24% against the previous year. The import price peaked at $X per ton in 2015; however, from 2016 to 2021, import prices remained at a lower figure.

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

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Oman (+6.0%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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