Kuwait: Waffle And Wafer Market 2024

Waffle And Wafer Market Size in Kuwait

In 2021, the Kuwaiti waffle and wafer market decreased by -19.5% to $X for the first time since 2017, thus ending a three-year rising trend. Over the period under review, consumption, however, showed a prominent increase. As a result, consumption attained the peak level of $X, and then contracted notably in the following year.

Waffle And Wafer Production in Kuwait

In value terms, waffle and wafer production shrank significantly to $X in 2021 estimated in export price. Over the period under review, production faced a sharp curtailment. Waffle and wafer production peaked at $X in 2020, and then contracted rapidly in the following year.

Waffle And Wafer Exports

Exports from Kuwait

In 2021, approx. X tons of waffles and wafers were exported from Kuwait; with a decrease of -48.5% compared with the previous year's figure. Overall, exports showed a deep reduction. The most prominent rate of growth was recorded in 2017 with an increase of 120%. Over the period under review, the exports reached the peak figure at X tons in 2013; however, from 2014 to 2021, the exports stood at a somewhat lower figure.

In value terms, waffle and wafer exports reduced rapidly to $X in 2021. Over the period under review, exports recorded a deep reduction. The growth pace was the most rapid in 2017 when exports increased by 113%. The exports peaked at $X in 2013; however, from 2014 to 2021, the exports stood at a somewhat lower figure.

Exports by Country

Jordan (X tons), the United Arab Emirates (X tons) and Saudi Arabia (X tons) were the main destinations of waffle and wafer exports from Kuwait, together accounting for 74% of total exports. These countries were followed by Bahrain, Iraq, Yemen and Qatar, which together accounted for a further 19%.

From 2012 to 2021, the biggest increases were recorded for Qatar (with a CAGR of +28.7%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, Jordan ($X) emerged as the key foreign market for waffles and wafers exports from Kuwait, comprising 56% of total exports. The second position in the ranking was taken by the United Arab Emirates ($X), with a 15% share of total exports. It was followed by Saudi Arabia, with an 11% share.

From 2012 to 2021, the average annual rate of growth in terms of value to Jordan stood at -1.5%. Exports to the other major destinations recorded the following average annual rates of exports growth: the United Arab Emirates (-6.6% per year) and Saudi Arabia (-30.7% per year).

Export Prices by Country

In 2021, the average waffle and wafer export price amounted to $X per ton, rising by 22% against the previous year. Overall, the export price, however, continues to indicate a relatively flat trend pattern. Over the period under review, the average export prices hit record highs at $X per ton in 2015; however, from 2016 to 2021, the export prices failed to regain momentum.

Prices varied noticeably country of destination: the country with the highest price was Jordan ($X per ton), while the average price for exports to Yemen ($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 Qatar (+7.2%), while the prices for the other major destinations experienced more modest paces of growth.

Waffle And Wafer Imports

Imports into Kuwait

In 2021, after four years of growth, there was decline in overseas purchases of waffles and wafers, when their volume decreased by -2% to X tons. Over the period under review, imports showed a noticeable curtailment. The most prominent rate of growth was recorded in 2018 when imports increased by 16% against the previous year. Over the period under review, imports attained the maximum at X tons in 2012; however, from 2013 to 2021, imports stood at a somewhat lower figure.

In value terms, waffle and wafer imports shrank slightly to $X in 2021. In general, total imports indicated moderate growth from 2012 to 2021: its value increased at an average annual rate of +2.4% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. The pace of growth was the most pronounced in 2015 with an increase of 29%. Imports peaked at $X in 2020, and then reduced slightly in the following year.

Imports by Country

The United Arab Emirates (X tons), Poland (X tons) and Italy (X tons) were the main suppliers of waffle and wafer imports to Kuwait, with a combined 48% share of total imports.

From 2012 to 2021, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by Italy (with a CAGR of +42.4%), while imports for the other leaders experienced more modest paces of growth.

In value terms, the United Arab Emirates ($X), Italy ($X) and Poland ($X) appeared to be the largest waffle and wafer suppliers to Kuwait, with a combined 49% share of total imports.

Italy, with a CAGR of +51.9%, 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, approximately mirroring the previous year. Overall, import price indicated a resilient expansion from 2012 to 2021: its price increased at an average annual rate of +5.3% 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 import price decreased by -4.2% against 2019 indices. The most prominent rate of growth was recorded in 2015 an increase of 28% against the previous year. The import price peaked at $X per ton in 2019; however, from 2020 to 2021, import prices remained at a lower figure.

There were significant differences in the average prices amongst the major supplying countries. In 2021, the country with the highest price was Austria ($X per ton), while the price for the United States ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Italy (+6.7%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

Frequently Asked Questions (FAQ) :