MENA: Waffle And Wafer Market 2024

Waffle And Wafer Market Size in MENA

In 2021, the MENA's waffle and wafer market increased by 7.4% to $X, rising for the fifth consecutive year after three years of decline. The total consumption indicated a prominent increase from 2012 to 2021: its value increased at an average annual rate of +5.5% 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 +68.0% against 2016 indices. The level of consumption peaked in 2021 and is expected to retain growth in the immediate term.

Waffle And Wafer Production in MENA

In value terms, waffle and wafer production shrank modestly to $X in 2021 estimated in export price. The total production indicated buoyant growth from 2012 to 2021: its value increased at an average annual rate of +5.1% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, production increased by +46.1% against 2016 indices. The most prominent rate of growth was recorded in 2018 with an increase of 31% against the previous year. Over the period under review, production reached the maximum level at $X in 2020, and then contracted modestly in the following year.

Waffle And Wafer Exports

Exports in MENA

Waffle and wafer exports soared to X tons in 2021, growing by 96% against the previous year. Overall, exports saw a prominent increase. As a result, the exports attained the peak and are likely to continue growth in the immediate term.

In value terms, waffle and wafer exports skyrocketed to $X in 2021. Over the period under review, exports continue to indicate buoyant growth. As a result, the exports reached the peak and are likely to continue growth in the immediate term.

Exports by Country

Turkey prevails in exports structure, reaching X tons, which was near 88% of total exports in 2021. It was distantly followed by the United Arab Emirates (X tons), generating a 9.2% share of total exports.

Turkey was also the fastest-growing in terms of the waffles and wafers exports, with a CAGR of +18.1% from 2012 to 2021. At the same time, the United Arab Emirates (+5.5%) displayed positive paces of growth. From 2012 to 2021, the share of Turkey increased by +19 percentage points.

In value terms, Turkey ($X) remains the largest waffle and wafer supplier in MENA, comprising 81% of total exports. The second position in the ranking was held by the United Arab Emirates ($X), with a 15% share of total exports.

In Turkey, waffle and wafer exports expanded at an average annual rate of +16.0% over the period from 2012-2021.

Export Prices by Country

In 2021, the export price in MENA amounted to $X per ton, with a decrease of -9.4% against the previous year. Overall, the export price showed a relatively flat trend pattern. The most prominent rate of growth was recorded in 2013 when the export price increased by 7.5%. The level of export peaked at $X per ton in 2015; however, from 2016 to 2021, the export prices failed to regain momentum.

There were significant differences in the average prices amongst the major exporting countries. In 2021, the country with the highest price was the United Arab Emirates ($X per ton), while Turkey stood at $X per ton.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by the United Arab Emirates (+3.6%).

Waffle And Wafer Imports

Imports in MENA

In 2021, approx. X tons of waffles and wafers were imported in MENA; surging by 5.7% compared with the previous year's figure. Total imports indicated buoyant growth from 2012 to 2021: its volume increased at an average annual rate of +6.3% 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 +73.1% against 2012 indices. The growth pace was the most rapid in 2015 when imports increased by 15%. The volume of import peaked in 2021 and is likely to see steady growth in the near future.

In value terms, waffle and wafer imports expanded significantly to $X in 2021. Total imports indicated a strong increase from 2012 to 2021: its value increased at an average annual rate of +6.7% 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 +78.7% against 2012 indices. The growth pace was the most rapid in 2013 when imports increased by 12%. The level of import peaked in 2021 and is expected to retain growth in years to come.

Imports by Country

In 2021, Iraq (X tons), distantly followed by Saudi Arabia (X tons), Israel (X tons), Jordan (X tons), Libya (X tons), Oman (X tons) and Yemen (X tons) were the main importers of waffles and wafers, together making up 72% of total imports. Lebanon (X tons), the United Arab Emirates (X tons), Palestine (X tons), Morocco (X tons), Syrian Arab Republic (X tons) and Kuwait (X tons) took a little share of total imports.

From 2012 to 2021, the biggest increases were recorded for Morocco (with a CAGR of +30.4%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, Saudi Arabia ($X), Iraq ($X) and Israel ($X) constituted the countries with the highest levels of imports in 2021, together accounting for 52% of total imports. Jordan, the United Arab Emirates, Libya, Palestine, Kuwait, Morocco, Lebanon, Oman, Yemen and Syrian Arab Republic lagged somewhat behind, together comprising a further 39%.

Morocco, with a CAGR of +32.1%, recorded the highest growth rate of the value of imports, among the main importing countries over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

In 2021, the import price in MENA amounted to $X per ton, surging by 2.1% against the previous year. Overall, the import price recorded a relatively flat trend pattern. The most prominent rate of growth was recorded in 2019 an increase of 5.8%. The level of import peaked in 2021 and is likely to see steady growth in years to come.

There were significant differences in the average prices amongst the major importing countries. In 2021, the country with the highest price was Kuwait ($X per ton), while Syrian Arab Republic ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Kuwait (+5.3%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform