MERCOSUR: Market for Sweet Biscuits, Waffles and Wafers 2024

Market Size for Sweet Biscuits, Waffles and Wafers in MERCOSUR

The MERCOSUR market for sweet biscuits, waffles and wafers rose sharply to $X in 2021, surging by 13% against the previous year. The market value increased at an average annual rate of +3.9% over the period from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. Over the period under review, the market hit record highs at $X in 2019; however, from 2020 to 2021, consumption failed to regain momentum.

Production of Sweet Biscuits, Waffles and Wafers in MERCOSUR

In value terms, sweet biscuit, waffle and wafer production rose significantly to $X in 2021 estimated in export price. The total output value increased at an average annual rate of +3.5% from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The most prominent rate of growth was recorded in 2013 with an increase of 19%. The level of production peaked at $X in 2019; however, from 2020 to 2021, production failed to regain momentum.

Exports of Sweet Biscuits, Waffles and Wafers

Exports in MERCOSUR

Sweet biscuit, waffle and wafer exports soared to X tons in 2021, picking up by 16% against 2020 figures. Total exports indicated resilient growth from 2012 to 2021: its volume increased at an average annual rate of +5.5% 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 +59.6% against 2016 indices. As a result, the exports reached the peak and are likely to continue growth in the immediate term.

In value terms, sweet biscuit, waffle and wafer exports soared to $X in 2021. The total export value increased at an average annual rate of +2.8% over the period from 2012 to 2021; however, the trend pattern remained relatively stable, with only minor fluctuations throughout the analyzed period. The pace of growth was the most pronounced in 2014 with an increase of 16%. The level of export peaked in 2021 and is expected to retain growth in the immediate term.

Exports by Country

Brazil represented the main exporting country with an export of around X tons, which accounted for 43% of total exports. Peru (X tons) took a 27% share (based on physical terms) of total exports, which put it in second place, followed by Colombia (14%) and Argentina (11%). The following exporters - Chile (X tons) and Ecuador (X tons) - each amounted to a 3.4% share of total exports.

From 2012 to 2021, the most notable rate of growth in terms of shipments, amongst the main exporting countries, was attained by Ecuador (with a CAGR of +17.4%), while the other leaders experienced more modest paces of growth.

In value terms, the largest sweet biscuit, waffle and wafer supplying countries in MERCOSUR were Brazil ($X), Peru ($X) and Colombia ($X), with a combined 81% share of total exports. These countries were followed by Argentina, Chile and Ecuador, which together accounted for a further 17%.

In terms of the main exporting countries, Ecuador, with a CAGR of +16.5%, saw the highest growth rate of the value of exports, over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

The export price in MERCOSUR stood at $X per ton in 2021, leveling off at the previous year. Overall, the export price recorded a noticeable setback. The growth pace was the most rapid in 2017 an increase of 2.4% against the previous year. The level of export peaked at $X per ton in 2014; however, from 2015 to 2021, the export prices remained at a lower figure.

There were significant differences in the average prices amongst the major exporting countries. In 2021, amid the top suppliers, the country with the highest price was Ecuador ($X per ton), while Brazil ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Chile (-0.0%), while the other leaders experienced a decline in the export price figures.

Imports of Sweet Biscuits, Waffles and Wafers

Imports in MERCOSUR

In 2021, purchases abroad of sweet biscuits, waffles and wafers increased by 29% to X tons, rising for the fifth consecutive year after two years of decline. Total imports indicated buoyant growth from 2012 to 2021: its volume increased at an average annual rate of +6.9% 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 +85.1% against 2016 indices. As a result, imports reached the peak and are likely to continue growth in the immediate term.

In value terms, sweet biscuit, waffle and wafer imports surged to $X in 2021. The total import value increased at an average annual rate of +4.7% over the period from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. As a result, imports reached the peak and are likely to continue growth in the immediate term.

Imports by Country

The purchases of the six major importers of sweet biscuits, waffles and wafers, namely Chile, Venezuela, Colombia, Paraguay, Uruguay and Ecuador, represented more than two-thirds of total import. Brazil (X tons) held the next position in the ranking, followed by Peru (X tons). All these countries together held near 11% share of total imports.

From 2012 to 2021, the most notable rate of growth in terms of purchases, amongst the key importing countries, was attained by Peru (with a CAGR of +20.9%), while imports for the other leaders experienced more modest paces of growth.

In value terms, Chile ($X), Venezuela ($X) and Colombia ($X) were the countries with the highest levels of imports in 2021, together comprising 51% of total imports. Brazil, Paraguay, Ecuador, Uruguay and Peru lagged somewhat behind, together comprising a further 42%.

In terms of the main importing countries, Peru, with a CAGR of +18.3%, recorded the highest growth rate of 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 import price in MERCOSUR stood at $X per ton in 2021, picking up by 6.2% against the previous year. Over the period under review, the import price, however, continues to indicate a perceptible curtailment. The most prominent rate of growth was recorded in 2013 when the import price increased by 6.4%. As a result, import price reached the peak level of $X per ton. From 2014 to 2021, the import prices remained at a lower figure.

There were significant differences in the average prices amongst the major importing countries. In 2021, amid the top importers, the country with the highest price was Brazil ($X per ton), while Uruguay ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Brazil (+0.9%), while the other leaders experienced a decline in the import price figures.

Source: IndexBox Platform