MERCOSUR: Waffle And Wafer Market 2024

Waffle And Wafer Market Size in MERCOSUR

The MERCOSUR waffle and wafer market expanded significantly to $X in 2021, with an increase of 6.5% against the previous year. In general, consumption recorded a relatively flat trend pattern. Over the period under review, the market reached the peak level at $X in 2013; however, from 2014 to 2021, consumption remained at a lower figure.

Waffle And Wafer Production in MERCOSUR

In value terms, waffle and wafer production amounted to $X in 2021 estimated in export price. Overall, production recorded a relatively flat trend pattern. The pace of growth appeared the most rapid in 2018 when the production volume increased by 18%. Over the period under review, production hit record highs at $X in 2014; however, from 2015 to 2021, production remained at a lower figure.

Waffle And Wafer Exports

Exports in MERCOSUR

In 2021, approx. X tons of waffles and wafers were exported in MERCOSUR; with an increase of 5.9% against 2020. Total exports indicated buoyant growth from 2012 to 2021: its volume increased at an average annual rate of +5.1% 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 decreased by -7.4% against 2014 indices. The most prominent rate of growth was recorded in 2014 with an increase of 61% against the previous year. As a result, the exports reached the peak of X tons. From 2015 to 2021, the growth of the exports remained at a lower figure.

In value terms, waffle and wafer exports expanded remarkably to $X in 2021. Total exports indicated a tangible expansion from 2012 to 2021: its value increased at an average annual rate of +4.4% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. The pace of growth appeared the most rapid in 2014 when exports increased by 72% against the previous year. As a result, the exports reached the peak of $X. From 2015 to 2021, the growth of the exports remained at a lower figure.

Exports by Country

Brazil represented the main exporting country with an export of around X tons, which resulted at 61% of total exports. Colombia (X tons) held a 22% share (based on physical terms) of total exports, which put it in second place, followed by Argentina (5.9%). Chile (X tons), Peru (X tons) and Venezuela (X tons) followed a long way behind the leaders.

From 2012 to 2021, average annual rates of growth with regard to waffle and wafer exports from Brazil stood at +5.3%. At the same time, Venezuela (+35.0%), Colombia (+34.9%) and Peru (+1.9%) displayed positive paces of growth. Moreover, Venezuela emerged as the fastest-growing exporter exported in MERCOSUR, with a CAGR of +35.0% from 2012-2021. By contrast, Argentina (-4.9%) and Chile (-8.6%) illustrated a downward trend over the same period. From 2012 to 2021, the share of Colombia increased by +19 percentage points. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Brazil ($X) remains the largest waffle and wafer supplier in MERCOSUR, comprising 61% of total exports. The second position in the ranking was taken by Colombia ($X), with an 18% share of total exports. It was followed by Argentina, with a 6.2% share.

In Brazil, waffle and wafer exports expanded at an average annual rate of +5.2% over the period from 2012-2021. The remaining exporting countries recorded the following average annual rates of exports growth: Colombia (+28.3% per year) and Argentina (-5.8% per year).

Export Prices by Country

The export price in MERCOSUR stood at $X per ton in 2021, picking up by 7% against the previous year. Over the period under review, the export price, however, recorded a relatively flat trend pattern. 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, the country with the highest price was Venezuela ($X per ton), while Colombia ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Venezuela (+6.4%), while the other leaders experienced a decline in the export price figures.

Waffle And Wafer Imports

Imports in MERCOSUR

In 2021, waffle and wafer imports in MERCOSUR soared to X tons, rising by 54% compared with the previous year. Total imports indicated a resilient expansion from 2012 to 2021: its volume increased at an average annual rate of +9.0% 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 +102.9% against 2016 indices. As a result, imports reached the peak and are likely to continue growth in the immediate term.

In value terms, waffle and wafer imports surged to $X in 2021. Total imports indicated a resilient expansion 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 +52.8% against 2018 indices. As a result, imports attained the peak and are likely to continue growth in the immediate term.

Imports by Country

Venezuela represented the key importing country with an import of about X tons, which amounted to 36% of total imports. It was distantly followed by Chile (X tons), Paraguay (X tons), Brazil (X tons), Peru (X tons), Uruguay (X tons), Argentina (X tons) and Ecuador (X tons), together creating a 59% share of total imports.

Venezuela was also the fastest-growing in terms of the waffles and wafers imports, with a CAGR of +33.4% from 2012 to 2021. At the same time, Peru (+25.6%), Chile (+16.7%), Argentina (+11.6%) and Paraguay (+3.2%) displayed positive paces of growth. Ecuador and Uruguay experienced a relatively flat trend pattern. By contrast, Brazil (-1.1%) illustrated a downward trend over the same period. Venezuela (+30 p.p.), Peru (+5.5 p.p.) and Chile (+5.4 p.p.) significantly strengthened its position in terms of the total imports, while Ecuador, Paraguay, Uruguay and Brazil saw its share reduced by -6%, -6.8%, -8.5% and -14.9% from 2012 to 2021, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Brazil ($X), Venezuela ($X) and Chile ($X) constituted the countries with the highest levels of imports in 2021, with a combined 61% share of total imports. Paraguay, Argentina, Peru, Ecuador and Uruguay lagged somewhat behind, together accounting for a further 34%.

Among the main importing countries, Peru, with a CAGR of +24.2%, saw 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, remaining relatively unchanged against the previous year. In general, the import price, however, saw a pronounced curtailment. The most prominent rate of growth was recorded in 2013 an increase of 7.2%. As a result, import price attained 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, the country with the highest price was Brazil ($X per ton), while Venezuela ($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 (+3.8%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform