Middle East: Waffle And Wafer Market 2024

Waffle And Wafer Market Size in the Middle East

After nine years of growth, the Middle Eastern waffle and wafer market decreased by -0.5% to $X in 2021. The total consumption indicated a buoyant increase from 2012 to 2021: its value increased at an average annual rate of +5.6% 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 +63.5% against 2012 indices. Over the period under review, the market attained the maximum level at $X in 2020, and then fell in the following year.

Waffle And Wafer Production in the Middle East

In value terms, waffle and wafer production reduced to $X in 2021 estimated in export price. The total production indicated a strong expansion from 2012 to 2021: its value 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, production increased by +40.8% against 2016 indices. The most prominent rate of growth was recorded in 2018 with an increase of 33%. The level of production peaked at $X in 2020, and then fell slightly in the following year.

Waffle And Wafer Exports

Exports in the Middle East

In 2021, approx. X tons of waffles and wafers were exported in the Middle East; rising by 98% on the previous year's figure. In general, exports posted 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 surged to $X in 2021. Over the period under review, exports continue to indicate a resilient expansion. 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 approx. 89% of total exports in 2021. It was distantly followed by the United Arab Emirates (X tons), constituting a 9.4% 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 +18 percentage points.

In value terms, Turkey ($X) remains the largest waffle and wafer supplier in the Middle East, comprising 82% of total exports. The second position in the ranking was taken by the United Arab Emirates ($X), with a 16% share of total exports.

From 2012 to 2021, the average annual growth rate of value in Turkey stood at +16.0%.

Export Prices by Country

The export price in the Middle East stood at $X per ton in 2021, with a decrease of -9.6% against the previous year. Over the period under review, the export price recorded a relatively flat trend pattern. The pace of growth was the most pronounced in 2013 when the export price increased by 8.2%. Over the period under review, the export prices hit record highs at $X per ton in 2016; however, from 2017 to 2021, the export prices stood at a somewhat lower figure.

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 amounted to $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 the Middle East

In 2021, approx. X tons of waffles and wafers were imported in the Middle East; surging by 4.3% on the year before. Total imports indicated strong growth from 2012 to 2021: its volume increased at an average annual rate of +6.7% 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 +3.6% against 2018 indices. The growth pace was the most rapid in 2015 when imports increased by 18% against the previous year. The volume of import peaked in 2021 and is expected to retain growth in the near future.

In value terms, waffle and wafer imports expanded significantly to $X in 2021. Total imports indicated buoyant growth from 2012 to 2021: its value increased at an average annual rate of +7.2% 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 +86.3% against 2012 indices. The pace of growth was the most pronounced in 2015 with an increase of 15%. The level of import peaked in 2021 and is likely to continue growth in the near future.

Imports by Country

Iraq represented the largest importer of waffles and wafers in the Middle East, with the volume of imports resulting at X tons, which was near 33% of total imports in 2021. It was distantly followed by Saudi Arabia (X tons), Israel (X tons), Jordan (X tons), Oman (X tons) and Yemen (X tons), together constituting a 42% share of total imports. Lebanon (X tons), the United Arab Emirates (X tons), Palestine (X tons), Syrian Arab Republic (X tons) and Kuwait (X tons) followed a long way behind the leaders.

From 2012 to 2021, the most notable rate of growth in terms of purchases, amongst the key importing countries, was attained by Oman (with a CAGR of +23.3%), while imports for the other leaders experienced more modest paces of growth.

In value terms, the largest waffle and wafer importing markets in the Middle East were Saudi Arabia ($X), Iraq ($X) and Israel ($X), together comprising 59% of total imports. These countries were followed by Jordan, the United Arab Emirates, Palestine, Kuwait, Lebanon, Oman, Yemen and Syrian Arab Republic, which together accounted for a further 35%.

In terms of the main importing countries, Palestine, with a CAGR of +19.4%, 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

In 2021, the import price in the Middle East amounted to $X per ton, remaining stable against the previous year. In general, the import price recorded a relatively flat trend pattern. The most prominent rate of growth was recorded in 2019 when the import price increased by 6% against the previous year. The level of import peaked in 2021 and is likely to continue 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

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