Norway: Waffle And Wafer Market 2024

Waffle And Wafer Market Size in Norway

In 2021, the Norwegian waffle and wafer market increased by 16% to $X, rising for the fourth year in a row after three years of decline. In general, the total consumption indicated a moderate increase from 2012 to 2021: its value increased at an average annual rate of +2.0% 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 +84.9% against 2017 indices. Waffle and wafer consumption peaked in 2021 and is expected to retain growth in the immediate term.

Waffle And Wafer Exports

Exports from Norway

In 2021, shipments abroad of waffles and wafers decreased by -0.5% to X tons, falling for the second consecutive year after four years of growth. Overall, exports, however, continue to indicate prominent growth. The most prominent rate of growth was recorded in 2018 when exports increased by 64% against the previous year. The exports peaked at X tons in 2019; however, from 2020 to 2021, the exports stood at a somewhat lower figure.

In value terms, waffle and wafer exports surged to $X in 2021. Over the period under review, exports, however, showed a tangible increase. The pace of growth was the most pronounced in 2018 when exports increased by 89% against the previous year. Over the period under review, the exports attained the maximum at $X in 2019; however, from 2020 to 2021, the exports remained at a lower figure.

Exports by Country

Germany (X tons), Sweden (X tons) and Denmark (X tons) were the main destinations of waffle and wafer exports from Norway, with a combined 99% share of total exports.

From 2012 to 2021, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by Germany (with a CAGR of +70.6%), while the other leaders experienced mixed trend patterns.

In value terms, Germany ($X) remains the key foreign market for waffles and wafers exports from Norway, comprising 70% of total exports. The second position in the ranking was held by Sweden ($X), with a 27% share of total exports.

From 2012 to 2021, the average annual growth rate of value to Germany totaled +88.7%. Exports to the other major destinations recorded the following average annual rates of exports growth: Sweden (+8.0% per year) and Denmark (-29.2% per year).

Export Prices by Country

The average waffle and wafer export price stood at $X per ton in 2021, picking up by 26% against the previous year. Over the period under review, the export price, however, continues to indicate a slight curtailment. The export price peaked at $X per ton in 2014; however, from 2015 to 2021, the export prices stood at a somewhat lower figure.

Prices varied noticeably country of destination: the country with the highest price was Germany ($X per ton), while the average price for exports to Denmark ($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 Germany (+10.6%), while the prices for the other major destinations experienced a decline.

Waffle And Wafer Imports

Imports into Norway

After three years of growth, purchases abroad of waffles and wafers decreased by -1.4% to X tons in 2021. The total import volume increased at an average annual rate of +2.4% from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The pace of growth was the most pronounced in 2020 when imports increased by 19%. As a result, imports reached the peak of X tons, and then shrank slightly in the following year.

In value terms, waffle and wafer imports soared to $X in 2021. Overall, total imports indicated temperate growth from 2012 to 2021: its value increased at an average annual rate of +2.2% 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 +90.4% against 2017 indices. The growth pace was the most rapid in 2020 when imports increased by 31% against the previous year. Imports peaked in 2021 and are likely to see gradual growth in the immediate term.

Imports by Country

Germany (X tons), Sweden (X tons) and Poland (X tons) were the main suppliers of waffle and wafer imports to Norway, together accounting for 74% of total imports. These countries were followed by Denmark, Belgium, the Netherlands, the Czech Republic and Spain, which together accounted for a further 18%.

From 2012 to 2021, the biggest increases were recorded for Belgium (with a CAGR of +10.8%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, Poland ($X), Sweden ($X) and Germany ($X) constituted the largest waffle and wafer suppliers to Norway, together comprising 70% of total imports.

Poland, with a CAGR of +9.2%, saw the highest rates of growth with regard to 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

The average waffle and wafer import price stood at $X per ton in 2021, surging by 21% against the previous year. Over the period under review, the import price, however, saw a relatively flat trend pattern. Over the period under review, average import prices attained the peak figure at $X per ton in 2014; afterwards, it flattened through to 2021.

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

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Spain (+7.3%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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