Peru: Market for Sweet Biscuits, Waffles and Wafers 2024

Market Size for Sweet Biscuits, Waffles and Wafers in Peru

The Peruvian market for sweet biscuits, waffles and wafers rose sharply to $X in 2021, with an increase of 9.7% against the previous year. Over the period under review, the total consumption indicated strong growth from 2012 to 2021: its value increased at an average annual rate of +5.4% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, consumption decreased by -12.6% against 2019 indices. Sweet biscuit, waffle and wafer consumption peaked at $X in 2019; however, from 2020 to 2021, consumption remained at a lower figure.

Production of Sweet Biscuits, Waffles and Wafers in Peru

In value terms, sweet biscuit, waffle and wafer production expanded remarkably to $X in 2021 estimated in export price. In general, the total production indicated strong 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 decreased by -8.9% against 2019 indices. The pace of growth was the most pronounced in 2014 with an increase of 23% against the previous year. Sweet biscuit, waffle and wafer production peaked at $X in 2019; however, from 2020 to 2021, production remained at a lower figure.

Exports of Sweet Biscuits, Waffles and Wafers

Exports from Peru

For the sixth consecutive year, Peru recorded growth in shipments abroad of sweet biscuits, waffles and wafers, which increased by 14% to X tons in 2021. In general, exports saw resilient growth. The most prominent rate of growth was recorded in 2017 with an increase of 24% against the previous year. Over the period under review, the exports reached the maximum in 2021 and are expected to retain growth in the near future.

In value terms, sweet biscuit, waffle and wafer exports rose sharply to $X in 2021. Over the period under review, total exports indicated strong growth from 2012 to 2021: its value increased at an average annual rate of +5.4% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, exports increased by +82.9% against 2016 indices. The most prominent rate of growth was recorded in 2017 when exports increased by 28%. The exports peaked in 2021 and are expected to retain growth in the immediate term.

Exports by Country

Colombia (X tons), Ecuador (X tons) and Chile (X tons) were the main destinations of sweet biscuit, waffle and wafer exports from Peru, together comprising 62% of total exports. These countries were followed by Bolivia, the Dominican Republic, Costa Rica, El Salvador, Honduras, Nicaragua, Guatemala, Panama and Haiti, which together accounted for a further 32%.

From 2012 to 2021, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by Nicaragua (with a CAGR of +57.7%), while the other leaders experienced more modest paces of growth.

In value terms, the largest markets for sweet biscuit, waffle and wafer exported from Peru were Colombia ($X), Ecuador ($X) and Chile ($X), with a combined 61% share of total exports. Bolivia, the Dominican Republic, Costa Rica, El Salvador, Honduras, Nicaragua, Guatemala, Panama and Haiti lagged somewhat behind, together comprising a further 31%.

Among the main countries of destination, Honduras, with a CAGR of +55.7%, recorded the highest rates of growth with regard to 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

In 2021, the average export price for sweet biscuits, waffles and wafers amounted to $X per ton, therefore, remained relatively stable against the previous year. Over the period under review, the export price, however, saw a perceptible curtailment. The most prominent rate of growth was recorded in 2017 when the average export price increased by 3.3%. The export price peaked at $X per ton in 2013; however, from 2014 to 2021, the export prices failed to regain momentum.

Average prices varied somewhat for the major overseas markets. In 2021, amid the top suppliers, the countries with the highest prices were Bolivia ($X per ton) and Ecuador ($X per ton), while the average price for exports to Nicaragua ($X per ton) and the Dominican Republic ($X per ton) were amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to Chile (+2.8%), while the prices for the other major destinations experienced more modest paces of growth.

Imports of Sweet Biscuits, Waffles and Wafers

Imports into Peru

In 2021, the amount of sweet biscuits, waffles and wafers imported into Peru skyrocketed to X tons, jumping by 19% compared with the year before. Overall, imports continue to indicate a significant increase. The pace of growth appeared the most rapid in 2013 with an increase of 89% against the previous year. Imports peaked in 2021 and are likely to see gradual growth in years to come.

In value terms, sweet biscuit, waffle and wafer imports skyrocketed to $X in 2021. In general, imports posted a prominent expansion. The most prominent rate of growth was recorded in 2013 when imports increased by 87%. Imports peaked in 2021 and are likely to see steady growth in the near future.

Imports by Country

Bolivia (X tons), Ecuador (X tons) and Colombia (X tons) were the main suppliers of sweet biscuit, waffle and wafer imports to Peru, together accounting for 72% of total imports.

From 2012 to 2021, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by Ecuador (with a CAGR of +103.3%), while imports for the other leaders experienced more modest paces of growth.

In value terms, the largest sweet biscuit, waffle and wafer suppliers to Peru were Bolivia ($X), Ecuador ($X) and Colombia ($X), together accounting for 60% of total imports.

In terms of the main suppliers, Ecuador, with a CAGR of +73.6%, 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

The average import price for sweet biscuits, waffles and wafers stood at $X per ton in 2021, growing by 2.3% against the previous year. In general, the import price, however, showed a noticeable descent. The most prominent rate of growth was recorded in 2019 when the average import price increased by 4.2% against the previous year. The import price peaked at $X per ton in 2015; however, from 2016 to 2021, import prices failed to regain momentum.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was Denmark ($X per ton), while the price for Bolivia ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Argentina (+4.7%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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