Peru: Sweet Biscuit Market 2024

Sweet Biscuit Market Size in Peru

The Peruvian sweet biscuit market rose to $X in 2021, increasing by 1.5% against the previous year. Overall, consumption showed a pronounced curtailment. Over the period under review, the market reached the maximum level at $X in 2012; however, from 2013 to 2021, consumption remained at a lower figure.

Sweet Biscuit Production in Peru

In value terms, sweet biscuit production rose to $X in 2021 estimated in export price. In general, production, however, saw a relatively flat trend pattern. The pace of growth appeared the most rapid in 2017 with an increase of 18% against the previous year. As a result, production attained the peak level of $X. From 2018 to 2021, production growth remained at a somewhat lower figure.

Sweet Biscuit Exports

Exports from Peru

For the sixth year in a row, Peru recorded growth in overseas shipments of sweet biscuits, which increased by 13% to X tons in 2021. In general, exports continue to indicate a strong expansion. The most prominent rate of growth was recorded in 2017 with an increase of 25% against the previous year. The exports peaked in 2021 and are expected to retain growth in years to come.

In value terms, sweet biscuit exports expanded remarkably to $X in 2021. Over the period under review, total exports indicated a buoyant expansion from 2012 to 2021: its value increased at an average annual rate of +5.7% 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 +81.3% against 2016 indices. The pace of growth was the most pronounced in 2017 when exports increased by 28% against the previous year. Over the period under review, the exports hit record highs in 2021 and are expected to retain growth in years to come.

Exports by Country

Colombia (X tons), Ecuador (X tons) and Chile (X tons) were the main destinations of sweet biscuit exports from Peru, together comprising 61% 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 33%.

From 2012 to 2021, the biggest increases were recorded for Nicaragua (with a CAGR of +57.7%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, the largest markets for sweet biscuit exported from Peru were Colombia ($X), Ecuador ($X) and Chile ($X), with a combined 60% share 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 33%.

In terms of 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

The average sweet biscuit export price stood at $X per ton in 2021, remaining constant against the previous year. In general, the export price, however, continues to indicate a perceptible setback. The pace of growth appeared the most rapid in 2017 an increase of 3.2%. Over the period under review, the average export prices reached the maximum 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 export markets. In 2021, the countries with the highest prices were Bolivia ($X per ton) and Haiti ($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 Haiti (+2.2%), while the prices for the other major destinations experienced more modest paces of growth.

Sweet Biscuit Imports

Imports into Peru

Sweet biscuit imports into Peru skyrocketed to X tons in 2021, growing by 19% on 2020 figures. In general, imports recorded a significant expansion. The pace of growth appeared the most rapid in 2014 with an increase of 67% against the previous year. Imports peaked in 2021 and are expected to retain growth in years to come.

In value terms, sweet biscuit imports skyrocketed to $X in 2021. Over the period under review, imports posted prominent growth. The pace of growth was the most pronounced in 2014 with an increase of 56% against the previous year. Imports peaked in 2021 and are likely to see gradual growth in the immediate term.

Imports by Country

In 2021, Ecuador (X tons) constituted the largest sweet biscuit supplier to Peru, with a 48% share of total imports. Moreover, sweet biscuit imports from Ecuador exceeded the figures recorded by the second-largest supplier, Bolivia (X tons), twofold. Colombia (X tons) ranked third in terms of total imports with a 12% share.

From 2012 to 2021, the average annual rate of growth in terms of volume from Ecuador stood at +118.9%. The remaining supplying countries recorded the following average annual rates of imports growth: Bolivia (+29.2% per year) and Colombia (+0.6% per year).

In value terms, Ecuador ($X) constituted the largest supplier of sweet biscuits to Peru, comprising 38% of total imports. The second position in the ranking was taken by Bolivia ($X), with a 15% share of total imports. It was followed by Colombia, with a 14% share.

From 2012 to 2021, the average annual rate of growth in terms of value from Ecuador amounted to +112.4%. The remaining supplying countries recorded the following average annual rates of imports growth: Bolivia (+27.1% per year) and Colombia (-1.9% per year).

Import Prices by Country

The average sweet biscuit import price stood at $X per ton in 2021, flattening at the previous year. Overall, the import price saw a perceptible descent. The growth pace was the most rapid in 2019 when the average import price increased by 6.3% against the previous year. Over the period under review, average import prices reached the peak figure at $X per ton in 2012; however, from 2013 to 2021, import prices remained at a lower figure.

There were significant differences in the average prices amongst the major supplying countries. In 2021, 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 (+4.2%), while the prices for the other major suppliers experienced mixed trend patterns.

Source: IndexBox Platform

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