Peru: Waffle And Wafer Market 2024

Waffle And Wafer Market Size in Peru

The Peruvian waffle and wafer market was estimated at $X in 2021, rising by 3.7% against the previous year. Overall, the total consumption indicated a pronounced expansion from 2012 to 2021: its value increased at an average annual rate of +4.7% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, consumption decreased by -3.5% against 2019 indices. Over the period under review, the market hit record highs at $X in 2019; however, from 2020 to 2021, consumption failed to regain momentum.

Waffle And Wafer Production in Peru

In value terms, waffle and wafer production stood at $X in 2021 estimated in export price. Over the period under review, the total production indicated pronounced growth from 2012 to 2021: its value increased at an average annual rate of +3.4% 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 -3.6% against 2019 indices. The pace of growth appeared the most rapid in 2019 when the production volume increased by 25% against the previous year. As a result, production reached the peak level of $X. From 2020 to 2021, production growth failed to regain momentum.

Waffle And Wafer Exports

Exports from Peru

In 2021, exports of waffles and wafers from Peru surged to X tons, increasing by 48% on 2020. In general, total exports indicated a modest increase from 2012 to 2021: its volume increased at an average annual rate of +1.9% 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 increased by +91.2% against 2016 indices. 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 soared to $X in 2021. Overall, total exports indicated slight growth from 2012 to 2021: its value increased at an average annual rate of +1.9% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. As a result, the exports reached the peak and are likely to continue growth in the immediate term.

Exports by Country

Chile (X tons), Ecuador (X tons) and the United States (X tons) were the main destinations of waffle and wafer exports from Peru, together accounting for 87% 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 Chile (with a CAGR of +63.4%), while the other leaders experienced more modest paces of growth.

In value terms, Chile ($X) emerged as the key foreign market for waffles and wafers exports from Peru, comprising 53% of total exports. The second position in the ranking was taken by Ecuador ($X), with a 24% share of total exports. It was followed by the United States, with an 11% share.

From 2012 to 2021, the average annual growth rate of value to Chile stood at +60.8%. Exports to the other major destinations recorded the following average annual rates of exports growth: Ecuador (-5.9% per year) and the United States (+25.4% per year).

Export Prices by Country

The average waffle and wafer export price stood at $X per ton in 2021, surging by 1.5% against the previous year. Overall, the export price, however, saw a relatively flat trend pattern. The pace of growth appeared the most rapid in 2017 an increase of 8.1%. The export price peaked at $X per ton in 2019; however, from 2020 to 2021, the export prices remained at a lower figure.

Average prices varied somewhat for the major external markets. In 2021, the countries with the highest prices were Chile ($X per ton) and Ecuador ($X per ton), while the average price for exports to Bolivia ($X per ton) and Colombia ($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 Ecuador (+0.6%), while the prices for the other major destinations experienced mixed trend patterns.

Waffle And Wafer Imports

Imports into Peru

In 2021, purchases abroad of waffles and wafers was finally on the rise to reach X tons for the first time since 2018, thus ending a two-year declining trend. Over the period under review, imports recorded a significant expansion. The most prominent rate of growth was recorded in 2013 when imports increased by 126%. Imports peaked in 2021 and are likely to see gradual growth in the immediate term.

In value terms, waffle and wafer imports surged to $X in 2021. Overall, imports saw significant growth. The pace of growth appeared the most rapid in 2013 with an increase of 124%. Imports peaked in 2021 and are likely to see steady growth in the immediate term.

Imports by Country

In 2021, Bolivia (X tons) constituted the largest supplier of waffle and wafer to Peru, accounting for a 47% share of total imports. Moreover, waffle and wafer imports from Bolivia exceeded the figures recorded by the second-largest supplier, Turkey (X tons), threefold. The third position in this ranking was held by Colombia (X tons), with a 16% share.

From 2012 to 2021, the average annual rate of growth in terms of volume from Bolivia totaled +14.3%. The remaining supplying countries recorded the following average annual rates of imports growth: Turkey (+44.0% per year) and Colombia (+5.2% per year).

In value terms, Bolivia ($X) constituted the largest supplier of waffles and wafers to Peru, comprising 36% of total imports. The second position in the ranking was held by Turkey ($X), with a 16% share of total imports. It was followed by Colombia, with a 14% share.

From 2012 to 2021, the average annual growth rate of value from Bolivia stood at +10.1%. The remaining supplying countries recorded the following average annual rates of imports growth: Turkey (+36.9% per year) and Colombia (+5.3% per year).

Import Prices by Country

The average waffle and wafer import price stood at $X per ton in 2021, with an increase of 7.1% against the previous year. In general, the import price, however, continues to indicate a slight shrinkage. Over the period under review, average import prices reached the maximum at $X per ton in 2014; however, from 2015 to 2021, import prices stood at a somewhat lower figure.

Prices varied noticeably country of origin: the country with the highest price was the Dominican Republic ($X per ton), while the price for Bolivia ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Brazil (+1.5%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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