Portugal: Market for Sweet Biscuits, Waffles and Wafers 2024

Market Size for Sweet Biscuits, Waffles and Wafers in Portugal

For the fifth consecutive year, the Portuguese market for sweet biscuits, waffles and wafers recorded growth in sales value, which increased by 14% to $X in 2021. In general, the total consumption indicated a prominent expansion from 2012 to 2021: its value increased at an average annual rate of +9.5% 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 increased by +68.3% against 2016 indices. Sweet biscuit, waffle and wafer consumption peaked in 2021 and is expected to retain growth in the near future.

Production of Sweet Biscuits, Waffles and Wafers in Portugal

In value terms, sweet biscuit, waffle and wafer production contracted to $X in 2021 estimated in export price. Overall, the total production indicated noticeable growth from 2012 to 2021: its value increased at an average annual rate of +4.3% 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 decreased by -15.5% against 2019 indices. The pace of growth was the most pronounced in 2017 with an increase of 105% 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 Portugal

In 2021, overseas shipments of sweet biscuits, waffles and wafers decreased by -9.1% to X tons, falling for the third year in a row after two years of growth. In general, exports continue to indicate a abrupt slump. The most prominent rate of growth was recorded in 2018 when exports increased by 7.2% against the previous year. The exports peaked at X tons in 2012; however, from 2013 to 2021, the exports failed to regain momentum.

In value terms, sweet biscuit, waffle and wafer exports dropped to $X in 2021. Overall, exports showed a abrupt slump. The most prominent rate of growth was recorded in 2017 with an increase of 8.3% against the previous year. The exports peaked at $X in 2013; however, from 2014 to 2021, the exports failed to regain momentum.

Exports by Country

Spain (X tons) was the main destination for sweet biscuit, waffle and wafer exports from Portugal, with a 38% share of total exports. Moreover, sweet biscuit, waffle and wafer exports to Spain exceeded the volume sent to the second major destination, Angola (X tons), fivefold. Canada (X tons) ranked third in terms of total exports with a 6.9% share.

From 2012 to 2021, the average annual rate of growth in terms of volume to Spain stood at -3.9%. Exports to the other major destinations recorded the following average annual rates of exports growth: Angola (-11.2% per year) and Canada (+28.6% per year).

In value terms, Spain ($X) remains the key foreign market for sweet biscuits, waffles and wafers exports from Portugal, comprising 30% of total exports. The second position in the ranking was taken by Angola ($X), with a 7.5% share of total exports. It was followed by France, with a 7.4% share.

From 2012 to 2021, the average annual growth rate of value to Spain amounted to -5.6%. Exports to the other major destinations recorded the following average annual rates of exports growth: Angola (-11.1% per year) and France (-8.1% per year).

Export Prices by Country

The average export price for sweet biscuits, waffles and wafers stood at $X per ton in 2021, picking up by 4% against the previous year. Overall, the export price, however, recorded a slight slump. The growth pace was the most rapid in 2013 when the average export price increased by 11%. As a result, the export price attained the peak level of $X per ton. From 2014 to 2021, the average export prices remained at a somewhat lower figure.

There were significant differences in the average prices for the major foreign markets. In 2021, amid the top suppliers, the country with the highest price was Germany ($X per ton), while the average price for exports to Canada ($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 the UK (+3.6%), while the prices for the other major destinations experienced more modest paces of growth.

Imports of Sweet Biscuits, Waffles and Wafers

Imports into Portugal

In 2021, after two years of decline, there was growth in supplies from abroad of sweet biscuits, waffles and wafers, when their volume increased by 1.6% to X tons. The total import volume increased at an average annual rate of +4.3% from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The pace of growth was the most pronounced in 2013 when imports increased by 25%. Imports peaked at X tons in 2018; however, from 2019 to 2021, imports failed to regain momentum.

In value terms, sweet biscuit, waffle and wafer imports rose sharply to $X in 2021. The total import value increased at an average annual rate of +4.1% over the period from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The most prominent rate of growth was recorded in 2013 when imports increased by 24%. Over the period under review, imports hit record highs at $X in 2018; however, from 2019 to 2021, imports remained at a lower figure.

Imports by Country

In 2021, Spain (X tons) constituted the largest supplier of sweet biscuit, waffle and wafer to Portugal, accounting for a 72% share of total imports. Moreover, sweet biscuit, waffle and wafer imports from Spain exceeded the figures recorded by the second-largest supplier, Germany (X tons), tenfold. The third position in this ranking was held by France (X tons), with a 4.5% share.

From 2012 to 2021, the average annual growth rate of volume from Spain stood at +4.6%. The remaining supplying countries recorded the following average annual rates of imports growth: Germany (+0.0% per year) and France (+2.7% per year).

In value terms, Spain ($X) constituted the largest supplier of sweet biscuits, waffles and wafers to Portugal, comprising 60% of total imports. The second position in the ranking was held by Germany ($X), with a 9.8% share of total imports. It was followed by France, with a 6.6% share.

From 2012 to 2021, the average annual rate of growth in terms of value from Spain totaled +4.4%. The remaining supplying countries recorded the following average annual rates of imports growth: Germany (+0.5% per year) and France (+3.6% per year).

Import Prices by Country

In 2021, the average import price for sweet biscuits, waffles and wafers amounted to $X per ton, surging by 8.4% against the previous year. Overall, the import price, however, continues to indicate a relatively flat trend pattern. Over the period under review, average import prices hit record highs at $X per ton in 2014; however, from 2015 to 2021, import prices remained at a lower figure.

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

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by France (+0.9%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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