Puerto Rico: Market for Sweet Biscuits, Waffles and Wafers 2024

Market Size for Sweet Biscuits, Waffles and Wafers in Puerto Rico

The Puerto Rican market for sweet biscuits, waffles and wafers declined markedly to $X in 2021, which is down by -15.7% against the previous year. Over the period under review, consumption saw a pronounced downturn. Puerto Rico consumption peaked at $X in 2015; however, from 2016 to 2021, consumption remained at a lower figure.

Production of Sweet Biscuits, Waffles and Wafers in Puerto Rico

In value terms, sweet biscuit, waffle and wafer production dropped significantly to $X in 2021 estimated in export price. In general, production recorded a noticeable setback. The pace of growth appeared the most rapid in 2020 when the production volume increased by 46% against the previous year. Over the period under review, production hit record highs at $X in 2015; however, from 2016 to 2021, production remained at a lower figure.

Exports of Sweet Biscuits, Waffles and Wafers

Exports from Puerto Rico

In 2021, the amount of sweet biscuits, waffles and wafers exported from Puerto Rico amounted to less than X kg, standing approx. at 2020. Over the period under review, exports saw a relatively flat trend pattern.

In value terms, sweet biscuit, waffle and wafer exports totaled less than $X in 2021. Overall, exports saw a relatively flat trend pattern.

Exports by Country

The biggest shipments were from Mexico (X tons), Turkey (X tons), the Netherlands (X tons), Germany (X tons), Indonesia (X tons), Belgium (X tons), Poland (X tons), Italy (X tons), India (X tons), Canada (X tons), Russia (X tons) and Spain (X tons), together finishing at 66% of total export. The Czech Republic (X tons) took a little share of total exports.

From 2012 to 2021, the biggest increases were recorded for Indonesia (with a CAGR of +15.5%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, Germany ($X), the Netherlands ($X) and Poland ($X) appeared to be the countries with the highest levels of exports in 2021, with a combined 24% share of total exports. Italy, Mexico, Belgium, Canada, Turkey, Indonesia, Spain, the Czech Republic, Russia and India lagged somewhat behind, together comprising a further 44%.

Indonesia, with a CAGR of +13.2%, saw the highest rates of growth with regard to the value of exports, in terms of the main exporting countries over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

In 2021, the export price in Puerto Rico amounted to less than $X per ton, approximately reflecting the previous year. Overall, the export price continues to indicate a relatively flat trend pattern.

Prices varied noticeably by country of origin: amid the top suppliers, the country with the highest price was Italy ($X per ton), while India ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Poland (+2.4%), while the other leaders experienced more modest paces of growth.

Imports of Sweet Biscuits, Waffles and Wafers

Imports into Puerto Rico

In 2021, approx. less than X kg of sweet biscuits, waffles and wafers were imported into Puerto Rico; approximately reflecting the year before. In general, imports saw a relatively flat trend pattern.

In value terms, sweet biscuit, waffle and wafer imports stood at less than $X in 2021. Over the period under review, imports showed a relatively flat trend pattern.

Imports by Country

In 2021, the United States (X tons), distantly followed by Germany (X tons) and France (X tons) represented the main importers of sweet biscuits, waffles and wafers, together achieving 26% of total imports. The UK (X tons), Belgium (X tons), the Netherlands (X tons), Iraq (X tons), China (X tons), Canada (X tons), Yemen (X tons), Italy (X tons), Saudi Arabia (X tons) and Romania (X tons) followed a long way behind the leaders.

Imports into the United States increased at an average annual rate of +7.7% from 2012 to 2021. At the same time, China (+14.0%), Yemen (+10.7%), Romania (+10.1%), Germany (+4.3%), the UK (+4.3%), Iraq (+3.7%), Saudi Arabia (+3.5%), Italy (+3.2%), Canada (+2.7%) and Belgium (+2.6%) displayed positive paces of growth. Moreover, China emerged as the fastest-growing importer imported in the world, with a CAGR of +14.0% from 2012-2021. France and the Netherlands experienced a relatively flat trend pattern. While the share of the United States (+3.9 p.p.) increased significantly in terms of the global imports from 2012-2021, the share of France (-2 p.p.) displayed negative dynamics. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, the United States ($X) constitutes the largest market for imported sweet biscuits, waffles and wafers into Puerto Rico, comprising 16% of global imports. The second position in the ranking was taken by Germany ($X), with a 6.3% share of global imports. It was followed by France, with a 5.6% share.

In the United States, sweet biscuit, waffle and wafer imports expanded at an average annual rate of +6.4% over the period from 2012-2021. In the other countries, the average annual rates were as follows: Germany (+4.2% per year) and France (-0.5% per year).

Import Prices by Country

The import price in Puerto Rico stood at less than $X per ton in 2021, approximately mirroring the previous year. In general, the import price continues to indicate a relatively flat trend pattern.

Prices varied noticeably by country of destination: amid the top importers, the country with the highest price was Saudi Arabia ($X per ton), while Yemen ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by the Netherlands (+2.7%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform

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