Russian Federation: Waffle And Wafer Market 2024

Waffle And Wafer Market Size in the Russian Federation

The Russian waffle and wafer market declined slightly to $X in 2021, therefore, remained relatively stable against the previous year. Over the period under review, consumption recorded a pronounced downturn. As a result, consumption reached the peak level of $X. From 2014 to 2021, the growth of the market remained at a somewhat lower figure.

Waffle And Wafer Production in the Russian Federation

In value terms, waffle and wafer production dropped slightly to $X in 2021 estimated in export price. Overall, production continues to indicate a noticeable shrinkage. The pace of growth appeared the most rapid in 2013 with an increase of 11% against the previous year. As a result, production attained the peak level of $X. From 2014 to 2021, production growth remained at a somewhat lower figure.

Waffle And Wafer Exports

Exports from the Russian Federation

In 2021, exports of waffles and wafers from Russia reached X tons, picking up by 2.6% on 2020. In general, exports continue to indicate strong growth. The growth pace was the most rapid in 2016 when exports increased by 35%. The exports peaked in 2021 and are expected to retain growth in years to come.

In value terms, waffle and wafer exports expanded rapidly 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 +8.8% 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 +102.3% against 2015 indices. The pace of growth appeared the most rapid in 2016 with an increase of 31% against the previous year. Over the period under review, the exports hit record highs in 2021 and are expected to retain growth in the near future.

Exports by Country

Kazakhstan (X tons), Belarus (X tons) and China (X tons) were the main destinations of waffle and wafer exports from Russia, together comprising 48% of total exports.

From 2012 to 2021, the biggest increases were recorded for China (with a CAGR of +238.5%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, Kazakhstan ($X), Belarus ($X) and China ($X) constituted the largest markets for waffle and wafer exported from Russia worldwide, together comprising 50% of total exports.

In terms of the main countries of destination, China, with a CAGR of +204.2%, recorded the highest growth rate of 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 waffle and wafer export price amounted to $X per ton, surging by 12% against the previous year. In general, the export price, however, showed a noticeable contraction. The export price peaked at $X per ton in 2013; however, from 2014 to 2021, the export prices stood at a somewhat lower figure.

Prices varied noticeably country of destination: the country with the highest price was China ($X per ton), while the average price for exports to Tajikistan ($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 Kazakhstan (-0.9%), while the prices for the other major destinations experienced a decline.

Waffle And Wafer Imports

Imports into the Russian Federation

In 2021, the amount of waffles and wafers imported into Russia soared to X tons, increasing by 43% compared with 2020 figures. In general, imports, however, showed a relatively flat trend pattern. Imports peaked at X tons in 2013; however, from 2014 to 2021, imports failed to regain momentum.

In value terms, waffle and wafer imports surged to $X in 2021. Overall, imports continue to indicate a modest increase. As a result, imports reached the peak and are likely to continue growth in the immediate term.

Imports by Country

Poland (X tons), Kazakhstan (X tons) and Bulgaria (X tons) were the main suppliers of waffle and wafer imports to Russia, together accounting for 65% of total imports. These countries were followed by Belarus, Turkey, Germany, the Czech Republic and Austria, which together accounted for a further 27%.

From 2012 to 2021, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by the Czech Republic (with a CAGR of +112.5%), while imports for the other leaders experienced more modest paces of growth.

In value terms, Poland ($X), Bulgaria ($X) and Germany ($X) appeared to be the largest waffle and wafer suppliers to Russia, with a combined 65% share of total imports. Kazakhstan, Turkey, Belarus, the Czech Republic and Austria lagged somewhat behind, together accounting for a further 26%.

In terms of the main suppliers, the Czech Republic, with a CAGR of +91.7%, recorded 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

In 2021, the average waffle and wafer import price amounted to $X per ton, growing by 9.5% against the previous year. Over the period from 2012 to 2021, it increased at an average annual rate of +2.3%. The most prominent rate of growth was recorded in 2013 an increase of 10% against the previous year. The import price peaked at $X per ton in 2015; however, from 2016 to 2021, import prices stood at a somewhat lower figure.

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

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Germany (+1.3%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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