Saudi Arabia: Market for Sweet Biscuits, Waffles and Wafers 2024

Market Size for Sweet Biscuits, Waffles and Wafers in Saudi Arabia

In 2021, the Saudi market for sweet biscuits, waffles and wafers decreased by -4.4% to $X for the first time since 2016, thus ending a four-year rising trend. In general, the total consumption indicated a remarkable increase from 2012 to 2021: its value increased at an average annual rate of +5.9% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Over the period under review, the market attained the peak level at $X in 2020, and then fell slightly in the following year.

Production of Sweet Biscuits, Waffles and Wafers in Saudi Arabia

In value terms, sweet biscuit, waffle and wafer production reduced slightly to $X in 2021 estimated in export price. Overall, the total production indicated a temperate increase from 2012 to 2021: its value increased at an average annual rate of +4.5% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, production increased by +57.2% against 2014 indices. The most prominent rate of growth was recorded in 2015 with an increase of 32% against the previous year. Over the period under review, production hit record highs at $X in 2020, and then fell modestly in the following year.

Exports of Sweet Biscuits, Waffles and Wafers

Exports from Saudi Arabia

In 2021, after two years of growth, there was significant decline in shipments abroad of sweet biscuits, waffles and wafers, when their volume decreased by -10.8% to X tons. Overall, exports showed a perceptible downturn. The most prominent rate of growth was recorded in 2019 when exports increased by 4.5%. 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 fell modestly to $X in 2021. In general, exports, however, recorded a relatively flat trend pattern. The most prominent rate of growth was recorded in 2019 with an increase of 11%. Over the period under review, the exports attained the maximum at $X in 2015; however, from 2016 to 2021, the exports failed to regain momentum.

Exports by Country

Yemen (X tons) was the main destination for sweet biscuit, waffle and wafer exports from Saudi Arabia, with a 30% share of total exports. Moreover, sweet biscuit, waffle and wafer exports to Yemen exceeded the volume sent to the second major destination, Iraq (X tons), twofold. The third position in this ranking was held by Kuwait (X tons), with an 11% share.

From 2012 to 2021, the average annual growth rate of volume to Yemen totaled -2.9%. Exports to the other major destinations recorded the following average annual rates of exports growth: Iraq (-3.8% per year) and Kuwait (+5.5% per year).

In value terms, Yemen ($X), Kuwait ($X) and the United Arab Emirates ($X) constituted the largest markets for sweet biscuit, waffle and wafer exported from Saudi Arabia worldwide, with a combined 51% share of total exports. These countries were followed by Iraq, Jordan, Somalia, Oman, Bahrain, Djibouti, Libya, Sudan, Egypt and Mauritania, which together accounted for a further 36%.

Djibouti, with a CAGR of +21.0%, recorded the highest growth rate of the value of exports, among the main countries of destination over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

The average export price for sweet biscuits, waffles and wafers stood at $X per ton in 2021, picking up by 11% against the previous year. Over the last nine years, it increased at an average annual rate of +5.3%. The most prominent rate of growth was recorded in 2014 when the average export price increased by 17% against the previous year. Over the period under review, the average export prices attained the peak figure in 2021 and is likely to continue growth in the near future.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Bahrain ($X per ton), while the average price for exports to Mauritania ($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 Iraq (+12.3%), while the prices for the other major destinations experienced more modest paces of growth.

Imports of Sweet Biscuits, Waffles and Wafers

Imports into Saudi Arabia

In 2021, supplies from abroad of sweet biscuits, waffles and wafers decreased by -11.4% to X tons, falling for the second year in a row after two years of growth. The total import volume increased at an average annual rate of +3.5% from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The pace of growth appeared the most rapid in 2015 with an increase of 26%. Imports peaked at X tons in 2019; however, from 2020 to 2021, imports remained at a lower figure.

In value terms, sweet biscuit, waffle and wafer imports shrank slightly to $X in 2021. Overall, total imports 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, imports decreased by -5.6% against 2019 indices. The pace of growth appeared the most rapid in 2018 when imports increased by 26%. Over the period under review, imports reached the peak figure at $X in 2019; however, from 2020 to 2021, imports remained at a lower figure.

Imports by Country

The United Arab Emirates (X tons), Italy (X tons) and Bahrain (X tons) were the main suppliers of sweet biscuit, waffle and wafer imports to Saudi Arabia, with a combined 42% share of total imports. The UK, Egypt, Bangladesh, Poland, Germany, Belgium, Croatia, the United States, Syrian Arab Republic and Austria lagged somewhat behind, together accounting for a further 41%.

From 2012 to 2021, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by Bangladesh (with a CAGR of +39.0%), while imports for the other leaders experienced more modest paces of growth.

In value terms, the largest sweet biscuit, waffle and wafer suppliers to Saudi Arabia were Italy ($X), the United Arab Emirates ($X) and the UK ($X), together accounting for 49% of total imports. These countries were followed by Bahrain, Egypt, Poland, Austria, Germany, Belgium, the United States, Croatia, Bangladesh and Syrian Arab Republic, which together accounted for a further 35%.

Bangladesh, with a CAGR of +43.7%, recorded the highest growth rate of the value of imports, among the main suppliers 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 import price for sweet biscuits, waffles and wafers amounted to $X per ton, surging by 11% against the previous year. Over the period from 2012 to 2021, it increased at an average annual rate of +1.1%. As a result, import price reached the peak level and is likely to continue growth in the immediate term.

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 Austria ($X per ton), while the price for Bangladesh ($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 (+8.3%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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