Saudi Arabia: Waffle And Wafer Market 2024

Waffle And Wafer Market Size in Saudi Arabia

The Saudi waffle and wafer market totaled $X in 2021, picking up by 5.1% against the previous year. This figure reflects the total revenues of producers and importers (excluding logistics costs, retail marketing costs, and retailers' margins, which will be included in the final consumer price). Over the period under review, consumption saw a buoyant expansion. Waffle and wafer consumption peaked in 2021 and is likely to continue growth in the immediate term.

Waffle And Wafer Exports

Exports from Saudi Arabia

In 2021, shipments abroad of waffles and wafers decreased by -1.2% to X tons for the first time since 2017, thus ending a three-year rising trend. The total export volume increased at an average annual rate of +1.5% 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 with an increase of 36%. As a result, the exports attained the peak of X tons. From 2014 to 2021, the growth of the exports remained at a somewhat lower figure.

In value terms, waffle and wafer exports soared to $X in 2021. Overall, total exports indicated buoyant growth from 2012 to 2021: its value increased at an average annual rate of +11.0% 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 +52.3% against 2017 indices. The pace of growth was the most pronounced in 2013 with an increase of 78% against the previous year. Over the period under review, the exports attained the peak figure in 2021 and are likely to see gradual growth in the near future.

Exports by Country

Sudan (X tons), the United Arab Emirates (X tons) and Lebanon (X tons) were the main destinations of waffle and wafer exports from Saudi Arabia, together comprising 71% of total exports.

From 2012 to 2021, the biggest increases were recorded for the United Arab Emirates (with a CAGR of +56.3%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, the United Arab Emirates ($X) emerged as the key foreign market for waffles and wafers exports from Saudi Arabia, comprising 49% of total exports. The second position in the ranking was taken by Lebanon ($X), with a 17% share of total exports. It was followed by Bahrain, with a 7.6% share.

From 2012 to 2021, the average annual growth rate of value to the United Arab Emirates totaled +58.0%. Exports to the other major destinations recorded the following average annual rates of exports growth: Lebanon (+32.4% per year) and Bahrain (+24.8% per year).

Export Prices by Country

The average waffle and wafer export price stood at $X per ton in 2021, surging by 25% against the previous year. Overall, export price indicated strong growth from 2012 to 2021: its price increased at an average annual rate of +9.4% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. The growth pace was the most rapid in 2013 an increase of 31%. The export price peaked in 2021 and is expected to retain growth in the near future.

There were significant differences in the average prices for the major foreign markets. In 2021, the country with the highest price was Bahrain ($X per ton), while the average price for exports to Sudan ($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 China (+20.4%), while the prices for the other major destinations experienced more modest paces of growth.

Waffle And Wafer Imports

Imports into Saudi Arabia

In 2021, waffle and wafer imports into Saudi Arabia was estimated at X tons, surging by 2.2% against the year before. Over the period under review, total imports indicated a perceptible expansion from 2012 to 2021: its volume increased at an average annual rate of +4.9% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, imports increased by +23.1% against 2017 indices. The pace of growth appeared the most rapid in 2015 with an increase of 44%. Over the period under review, imports hit record highs in 2021 and are expected to retain growth in years to come.

In value terms, waffle and wafer imports stood at $X in 2021. In general, imports recorded a strong increase. The pace of growth appeared the most rapid in 2015 with an increase of 46%. Over the period under review, imports hit record highs in 2021 and are likely to continue growth in the near future.

Imports by Country

The United Arab Emirates (X tons), Italy (X tons) and Poland (X tons) were the main suppliers of waffle and wafer imports to Saudi Arabia, with a combined 70% share of total imports.

From 2012 to 2021, the biggest increases were recorded for Poland (with a CAGR of +40.7%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, the largest waffle and wafer suppliers to Saudi Arabia were Italy ($X), the United Arab Emirates ($X) and Poland ($X), together comprising 74% of total imports.

Poland, with a CAGR of +45.7%, saw 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 waffle and wafer import price amounted to $X per ton, increasing by 2.8% against the previous year. Over the period from 2012 to 2021, it increased at an average annual rate of +3.0%. The most prominent rate of growth was recorded in 2018 when the average import price increased by 7.7% against the previous year. The import price peaked in 2021 and is expected to retain growth in years to come.

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

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Turkey (+9.5%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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