Scandinavia: Market for Sweet Biscuits, Waffles and Wafers 2024

Market Size for Sweet Biscuits, Waffles and Wafers in Scandinavia

The Scandinavia market for sweet biscuits, waffles and wafers dropped remarkably to $X in 2021, with a decrease of -42.4% against the previous year. Overall, consumption continues to indicate a abrupt downturn. The level of consumption peaked at $X in 2012; however, from 2013 to 2021, consumption stood at a somewhat lower figure.

Production of Sweet Biscuits, Waffles and Wafers in Scandinavia

In value terms, sweet biscuit, waffle and wafer production surged to $X in 2021 estimated in export price. The total production indicated prominent growth from 2012 to 2021: its value increased at an average annual rate of +6.7% 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 +26.8% against 2019 indices. The most prominent rate of growth was recorded in 2016 when the production volume increased by 49%. Over the period under review, production reached the maximum level at $X in 2018; however, from 2019 to 2021, production failed to regain momentum.

Exports of Sweet Biscuits, Waffles and Wafers

Exports in Scandinavia

For the sixth consecutive year, Scandinavia recorded growth in shipments abroad of sweet biscuits, waffles and wafers, which increased by 5.1% to X tons in 2021. Total exports indicated a resilient increase from 2012 to 2021: its volume increased at an average annual rate of +5.6% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, exports increased by +80.4% against 2013 indices. The growth pace was the most rapid in 2017 when exports increased by 21% against the previous year. Over the period under review, the exports reached the maximum in 2021 and are likely to continue growth in the near future.

In value terms, sweet biscuit, waffle and wafer exports rose notably to $X in 2021. Total exports indicated a prominent increase from 2012 to 2021: its value increased at an average annual rate of +5.0% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, exports increased by +78.4% against 2016 indices. The growth pace was the most rapid in 2017 with an increase of 22% against the previous year. Over the period under review, the exports reached the peak figure in 2021 and are likely to see steady growth in the immediate term.

Exports by Country

Sweden dominates exports structure, accounting for X tons, which was near 96% of total exports in 2021. Finland (X tons) followed a long way behind the leaders.

Sweden was also the fastest-growing in terms of the sweet biscuits, waffles and wafers exports, with a CAGR of +5.7% from 2012 to 2021. At the same time, Finland (+1.8%) displayed positive paces of growth. The shares of the largest exporters remained relatively stable throughout the analyzed period.

In value terms, Sweden ($X) remains the largest sweet biscuit, waffle and wafer supplier in Scandinavia, comprising 94% of total exports. The second position in the ranking was taken by Finland ($X), with a 3.9% share of total exports.

In Sweden, sweet biscuit, waffle and wafer exports expanded at an average annual rate of +5.0% over the period from 2012-2021.

Export Prices by Country

In 2021, the export price in Scandinavia amounted to $X per ton, growing by 8.8% against the previous year. In general, the export price, however, continues to indicate a relatively flat trend pattern. The pace of growth was the most pronounced in 2013 when the export price increased by 15% against the previous year. As a result, the export price attained the peak level of $X per ton. From 2014 to 2021, the export prices remained at a lower figure.

Average prices varied noticeably amongst the major exporting countries. In 2021, amid the top suppliers, the country with the highest price was Finland ($X per ton), while Sweden amounted to $X per ton.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Finland (+2.9%).

Imports of Sweet Biscuits, Waffles and Wafers

Imports in Scandinavia

In 2021, overseas purchases of sweet biscuits, waffles and wafers decreased by -10.3% to X tons for the first time since 2015, thus ending a five-year rising trend. The total import volume increased at an average annual rate of +3.1% 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 2020 when imports increased by 13% against the previous year. As a result, imports reached the peak of X tons, and then fell in the following year.

In value terms, sweet biscuit, waffle and wafer imports stood at $X in 2021. The total import value increased at an average annual rate of +1.8% 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 2017 with an increase of 11%. The level of import peaked in 2021 and is expected to retain growth in the near future.

Imports by Country

Sweden represented the main importer of sweet biscuits, waffles and wafers in Scandinavia, with the volume of imports recording X tons, which was approx. 53% of total imports in 2021. Norway (X tons) held a 26% share (based on physical terms) of total imports, which put it in second place, followed by Finland (22%).

Sweden was also the fastest-growing in terms of the sweet biscuits, waffles and wafers imports, with a CAGR of +6.1% from 2012 to 2021. Norway and Finland experienced a relatively flat trend pattern. Sweden (+12 p.p.) significantly strengthened its position in terms of the total imports, while Norway and Finland saw its share reduced by -5.3% and -6.7% from 2012 to 2021, respectively.

In value terms, Sweden ($X), Norway ($X) and Finland ($X) appeared to be the countries with the highest levels of imports in 2021.

Among the main importing countries, Sweden, with a CAGR of +4.8%, saw the highest rates of growth with regard to the value of imports, over the period under review, while purchases for the other leaders experienced mixed trends in the imports figures.

Import Prices by Country

In 2021, the import price in Scandinavia amounted to $X per ton, picking up by 12% against the previous year. Over the period under review, the import price, however, saw a mild slump. The level of import peaked at $X per ton in 2013; however, from 2014 to 2021, import prices remained at a lower figure.

Average prices varied somewhat amongst the major importing countries. In 2021, amid the top importers, the country with the highest price was Norway ($X per ton), while Sweden ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Norway (-0.7%), while the other leaders experienced a decline in the import price figures.

Source: IndexBox Platform