Singapore: Market for Gingerbread, Sweet Biscuits and Waffles 2025

Market Size for Gingerbread, Sweet Biscuits and Waffles in Singapore

The Singaporean market for gingerbread, sweet biscuits and waffles stood at $X in 2022, surging by 5.2% against the previous year. The market value increased at an average annual rate of +3.0% from 2012 to 2022; the trend pattern remained consistent, with only minor fluctuations being recorded throughout the analyzed period. Gingerbread, sweet biscuit and waffle consumption peaked in 2022 and is expected to retain growth in the immediate term.

Production of Gingerbread, Sweet Biscuits and Waffles in Singapore

In value terms, gingerbread, sweet biscuit and waffle production declined slightly to $X in 2022 estimated in export price. The total output value increased at an average annual rate of +1.1% from 2012 to 2022; the trend pattern remained consistent, with somewhat noticeable fluctuations being recorded in certain years. The most prominent rate of growth was recorded in 2019 when the production volume increased by 12%. As a result, production attained the peak level of $X. From 2020 to 2022, production growth remained at a lower figure.

Exports of Gingerbread, Sweet Biscuits and Waffles

Exports from Singapore

In 2022, overseas shipments of gingerbread, sweet biscuits and waffles increased by 15% to X tons, rising for the second year in a row after two years of decline. Overall, exports recorded a relatively flat trend pattern. The exports peaked at X tons in 2014; however, from 2015 to 2022, the exports remained at a lower figure.

In value terms, gingerbread, sweet biscuit and waffle exports soared to $X in 2022. The total export value increased at an average annual rate of +1.0% from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The exports peaked at $X in 2014; however, from 2015 to 2022, the exports remained at a lower figure.

Exports by Country

Malaysia (X tons) was the main destination for gingerbread, sweet biscuit and waffle exports from Singapore, accounting for a 19% share of total exports. Moreover, gingerbread, sweet biscuit and waffle exports to Malaysia exceeded the volume sent to the second major destination, Japan (X tons), threefold. Saudi Arabia (X tons) ranked third in terms of total exports with a 6.2% share.

From 2012 to 2022, the average annual growth rate of volume to Malaysia stood at +5.5%. Exports to the other major destinations recorded the following average annual rates of exports growth: Japan (+6.6% per year) and Saudi Arabia (-1.8% per year).

In value terms, the largest markets for gingerbread, sweet biscuit and waffle exported from Singapore were Malaysia ($X), Japan ($X) and Saudi Arabia ($X), with a combined 33% share of total exports. The Philippines, the United Arab Emirates, China, Taiwan (Chinese), Australia, Indonesia, Vietnam, Kuwait, Hong Kong SAR and Papua New Guinea lagged somewhat behind, together comprising a further 43%.

In terms of the main countries of destination, Indonesia, with a CAGR of +13.3%, saw the highest rates of growth with regard to 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 2022, the average export price for gingerbread, sweet biscuits and waffles amounted to $X per ton, surging by 2.6% against the previous year. Over the period under review, the export price showed a relatively flat trend pattern. The pace of growth was the most pronounced in 2018 when the average export price increased by 5% against the previous year. As a result, the export price attained the peak level of $X per ton. From 2019 to 2022, the average export prices remained at a lower figure.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Japan ($X per ton), while the average price for exports to Papua New Guinea ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to the United Arab Emirates (+2.2%), while the prices for the other major destinations experienced more modest paces of growth.

Imports of Gingerbread, Sweet Biscuits and Waffles

Imports into Singapore

Gingerbread, sweet biscuit and waffle imports into Singapore totaled X tons in 2022, approximately equating 2021 figures. The total import volume increased at an average annual rate of +2.1% from 2012 to 2022; the trend pattern remained consistent, with somewhat noticeable fluctuations being observed in certain years. The most prominent rate of growth was recorded in 2018 when imports increased by 6.4% against the previous year. Over the period under review, imports reached the peak figure in 2022 and are expected to retain growth in years to come.

In value terms, gingerbread, sweet biscuit and waffle imports expanded sharply to $X in 2022. The total import value increased at an average annual rate of +3.4% from 2012 to 2022; the trend pattern remained relatively stable, with somewhat noticeable fluctuations being observed throughout the analyzed period. The growth pace was the most rapid in 2018 with an increase of 14% against the previous year. Imports peaked in 2022 and are likely to continue growth in the immediate term.

Imports by Country

In 2022, Malaysia (X tons) constituted the largest gingerbread, sweet biscuit and waffle supplier to Singapore, with a 45% share of total imports. Moreover, gingerbread, sweet biscuit and waffle imports from Malaysia exceeded the figures recorded by the second-largest supplier, Indonesia (X tons), fourfold. The third position in this ranking was held by the UK (X tons), with a 7.4% share.

From 2012 to 2022, the average annual rate of growth in terms of volume from Malaysia totaled +2.9%. The remaining supplying countries recorded the following average annual rates of imports growth: Indonesia (+0.3% per year) and the UK (+2.8% per year).

In value terms, Malaysia ($X) constituted the largest supplier of gingerbread, sweet biscuits and waffles to Singapore, comprising 34% of total imports. The second position in the ranking was taken by the UK ($X), with a 9% share of total imports. It was followed by Indonesia, with a 7.9% share.

From 2012 to 2022, the average annual growth rate of value from Malaysia amounted to +4.7%. The remaining supplying countries recorded the following average annual rates of imports growth: the UK (+3.0% per year) and Indonesia (+0.3% per year).

Import Prices by Country

The average import price for gingerbread, sweet biscuits and waffles stood at $X per ton in 2022, surging by 9.4% against the previous year. Over the period from 2012 to 2022, it increased at an average annual rate of +1.3%. As a result, import price reached the peak level and is likely to continue growth in the immediate term.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was Japan ($X per ton), while the price for Bangladesh ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Italy (+1.8%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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