Slovakia: Waffle And Wafer Market 2024

Waffle And Wafer Market Size in Slovakia

In 2021, after four years of growth, there was significant decline in the Slovak waffle and wafer market, when its value decreased by -24.9% to $X. Overall, consumption, however, enjoyed a measured expansion. As a result, consumption attained the peak level of $X, and then dropped remarkably in the following year.

Waffle And Wafer Production in Slovakia

In value terms, waffle and wafer production fell sharply to $X in 2021 estimated in export price. Over the period under review, production, however, saw a significant increase. The growth pace was the most rapid in 2013 with an increase of 1,426% against the previous year. As a result, production attained the peak level of $X. From 2014 to 2021, production growth remained at a lower figure.

Waffle And Wafer Exports

Exports from Slovakia

Waffle and wafer exports from Slovakia expanded markedly to X tons in 2021, growing by 8.6% compared with the year before. Overall, exports enjoyed a significant increase. The most prominent rate of growth was recorded in 2013 when exports increased by 1,689% against the previous year. 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 rose notably to $X in 2021. Over the period under review, exports saw significant growth. The growth pace was the most rapid in 2013 when exports increased by 1,164%. As a result, the exports reached the peak of $X. From 2014 to 2021, the growth of the exports remained at a somewhat lower figure.

Exports by Country

The Czech Republic (X tons), Poland (X tons) and Hungary (X tons) were the main destinations of waffle and wafer exports from Slovakia, with a combined 93% share of total exports. The UK lagged somewhat behind, comprising a further 1.6%.

From 2012 to 2021, the biggest increases were recorded for the UK (with a CAGR of +67.2%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, the Czech Republic ($X) remains the key foreign market for waffles and wafers exports from Slovakia, comprising 66% of total exports. The second position in the ranking was held by Poland ($X), with a 20% share of total exports. It was followed by Hungary, with a 5% share.

From 2012 to 2021, the average annual growth rate of value to the Czech Republic stood at +33.7%. Exports to the other major destinations recorded the following average annual rates of exports growth: Poland (+49.9% per year) and Hungary (+8.1% per year).

Export Prices by Country

In 2021, the average waffle and wafer export price amounted to $X per ton, rising by 5.9% against the previous year. Over the period under review, the export price, however, continues to indicate a perceptible reduction. The most prominent rate of growth was recorded in 2018 when the average export price increased by 7.5%. Over the period under review, the average export prices hit record highs at $X per ton in 2012; however, from 2013 to 2021, the export prices remained at a lower figure.

There were significant differences in the average prices for the major foreign markets. In 2021, the country with the highest price was the UK ($X per ton), while the average price for exports to Hungary ($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 the Czech Republic (-0.9%), while the prices for the other major destinations experienced a decline.

Waffle And Wafer Imports

Imports into Slovakia

In 2021, imports of waffles and wafers into Slovakia expanded slightly to X tons, growing by 2.1% compared with the previous year's figure. The total import volume increased at an average annual rate of +2.6% from 2012 to 2021; the trend pattern remained consistent, with somewhat noticeable fluctuations throughout the analyzed period. The pace of growth appeared the most rapid in 2019 with an increase of 15%. Imports peaked in 2021 and are likely to continue growth in the near future.

In value terms, waffle and wafer imports expanded notably to $X in 2021. The total import value increased at an average annual rate of +4.0% over the period from 2012 to 2021; the trend pattern indicated some noticeable fluctuations being recorded in certain years. The pace of growth was the most pronounced in 2013 when imports increased by 17% against the previous year. Over the period under review, imports reached the peak figure in 2021 and are expected to retain growth in years to come.

Imports by Country

The Czech Republic (X tons), Poland (X tons) and Germany (X tons) were the main suppliers of waffle and wafer imports to Slovakia, with a combined 80% share of total imports.

From 2012 to 2021, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by Poland (with a CAGR of +6.7%), while imports for the other leaders experienced more modest paces of growth.

In value terms, the Czech Republic ($X) constituted the largest supplier of waffles and wafers to Slovakia, comprising 51% of total imports. The second position in the ranking was held by Poland ($X), with a 22% share of total imports. It was followed by Germany, with a 9.6% share.

From 2012 to 2021, the average annual rate of growth in terms of value from the Czech Republic totaled +8.7%. The remaining supplying countries recorded the following average annual rates of imports growth: Poland (+3.4% per year) and Germany (+4.7% per year).

Import Prices by Country

In 2021, the average waffle and wafer import price amounted to $X per ton, growing by 4.5% against the previous year. Over the period from 2012 to 2021, it increased at an average annual rate of +1.4%. The most prominent rate of growth was recorded in 2018 an increase of 13%. The import price peaked in 2021 and is likely to see steady growth in the near future.

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

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by the Czech Republic (+5.6%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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