South Africa: Waffle And Wafer Market 2024

Waffle And Wafer Market Size in South Africa

In 2021, after three years of growth, there was decline in the South African waffle and wafer market, when its value decreased by -2.6% to $X. The market value increased at an average annual rate of +3.3% over the period from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. Over the period under review, the market attained the maximum level at $X in 2014; however, from 2015 to 2021, consumption failed to regain momentum.

Waffle And Wafer Production in South Africa

In value terms, waffle and wafer production reduced slightly to $X in 2021 estimated in export price. The total output value increased at an average annual rate of +3.4% over the period from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The growth pace was the most rapid in 2013 with an increase of 42% against the previous year. Over the period under review, production reached the peak level at $X in 2014; however, from 2015 to 2021, production failed to regain momentum.

Waffle And Wafer Exports

Exports from South Africa

In 2021, overseas shipments of waffles and wafers decreased by -22.6% to X tons, falling for the second year in a row after five years of growth. In general, exports showed a abrupt decrease. The most prominent rate of growth was recorded in 2017 when exports increased by 27% against the previous year. The exports peaked at X tons in 2012; however, from 2013 to 2021, the exports stood at a somewhat lower figure.

In value terms, waffle and wafer exports reduced remarkably to $X in 2021. Over the period under review, exports recorded a pronounced reduction. The growth pace was the most rapid in 2018 with an increase of 27% against the previous year. Over the period under review, the exports reached the peak figure at $X in 2012; however, from 2013 to 2021, the exports remained at a lower figure.

Exports by Country

Namibia (X tons), Mozambique (X tons) and Botswana (X tons) were the main destinations of waffle and wafer exports from South Africa, together accounting for 49% of total exports. Zimbabwe, Zambia, Swaziland, Malawi, Mauritius and Kenya lagged somewhat behind, together comprising a further 38%.

From 2012 to 2021, the biggest increases were recorded for Malawi (with a CAGR of +14.2%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, the largest markets for waffle and wafer exported from South Africa were Namibia ($X), Zimbabwe ($X) and Botswana ($X), together comprising 45% of total exports. Mozambique, Zambia, Swaziland, Malawi, Mauritius and Kenya lagged somewhat behind, together comprising a further 33%.

In terms of the main countries of destination, Malawi, with a CAGR of +17.6%, saw the highest growth rate of 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 2021, the average waffle and wafer export price amounted to $X per ton, surging by 9.4% against the previous year. Over the period from 2012 to 2021, it increased at an average annual rate of +3.4%. The most prominent rate of growth was recorded in 2014 when the average export price increased by 36% against the previous year. As a result, the export price attained the peak level of $X per ton. From 2015 to 2021, the average export prices remained at a somewhat lower figure.

Prices varied noticeably country of destination: the country with the highest price was Mauritius ($X per ton), while the average price for exports to Mozambique ($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 Kenya (+11.6%), while the prices for the other major destinations experienced more modest paces of growth.

Waffle And Wafer Imports

Imports into South Africa

In 2021, waffle and wafer imports into South Africa amounted to X tons, rising by 9.2% on the year before. In general, imports continue to indicate resilient growth. The most prominent rate of growth was recorded in 2017 when imports increased by 111% against the previous year. Over the period under review, imports hit record highs at X tons in 2019; afterwards, it flattened through to 2021.

In value terms, waffle and wafer imports reached $X in 2021. Over the period under review, imports enjoyed a prominent expansion. The growth pace was the most rapid in 2017 with an increase of 106%. As a result, imports attained the peak of $X. From 2018 to 2021, the growth of imports failed to regain momentum.

Imports by Country

Turkey (X tons), India (X tons) and Poland (X tons) were the main suppliers of waffle and wafer imports to South Africa, together accounting for 57% of total imports. These countries were followed by Indonesia, Germany, Spain, the United Arab Emirates, Italy, Ukraine, the Netherlands, Pakistan and Brazil, which together accounted for a further 39%.

From 2012 to 2021, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by Pakistan (with a CAGR of +31.6%), while imports for the other leaders experienced more modest paces of growth.

In value terms, the largest waffle and wafer suppliers to South Africa were Poland ($X), Indonesia ($X) and India ($X), together comprising 52% of total imports. These countries were followed by Germany, Italy, Turkey, the Netherlands, Spain, the United Arab Emirates, Ukraine, Pakistan and Brazil, which together accounted for a further 41%.

Among the main suppliers, Ukraine, with a CAGR of +30.7%, recorded the highest growth rate of the value of imports, over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

The average waffle and wafer import price stood at $X per ton in 2021, leveling off at the previous year. In general, the import price saw a slight curtailment. The pace of growth appeared the most rapid in 2014 when the average import price increased by 32% against the previous year. As a result, import price reached the peak level of $X per ton. From 2015 to 2021, the average import prices failed to regain momentum.

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

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by India (+11.9%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

Frequently Asked Questions (FAQ) :