South-Eastern Asia: Market for Sweet Biscuits, Waffles and Wafers 2024

Market Size for Sweet Biscuits, Waffles and Wafers in South-Eastern Asia

In 2021, after three years of decline, there was growth in the Southeast Asian market for sweet biscuits, waffles and wafers, when its value increased by 3.9% to $X. The total consumption indicated a remarkable increase from 2012 to 2021: its value increased at an average annual rate of +5.4% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, consumption decreased by -11.3% against 2017 indices. Over the period under review, the market reached the peak level at $X in 2017; however, from 2018 to 2021, consumption stood at a somewhat lower figure.

Production of Sweet Biscuits, Waffles and Wafers in South-Eastern Asia

In value terms, sweet biscuit, waffle and wafer production reached $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 +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, production decreased by -12.3% against 2017 indices. The most prominent rate of growth was recorded in 2015 when the production volume increased by 20% against the previous year. The level of production peaked at $X in 2017; however, from 2018 to 2021, production stood at a somewhat lower figure.

Exports of Sweet Biscuits, Waffles and Wafers

Exports in South-Eastern Asia

In 2021, exports of sweet biscuits, waffles and wafers in South-Eastern Asia expanded remarkably to X tons, picking up by 11% on the year before. In general, exports continue to indicate a prominent expansion. The most prominent rate of growth was recorded in 2016 with an increase of 23%. The volume of export peaked in 2021 and is likely to continue growth in the near future.

In value terms, sweet biscuit, waffle and wafer exports rose sharply to $X in 2021. Total exports indicated a prominent expansion from 2012 to 2021: its value increased at an average annual rate of +9.5% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. The most prominent rate of growth was recorded in 2014 with an increase of 20% against the previous year. The level of export peaked in 2021 and is likely to see gradual growth in years to come.

Exports by Country

Indonesia represented the largest exporter of sweet biscuits, waffles and wafers in South-Eastern Asia, with the volume of exports accounting for X tons, which was near 69% of total exports in 2021. Malaysia (X tons) held a 17% share (based on physical terms) of total exports, which put it in second place, followed by Thailand (9.3%). Singapore (X tons) held a little share of total exports.

Exports from Indonesia increased at an average annual rate of +15.5% from 2012 to 2021. At the same time, Thailand (+16.5%) and Malaysia (+1.3%) displayed positive paces of growth. Moreover, Thailand emerged as the fastest-growing exporter exported in South-Eastern Asia, with a CAGR of +16.5% from 2012-2021. By contrast, Singapore (-1.1%) illustrated a downward trend over the same period. While the share of Indonesia (+23 p.p.) and Thailand (+3.6 p.p.) increased significantly in terms of the total exports from 2012-2021, the share of Singapore (-4.3 p.p.) and Malaysia (-19.9 p.p.) displayed negative dynamics.

In value terms, Indonesia ($X) remains the largest sweet biscuit, waffle and wafer supplier in South-Eastern Asia, comprising 61% of total exports. The second position in the ranking was taken by Malaysia ($X), with a 19% share of total exports. It was followed by Thailand, with a 13% share.

In Indonesia, sweet biscuit, waffle and wafer exports increased at an average annual rate of +13.2% over the period from 2012-2021. In the other countries, the average annual rates were as follows: Malaysia (+4.0% per year) and Thailand (+14.7% per year).

Export Prices by Country

In 2021, the export price in South-Eastern Asia amounted to $X per ton, flattening at the previous year. Over the period under review, the export price, however, saw a relatively flat trend pattern. The pace of growth appeared the most rapid in 2013 when the export price increased by 11%. The level of export peaked at $X per ton in 2015; however, from 2016 to 2021, the export prices failed to regain momentum.

There were significant differences in the average prices amongst the major exporting countries. In 2021, amid the top suppliers, the country with the highest price was Singapore ($X per ton), while Indonesia ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Malaysia (+2.7%), while the other leaders experienced mixed trends in the export price figures.

Imports of Sweet Biscuits, Waffles and Wafers

Imports in South-Eastern Asia

Sweet biscuit, waffle and wafer imports reached X tons in 2021, picking up by 4% on 2020 figures. In general, imports recorded a remarkable increase. The most prominent rate of growth was recorded in 2017 with an increase of 28%. The volume of import peaked in 2021 and is expected to retain growth in the immediate term.

In value terms, sweet biscuit, waffle and wafer imports totaled $X in 2021. Overall, imports saw a resilient increase. The most prominent rate of growth was recorded in 2018 when imports increased by 22% against the previous year. Over the period under review, imports hit record highs in 2021 and are expected to retain growth in years to come.

Imports by Country

The countries with the highest levels of sweet biscuit, waffle and wafer imports in 2021 were Thailand (X tons), Malaysia (X tons), the Philippines (X tons), Vietnam (X tons), Myanmar (X tons) and Singapore (X tons), together accounting for 91% of total import. It was distantly followed by Indonesia (X tons), creating a 5.4% share of total imports.

From 2012 to 2021, the most notable rate of growth in terms of purchases, amongst the key importing countries, was attained by Myanmar (with a CAGR of +90.1%), while imports for the other leaders experienced more modest paces of growth.

In value terms, the largest sweet biscuit, waffle and wafer importing markets in South-Eastern Asia were Vietnam ($X), Thailand ($X) and Malaysia ($X), with a combined 52% share of total imports. These countries were followed by Singapore, the Philippines, Myanmar and Indonesia, which together accounted for a further 44%.

Myanmar, with a CAGR of +78.0%, recorded the highest growth rate of the value of imports, among the main importing countries over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

In 2021, the import price in South-Eastern Asia amounted to $X per ton, rising by 5.1% against the previous year. Over the period under review, the import price, however, showed a pronounced reduction. The level of import peaked at $X per ton in 2014; however, from 2015 to 2021, import prices remained at a lower figure.

Prices varied noticeably by country of destination: amid the top importers, the country with the highest price was Singapore ($X per ton), while Myanmar ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Indonesia (+1.0%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform

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