South-Eastern Asia: Waffle And Wafer Market 2024

Waffle And Wafer Market Size in South-Eastern Asia

In 2021, the Southeast Asian waffle and wafer market decreased by -0.6% to $X, falling for the second year in a row after three years of growth. The market value increased at an average annual rate of +2.4% over the period from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. As a result, consumption attained the peak level of $X. From 2020 to 2021, the growth of the market failed to regain momentum.

Waffle And Wafer Production in South-Eastern Asia

In value terms, waffle and wafer production stood at $X in 2021 estimated in export price. The total output value increased at an average annual rate of +3.2% over the period from 2012 to 2021; however, the trend pattern remained relatively stable, with somewhat noticeable fluctuations being recorded throughout the analyzed period. The most prominent rate of growth was recorded in 2019 when the production volume increased by 17%. As a result, production attained the peak level of $X; afterwards, it flattened through to 2021.

Waffle And Wafer Exports

Exports in South-Eastern Asia

In 2021, overseas shipments of waffles and wafers increased by 14% to X tons for the first time since 2018, thus ending a two-year declining trend. Overall, exports showed a remarkable increase. The growth pace was the most rapid in 2016 when exports increased by 32% against the previous year. The volume of export peaked in 2021 and is expected to retain growth in the near future.

In value terms, waffle and wafer exports surged to $X in 2021. Over the period under review, exports saw prominent growth. The pace of growth appeared the most rapid in 2016 with an increase of 26% against the previous year. Over the period under review, the exports attained the maximum at $X in 2018; however, from 2019 to 2021, the exports failed to regain momentum.

Exports by Country

Indonesia dominates exports structure, reaching X tons, which was approx. 86% of total exports in 2021. It was distantly followed by Malaysia (X tons) and Thailand (X tons), together generating a 12% share of total exports.

Indonesia was also the fastest-growing in terms of the waffles and wafers exports, with a CAGR of +21.6% from 2012 to 2021. At the same time, Thailand (+5.8%) displayed positive paces of growth. By contrast, Malaysia (-2.1%) illustrated a downward trend over the same period. From 2012 to 2021, the share of Indonesia increased by +32 percentage points.

In value terms, Indonesia ($X) remains the largest waffle and wafer supplier in South-Eastern Asia, comprising 81% of total exports. The second position in the ranking was held by Malaysia ($X), with a 12% share of total exports.

From 2012 to 2021, the average annual rate of growth in terms of value in Indonesia totaled +17.0%. The remaining exporting countries recorded the following average annual rates of exports growth: Malaysia (-1.9% per year) and Thailand (+3.7% per year).

Export Prices by Country

The export price in South-Eastern Asia stood at $X per ton in 2021, therefore, remained relatively stable against the previous year. In general, the export price, however, showed a noticeable decline. The level of export peaked at $X per ton in 2012; however, from 2013 to 2021, the export prices remained at a lower figure.

Prices varied noticeably country of origin: the country with the highest price was Malaysia ($X per ton), while Indonesia ($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 (+0.3%), while the other leaders experienced a decline in the export price figures.

Waffle And Wafer Imports

Imports in South-Eastern Asia

In 2021, purchases abroad of waffles and wafers decreased by -4.3% to X tons, falling for the second year in a row after eight years of growth. Overall, imports, however, saw buoyant growth. The growth pace was the most rapid in 2018 with an increase of 42% against the previous year. The volume of import peaked at X tons in 2019; however, from 2020 to 2021, imports stood at a somewhat lower figure.

In value terms, waffle and wafer imports stood at $X in 2021. Over the period under review, imports, however, showed strong growth. The pace of growth appeared the most rapid in 2018 with an increase of 40% against the previous year. As a result, imports attained the peak of $X. From 2019 to 2021, the growth of imports failed to regain momentum.

Imports by Country

In 2021, the Philippines (X tons), Thailand (X tons) and Myanmar (X tons) was the major importer of waffles and wafers in South-Eastern Asia, comprising 63% of total import. Vietnam (X tons) ranks next in terms of the total imports with a 12% share, followed by Malaysia (12%) and Singapore (6%). Indonesia (X tons) followed a long way behind the leaders.

From 2012 to 2021, the most notable rate of growth in terms of purchases, amongst the main importing countries, was attained by Myanmar (with a CAGR of +60.4%), while imports for the other leaders experienced more modest paces of growth.

In value terms, Thailand ($X), the Philippines ($X) and Vietnam ($X) were the countries with the highest levels of imports in 2021, with a combined 59% share of total imports. These countries were followed by Malaysia, Myanmar, Singapore and Indonesia, which together accounted for a further 37%.

Among the main importing countries, Myanmar, with a CAGR of +49.1%, 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 import price in South-Eastern Asia stood at $X per ton in 2021, picking up by 5.1% against the previous year. Over the period under review, the import price, however, continues to indicate a noticeable shrinkage. The growth pace was the most rapid in 2013 an increase of 7.1% against the previous year. As a result, import price reached the peak level of $X per ton. From 2014 to 2021, the import prices remained at a lower figure.

There were significant differences in the average prices amongst the major importing countries. In 2021, 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 Vietnam (+3.1%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform

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