Southern Asia: Market for Gingerbread, Sweet Biscuits and Waffles 2024

Market Size for Gingerbread, Sweet Biscuits and Waffles in Southern Asia

In 2022, the South Asian market for gingerbread, sweet biscuits and waffles decreased by -0.4% to $X, falling for the second consecutive year after six years of growth. The market value increased at an average annual rate of +1.3% from 2012 to 2022; the trend pattern remained relatively stable, with only minor fluctuations being recorded in certain years. The pace of growth appeared the most rapid in 2017 with an increase of 8.1%. Over the period under review, the market attained the peak level at $X in 2020; however, from 2021 to 2022, consumption failed to regain momentum.

Production of Gingerbread, Sweet Biscuits and Waffles in Southern Asia

In value terms, gingerbread, sweet biscuit and waffle production reached $X in 2022 estimated in export price. The total output value increased at an average annual rate of +1.5% over the period from 2012 to 2022; the trend pattern remained relatively stable, with somewhat noticeable fluctuations being observed in certain years. The pace of growth was the most pronounced in 2017 with an increase of 8.6% against the previous year. Over the period under review, production hit record highs at $X in 2020; afterwards, it flattened through to 2022.

Exports of Gingerbread, Sweet Biscuits and Waffles

Exports in Southern Asia

In 2022, approx. X tons of gingerbread, sweet biscuits and waffles were exported in Southern Asia; growing by 24% against 2021. Total exports indicated strong growth from 2012 to 2022: its volume increased at an average annual rate of +6.5% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, exports increased by +56.3% against 2018 indices. The pace of growth was the most pronounced in 2013 with an increase of 29%. Over the period under review, the exports reached the peak figure in 2022 and are likely to see gradual growth in years to come.

In value terms, gingerbread, sweet biscuit and waffle exports soared to $X in 2022. Total exports indicated a prominent expansion from 2012 to 2022: its value increased at an average annual rate of +8.3% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, exports increased by +72.4% against 2016 indices. The most prominent rate of growth was recorded in 2013 when exports increased by 44% against the previous year. Over the period under review, the exports reached the peak figure in 2022 and are expected to retain growth in years to come.

Exports by Country

India dominates exports structure, finishing at X tons, which was near 86% of total exports in 2022. It was distantly followed by Pakistan (X tons), committing a 6.9% share of total exports. The following exporters - Bangladesh (X tons) and Sri Lanka (X tons) - each reached a 6.6% share of total exports.

Exports from India increased at an average annual rate of +6.2% from 2012 to 2022. At the same time, Bangladesh (+17.5%), Pakistan (+10.0%) and Sri Lanka (+3.5%) displayed positive paces of growth. Moreover, Bangladesh emerged as the fastest-growing exporter exported in Southern Asia, with a CAGR of +17.5% from 2012-2022. While the share of Bangladesh (+2.1 p.p.) and Pakistan (+1.9 p.p.) increased significantly in terms of the total exports from 2012-2022, the share of India (-2.9 p.p.) displayed negative dynamics. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, India ($X) remains the largest gingerbread, sweet biscuit and waffle supplier in Southern Asia, comprising 80% of total exports. The second position in the ranking was taken by Pakistan ($X), with a 12% share of total exports. It was followed by Sri Lanka, with a 5.5% share.

In India, gingerbread, sweet biscuit and waffle exports expanded at an average annual rate of +7.5% over the period from 2012-2022. In the other countries, the average annual rates were as follows: Pakistan (+11.9% per year) and Sri Lanka (+10.6% per year).

Export Prices by Country

In 2022, the export price in Southern Asia amounted to $X per ton, growing by 7.2% against the previous year. Over the last decade, it increased at an average annual rate of +1.7%. The pace of growth was the most pronounced in 2013 when the export price increased by 11%. Over the period under review, the export prices reached the maximum in 2022 and is expected to retain growth in the immediate term.

There were significant differences in the average prices amongst the major exporting countries. In 2022, amid the top suppliers, the country with the highest price was Pakistan ($X per ton), while Bangladesh ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Sri Lanka (+6.9%), while the other leaders experienced more modest paces of growth.

Imports of Gingerbread, Sweet Biscuits and Waffles

Imports in Southern Asia

In 2022, gingerbread, sweet biscuit and waffle imports in Southern Asia dropped to X tons, reducing by -2% on 2021. Over the period under review, imports, however, enjoyed a modest expansion. The most prominent rate of growth was recorded in 2013 when imports increased by 59% against the previous year. The volume of import peaked at X tons in 2018; however, from 2019 to 2022, imports remained at a lower figure.

In value terms, gingerbread, sweet biscuit and waffle imports dropped slightly to $X in 2022. Total imports indicated a tangible expansion from 2012 to 2022: its value increased at an average annual rate of +3.7% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports increased by +15.5% against 2020 indices. The pace of growth was the most pronounced in 2013 when imports increased by 66% against the previous year. The level of import peaked at $X in 2018; however, from 2019 to 2022, imports failed to regain momentum.

Imports by Country

In 2022, India (X tons), Nepal (X tons), Afghanistan (X tons) and Maldives (X tons) was the main importer of gingerbread, sweet biscuits and waffles in Southern Asia, committing 89% of total import. Bhutan (X tons), Bangladesh (X tons) and Pakistan (X tons) took a minor share of total imports.

From 2012 to 2022, the most notable rate of growth in terms of purchases, amongst the main importing countries, was attained by Bangladesh (with a CAGR of +27.2%), while imports for the other leaders experienced more modest paces of growth.

In value terms, the largest gingerbread, sweet biscuit and waffle importing markets in Southern Asia were India ($X), Nepal ($X) and Maldives ($X), together accounting for 73% of total imports. Afghanistan, Bangladesh, Bhutan and Pakistan lagged somewhat behind, together accounting for a further 26%.

Among the main importing countries, Bangladesh, with a CAGR of +28.4%, saw 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

In 2022, the import price in Southern Asia amounted to $X per ton, dropping by -2.9% against the previous year. Over the last decade, it increased at an average annual rate of +1.9%. The pace of growth was the most pronounced in 2019 an increase of 14% against the previous year. As a result, import price attained the peak level of $X per ton. From 2020 to 2022, the import prices remained at a somewhat lower figure.

There were significant differences in the average prices amongst the major importing countries. In 2022, amid the top importers, the country with the highest price was Bangladesh ($X per ton), while Afghanistan ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Nepal (+4.0%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform

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