Southern Asia: Waffle And Wafer Market 2024

Waffle And Wafer Market Size in Southern Asia

The South Asian waffle and wafer market was estimated at $X in 2021, almost unchanged from the previous year. In general, consumption, however, posted a prominent expansion. Over the period under review, the market attained the peak level at $X in 2019; however, from 2020 to 2021, consumption remained at a lower figure.

Waffle And Wafer Production in Southern Asia

In value terms, waffle and wafer production amounted to $X in 2021 estimated in export price. Overall, production, however, showed resilient growth. The pace of growth was the most pronounced in 2019 with an increase of 21% against the previous year. As a result, production reached the peak level of $X; afterwards, it flattened through to 2021.

Waffle And Wafer Exports

Exports in Southern Asia

In 2021, waffle and wafer exports in Southern Asia soared to X tons, jumping by 37% on the year before. Total exports indicated a strong increase from 2012 to 2021: its volume increased at an average annual rate of +8.3% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, exports increased by +24.5% against 2017 indices. The most prominent rate of growth was recorded in 2016 when exports increased by 41% against the previous year. Over the period under review, the exports hit record highs in 2021 and are expected to retain growth in the immediate term.

In value terms, waffle and wafer exports skyrocketed to $X in 2021. In general, exports continue to indicate a strong increase. The pace of growth appeared the most rapid in 2016 with an increase of 57% against the previous year. Over the period under review, the exports attained the maximum in 2021 and are likely to continue growth in the immediate term.

Exports by Country

India prevails in exports structure, recording X tons, which was near 92% of total exports in 2021. Bangladesh (X tons) and Pakistan (X tons) took a little share of total exports.

From 2012 to 2021, average annual rates of growth with regard to waffle and wafer exports from India stood at +7.6%. At the same time, Pakistan (+41.0%) and Bangladesh (+40.8%) displayed positive paces of growth. Moreover, Pakistan emerged as the fastest-growing exporter exported in Southern Asia, with a CAGR of +41.0% from 2012-2021. While the share of Bangladesh (+3.7 p.p.) and Pakistan (+2.4 p.p.) increased significantly in terms of the total exports from 2012-2021, the share of India (-5.7 p.p.) displayed negative dynamics.

In value terms, India ($X) remains the largest waffle and wafer supplier in Southern Asia, comprising 94% of total exports. The second position in the ranking was held by Bangladesh ($X), with a 2.9% share of total exports.

From 2012 to 2021, the average annual rate of growth in terms of value in India totaled +13.1%. The remaining exporting countries recorded the following average annual rates of exports growth: Bangladesh (+46.0% per year) and Pakistan (+44.2% per year).

Export Prices by Country

The export price in Southern Asia stood at $X per ton in 2021, remaining constant against the previous year. Export price indicated notable growth from 2012 to 2021: its price increased at an average annual rate of +4.8% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, waffle and wafer export price decreased by -14.1% against 2019 indices. The pace of growth appeared the most rapid in 2015 when the export price increased by 18%. The level of export peaked at $X per ton in 2019; however, from 2020 to 2021, the export prices stood at a somewhat lower figure.

Average prices varied somewhat amongst the major exporting countries. In 2021, the country with the highest price was India ($X per ton), while Bangladesh ($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 (+5.1%), while the other leaders experienced more modest paces of growth.

Waffle And Wafer Imports

Imports in Southern Asia

In 2021, supplies from abroad of waffles and wafers decreased by -15.7% to X tons, falling for the third year in a row after seven years of growth. Overall, imports, however, saw a prominent expansion. The most prominent rate of growth was recorded in 2015 with an increase of 83%. Over the period under review, imports attained the maximum at X tons in 2018; however, from 2019 to 2021, imports stood at a somewhat lower figure.

In value terms, waffle and wafer imports expanded markedly to $X in 2021. In general, imports, however, saw a strong expansion. The growth pace was the most rapid in 2015 with an increase of 110%. The level of import peaked at $X in 2018; however, from 2019 to 2021, imports failed to regain momentum.

Imports by Country

India was the major importing country with an import of around X tons, which finished at 47% of total imports. Nepal (X tons) took a 15% share (based on physical terms) of total imports, which put it in second place, followed by Afghanistan (12%), Maldives (9.4%), Pakistan (7.8%) and Bangladesh (6.9%). Sri Lanka (X tons) followed a long way behind the leaders.

From 2012 to 2021, average annual rates of growth with regard to waffle and wafer imports into India stood at +7.9%. At the same time, Bangladesh (+28.2%), Sri Lanka (+20.4%), Nepal (+16.9%), Afghanistan (+8.4%) and Maldives (+5.7%) displayed positive paces of growth. Moreover, Bangladesh emerged as the fastest-growing importer imported in Southern Asia, with a CAGR of +28.2% from 2012-2021. Pakistan experienced a relatively flat trend pattern. From 2012 to 2021, the share of Nepal and Bangladesh increased by +7.6 and +5.3 percentage points, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, India ($X) constitutes the largest market for imported waffles and wafers in Southern Asia, comprising 46% of total imports. The second position in the ranking was held by Nepal ($X), with a 19% share of total imports. It was followed by Maldives, with an 11% share.

In India, waffle and wafer imports increased at an average annual rate of +10.7% over the period from 2012-2021. The remaining importing countries recorded the following average annual rates of imports growth: Nepal (+21.7% per year) and Maldives (+9.6% per year).

Import Prices by Country

The import price in Southern Asia stood at $X per ton in 2021, surging by 31% against the previous year. Over the last nine years, it increased at an average annual rate of +2.3%. As a result, import price reached the peak level and is likely to continue growth in the immediate term.

Prices varied noticeably country of destination: the country with the highest price was Nepal ($X per ton), while Pakistan ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Nepal (+4.1%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform

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