Spain: Waffle And Wafer Market 2024

Waffle And Wafer Market Size in Spain

The Spanish waffle and wafer market surged to $X in 2021, picking up by 18% against the previous year. In general, the total consumption indicated a prominent expansion from 2012 to 2021: its value increased at an average annual rate of +6.5% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, consumption increased by +75.3% against 2017 indices. Over the period under review, the market attained the maximum level in 2021 and is likely to see gradual growth in the near future.

Waffle And Wafer Production in Spain

In value terms, waffle and wafer production rose rapidly to $X in 2021 estimated in export price. In general, the total production indicated a strong increase from 2012 to 2021: its value increased at an average annual rate of +6.6% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, production increased by +66.1% against 2015 indices. The growth pace was the most rapid in 2013 with an increase of 28%. Waffle and wafer production peaked in 2021 and is likely to continue growth in years to come.

Waffle And Wafer Exports

Exports from Spain

Waffle and wafer exports from Spain expanded remarkably to X tons in 2021, rising by 14% on the previous year's figure. In general, total exports indicated buoyant growth from 2012 to 2021: its volume increased at an average annual rate of +7.2% 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 +2.1% against 2017 indices. The most prominent rate of growth was recorded in 2017 when exports increased by 47% against the previous year. The exports peaked in 2021 and are expected to retain growth in years to come.

In value terms, waffle and wafer exports soared to $X in 2021. Over the period under review, total exports indicated a buoyant increase from 2012 to 2021: its value increased at an average annual rate of +11.1% 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 +11.7% against 2017 indices. The most prominent rate of growth was recorded in 2013 with an increase of 118%. The exports peaked in 2021 and are expected to retain growth in years to come.

Exports by Country

Morocco (X tons), France (X tons) and Portugal (X tons) were the main destinations of waffle and wafer exports from Spain, together accounting for 55% of total exports. These countries were followed by the UK, Serbia, Israel, Germany, the United States and Italy, which together accounted for a further 23%.

From 2012 to 2021, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by Serbia (with a CAGR of +215.2%), while the other leaders experienced more modest paces of growth.

In value terms, Morocco ($X), Portugal ($X) and the UK ($X) were the largest markets for waffle and wafer exported from Spain worldwide, with a combined 43% share of total exports. These countries were followed by France, Germany, Israel, the United States, Serbia and Italy, which together accounted for a further 31%.

Serbia, with a CAGR of +112.5%, recorded the highest growth rate of the value of exports, among the main countries of destination over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

The average waffle and wafer export price stood at $X per ton in 2021, jumping by 15% against the previous year. Over the last nine-year period, it increased at an average annual rate of +3.6%. The growth pace was the most rapid in 2013 when the average export price increased by 57%. As a result, the export price reached the peak level of $X per ton. From 2014 to 2021, the average export prices remained at a somewhat lower figure.

There were significant differences in the average prices for the major external markets. In 2021, the country with the highest price was the UK ($X per ton), while the average price for exports to Serbia ($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 the UK (+11.3%), while the prices for the other major destinations experienced more modest paces of growth.

Waffle And Wafer Imports

Imports into Spain

In 2021, approx. X tons of waffles and wafers were imported into Spain; with an increase of 10% on the previous year. The total import volume increased at an average annual rate of +3.1% from 2012 to 2021; the trend pattern remained relatively stable, with only minor fluctuations being recorded in certain years. The most prominent rate of growth was recorded in 2019 when imports increased by 14%. Over the period under review, imports hit record highs in 2021 and are expected to retain growth in the near future.

In value terms, waffle and wafer imports soared to $X in 2021. The total import value increased at an average annual rate of +4.1% from 2012 to 2021; the trend pattern remained consistent, with only minor fluctuations being observed in certain years. As a result, imports attained the peak and are likely to continue growth in the immediate term.

Imports by Country

Italy (X tons), Germany (X tons) and Poland (X tons) were the main suppliers of waffle and wafer imports to Spain, together accounting for 69% of total imports.

From 2012 to 2021, the biggest increases were recorded for Poland (with a CAGR of +19.2%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, the largest waffle and wafer suppliers to Spain were Italy ($X), Poland ($X) and Germany ($X), together accounting for 76% of total imports.

In terms of the main suppliers, Poland, with a CAGR of +23.4%, saw the highest rates of growth with regard to 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 2021, the average waffle and wafer import price amounted to $X per ton, surging by 5.5% against the previous year. Over the period under review, the import price saw a slight expansion. The pace of growth appeared the most rapid in 2013 when the average import price increased by 9.8%. Over the period under review, average import prices reached the peak figure at $X per ton in 2014; however, from 2015 to 2021, import prices stood at a somewhat lower figure.

Prices varied noticeably country of origin: the country with the highest price was Poland ($X per ton), while the price for Belgium ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Portugal (+5.5%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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