Sri Lanka: Waffle And Wafer Market 2024

Waffle And Wafer Market Size in Sri Lanka

The Sri Lankan waffle and wafer market reached $X in 2021, increasing by 5.6% against the previous year. In general, the total consumption indicated a remarkable increase from 2012 to 2021: its value increased at an average annual rate of +7.2% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, consumption decreased by -4.9% against 2019 indices. Over the period under review, the market hit record highs at $X in 2019; however, from 2020 to 2021, consumption failed to regain momentum.

Waffle And Wafer Production in Sri Lanka

In value terms, waffle and wafer production amounted to $X in 2021 estimated in export price. In general, the total production indicated a remarkable increase from 2012 to 2021: its value 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, production decreased by -6.6% against 2019 indices. The pace of growth appeared the most rapid in 2018 when the production volume increased by 70% against the previous year. Waffle and wafer production peaked at $X in 2019; however, from 2020 to 2021, production remained at a lower figure.

Waffle And Wafer Exports

Exports from Sri Lanka

In 2021, the amount of waffles and wafers exported from Sri Lanka skyrocketed to X tons, picking up by 188% compared with the year before. In general, exports recorded a strong increase. As a result, the exports reached the peak and are likely to continue growth in the immediate term.

In value terms, waffle and wafer exports soared to $X in 2021. Overall, exports showed notable growth. The pace of growth was the most pronounced in 2018 when exports increased by 182% against the previous year. Over the period under review, the exports hit record highs in 2021 and are expected to retain growth in the near future.

Exports by Country

Samoa (X tons), India (X tons) and the UK (X tons) were the main destinations of waffle and wafer exports from Sri Lanka, together comprising 68% of total exports. Ghana, Seychelles, Oman, Egypt, the United States and Maldives lagged somewhat behind, together comprising a further 22%.

From 2012 to 2021, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by Seychelles (with a CAGR of +75.1%), while the other leaders experienced more modest paces of growth.

In value terms, India ($X), Samoa ($X) and the UK ($X) appeared to be the largest markets for waffle and wafer exported from Sri Lanka worldwide, with a combined 71% share of total exports. These countries were followed by Ghana, the United States, Maldives, Egypt, Oman and Seychelles, which together accounted for a further 19%.

Seychelles, with a CAGR of +30.6%, 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

In 2021, the average waffle and wafer export price amounted to $X per ton, waning by -19.6% against the previous year. Over the period under review, the export price saw a noticeable descent. The pace of growth was the most pronounced in 2018 when the average export price increased by 71%. As a result, the export price attained the peak level of $X per ton. From 2019 to 2021, the average export prices remained at a lower figure.

Prices varied noticeably country of destination: the country with the highest price was the United States ($X per ton), while the average price for exports to Seychelles ($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 Ghana (+1.7%), while the prices for the other major destinations experienced a decline.

Waffle And Wafer Imports

Imports into Sri Lanka

In 2021, after three years of decline, there was significant growth in supplies from abroad of waffles and wafers, when their volume increased by 1,005% to X tons. In general, imports enjoyed significant growth. As a result, imports attained the peak and are likely to continue growth in the immediate term.

In value terms, waffle and wafer imports skyrocketed to $X in 2021. Overall, imports saw significant growth. As a result, imports attained the peak and are likely to continue growth in the immediate term.

Imports by Country

India (X tons), the United Arab Emirates (X tons) and the Netherlands (X tons) were the main suppliers of waffle and wafer imports to Sri Lanka, together accounting for 50% of total imports. These countries were followed by Switzerland, Malaysia, Austria, the United States and Turkey, which together accounted for a further 21%.

From 2012 to 2021, the biggest increases were recorded for Austria (with a CAGR of +117.5%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, the largest waffle and wafer suppliers to Sri Lanka were the Netherlands ($X), India ($X) and Malaysia ($X), with a combined 43% share of total imports.

Malaysia, with a CAGR of +98.6%, recorded the highest rates of growth with regard to the value of imports, in terms of the main suppliers 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, falling by -25.7% against the previous year. Overall, the import price, however, recorded a relatively flat trend pattern. The pace of growth was the most pronounced in 2014 when the average import price increased by 66% against the previous year. The import price peaked at $X per ton in 2020, and then dropped significantly in the following year.

There were significant differences in the average prices amongst the major supplying countries. In 2021, the country with the highest price was the United States ($X per ton), while the price for Turkey ($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 (+24.0%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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