Thailand: Waffle And Wafer Market 2024

Waffle And Wafer Market Size in Thailand

The Thai waffle and wafer market rose notably to $X in 2021, increasing by 14% against the previous year. In general, the total consumption indicated a temperate increase from 2012 to 2021: its value increased at an average annual rate of +2.5% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, consumption increased by +60.7% against 2016 indices. Waffle and wafer consumption peaked in 2021 and is expected to retain growth in the immediate term.

Waffle And Wafer Production in Thailand

In value terms, waffle and wafer production expanded sharply to $X in 2021 estimated in export price. The total output value increased at an average annual rate of +1.6% from 2012 to 2021; the trend pattern indicated some noticeable fluctuations being recorded in certain years. The growth pace was the most rapid in 2019 when the production volume increased by 33%. As a result, production attained the peak level of $X. From 2020 to 2021, production growth remained at a lower figure.

Waffle And Wafer Exports

Exports from Thailand

After two years of decline, shipments abroad of waffles and wafers increased by 17% to X tons in 2021. Overall, total exports indicated a resilient increase from 2012 to 2021: its volume increased at an average annual rate of +5.8% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. The growth pace was the most rapid in 2015 with an increase of 36%. The exports peaked at X tons in 2016; however, from 2017 to 2021, the exports stood at a somewhat lower figure.

In value terms, waffle and wafer exports rose significantly to $X in 2021. Over the period under review, total exports indicated a noticeable increase from 2012 to 2021: its value increased at an average annual rate of +3.7% 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 decreased by -27.9% against 2017 indices. The most prominent rate of growth was recorded in 2016 with an increase of 23%. The exports peaked at $X in 2017; however, from 2018 to 2021, the exports failed to regain momentum.

Exports by Country

Lao People's Democratic Republic (X tons) was the main destination for waffle and wafer exports from Thailand, with a 30% share of total exports. Moreover, waffle and wafer exports to Lao People's Democratic Republic exceeded the volume sent to the second major destination, Vietnam (X tons), twofold. Ghana (X tons) ranked third in terms of total exports with an 11% share.

From 2012 to 2021, the average annual rate of growth in terms of volume to Lao People's Democratic Republic amounted to +16.0%. Exports to the other major destinations recorded the following average annual rates of exports growth: Vietnam (+13.9% per year) and Ghana (-9.0% per year).

In value terms, Lao People's Democratic Republic ($X) remains the key foreign market for waffles and wafers exports from Thailand, comprising 31% of total exports. The second position in the ranking was held by Vietnam ($X), with a 13% share of total exports. It was followed by Cambodia, with an 8.7% share.

From 2012 to 2021, the average annual rate of growth in terms of value to Lao People's Democratic Republic stood at +12.8%. Exports to the other major destinations recorded the following average annual rates of exports growth: Vietnam (+7.6% per year) and Cambodia (+3.7% per year).

Export Prices by Country

In 2021, the average waffle and wafer export price amounted to $X per ton, which is down by -5% against the previous year. Over the period under review, the export price recorded a perceptible descent. The most prominent rate of growth was recorded in 2019 when the average export price increased by 20%. As a result, the export price reached the peak level of $X per ton. From 2020 to 2021, the average export prices remained at a lower figure.

Prices varied noticeably country of destination: the country with the highest price was China ($X per ton), while the average price for exports to Myanmar ($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 Cote d'Ivoire (-1.5%), while the prices for the other major destinations experienced a decline.

Waffle And Wafer Imports

Imports into Thailand

In 2021, imports of waffles and wafers into Thailand soared to X tons, with an increase of 30% against the year before. Over the period under review, total imports indicated a remarkable increase from 2012 to 2021: its volume increased at an average annual rate of +8.0% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, imports increased by +101.1% against 2013 indices. As a result, imports attained the peak and are likely to continue growth in the immediate term.

In value terms, waffle and wafer imports soared to $X in 2021. The total import value increased at an average annual rate of +4.0% over the period from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. As a result, imports reached the peak and are likely to continue growth in the immediate term.

Imports by Country

In 2021, Indonesia (X tons) constituted the largest supplier of waffle and wafer to Thailand, with a 60% share of total imports. Moreover, waffle and wafer imports from Indonesia exceeded the figures recorded by the second-largest supplier, China (X tons), threefold. The third position in this ranking was taken by Malaysia (X tons), with an 11% share.

From 2012 to 2021, the average annual rate of growth in terms of volume from Indonesia amounted to +7.1%. The remaining supplying countries recorded the following average annual rates of imports growth: China (+59.1% per year) and Malaysia (-0.3% per year).

In value terms, Indonesia ($X) constituted the largest supplier of waffles and wafers to Thailand, comprising 44% of total imports. The second position in the ranking was held by Malaysia ($X), with a 16% share of total imports. It was followed by China, with a 15% share.

From 2012 to 2021, the average annual growth rate of value from Indonesia stood at +3.0%. The remaining supplying countries recorded the following average annual rates of imports growth: Malaysia (-5.2% per year) and China (+68.0% per year).

Import Prices by Country

In 2021, the average waffle and wafer import price amounted to $X per ton, stabilizing at the previous year. In general, the import price recorded a pronounced decline. The growth pace was the most rapid in 2013 when the average import price increased by 6.3% against the previous year. As a result, import price reached the peak level of $X per ton. From 2014 to 2021, the average import prices remained at a lower figure.

There were significant differences in the average prices amongst the major supplying countries. In 2021, the country with the highest price was Italy ($X per ton), while the price for Indonesia ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by China (+5.6%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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