Ukraine: Waffle And Wafer Market 2024

Waffle And Wafer Market Size in Ukraine

In 2021, the Ukrainian waffle and wafer market decreased by -9.8% to $X, falling for the second year in a row after three years of growth. Over the period under review, consumption showed a abrupt shrinkage. The most prominent rate of growth was recorded in 2018 with an increase of 9.5%. Over the period under review, the market hit record highs at $X in 2012; however, from 2013 to 2021, consumption remained at a lower figure.

Waffle And Wafer Production in Ukraine

In value terms, waffle and wafer production rose slightly to $X in 2021 estimated in export price. Overall, production, however, recorded a deep reduction. The pace of growth was the most pronounced in 2019 when the production volume increased by 19% against the previous year. Waffle and wafer production peaked at $X in 2012; however, from 2013 to 2021, production remained at a lower figure.

Waffle And Wafer Exports

Exports from Ukraine

For the third consecutive year, Ukraine recorded growth in shipments abroad of waffles and wafers, which increased by 14% to X tons in 2021. Over the period under review, total exports indicated a modest increase from 2012 to 2021: its volume increased at an average annual rate of +1.3% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, exports increased by +69.0% against 2016 indices. The most prominent rate of growth was recorded in 2020 with an increase of 19% against the previous year. The exports peaked in 2021 and are expected to retain growth in the near future.

In value terms, waffle and wafer exports soared to $X in 2021. Overall, exports showed a resilient expansion. As a result, the exports reached the peak and are likely to continue growth in the immediate term.

Exports by Country

Romania (X tons) was the main destination for waffle and wafer exports from Ukraine, with a 31% share of total exports. Moreover, waffle and wafer exports to Romania exceeded the volume sent to the second major destination, Hungary (X tons), fourfold. Georgia (X tons) ranked third in terms of total exports with a 6% share.

From 2012 to 2021, the average annual rate of growth in terms of volume to Romania totaled +98.5%. Exports to the other major destinations recorded the following average annual rates of exports growth: Hungary (+215.2% per year) and Georgia (+1.6% per year).

In value terms, Romania ($X) remains the key foreign market for waffles and wafers exports from Ukraine, comprising 28% of total exports. The second position in the ranking was taken by Libya ($X), with an 11% share of total exports. It was followed by Hungary, with a 7% share.

From 2012 to 2021, the average annual rate of growth in terms of value to Romania amounted to +113.0%. Exports to the other major destinations recorded the following average annual rates of exports growth: Libya (+191.0% per year) and Hungary (+224.0% per year).

Export Prices by Country

The average waffle and wafer export price stood at $X per ton in 2021, rising by 37% against the previous year. In general, the export price saw a remarkable increase. As a result, the export price attained the peak level and is likely to continue growth in the immediate term.

There were significant differences in the average prices for the major overseas markets. In 2021, the country with the highest price was Libya ($X per ton), while the average price for exports to Moldova ($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 Libya (+23.2%), while the prices for the other major destinations experienced more modest paces of growth.

Waffle And Wafer Imports

Imports into Ukraine

In 2021, purchases abroad of waffles and wafers increased by 26% to X tons, rising for the fifth year in a row after three years of decline. Overall, imports showed a prominent increase. The pace of growth was the most pronounced in 2019 with an increase of 66%. Over the period under review, imports reached the peak figure in 2021 and are expected to retain growth in the near future.

In value terms, waffle and wafer imports surged to $X in 2021. In general, imports posted a noticeable increase. The growth pace was the most rapid in 2019 with an increase of 65% against the previous year. Over the period under review, imports hit record highs in 2021 and are expected to retain growth in the near future.

Imports by Country

Poland (X tons), Bulgaria (X tons) and Germany (X tons) were the main suppliers of waffle and wafer imports to Ukraine, together comprising 75% of total imports.

From 2012 to 2021, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by Bulgaria (with a CAGR of +61.0%), while imports for the other leaders experienced more modest paces of growth.

In value terms, Poland ($X), Bulgaria ($X) and Germany ($X) appeared to be the largest waffle and wafer suppliers to Ukraine, with a combined 77% share of total imports.

Bulgaria, with a CAGR of +66.2%, recorded the highest growth rate of the value of imports, among 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, remaining relatively unchanged against the previous year. In general, the import price continues to indicate a relatively flat trend pattern. The most prominent rate of growth was recorded in 2016 an increase of 13% against the previous year. The import price peaked at $X per ton in 2012; however, from 2013 to 2021, 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 Russia ($X per ton), while the price for Belarus ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Russia (+35.2%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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