Uruguay: Market for Gingerbread, Sweet Biscuits and Waffles 2024

Market Size for Gingerbread, Sweet Biscuits and Waffles in Uruguay

The Uruguayan market for gingerbread, sweet biscuits and waffles soared to $X in 2022, jumping by 29% against the previous year. Overall, consumption, however, showed a slight setback. Over the period under review, the market hit record highs at $X in 2013; however, from 2014 to 2022, consumption stood at a somewhat lower figure.

Production of Gingerbread, Sweet Biscuits and Waffles in Uruguay

In value terms, gingerbread, sweet biscuit and waffle production surged to $X in 2022 estimated in export price. In general, production, however, showed a perceptible slump. The most prominent rate of growth was recorded in 2020 with an increase of 7,741% against the previous year. Gingerbread, sweet biscuit and waffle production peaked at $X in 2013; however, from 2014 to 2022, production failed to regain momentum.

Exports of Gingerbread, Sweet Biscuits and Waffles

Exports from Uruguay

After two years of growth, overseas shipments of gingerbread, sweet biscuits and waffles decreased by -23% to X tons in 2022. Overall, exports saw a deep setback. The growth pace was the most rapid in 2016 with an increase of 17%. The exports peaked at X tons in 2012; however, from 2013 to 2022, the exports failed to regain momentum.

In value terms, gingerbread, sweet biscuit and waffle exports reduced to $X in 2022. Over the period under review, exports continue to indicate a abrupt shrinkage. The pace of growth appeared the most rapid in 2016 with an increase of 12%. The exports peaked at $X in 2012; however, from 2013 to 2022, the exports stood at a somewhat lower figure.

Exports by Country

Paraguay (X tons) was the main destination for gingerbread, sweet biscuit and waffle exports from Uruguay, with a 82% share of total exports. Moreover, gingerbread, sweet biscuit and waffle exports to Paraguay exceeded the volume sent to the second major destination, Argentina (X tons), sixfold. The United States (X tons) ranked third in terms of total exports with a 3.4% share.

From 2012 to 2022, the average annual growth rate of volume to Paraguay amounted to -10.3%. Exports to the other major destinations recorded the following average annual rates of exports growth: Argentina (+11.0% per year) and the United States (-13.8% per year).

In value terms, Paraguay ($X) remains the key foreign market for gingerbread, sweet biscuits and waffles exports from Uruguay, comprising 71% of total exports. The second position in the ranking was held by Argentina ($X), with a 22% share of total exports. It was followed by the United States, with a 3.7% share.

From 2012 to 2022, the average annual rate of growth in terms of value to Paraguay amounted to -7.8%. Exports to the other major destinations recorded the following average annual rates of exports growth: Argentina (+12.9% per year) and the United States (-10.7% per year).

Export Prices by Country

In 2022, the average export price for gingerbread, sweet biscuits and waffles amounted to $X per ton, rising by 12% against the previous year. Over the last decade, it increased at an average annual rate of +3.8%. The most prominent rate of growth was recorded in 2018 an increase of 32%. As a result, the export price reached the peak level of $X per ton; afterwards, it flattened through to 2022.

There were significant differences in the average prices for the major external markets. In 2022, amid the top suppliers, the country with the highest price was Argentina ($X per ton), while the average price for exports to Paraguay ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Brazil (+6.6%), while the prices for the other major destinations experienced more modest paces of growth.

Imports of Gingerbread, Sweet Biscuits and Waffles

Imports into Uruguay

Gingerbread, sweet biscuit and waffle imports into Uruguay rose notably to X tons in 2022, growing by 6.2% against the previous year. The total import volume increased at an average annual rate of +3.9% from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The growth pace was the most rapid in 2018 with an increase of 14% against the previous year. Over the period under review, imports hit record highs at X tons in 2019; however, from 2020 to 2022, imports failed to regain momentum.

In value terms, gingerbread, sweet biscuit and waffle imports skyrocketed to $X in 2022. The total import value increased at an average annual rate of +2.3% from 2012 to 2022; however, the trend pattern remained consistent, with only minor fluctuations throughout the analyzed period. As a result, imports attained the peak and are likely to continue growth in the immediate term.

Imports by Country

Brazil (X tons), Argentina (X tons) and Bolivia (X tons) were the main suppliers of gingerbread, sweet biscuit and waffle imports to Uruguay, together comprising 95% of total imports. These countries were followed by Paraguay, which accounted for a further 1.5%.

From 2012 to 2022, the biggest increases were recorded for Paraguay (with a CAGR of +39.2%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, Argentina ($X), Brazil ($X) and Bolivia ($X) were the largest gingerbread, sweet biscuit and waffle suppliers to Uruguay, with a combined 92% share of total imports. Paraguay lagged somewhat behind, accounting for a further 1.6%.

Paraguay, with a CAGR of +36.8%, recorded the highest rates of growth with regard to 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

The average import price for gingerbread, sweet biscuits and waffles stood at $X per ton in 2022, increasing by 17% against the previous year. In general, the import price, however, saw a slight decrease. Over the period under review, average import prices hit record highs at $X per ton in 2013; however, from 2014 to 2022, import prices remained at a lower figure.

Average prices varied somewhat amongst the major supplying countries. In 2022, amid the top importers, the highest price was recorded for prices from Argentina ($X per ton) and Paraguay ($X per ton), while the price for Brazil ($X per ton) and Bolivia ($X per ton) were amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Bolivia (+0.7%), while the prices for the other major suppliers experienced a decline.

Source: IndexBox Platform

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