Uruguay: Market for Sweet Biscuits, Waffles and Wafers 2024

Market Size for Sweet Biscuits, Waffles and Wafers in Uruguay

In 2021, the Uruguayan market for sweet biscuits, waffles and wafers increased by 9% to $X for the first time since 2018, thus ending a two-year declining trend. Over the period under review, consumption showed a relatively flat trend pattern. Sweet biscuit, waffle and wafer consumption peaked at $X in 2018; however, from 2019 to 2021, consumption failed to regain momentum.

Exports of Sweet Biscuits, Waffles and Wafers

Exports from Uruguay

In 2021, overseas shipments of sweet biscuits, waffles and wafers increased by 9.1% to X tons, rising for the second year in a row after two years of decline. Over the period under review, exports, however, continue to indicate a abrupt shrinkage. The most prominent rate of growth was recorded in 2016 with an increase of 21% against the previous year. The exports peaked at X tons in 2012; however, from 2013 to 2021, the exports stood at a somewhat lower figure.

In value terms, sweet biscuit, waffle and wafer exports rose notably to $X in 2021. In general, exports, however, showed a noticeable descent. The pace of growth was the most pronounced in 2016 with an increase of 17%. The exports peaked at $X in 2012; however, from 2013 to 2021, the exports stood at a somewhat lower figure.

Exports by Country

Paraguay (X tons) was the main destination for sweet biscuit, waffle and wafer exports from Uruguay, accounting for a 88% share of total exports. Moreover, sweet biscuit, waffle and wafer exports to Paraguay exceeded the volume sent to the second major destination, Argentina (X tons), more than tenfold.

From 2012 to 2021, the average annual rate of growth in terms of volume to Paraguay totaled -7.7%. Exports to the other major destinations recorded the following average annual rates of exports growth: Argentina (+8.8% per year) and the United States (-10.9% per year).

In value terms, Paraguay ($X) remains the key foreign market for sweet biscuits, waffles and wafers exports from Uruguay, comprising 81% of total exports. The second position in the ranking was held by Argentina ($X), with a 13% share of total exports.

From 2012 to 2021, the average annual growth rate of value to Paraguay totaled -5.3%. Exports to the other major destinations recorded the following average annual rates of exports growth: Argentina (+9.7% per year) and the United States (-6.8% per year).

Export Prices by Country

In 2021, the average export price for sweet biscuits, waffles and wafers amounted to $X per ton, flattening at the previous year. Over the last nine years, it increased at an average annual rate of +3.0%. The pace of growth was the most pronounced in 2018 an increase of 32%. As a result, the export price reached the peak level of $X per ton. From 2019 to 2021, the average export prices remained at a lower figure.

Prices varied noticeably by country of destination: 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 2021, the most notable rate of growth in terms of prices was recorded for supplies to the United States (+4.6%), while the prices for the other major destinations experienced more modest paces of growth.

Imports of Sweet Biscuits, Waffles and Wafers

Imports into Uruguay

In 2021, the amount of sweet biscuits, waffles and wafers imported into Uruguay totaled X tons, with an increase of 2.3% compared with the year before. The total import volume increased at an average annual rate of +3.4% from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The most prominent rate of growth was recorded in 2018 with an increase of 13% against the previous year. Over the period under review, imports hit record highs at X tons in 2019; however, from 2020 to 2021, imports stood at a somewhat lower figure.

In value terms, sweet biscuit, waffle and wafer imports reached $X in 2021. Over the period under review, imports, however, recorded a relatively flat trend pattern. The most prominent rate of growth was recorded in 2017 when imports increased by 17% against the previous year. Imports peaked at $X in 2018; however, from 2019 to 2021, imports failed to regain momentum.

Imports by Country

Brazil (X tons), Argentina (X tons) and Bolivia (X tons) were the main suppliers of sweet biscuit, waffle and wafer imports to Uruguay, together comprising 97% of total imports.

From 2012 to 2021, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by Brazil (with a CAGR of +6.7%), while imports for the other leaders experienced mixed trend patterns.

In value terms, the largest sweet biscuit, waffle and wafer suppliers to Uruguay were Argentina ($X), Brazil ($X) and Bolivia ($X), together accounting for 93% of total imports.

Brazil, with a CAGR of +2.5%, saw 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 a decline.

Import Prices by Country

In 2021, the average import price for sweet biscuits, waffles and wafers amounted to $X per ton, rising by 9% against the previous year. Overall, the import price, however, saw a perceptible downturn. The import price peaked at $X per ton in 2013; however, from 2014 to 2021, import prices stood at a somewhat lower figure.

Average prices varied somewhat amongst the major supplying countries. In 2021, amid the top importers, the country with the highest price was Argentina ($X per ton), while the price for Brazil ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Bolivia (-1.0%), while the prices for the other major suppliers experienced a decline.

Source: IndexBox Platform

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