World - Waffles And Wafers Without Chocolate - Market Analysis, Forecast, Size, Trends And Insights
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View PricingWaffle and Wafer Market
Driven by increasing demand worldwide, the waffle and wafer market is expected to continue to grow, with consumption forecasted to reach 9.5M tons by 2030. The United States leads in both consumption and production, while the UK, Germany, and France are major importers. Export prices have been on an upward trend, with global exports reaching $5.8B in 2022. Overall, the market is set to see continued growth in the coming years.
Market Forecast
Driven by increasing demand for waffles and wafers worldwide, the market is expected to continue an upward consumption trend over the next eight-year period. Market performance is forecast to decelerate, expanding with an anticipated CAGR of +2.2% for the period from 2022 to 2030, which is projected to bring the market volume to 9.5M tons by the end of 2030.
In value terms, the market is forecast to increase with an anticipated CAGR of +4.6% for the period from 2022 to 2030, which is projected to bring the market value to $29.9B (in nominal prices) by the end of 2030.
Consumption
World Consumption of Waffles and Wafers
In 2022, after six years of growth, there was decline in consumption of waffles and wafers, when its volume decreased by -2.4% to 8M tons. The total consumption volume increased at an average annual rate of +3.2% over the period from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The pace of growth appeared the most rapid in 2019 when the consumption volume increased by 8.4% against the previous year. Global consumption peaked at 8.2M tons in 2021, and then reduced in the following year.
The global waffle and wafer market value dropped slightly to $20.9B in 2022, waning by -2.3% against the previous year. This figure reflects the total revenues of producers and importers (excluding logistics costs, retail marketing costs, and retailers' margins, which will be included in the final consumer price). The market value increased at an average annual rate of +4.1% over the period from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. Global consumption peaked at $21.4B in 2021, and then shrank slightly in the following year.
Consumption By Country
The country with the largest volume of waffle and wafer consumption was the United States (3M tons), accounting for 37% of total volume. Moreover, waffle and wafer consumption in the United States exceeded the figures recorded by the second-largest consumer, China (1.1M tons), threefold. The third position in this ranking was held by India (434K tons), with a 5.4% share.
From 2012 to 2022, the average annual growth rate of volume in the United States was relatively modest. In the other countries, the average annual rates were as follows: China (+8.0% per year) and India (+6.9% per year).
In value terms, the United States ($6.4B) led the market, alone. The second position in the ranking was held by China ($2.8B). It was followed by India.
In the United States, the waffle and wafer market remained relatively stable over the period from 2012-2022. In the other countries, the average annual rates were as follows: China (+8.2% per year) and India (+8.5% per year).
In 2022, the highest levels of waffle and wafer per capita consumption was registered in the United States (8.9 kg per person), followed by Russia (1.6 kg per person), Mexico (1 kg per person) and Bangladesh (1 kg per person), while the world average per capita consumption of waffle and wafer was estimated at 1 kg per person.
From 2012 to 2022, the average annual rate of growth in terms of the waffle and wafer per capita consumption in the United States was relatively modest. In the other countries, the average annual rates were as follows: Russia (+1.3% per year) and Mexico (+3.7% per year).
Production
World Production of Waffles and Wafers
After six years of growth, production of waffles and wafers decreased by -2.4% to 8.1M tons in 2022. The total output volume increased at an average annual rate of +3.3% over the period from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The most prominent rate of growth was recorded in 2019 when the production volume increased by 8.1%. Global production peaked at 8.2M tons in 2021, and then declined in the following year.
In value terms, waffle and wafer production fell slightly to $20.4B in 2022 estimated in export price. In general, the total production indicated a notable increase from 2012 to 2022: its value increased at an average annual rate of +4.3% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, production increased by +5.2% against 2020 indices. The pace of growth appeared the most rapid in 2018 when the production volume increased by 28% against the previous year. Global production peaked at $26.2B in 2019; however, from 2020 to 2022, production stood at a somewhat lower figure.
Production By Country
The United States (2.9M tons) constituted the country with the largest volume of waffle and wafer production, comprising approx. 36% of total volume. Moreover, waffle and wafer production in the United States exceeded the figures recorded by the second-largest producer, China (1.1M tons), threefold. India (440K tons) ranked third in terms of total production with a 5.5% share.
From 2012 to 2022, the average annual growth rate of volume in the United States was relatively modest. The remaining producing countries recorded the following average annual rates of production growth: China (+7.4% per year) and India (+6.9% per year).
Imports
World Imports of Waffles and Wafers
For the eleventh consecutive year, the global market recorded growth in overseas purchases of waffles and wafers, which increased by 1.5% to 1.3M tons in 2022. In general, total imports indicated a resilient expansion from 2012 to 2022: its volume increased at an average annual rate of +6.2% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports increased by +81.8% against 2012 indices. The most prominent rate of growth was recorded in 2017 with an increase of 12%. Over the period under review, global imports hit record highs in 2022 and are likely to continue growth in years to come.
In value terms, waffle and wafer imports stood at $5.6B in 2022. Over the period under review, total imports indicated a prominent expansion from 2012 to 2022: its value increased at an average annual rate of +6.9% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports increased by +95.3% against 2012 indices. The pace of growth was the most pronounced in 2021 with an increase of 15%. Over the period under review, global imports attained the peak figure in 2022 and are likely to see gradual growth in years to come.
Imports By Country
In 2022, the United States (149K tons), followed by the UK (93K tons), Germany (88K tons), France (69K tons), China (65K tons) and Iraq (64K tons) were the major importers of waffles and wafers, together making up 39% of total imports. Italy (38K tons), Canada (36K tons), the Philippines (33K tons), the Netherlands (33K tons), Belgium (29K tons), Romania (29K tons) and Poland (27K tons) held a little share of total imports.
From 2012 to 2022, the most notable rate of growth in terms of purchases, amongst the key importing countries, was attained by the Philippines (with a CAGR of +30.6%), while imports for the other global leaders experienced more modest paces of growth.
In value terms, the United States ($875M) constitutes the largest market for imported waffles and wafers worldwide, comprising 16% of global imports. The second position in the ranking was taken by the UK ($418M), with a 7.5% share of global imports. It was followed by Germany, with a 6.7% share.
From 2012 to 2022, the average annual rate of growth in terms of value in the United States totaled +9.5%. In the other countries, the average annual rates were as follows: the UK (+12.8% per year) and Germany (+6.7% per year).
Import Prices By Country
The average waffle and wafer import price stood at $4,146 per ton in 2022, with an increase of 7.2% against the previous year. In general, the import price showed a relatively flat trend pattern. As a result, import price reached the peak level and is likely to continue growth in the immediate term.
There were significant differences in the average prices amongst the major importing countries. In 2022, amid the top importers, the country with the highest price was the United States ($5,856 per ton), while Iraq ($2,923 per ton) was amongst the lowest.
From 2012 to 2022, the most notable rate of growth in terms of prices was attained by the United States (+4.6%), while the other global leaders experienced more modest paces of growth.
Exports
World Exports of Waffles and Wafers
In 2022, the amount of waffles and wafers exported worldwide amounted to 1.4M tons, flattening at the previous year. Over the period under review, total exports indicated strong growth from 2012 to 2022: its volume increased at an average annual rate of +6.0% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, exports increased by +79.9% against 2012 indices. The pace of growth was the most pronounced in 2021 when exports increased by 12% against the previous year. Over the period under review, the global exports attained the maximum in 2022 and are likely to see gradual growth in the immediate term.
In value terms, waffle and wafer exports amounted to $5.8B in 2022. In general, total exports indicated a resilient increase from 2012 to 2022: its value increased at an average annual rate of +7.0% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, exports increased by +96.6% against 2012 indices. The most prominent rate of growth was recorded in 2021 with an increase of 18%. The global exports peaked in 2022 and are expected to retain growth in the near future.
Exports By Country
Indonesia (171K tons), Poland (154K tons), Turkey (149K tons), Italy (121K tons), Germany (112K tons), Belgium (91K tons) and Canada (80K tons) represented roughly 62% of total exports in 2022. Austria (49K tons), the United States (48K tons), the Netherlands (44K tons), Russia (40K tons), Bulgaria (29K tons) and the United Arab Emirates (25K tons) held a relatively small share of total exports.
From 2012 to 2022, the biggest increases were recorded for Indonesia (with a CAGR of +19.9%), while shipments for the other global leaders experienced more modest paces of growth.
In value terms, Poland ($865M), Italy ($738M) and Canada ($536M) constituted the countries with the highest levels of exports in 2022, together comprising 37% of global exports. Germany, Turkey, Indonesia, Belgium, the Netherlands, Austria, Bulgaria, the United Arab Emirates, the United States and Russia lagged somewhat behind, together accounting for a further 44%.
Indonesia, with a CAGR of +16.3%, recorded the highest rates of growth with regard to the value of exports, in terms of the main exporting countries over the period under review, while shipments for the other global leaders experienced more modest paces of growth.
Export Prices By Country
In 2022, the average waffle and wafer export price amounted to $4,116 per ton, increasing by 6.5% against the previous year. Over the period under review, the export price continues to indicate a relatively flat trend pattern. As a result, the export price reached the peak level and is likely to continue growth in the immediate term.
Prices varied noticeably by country of origin: amid the top suppliers, the country with the highest price was Canada ($6,706 per ton), while the United States ($2,205 per ton) was amongst the lowest.
From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Canada (+4.7%), while the other global leaders experienced more modest paces of growth.
This report provides an in-depth analysis of the global waffle and wafer market. Within it, you will discover the latest data on market trends and opportunities by country, consumption, production and price developments, as well as the global trade (imports and exports). The forecast exhibits the market prospects through 2030.
Product coverage:
- Prodcom 10721259 - Waffles and wafers (including salted) (excluding those completely or partially coated or covered with chocolate or other preparations containing cocoa)
Country coverage:
Worldwide - the report contains statistical data for 200 countries and includes detailed profiles of the 50 largest consuming countries:
- USA
- China
- Japan
- Germany
- United Kingdom
- France
- Brazil
- Italy
- Russian Federation
- India
- Canada
- Australia
- Republic of Korea
- Spain
- Mexico
- Indonesia
- Netherlands
- Turkey
- Saudi Arabia
- Switzerland
- Sweden
- Nigeria
- Poland
- Belgium
- Argentina
- Norway
- Austria
- Thailand
- United Arab Emirates
- Colombia
- Denmark
- South Africa
- Malaysia
- Israel
- Singapore
- Egypt
- Philippines
- Finland
- Chile
- Ireland
- Pakistan
- Greece
- Portugal
- Kazakhstan
- Algeria
- Czech Republic
- Qatar
- Peru
- Romania
- Vietnam
+ the largest producing countries
Data coverage:
- Global market volume and value
- Per Capita consumption
- Forecast of the market dynamics in the medium term
- Global production, split by region and country
- Global trade (exports and imports)
- Export and import prices
- Market trends, drivers and restraints
- Key market players and their profiles
Reasons to buy this report:
- Take advantage of the latest data
- Find deeper insights into current market developments
- Discover vital success factors affecting the market
This report is designed for manufacturers, distributors, importers, and wholesalers, as well as for investors, consultants and advisors.
In this report, you can find information that helps you to make informed decisions on the following issues:
- How to diversify your business and benefit from new market opportunities
- How to load your idle production capacity
- How to boost your sales on overseas markets
- How to increase your profit margins
- How to make your supply chain more sustainable
- How to reduce your production and supply chain costs
- How to outsource production to other countries
- How to prepare your business for global expansion
While doing this research, we combine the accumulated expertise of our analysts and the capabilities of artificial intelligence. The AI-based platform, developed by our data scientists, constitutes the key working tool for business analysts, empowering them to discover deep insights and ideas from the marketing data.
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1. INTRODUCTION
Making Data-Driven Decisions to Grow Your Business
- REPORT DESCRIPTION
- RESEARCH METHODOLOGY AND AI PLATFORM
- DATA-DRIVEN DECISIONS FOR YOUR BUSINESS
- GLOSSARY AND SPECIFIC TERMS
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2. EXECUTIVE SUMMARY
A Quick Overview of Market Performance
- KEY FINDINGS
- MARKET TRENDS This Chapter is Available Only for the Professional Edition PRO
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3. MARKET OVERVIEW
Understanding the Current State of The Market and Its Prospects
- MARKET SIZE
- CONSUMPTION BY COUNTRY
- MARKET FORECAST TO 2030
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4. MOST PROMISING PRODUCT
Finding New Products to Diversify Your Business
This Chapter is Available Only for the Professional Edition PRO- TOP PRODUCTS TO DIVERSIFY YOUR BUSINESS
- BEST-SELLING PRODUCTS
- MOST CONSUMED PRODUCT
- MOST TRADED PRODUCT
- MOST PROFITABLE PRODUCT FOR EXPORT
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5. MOST PROMISING SUPPLYING COUNTRIES
Choosing the Best Countries to Establish Your Sustainable Supply Chain
This Chapter is Available Only for the Professional Edition PRO- TOP COUNTRIES TO SOURCE YOUR PRODUCT
- TOP PRODUCING COUNTRIES
- TOP EXPORTING COUNTRIES
- LOW-COST EXPORTING COUNTRIES
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6. MOST PROMISING OVERSEAS MARKETS
Choosing the Best Countries to Boost Your Exports
This Chapter is Available Only for the Professional Edition PRO- TOP OVERSEAS MARKETS FOR EXPORTING YOUR PRODUCT
- TOP CONSUMING MARKETS
- UNSATURATED MARKETS
- TOP IMPORTING MARKETS
- MOST PROFITABLE MARKETS
7. GLOBAL PRODUCTION
The Latest Trends and Insights into The Industry
- PRODUCTION VOLUME AND VALUE
- PRODUCTION BY COUNTRY
8. GLOBAL IMPORTS
The Largest Importers on The Market and How They Succeed
- IMPORTS FROM 2012–2023
- IMPORTS BY COUNTRY
- IMPORT PRICES BY COUNTRY
9. GLOBAL EXPORTS
The Largest Exporters on The Market and How They Succeed
- EXPORTS FROM 2012–2023
- EXPORTS BY COUNTRY
- EXPORT PRICES BY COUNTRY
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10. PROFILES OF MAJOR PRODUCERS
The Largest Producers on The Market and Their Profiles
This Chapter is Available Only for the Professional Edition PRO -
11. COUNTRY PROFILES
The Largest Markets And Their Profiles
This Chapter is Available Only for the Professional Edition PRO- United States
- China
- Japan
- Germany
- United Kingdom
- France
- Brazil
- Italy
- Russian Federation
- India
- Canada
- Australia
- Republic of Korea
- Spain
- Mexico
- Indonesia
- Netherlands
- Turkey
- Saudi Arabia
- Switzerland
- Sweden
- Nigeria
- Poland
- Belgium
- Argentina
- Norway
- Austria
- Thailand
- United Arab Emirates
- Colombia
- Denmark
- South Africa
- Malaysia
- Israel
- Singapore
- Egypt
- Philippines
- Finland
- Chile
- Ireland
- Pakistan
- Greece
- Portugal
- Kazakhstan
- Algeria
- Czech Republic
- Qatar
- Peru
- Romania
- Vietnam
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LIST OF TABLES
- Key Findings In 2023
- Market Volume, In Physical Terms, 2012–2023
- Market Value, 2012–2023
- Per Capita Consumption, By Country, 2018–2023
- Production, In Physical Terms, By Country, 2012–2023
- Imports, In Physical Terms, By Country, 2012–2023
- Imports, In Value Terms, By Country, 2012–2023
- Import Prices, By Country Of Destination, 2012–2023
- Exports, In Physical Terms, By Country, 2012–2023
- Exports, In Value Terms, By Country, 2012–2023
- Export Prices, By Country Of Origin, 2012–2023
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LIST OF FIGURES
- Market Volume, In Physical Terms, 2012–2023
- Market Value, 2012–2023
- Consumption, By Country, 2023
- Market Volume Forecast to 2030
- Market Value Forecast to 2030
- Products: Market Size And Growth, By Type
- Products: Average Per Capita Consumption, By Type
- Products: Exports And Growth, By Type
- Products: Export Prices And Growth, By Type
- Production Volume And Growth
- Exports And Growth
- Export Prices And Growth
- Market Size And Growth
- Per Capita Consumption
- Imports And Growth
- Import Prices
- Production, In Physical Terms, 2012–2023
- Production, In Value Terms, 2012–2023
- Production, By Country, 2023
- Production, In Physical Terms, By Country, 2012–2023
- Imports, In Physical Terms, 2012–2023
- Imports, In Value Terms, 2012–2023
- Imports, In Physical Terms, By Country, 2023
- Imports, In Physical Terms, By Country, 2012–2023
- Imports, In Value Terms, By Country, 2012–2023
- Import Prices, By Country, 2012–2023
- Exports, In Physical Terms, 2012–2023
- Exports, In Value Terms, 2012–2023
- Exports, In Physical Terms, By Country, 2023
- Exports, In Physical Terms, By Country, 2012–2023
- Exports, In Value Terms, By Country, 2012–2023
- Export Prices, 2012–2023
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