Finland: Waffle And Wafer Market 2023

Waffle And Wafer Market Size in Finland

The Finnish waffle and wafer market totaled $X in 2021, growing by 4.3% against the previous year. Overall, the total consumption indicated a modest expansion from 2012 to 2021: its value increased at an average annual rate of +1.9% 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 +99.7% against 2015 indices. Waffle and wafer consumption peaked in 2021 and is likely to see gradual growth in years to come.

Waffle And Wafer Production in Finland

In value terms, waffle and wafer production fell sharply to $X in 2021 estimated in export price. Overall, production continues to indicate a pronounced descent. The most prominent rate of growth was recorded in 2016 with an increase of 50%. Over the period under review, production attained the peak level at $X in 2018; however, from 2019 to 2021, production remained at a lower figure.

Waffle And Wafer Exports

Exports from Finland

In 2021, after four years of decline, there was significant growth in overseas shipments of waffles and wafers, when their volume increased by 5.1% to X tons. Overall, exports enjoyed a remarkable increase. The most prominent rate of growth was recorded in 2013 when exports increased by 117%. Over the period under review, the exports hit record highs at X tons in 2016; however, from 2017 to 2021, the exports remained at a lower figure.

In value terms, waffle and wafer exports rose sharply to $X in 2021. Over the period under review, exports continue to indicate buoyant growth. The growth pace was the most rapid in 2013 when exports increased by 84% against the previous year. The exports peaked at $X in 2016; however, from 2017 to 2021, the exports stood at a somewhat lower figure.

Exports by Country

Sweden (X tons), Estonia (X tons) and Denmark (X tons) were the main destinations of waffle and wafer exports from Finland, with a combined 80% share of total exports. Russia, Norway and Germany lagged somewhat behind, together accounting for a further 16%.

From 2012 to 2021, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by Norway (with a CAGR of +120.3%), while the other leaders experienced more modest paces of growth.

In value terms, the largest markets for waffle and wafer exported from Finland were Sweden ($X), Estonia ($X) and Russia ($X), together comprising 80% of total exports. These countries were followed by Denmark, Norway and Germany, which together accounted for a further 13%.

Among the main countries of destination, Norway, with a CAGR of +102.6%, recorded the highest growth rate of the value of exports, over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

The average waffle and wafer export price stood at $X per ton in 2021, with an increase of 6.3% against the previous year. In general, the export price saw a relatively flat trend pattern. The pace of growth appeared the most rapid in 2014 an increase of 35%. As a result, the export price attained the peak level of $X per ton. From 2015 to 2021, the average export prices failed to regain momentum.

There were significant differences in the average prices for the major foreign markets. In 2021, the country with the highest price was Germany ($X per ton), while the average price for exports to Norway ($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 Sweden (+5.1%), while the prices for the other major destinations experienced more modest paces of growth.

Waffle And Wafer Imports

Imports into Finland

Waffle and wafer imports into Finland shrank modestly to X tons in 2021, which is down by -2.6% compared with the previous year's figure. Over the period under review, total imports indicated a perceptible increase from 2012 to 2021: its volume increased at an average annual rate of +4.7% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, imports increased by +69.0% against 2013 indices. The growth pace was the most rapid in 2017 when imports increased by 32%. Imports peaked at X tons in 2020, and then dropped slightly in the following year.

In value terms, waffle and wafer imports rose rapidly to $X in 2021. In general, total imports indicated a measured increase from 2012 to 2021: its value increased at an average annual rate of +3.2% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, imports increased by +72.6% against 2016 indices. The most prominent rate of growth was recorded in 2018 when imports increased by 23% against the previous year. Over the period under review, imports hit record highs in 2021 and are likely to see gradual growth in the immediate term.

Imports by Country

Sweden (X tons), Germany (X tons) and the Netherlands (X tons) were the main suppliers of waffle and wafer imports to Finland, together accounting for 84% of total imports. These countries were followed by Norway, the Czech Republic, Austria, Italy and Estonia, which together accounted for a further 12%.

From 2012 to 2021, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by Estonia (with a CAGR of +64.7%), while imports for the other leaders experienced more modest paces of growth.

In value terms, the largest waffle and wafer suppliers to Finland were Sweden ($X), Germany ($X) and the Netherlands ($X), with a combined 79% share of total imports. Norway, Italy, the Czech Republic, Austria and Estonia lagged somewhat behind, together comprising a further 15%.

Among the main suppliers, Estonia, with a CAGR of +52.1%, recorded the highest rates of growth with regard to the value of imports, over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

The average waffle and wafer import price stood at $X per ton in 2021, picking up by 17% against the previous year. In general, the import price, however, continues to indicate a mild downturn. Over the period under review, average import prices attained the maximum at $X per ton in 2013; however, from 2014 to 2021, import prices failed to regain momentum.

Prices varied noticeably country of origin: the country with the highest price was Italy ($X per ton), while the price for Sweden ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Italy (+5.1%), while the prices for the other major suppliers experienced mixed trend patterns.

Source: IndexBox Platform

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