GCC: Waffle And Wafer Market 2024

Waffle And Wafer Market Size in GCC

In 2022, the GCC waffle and wafer market decreased by X% to $X, falling for the second year in a row after nine years of growth. In general, consumption, however, saw a resilient expansion. Over the period under review, the market attained the peak level at $X in 2020; however, from 2021 to 2022, consumption failed to regain momentum.

Waffle And Wafer Production in GCC

In value terms, waffle and wafer production totaled $X in 2022 estimated in export price. Over the period under review, production saw prominent growth. The most prominent rate of growth was recorded in 2018 with an increase of X%. The level of production peaked at $X in 2020; however, from 2021 to 2022, production remained at a lower figure.

Waffle And Wafer Exports

Exports in GCC

For the fourth consecutive year, GCC recorded growth in overseas shipments of waffles and wafers, which increased by X% to X tons in 2022. Over the period under review, exports enjoyed resilient growth. The pace of growth was the most pronounced in 2014 with an increase of X% against the previous year. Over the period under review, the exports attained the maximum in 2022 and are likely to continue growth in the immediate term.

In value terms, waffle and wafer exports surged to $X in 2022. Overall, exports enjoyed a resilient increase. The most prominent rate of growth was recorded in 2013 with an increase of X% against the previous year. Over the period under review, the exports reached the maximum in 2022 and are likely to see gradual growth in the near future.

Exports by Country

The United Arab Emirates prevails in exports structure, finishing at X tons, which was approx. X% of total exports in 2022. Saudi Arabia (X tons) held a X% share (based on physical terms) of total exports, which put it in second place, followed by Kuwait (X%).

The United Arab Emirates was also the fastest-growing in terms of the waffles and wafers exports, with a CAGR of X% from 2012 to 2022. At the same time, Kuwait (X%) and Saudi Arabia (X%) displayed positive paces of growth. While the share of Kuwait (X p.p.) increased significantly in terms of the total exports from 2012-2022, the share of Saudi Arabia (X p.p.) and the United Arab Emirates (X p.p.) displayed negative dynamics.

In value terms, the United Arab Emirates ($X) remains the largest waffle and wafer supplier in GCC, comprising X% of total exports. The second position in the ranking was taken by Saudi Arabia ($X), with a X% share of total exports.

From 2012 to 2022, the average annual rate of growth in terms of value in the United Arab Emirates stood at X%. In the other countries, the average annual rates were as follows: Saudi Arabia (X% per year) and Kuwait (X% per year).

Export Prices by Country

The export price in GCC stood at $X per ton in 2022, growing by X% against the previous year. Over the period from 2012 to 2022, it increased at an average annual rate of X%. The growth pace was the most rapid in 2013 an increase of X% against the previous year. Over the period under review, the export prices hit record highs at $X per ton in 2016; however, from 2017 to 2022, the export prices remained at a lower figure.

Average prices varied somewhat amongst the major exporting countries. In 2022, amid the top suppliers, the country with the highest price was the United Arab Emirates ($X per ton), while Kuwait ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Saudi Arabia (X%), while the other leaders experienced more modest paces of growth.

Waffle And Wafer Imports

Imports in GCC

In 2022, purchases abroad of waffles and wafers decreased by X% to X tons for the first time since 2014, thus ending a seven-year rising trend. Total imports indicated a remarkable increase from 2012 to 2022: its volume increased at an average annual rate of X% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. The growth pace was the most rapid in 2015 with an increase of X%. Over the period under review, imports reached the maximum at X tons in 2021, and then fell markedly in the following year.

In value terms, waffle and wafer imports reduced sharply to $X in 2022. In general, imports, however, showed a prominent expansion. The most prominent rate of growth was recorded in 2015 when imports increased by X% against the previous year. The level of import peaked at $X in 2021, and then fell dramatically in the following year.

Imports by Country

Kuwait represented the main importing country with an import of about X tons, which resulted at X% of total imports. The United Arab Emirates (X tons) took the second position in the ranking, distantly followed by Oman (X tons), Bahrain (X tons) and Qatar (X tons). All these countries together held near X% share of total imports.

Kuwait was also the fastest-growing in terms of the waffles and wafers imports, with a CAGR of X% from 2012 to 2022. At the same time, Oman (X%), Bahrain (X%), Qatar (X%) and the United Arab Emirates (X%) displayed positive paces of growth. From 2012 to 2022, the share of Kuwait, Oman, Bahrain and Qatar increased by X, X, X and X percentage points, respectively.

In value terms, Kuwait ($X) constitutes the largest market for imported waffles and wafers in GCC, comprising X% of total imports. The second position in the ranking was held by the United Arab Emirates ($X), with a X% share of total imports. It was followed by Oman, with a X% share.

From 2012 to 2022, the average annual rate of growth in terms of value in Kuwait totaled X%. The remaining importing countries recorded the following average annual rates of imports growth: the United Arab Emirates (X% per year) and Oman (X% per year).

Import Prices by Country

The import price in GCC stood at $X per ton in 2022, waning by X% against the previous year. Over the period under review, the import price recorded a relatively flat trend pattern. The growth pace was the most rapid in 2013 when the import price increased by X% against the previous year. The level of import peaked at $X per ton in 2019; however, from 2020 to 2022, import prices remained at a lower figure.

Prices varied noticeably by country of destination: amid the top importers, the country with the highest price was Qatar ($X per ton), while Oman ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Qatar (X%), while the other leaders experienced mixed trends in the import price figures.

Source: IndexBox Platform

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