Northern America: Waffle And Wafer Market 2023

Waffle And Wafer Market Size in Northern America

After four years of growth, the North American waffle and wafer market decreased by -0.5% to $X in 2021. Overall, consumption, however, recorded a relatively flat trend pattern. The level of consumption peaked at $X in 2020, and then reduced slightly in the following year.

Waffle And Wafer Production in Northern America

In value terms, waffle and wafer production declined slightly to $X in 2021 estimated in export price. In general, production, however, continues to indicate a relatively flat trend pattern. The most prominent rate of growth was recorded in 2014 with an increase of 8.4% against the previous year. Over the period under review, production hit record highs at $X in 2020, and then shrank modestly in the following year.

Waffle And Wafer Exports

Exports in Northern America

For the fifth year in a row, Northern America recorded growth in shipments abroad of waffles and wafers, which increased by 8.9% to X tons in 2021. The total export volume increased at an average annual rate of +1.2% from 2012 to 2021; the trend pattern remained consistent, with somewhat noticeable fluctuations being recorded throughout the analyzed period. As a result, the exports attained the peak and are likely to continue growth in the immediate term.

In value terms, waffle and wafer exports rose markedly to $X in 2021. The total export value increased at an average annual rate of +3.3% over the period from 2012 to 2021; the trend pattern indicated some noticeable fluctuations being recorded in certain years. As a result, the exports attained the peak and are likely to continue growth in the immediate term.

Exports by Country

Canada represented the main exporting country with an export of around X tons, which amounted to 65% of total exports. It was distantly followed by the United States (X tons), generating a 35% share of total exports.

From 2012 to 2021, the biggest increases were recorded for the United States (with a CAGR of +1.9%).

In value terms, Canada ($X) remains the largest waffle and wafer supplier in Northern America, comprising 82% of total exports. The second position in the ranking was taken by the United States ($X), with an 18% share of total exports.

In Canada, waffle and wafer exports expanded at an average annual rate of +3.5% over the period from 2012-2021.

Export Prices by Country

In 2021, the export price in Northern America amounted to $X per ton, growing by 4.9% against the previous year. Over the last nine-year period, it increased at an average annual rate of +2.1%. The most prominent rate of growth was recorded in 2018 an increase of 7.4% against the previous year. The level of export peaked at $X per ton in 2019; however, from 2020 to 2021, the export prices failed to regain momentum.

Prices varied noticeably country of origin: the country with the highest price was Canada ($X per ton), while the United States totaled $X per ton.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Canada (+2.7%).

Waffle And Wafer Imports

Imports in Northern America

In 2021, overseas purchases of waffles and wafers increased by 10% to X tons, rising for the seventh year in a row after two years of decline. Total imports indicated pronounced growth from 2012 to 2021: its volume increased at an average annual rate of +4.2% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, imports increased by +58.3% against 2014 indices. The growth pace was the most rapid in 2017 with an increase of 11% against the previous year. The volume of import peaked in 2021 and is likely to continue growth in years to come.

In value terms, waffle and wafer imports surged to $X in 2021. Total imports indicated resilient growth from 2012 to 2021: its value increased at an average annual rate of +7.5% 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 +100.8% against 2013 indices. As a result, imports attained the peak and are likely to continue growth in the immediate term.

Imports by Country

The United States was the largest importer of waffles and wafers in Northern America, with the volume of imports amounting to X tons, which was approx. 81% of total imports in 2021. It was distantly followed by Canada (X tons), committing a 19% share of total imports.

The United States was also the fastest-growing in terms of the waffles and wafers imports, with a CAGR of +4.4% from 2012 to 2021. At the same time, Canada (+3.6%) displayed positive paces of growth. The shares of the largest importers remained relatively stable throughout the analyzed period.

In value terms, the United States ($X) constitutes the largest market for imported waffles and wafers in Northern America, comprising 87% of total imports. The second position in the ranking was held by Canada ($X), with a 13% share of total imports.

From 2012 to 2021, the average annual growth rate of value in the United States amounted to +8.1%.

Import Prices by Country

In 2021, the import price in Northern America amounted to $X per ton, surging by 8.6% against the previous year. Over the period from 2012 to 2021, it increased at an average annual rate of +3.1%. As a result, import price reached the peak level and is likely to continue growth in the immediate term.

Prices varied noticeably country of destination: the country with the highest price was the United States ($X per ton), while Canada totaled $X per ton.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by the United States (+3.5%).

Source: IndexBox Platform

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