Vietnam: Market for Gingerbread, Sweet Biscuits and Waffles 2024

Market Size for Gingerbread, Sweet Biscuits and Waffles in Vietnam

In 2023, after six years of growth, there was decline in the Vietnamese market for gingerbread, sweet biscuits and waffles, when its value decreased by X% to $X. In general, the total consumption indicated a modest expansion from 2012 to 2023: its value increased at an average annual rate of X% over the last eleven-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2023 figures, consumption increased by X% against 2014 indices. Gingerbread, sweet biscuit and waffle consumption peaked at $X in 2022, and then reduced modestly in the following year.

Production of Gingerbread, Sweet Biscuits and Waffles in Vietnam

In value terms, gingerbread, sweet biscuit and waffle production declined slightly to $X in 2023 estimated in export price. Over the period under review, the total production indicated a mild increase from 2012 to 2023: its value increased at an average annual rate of X% over the last eleven years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2023 figures, production decreased by X% against 2020 indices. The growth pace was the most rapid in 2017 when the production volume increased by X%. Gingerbread, sweet biscuit and waffle production peaked at $X in 2020; afterwards, it flattened through to 2023.

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Exports of Gingerbread, Sweet Biscuits and Waffles

Exports from Vietnam

In 2023, the amount of gingerbread, sweet biscuits and waffles exported from Vietnam contracted to X tons, with a decrease of X% compared with the year before. Overall, exports, however, recorded prominent growth. The most prominent rate of growth was recorded in 2016 when exports increased by X%. The exports peaked at X tons in 2018; however, from 2019 to 2023, the exports failed to regain momentum.

In value terms, gingerbread, sweet biscuit and waffle exports dropped to $X in 2023. In general, exports, however, recorded resilient growth. The pace of growth was the most pronounced in 2016 with an increase of X% against the previous year. The exports peaked at $X in 2018; however, from 2019 to 2023, the exports failed to regain momentum.

Exports by Country

The Philippines (X tons), Japan (X tons) and Malaysia (X tons) were the main destinations of gingerbread, sweet biscuit and waffle exports from Vietnam, together comprising X% of total exports. South Korea, Myanmar, Thailand, Nigeria, China, the United States, Lao People's Democratic Republic, the UK, Hong Kong SAR and Taiwan (Chinese) lagged somewhat behind, together comprising a further X%.

From 2012 to 2023, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by the UK (with a CAGR of X%), while the other leaders experienced more modest paces of growth.

In value terms, the largest markets for gingerbread, sweet biscuit and waffle exported from Vietnam were the Philippines ($X), Malaysia ($X) and Japan ($X), with a combined X% share of total exports. South Korea, Myanmar, Thailand, China, the United States, Lao People's Democratic Republic, Hong Kong SAR, Taiwan (Chinese), the UK and Nigeria lagged somewhat behind, together accounting for a further X%.

The UK, with a CAGR of X%, saw the highest rates of growth with regard to the value of exports, in terms of the main countries of destination over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

The average export price for gingerbread, sweet biscuits and waffles stood at $X per ton in 2023, which is down by X% against the previous year. In general, the export price, however, saw a relatively flat trend pattern. The most prominent rate of growth was recorded in 2022 an increase of X% against the previous year. As a result, the export price reached the peak level of $X per ton, and then shrank in the following year.

There were significant differences in the average prices for the major foreign markets. In 2023, amid the top suppliers, the country with the highest price was Malaysia ($X per ton), while the average price for exports to Nigeria ($X per ton) was amongst the lowest.

From 2012 to 2023, the most notable rate of growth in terms of prices was recorded for supplies to Malaysia (X%), while the prices for the other major destinations experienced more modest paces of growth.

Imports of Gingerbread, Sweet Biscuits and Waffles

Imports into Vietnam

In 2023, after two years of growth, there was significant decline in purchases abroad of gingerbread, sweet biscuits and waffles, when their volume decreased by X% to X tons. Overall, imports, however, recorded a resilient increase. The most prominent rate of growth was recorded in 2016 when imports increased by X%. Imports peaked at X tons in 2022, and then dropped in the following year.

In value terms, gingerbread, sweet biscuit and waffle imports fell to $X in 2023. In general, imports, however, saw a buoyant expansion. The pace of growth was the most pronounced in 2014 when imports increased by X%. Imports peaked at $X in 2022, and then contracted in the following year.

Imports by Country

In 2023, Indonesia (X tons) constituted the largest supplier of gingerbread, sweet biscuit and waffle to Vietnam, with a X% share of total imports. Moreover, gingerbread, sweet biscuit and waffle imports from Indonesia exceeded the figures recorded by the second-largest supplier, Malaysia (X tons), sixfold. China (X tons) ranked third in terms of total imports with an X% share.

From 2012 to 2023, the average annual growth rate of volume from Indonesia totaled X%. The remaining supplying countries recorded the following average annual rates of imports growth: Malaysia (X% per year) and China (X% per year).

In value terms, Indonesia ($X) constituted the largest supplier of gingerbread, sweet biscuits and waffles to Vietnam, comprising X% of total imports. The second position in the ranking was held by Malaysia ($X), with a X% share of total imports. It was followed by China, with an X% share.

From 2012 to 2023, the average annual growth rate of value from Indonesia amounted to X%. The remaining supplying countries recorded the following average annual rates of imports growth: Malaysia (X% per year) and China (X% per year).

Import Prices by Country

The average import price for gingerbread, sweet biscuits and waffles stood at $X per ton in 2023, falling by X% against the previous year. Overall, the import price continues to indicate a relatively flat trend pattern. The most prominent rate of growth was recorded in 2020 when the average import price increased by X%. Over the period under review, average import prices attained the maximum at $X per ton in 2012; however, from 2013 to 2023, import prices stood at a somewhat lower figure.

Average prices varied noticeably amongst the major supplying countries. In 2023, amid the top importers, the countries with the highest prices were Malaysia ($X per ton) and Indonesia ($X per ton), while the price for Denmark ($X per ton) and Germany ($X per ton) were amongst the lowest.

From 2012 to 2023, the most notable rate of growth in terms of prices was attained by Malaysia (X%), while the prices for the other major suppliers experienced a decline.

Source: IndexBox Platform