Vietnam: Market for Sweet Biscuits, Waffles and Wafers 2024

Market Size for Sweet Biscuits, Waffles and Wafers in Vietnam

The Vietnamese market for sweet biscuits, waffles and wafers surged to $X in 2022, jumping by X% 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). Overall, consumption saw a strong increase. Sweet biscuit, waffle and wafer consumption peaked in 2022 and is expected to retain growth in the near future.

Exports of Sweet Biscuits, Waffles and Wafers

Exports from Vietnam

After two years of decline, overseas shipments of sweet biscuits, waffles and wafers increased by X% to X tons in 2022. Over the period under review, total exports indicated prominent growth 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. Based on 2022 figures, exports decreased by X% against 2019 indices. The pace of growth appeared the most rapid in 2016 when exports increased by X% against the previous year. The exports peaked at X tons in 2019; however, from 2020 to 2022, the exports stood at a somewhat lower figure.

In value terms, sweet biscuit, waffle and wafer exports surged to $X in 2022. In general, total exports indicated a remarkable increase from 2012 to 2022: its value 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. Based on 2022 figures, exports decreased by X% against 2018 indices. The growth pace was the most rapid in 2018 with an increase of X%. As a result, the exports reached the peak of $X. From 2019 to 2022, the growth of the exports remained at a somewhat lower figure.

Exports by Country

Japan (X tons), South Korea (X tons) and Thailand (X tons) were the main destinations of sweet biscuit, waffle and wafer exports from Vietnam, with a combined X% share of total exports. Myanmar, the Philippines, China, Malaysia, Lao People's Democratic Republic, Hong Kong SAR, Taiwan (Chinese), Indonesia, Cambodia and Saudi Arabia lagged somewhat behind, together comprising a further X%.

From 2012 to 2022, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by Myanmar (with a CAGR of X%), while the other leaders experienced more modest paces of growth.

In value terms, the largest markets for sweet biscuit, waffle and wafer exported from Vietnam were Japan ($X), South Korea ($X) and the Philippines ($X), together accounting for X% of total exports. Thailand, China, Myanmar, Malaysia, Lao People's Democratic Republic, Hong Kong SAR, Taiwan (Chinese), Indonesia, Cambodia and Saudi Arabia lagged somewhat behind, together accounting for a further X%.

Myanmar, with a CAGR of X%, recorded 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

In 2022, the average export price for sweet biscuits, waffles and wafers amounted to $X per ton, surging by X% against the previous year. Over the last decade, it increased at an average annual rate of X%. As a result, the export price reached the peak level and is likely to continue growth in the immediate term.

Average prices varied somewhat for the major external markets. In 2022, amid the top suppliers, the highest price was recorded for prices to the Philippines ($X per ton) and Cambodia ($X per ton), while the average price for exports to Myanmar ($X per ton) and Indonesia ($X per ton) were amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to the Philippines (X%), while the prices for the other major destinations experienced more modest paces of growth.

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Imports of Sweet Biscuits, Waffles and Wafers

Imports into Vietnam

In 2022, approx. X tons of sweet biscuits, waffles and wafers were imported into Vietnam; growing by X% compared with the previous year's figure. Overall, imports continue to indicate a buoyant expansion. The pace of growth appeared the most rapid in 2016 when imports increased by X%. Over the period under review, imports hit record highs in 2022 and are expected to retain growth in the immediate term.

In value terms, sweet biscuit, waffle and wafer imports soared to $X in 2022. In general, imports showed a prominent expansion. The most prominent rate of growth was recorded in 2014 when imports increased by X%. Over the period under review, imports hit record highs in 2022 and are likely to continue growth in years to come.

Imports by Country

In 2022, Indonesia (X tons) constituted the largest sweet biscuit, waffle and wafer supplier to Vietnam, with a X% share of total imports. Moreover, sweet biscuit, waffle and wafer 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 2022, the average annual rate of growth in terms of volume from Indonesia stood at 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 ($X) constituted the largest supplier of sweet biscuits, waffles and wafers to Vietnam, comprising X% of total imports. The second position in the ranking was held by Malaysia ($X), with a X% share of total imports. It was followed by China, with an X% share.

From 2012 to 2022, the average annual rate of growth in terms of value 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).

Import Prices by Country

The average import price for sweet biscuits, waffles and wafers stood at $X per ton in 2022, increasing by X% against the previous year. Over the last decade, it increased at an average annual rate of X%. The growth pace was the most rapid in 2020 when the average import price increased by X% against the previous year. The import price peaked in 2022 and is likely to see gradual growth in years to come.

Average prices varied noticeably amongst the major supplying countries. In 2022, amid the top importers, the highest price was recorded for prices from Malaysia ($X per ton) and Indonesia ($X per ton), while the price for Germany ($X per ton) and Thailand ($X per ton) were amongst the lowest.

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

Source: IndexBox Platform

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