Latin America and the Caribbean: Market for Sweet Biscuits, Waffles and Wafers 2024

Market Size for Sweet Biscuits, Waffles and Wafers in Latin America and the Caribbean

The Latin American market for sweet biscuits, waffles and wafers shrank to $X in 2023, standing approx. at the previous year. The market value increased at an average annual rate of X% from 2012 to 2023; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. Over the period under review, the market attained the maximum level at $X in 2019; however, from 2020 to 2023, consumption remained at a lower figure.

Production of Sweet Biscuits, Waffles and Wafers in Latin America and the Caribbean

In value terms, sweet biscuit, waffle and wafer production shrank modestly to $X in 2023 estimated in export price. The total output value increased at an average annual rate of X% from 2012 to 2023; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The pace of growth was the most pronounced in 2016 when the production volume increased by X%. The level of production peaked at $X in 2019; however, from 2020 to 2023, production stood at a somewhat lower figure.

Exports of Sweet Biscuits, Waffles and Wafers

Exports in Latin America and the Caribbean

In 2023, the amount of sweet biscuits, waffles and wafers exported in Latin America and the Caribbean was estimated at X tons, remaining stable against the previous year. Over the period under review, exports saw buoyant growth. The pace of growth appeared the most rapid in 2021 with an increase of X%. The volume of export peaked in 2023 and is likely to see steady growth in the immediate term.

In value terms, sweet biscuit, waffle and wafer exports rose to $X in 2023. Overall, exports enjoyed a prominent expansion. The pace of growth was the most pronounced in 2022 with an increase of X% against the previous year. Over the period under review, the exports attained the maximum in 2023 and are likely to see gradual growth in the near future.

Exports by Country

Mexico dominates exports structure, recording X tons, which was near X% of total exports in 2023. Brazil (X tons) held the second position in the ranking, followed by Peru (X tons) and Guatemala (X tons). All these countries together held approx. X% share of total exports. The Dominican Republic (X tons), Costa Rica (X tons) and Colombia (X tons) followed a long way behind the leaders.

Mexico was also the fastest-growing in terms of the sweet biscuits, waffles and wafers exports, with a CAGR of X% from 2012 to 2023. At the same time, Colombia (X%), the Dominican Republic (X%), Peru (X%), Guatemala (X%), Brazil (X%) and Costa Rica (X%) displayed positive paces of growth. While the share of Mexico (X p.p.) increased significantly in terms of the total exports from 2012-2023, the share of Costa Rica (X p.p.) and Brazil (X p.p.) displayed negative dynamics. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Mexico ($X) remains the largest sweet biscuit, waffle and wafer supplier in Latin America and the Caribbean, comprising X% of total exports. The second position in the ranking was held by Brazil ($X), with a X% share of total exports. It was followed by Peru, with a X% share.

In Mexico, sweet biscuit, waffle and wafer exports increased at an average annual rate of X% over the period from 2012-2023. The remaining exporting countries recorded the following average annual rates of exports growth: Brazil (X% per year) and Peru (X% per year).

Export Prices by Country

The export price in Latin America and the Caribbean stood at $X per ton in 2023, rising by X% against the previous year. Over the last eleven years, it increased at an average annual rate of X%. The pace of growth was the most pronounced in 2022 when the export price increased by X%. Over the period under review, the export prices reached the maximum at $X per ton in 2018; however, from 2019 to 2023, the export prices stood at a somewhat lower figure.

Average prices varied somewhat amongst the major exporting countries. In 2023, major exporting countries recorded the following prices: in Mexico ($X per ton) and the Dominican Republic ($X per ton), while Peru ($X per ton) and Brazil ($X per ton) were amongst the lowest.

From 2012 to 2023, the most notable rate of growth in terms of prices was attained by Guatemala (X%), while the other leaders experienced more modest paces of growth.

Imports of Sweet Biscuits, Waffles and Wafers

Imports in Latin America and the Caribbean

After two years of growth, overseas purchases of sweet biscuits, waffles and wafers decreased by X% to X tons in 2023. The total import volume increased at an average annual rate of X% over the period from 2012 to 2023; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The pace of growth appeared the most rapid in 2021 when imports increased by X% against the previous year. The volume of import peaked at X tons in 2022, and then fell slightly in the following year.

In value terms, sweet biscuit, waffle and wafer imports totaled $X in 2023. Total imports indicated a remarkable 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, imports increased by X% against 2020 indices. The pace of growth appeared the most rapid in 2021 with an increase of X%. The level of import peaked in 2023 and is expected to retain growth in years to come.

Imports by Country

Mexico (X tons), Chile (X tons), Venezuela (X tons), Guatemala (X tons), Colombia (X tons), Honduras (X tons), Paraguay (X tons), the Dominican Republic (X tons), El Salvador (X tons), Uruguay (X tons), Ecuador (X tons) and Nicaragua (X tons) represented roughly X% of total imports in 2023. Haiti (X tons) followed a long way behind the leaders.

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

In value terms, Mexico ($X) constitutes the largest market for imported sweet biscuits, waffles and wafers in Latin America and the Caribbean, comprising X% of total imports. The second position in the ranking was taken by Chile ($X), with an X% share of total imports. It was followed by Guatemala, with a X% share.

In Mexico, sweet biscuit, waffle and wafer imports expanded at an average annual rate of X% over the period from 2012-2023. In the other countries, the average annual rates were as follows: Chile (X% per year) and Guatemala (X% per year).

Import Prices by Country

The import price in Latin America and the Caribbean stood at $X per ton in 2023, picking up by X% against the previous year. Over the last eleven-year period, it increased at an average annual rate of X%. The most prominent rate of growth was recorded in 2022 when the import price increased by X% against the previous year. Over the period under review, import prices hit record highs in 2023 and is expected to retain growth in the near future.

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

From 2012 to 2023, the most notable rate of growth in terms of prices was attained by Mexico (X%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform