IndexBox has just published a new report: ‘U.S. – Waffles And Wafers Without Chocolate – Market Analysis, Forecast, Size, Trends, And Insights’. Here is a summary of the report’s key findings.
American waffle and wafer imports reached $598M, the highest level ever. In physical terms, imports rose by +5.9% y-o-y to 123K tonnes in 2020. Canada remains the largest supplier of waffles and wafers to the U.S., comprising 55% of American import volume. Italy, Belgium, Turkey, Costa Rica, Austria and Mexico have boosted their exports to the U.S. In 2020, the average waffle and wafer import price amounted to $4,879 per tonne, which was 4.5% down the figures of 2019.
American Imports of Waffles and Wafers
Waffle and wafer imports into the U.S. amounted to 123K tonnes in 2020, increasing by +5.9% on the year before. In value terms, waffle and wafer imports rose by +1.2% y-o-y to $598M (IndexBox estimates) in 2020.
In 2020, Canada (67K tonnes) constituted the largest waffle and wafer supplier to the U.S., with a 55% share of total imports. Moreover, waffle and wafer imports from Canada exceeded the figures recorded by the second-largest supplier, Italy (8.1K tonnes), eightfold. The third position in this ranking was occupied by Mexico (6.9K tonnes), with a 5.6% share.
In value terms, Canada ($346M) constituted the largest supplier of waffles and wafers to the U.S., comprising 58% of total imports. The second position in the ranking was occupied by Italy ($59M), with a 9.8% share of total imports. It was followed by Belgium, with a 5.1% share.
In 2020, the average annual rate of growth in terms of value from Canada amounted to -5.1%. The remaining supplying countries recorded the following average annual rates of imports growth: Italy (+26.2% per year) and Belgium (+21.4% per year). Among other suppliers, Turkey, Costa Rica, Austria and Mexico have also increased their exports to the U.S. significantly.
In 2020, the average waffle and wafer import price amounted to $4,879 per tonne, shrinking by -4.5% against the previous year. There were significant differences in the average prices amongst the major supplying countries. In 2020, the country with the highest price was Germany, while the price for Colombia was amongst the lowest. In 2020, the most notable rate of growth in terms of prices was attained by Turkey, while the prices for the other major suppliers experienced more modest paces of growth.
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