Turkey: Waffle And Wafer Market 2024

Waffle And Wafer Market Size in Turkey

In 2022, the Turkish waffle and wafer market decreased by X% to $X, falling for the third year in a row after four years of growth. Overall, consumption saw a perceptible setback. Over the period under review, the market hit record highs at $X in 2019; however, from 2020 to 2022, consumption failed to regain momentum.

Waffle And Wafer Production in Turkey

In value terms, waffle and wafer production fell to $X in 2022 estimated in export price. In general, production, however, showed prominent growth. The most prominent rate of growth was recorded in 2018 when the production volume increased by X% against the previous year. Over the period under review, production reached the peak level at $X in 2019; however, from 2020 to 2022, production stood at a somewhat lower figure.

Waffle And Wafer Exports

Exports from Turkey

In 2022, overseas shipments of waffles and wafers decreased by X% to X tons for the first time since 2015, thus ending a six-year rising trend. Overall, exports, however, recorded a resilient expansion. The pace of growth appeared the most rapid in 2017 with an increase of X% against the previous year. Over the period under review, the exports attained the maximum at X tons in 2021, and then fell slightly in the following year.

In value terms, waffle and wafer exports soared to $X in 2022. Over the period under review, exports, however, posted prominent growth. The most prominent rate of growth was recorded in 2017 when exports increased by X%. The exports peaked in 2022 and are likely to see steady growth in years to come.

Exports by Country

Iraq (X tons) was the main destination for waffle and wafer exports from Turkey, accounting for a X% share of total exports. Moreover, waffle and wafer exports to Iraq exceeded the volume sent to the second major destination, Israel (X tons), eightfold. The third position in this ranking was taken by Libya (X tons), with a X% share.

From 2012 to 2022, the average annual growth rate of volume to Iraq stood at X%. Exports to the other major destinations recorded the following average annual rates of exports growth: Israel (X% per year) and Libya (X% per year).

In value terms, Iraq ($X) remains the key foreign market for waffles and wafers exports from Turkey, comprising X% of total exports. The second position in the ranking was taken by Libya ($X), with a X% share of total exports. It was followed by Israel, with a X% share.

From 2012 to 2022, the average annual rate of growth in terms of value to Iraq amounted to X%. Exports to the other major destinations recorded the following average annual rates of exports growth: Libya (X% per year) and Israel (X% per year).

Export Prices by Country

The average waffle and wafer export price stood at $X per ton in 2022, with an increase of X% against the previous year. In general, the export price saw a relatively flat trend pattern. As a result, the export price reached the peak level and is likely to continue growth in the immediate term.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Belgium ($X per ton), while the average price for exports to Cote d'Ivoire ($X per ton) was amongst the lowest.

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

Waffle And Wafer Imports

Imports into Turkey

In 2022, the amount of waffles and wafers imported into Turkey skyrocketed to X tons, jumping by X% compared with the previous year's figure. Overall, imports, however, recorded a noticeable curtailment. Over the period under review, imports attained the peak figure at X tons in 2015; however, from 2016 to 2022, imports remained at a lower figure.

In value terms, waffle and wafer imports surged to $X in 2022. In general, imports, however, continue to indicate a relatively flat trend pattern. Imports peaked at $X in 2015; however, from 2016 to 2022, imports stood at a somewhat lower figure.

Imports by Country

Poland (X tons), Germany (X tons) and the Netherlands (X tons) were the main suppliers of waffle and wafer imports to Turkey, with a combined X% share of total imports. Bulgaria, Italy, Iran and the Czech Republic lagged somewhat behind, together accounting for a further X%.

From 2012 to 2022, the biggest increases were recorded for Iran (with a CAGR of X%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, the largest waffle and wafer suppliers to Turkey were Poland ($X), Germany ($X) and the Netherlands ($X), together accounting for X% of total imports. Italy, Bulgaria, Iran and the Czech Republic lagged somewhat behind, together comprising a further X%.

Among the main suppliers, Iran, with a CAGR of X%, saw the highest growth rate of the value of imports, over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

In 2022, the average waffle and wafer import price amounted to $X per ton, declining by X% against the previous year. Over the last decade, it increased at an average annual rate of X%. The pace of growth was the most pronounced in 2019 when the average import price increased by X%. The import price peaked at $X per ton in 2021, and then declined in the following year.

There were significant differences in the average prices amongst the major supplying countries. In 2022, amid the top importers, the country with the highest price was the Czech Republic ($X per ton), while the price for Iran ($X per ton) was amongst the lowest.

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

Source: IndexBox Platform

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