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

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

In 2023, the Latin American market for gingerbread, sweet biscuits and waffles decreased by X% to $X, falling for the third year in a row after four years of growth. Over the period under review, consumption saw a relatively flat trend pattern. The level of consumption peaked at $X in 2020; however, from 2021 to 2023, consumption failed to regain momentum.

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

In value terms, gingerbread, sweet biscuit and waffle production shrank slightly to $X in 2023 estimated in export price. The total output value increased at an average annual rate of X% from 2012 to 2023; the trend pattern remained relatively stable, with only minor fluctuations being recorded in certain years. The pace of growth was the most pronounced in 2015 when the production volume increased by X%. Over the period under review, production attained the maximum level at $X in 2020; however, from 2021 to 2023, production stood at a somewhat lower figure.

Exports of Gingerbread, Sweet Biscuits and Waffles

Exports in Latin America and the Caribbean

For the eighth consecutive year, LatAmerica and the Caribbean recorded growth in overseas shipments of gingerbread, sweet biscuits and waffles, which increased by X% to X tons in 2023. Overall, exports recorded a resilient expansion. The pace of growth was the most pronounced in 2021 when exports increased by X% against the previous year. Over the period under review, the exports hit record highs in 2023 and are likely to see gradual growth in the near future.

In value terms, gingerbread, sweet biscuit and waffle exports totaled $X in 2023. Over the period under review, exports showed strong growth. 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 hit record highs in 2023 and are expected to retain growth in the immediate term.

Exports by Country

Mexico prevails in exports structure, resulting at X tons, which was near X% of total exports in 2023. Brazil (X tons) took the second position in the ranking, followed by Peru (X tons) and Guatemala (X tons). All these countries together took 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 gingerbread, sweet biscuits and waffles 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 ($X) remains the largest gingerbread, sweet biscuit and waffle supplier in Latin America and the Caribbean, comprising X% of total exports. The second position in the ranking was taken by Brazil ($X), with an X% share of total exports. It was followed by Peru, with a X% share.

From 2012 to 2023, the average annual growth rate of value in Mexico amounted to X%. 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

In 2023, the export price in Latin America and the Caribbean amounted to $X per ton, with an increase of 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 export price increased by X% against the previous year. Over the period under review, the export prices hit record highs at $X per ton in 2018; however, from 2019 to 2023, the export prices failed to regain momentum.

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 ($X per ton) and Colombia ($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 Gingerbread, Sweet Biscuits and Waffles

Imports in Latin America and the Caribbean

In 2023, overseas purchases of gingerbread, sweet biscuits and waffles decreased by X% to X tons for the first time since 2020, thus ending a two-year rising trend. 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 most prominent rate of growth was recorded in 2021 when imports increased by X% against the previous year. Over the period under review, imports reached the maximum at X tons in 2022, and then reduced modestly in the following year.

In value terms, gingerbread, sweet biscuit and waffle imports rose remarkably to $X in 2023. Total imports indicated resilient growth 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, imports increased by X% against 2020 indices. The pace of growth was the most pronounced in 2021 with an increase of X%. The level of import peaked in 2023 and is likely to see steady growth in the immediate term.

Imports by Country

In 2023, Mexico (X tons), Chile (X tons), Venezuela (X tons), Guatemala (X tons), Colombia (X tons), Paraguay (X tons), Honduras (X tons), the Dominican Republic (X tons), El Salvador (X tons), Uruguay (X tons), Ecuador (X tons) and Nicaragua (X tons) was the main importer of gingerbread, sweet biscuits and waffles in Latin America and the Caribbean, generating X% of total import. 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 key 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 ($X) constitutes the largest market for imported gingerbread, sweet biscuits and waffles in Latin America and the Caribbean, comprising X% of total imports. The second position in the ranking was taken by Chile ($X), with an X% share of total imports. It was followed by Guatemala, with a X% share.

In Mexico, gingerbread, sweet biscuit and waffle imports increased at an average annual rate of X% over the period from 2012-2023. The remaining importing countries recorded the following average annual rates of imports growth: 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, increasing by X% against the previous year. Over the last eleven years, it increased at an average annual rate of X%. The growth pace was the most rapid in 2022 when the import price increased by X%. The level of import peaked in 2023 and is expected to retain growth in the immediate term.

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