ECOWAS: Confectionery Market 2024

Confectionery Market Size in ECOWAS

The ECOWAS confectionery market rose sharply to $X in 2022, picking up by X% against the previous year. The market value increased at an average annual rate of X% over the period from 2012 to 2022; however, the trend pattern remained relatively stable, with only minor fluctuations being observed in certain years. Over the period under review, the market reached the maximum level in 2022 and is expected to retain growth in the immediate term.

Confectionery Production in ECOWAS

In value terms, confectionery production amounted to $X in 2022 estimated in export price. The total output value increased at an average annual rate of X% from 2012 to 2022; however, the trend pattern remained relatively stable, with only minor fluctuations in certain years. The pace of growth appeared the most rapid in 2013 with an increase of X%. As a result, production attained the peak level of $X. From 2014 to 2022, production growth failed to regain momentum.

Confectionery Exports

Exports in ECOWAS

In 2022, after five years of growth, there was significant decline in shipments abroad of confectionery, when their volume decreased by X% to X tons. Total exports indicated a prominent expansion 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. The pace of growth appeared the most rapid in 2013 when exports increased by X% against the previous year. The volume of export peaked at X tons in 2021, and then fell dramatically in the following year.

In value terms, confectionery exports dropped markedly to $X in 2022. Total exports indicated a buoyant expansion 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. The pace of growth appeared the most rapid in 2013 with an increase of X%. The level of export peaked at $X in 2021, and then contracted significantly in the following year.

Exports by Country

Cote d'Ivoire (X tons) and Ghana (X tons) dominates exports structure, together making up X% of total exports. Nigeria (X tons) and Togo (X tons) took a little share of total exports.

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

In value terms, the largest confectionery supplying countries in ECOWAS were Ghana ($X), Cote d'Ivoire ($X) and Nigeria ($X), with a combined X% share of total exports. Togo lagged somewhat behind, comprising a further X%.

In terms of the main exporting countries, Togo, with a CAGR of X%, saw the highest rates of growth with regard to the value of exports, over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

In 2022, the export price in ECOWAS amounted to $X per ton, therefore, remained relatively stable against the previous year. Over the period under review, the export price continues to indicate a relatively flat trend pattern. The pace of growth appeared the most rapid in 2020 when the export price increased by X%. Over the period under review, the export prices hit record highs at $X per ton in 2016; however, from 2017 to 2022, the export prices stood at a somewhat lower figure.

There were significant differences in the average prices amongst the major exporting countries. In 2022, amid the top suppliers, the country with the highest price was Ghana ($X per ton), while Togo ($X per ton) was amongst the lowest.

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

Confectionery Imports

Imports in ECOWAS

Confectionery imports fell remarkably to X tons in 2022, waning by X% against the previous year. Total imports indicated a noticeable expansion 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. The pace of growth was the most pronounced in 2013 when imports increased by X%. The volume of import peaked at X tons in 2021, and then reduced notably in the following year.

In value terms, confectionery imports reduced remarkably to $X in 2022. The total import value increased at an average annual rate of X% from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The most prominent rate of growth was recorded in 2013 with an increase of X% against the previous year. The level of import peaked at $X in 2021, and then declined remarkably in the following year.

Imports by Country

In 2022, Ghana (X tons) and Nigeria (X tons) represented the key importers of confectionery in ECOWAS, together resulting at near X% of total imports. Guinea (X tons) held an X% share (based on physical terms) of total imports, which put it in second place, followed by Mali (X%), Burkina Faso (X%), Senegal (X%), Togo (X%), Gambia (X%) and Cote d'Ivoire (X%). Niger (X tons) followed a long way behind the leaders.

From 2012 to 2022, the most notable rate of growth in terms of purchases, amongst the leading importing countries, was attained by Mali (with a CAGR of X%), while imports for the other leaders experienced more modest paces of growth.

In value terms, the largest confectionery importing markets in ECOWAS were Ghana ($X), Nigeria ($X) and Guinea ($X), together accounting for X% of total imports. Senegal, Mali, Cote d'Ivoire, Gambia, Niger, Togo and Burkina Faso lagged somewhat behind, together accounting for a further X%.

In terms of the main importing countries, Mali, with a CAGR of X%, saw the highest rates of growth with regard to 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 import price in ECOWAS amounted to $X per ton, growing by X% against the previous year. Overall, the import price saw a relatively flat trend pattern. Over the period under review, import prices attained the maximum at $X per ton in 2015; however, from 2016 to 2022, import prices stood at a somewhat lower figure.

There were significant differences in the average prices amongst the major importing countries. In 2022, amid the top importers, the country with the highest price was Senegal ($X per ton), while Burkina Faso ($X per ton) was amongst the lowest.

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

Source: IndexBox Platform

Frequently Asked Questions (FAQ) :