ECOWAS: Confectionery-Making Industrial Machinery Market 2024

Confectionery-Making Industrial Machinery Market Size in ECOWAS

The ECOWAS confectionery-making industrial machinery market skyrocketed to $X in 2023, jumping by X% against the previous year. Overall, consumption posted resilient growth. As a result, consumption reached the peak level of $X. From 2020 to 2023, the growth of the market failed to regain momentum.

Confectionery-Making Industrial Machinery Production in ECOWAS

In value terms, confectionery-making industrial machinery production soared to $X in 2023 estimated in export price. Over the period under review, production recorded a buoyant increase. The most prominent rate of growth was recorded in 2021 when the production volume increased by X% against the previous year. Over the period under review, production hit record highs at $X in 2019; however, from 2020 to 2023, production failed to regain momentum.

Confectionery-Making Industrial Machinery Exports

Exports in ECOWAS

In 2023, the amount of industrial machinery for the manufacture or preparation of confectionery, cocoa or chocolate exported in ECOWAS fell to X units, shrinking by X% against the previous year's figure. Overall, exports saw a noticeable slump. The most prominent rate of growth was recorded in 2013 when exports increased by X% against the previous year. As a result, the exports attained the peak of X units. From 2014 to 2023, the growth of the exports remained at a lower figure.

In value terms, confectionery-making industrial machinery exports reduced remarkably to $X in 2023. Over the period under review, exports continue to indicate a drastic downturn. The most prominent rate of growth was recorded in 2020 with an increase of X%. As a result, the exports reached the peak of $X. From 2021 to 2023, the growth of the exports failed to regain momentum.

Exports by Country

Ghana represented the largest exporting country with an export of around X units, which recorded X% of total exports. Cote d'Ivoire (X units) took a X% share (based on physical terms) of total exports, which put it in second place, followed by Nigeria (X%).

From 2012 to 2023, the biggest increases were recorded for Cote d'Ivoire (with a CAGR of X%), while shipments for the other leaders experienced a decline in the exports figures.

In value terms, Cote d'Ivoire ($X), Nigeria ($X) and Ghana ($X) were the countries with the highest levels of exports in 2023.

Cote d'Ivoire, with a CAGR of X%, saw the highest growth rate of the value of exports, in terms of the main exporting countries over the period under review, while shipments for the other leaders experienced a decline in the exports figures.

Export Prices by Country

In 2023, the export price in ECOWAS amounted to $X per unit, which is down by X% against the previous year. In general, the export price showed a deep contraction. The pace of growth was the most pronounced in 2014 an increase of X%. The level of export peaked at $X per unit in 2012; however, from 2013 to 2023, the export prices stood at a somewhat lower figure.

Prices varied noticeably by country of origin: amid the top suppliers, the country with the highest price was Cote d'Ivoire ($X per unit), while Ghana ($X per unit) was amongst the lowest.

From 2012 to 2023, the most notable rate of growth in terms of prices was attained by Cote d'Ivoire (X%), while the other leaders experienced a decline in the export price figures.

Confectionery-Making Industrial Machinery Imports

Imports in ECOWAS

In 2023, purchases abroad of industrial machinery for the manufacture or preparation of confectionery, cocoa or chocolate increased by X% to X units for the first time since 2020, thus ending a two-year declining trend. Overall, imports saw resilient growth. The most prominent rate of growth was recorded in 2019 with an increase of X% against the previous year. Over the period under review, imports reached the maximum at X units in 2020; however, from 2021 to 2023, imports remained at a lower figure.

In value terms, confectionery-making industrial machinery imports expanded notably to $X in 2023. Over the period under review, imports saw a prominent expansion. The most prominent rate of growth was recorded in 2013 with an increase of X%. Over the period under review, imports attained the maximum at $X in 2020; however, from 2021 to 2023, imports remained at a lower figure.

Imports by Country

Nigeria (X units) and Cote d'Ivoire (X units) prevails in imports structure, together generating X% of total imports. Ghana (X units) ranks next in terms of the total imports with a X% share, followed by Senegal (X%). Togo (X units) 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 Togo (with a CAGR of X%), while imports for the other leaders experienced more modest paces of growth.

In value terms, the largest confectionery-making industrial machinery importing markets in ECOWAS were Cote d'Ivoire ($X), Nigeria ($X) and Ghana ($X), with a combined X% share of total imports.

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

Import Prices by Country

In 2023, the import price in ECOWAS amounted to $X per unit, shrinking by X% against the previous year. In general, the import price showed a mild slump. The growth pace was the most rapid in 2013 an increase of X%. Over the period under review, import prices hit record highs at $X per unit in 2014; however, from 2015 to 2023, import prices remained at a lower figure.

Average prices varied somewhat amongst the major importing countries. In 2023, major importing countries recorded the following prices: in Senegal ($X per unit) and Nigeria ($X per unit), while Ghana ($X per unit) and Cote d'Ivoire ($X per unit) were amongst the lowest.

From 2012 to 2023, the most notable rate of growth in terms of prices was attained by Ghana (X%), while the other leaders experienced a decline in the import price figures.

Source: IndexBox Platform