Nigeria - Sweet Biscuits, Waffles and Wafers - Market Analysis, Forecast, Size, Trends and Insights
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View PricingNigeria: Market for Sweet Biscuits, Waffles and Wafers 2024
Market Size for Sweet Biscuits, Waffles and Wafers in Nigeria
The Nigerien market for sweet biscuits, waffles and wafers contracted slightly to $X in 2023, dropping by X% against the previous year. In general, the total consumption indicated a strong increase from 2012 to 2023: its value increased at an average annual rate of X% over the last eleven years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2023 figures, consumption decreased by X% against 2020 indices. Over the period under review, the market reached the peak level at $X in 2020; however, from 2021 to 2023, consumption stood at a somewhat lower figure.
Production of Sweet Biscuits, Waffles and Wafers in Nigeria
In value terms, sweet biscuit, waffle and wafer production fell slightly to $X in 2023 estimated in export price. Over the period under review, the total production indicated a remarkable increase from 2012 to 2023: its value increased at an average annual rate of X% over the last eleven years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2023 figures, production decreased by X% against 2020 indices. The pace of growth appeared the most rapid in 2015 with an increase of X% against the previous year. Sweet biscuit, waffle and wafer production peaked at $X in 2020; however, from 2021 to 2023, production remained at a lower figure.
Exports of Sweet Biscuits, Waffles and Wafers
Exports from Nigeria
In 2023, the amount of sweet biscuits, waffles and wafers exported from Nigeria soared to X tons, with an increase of X% against 2022 figures. Over the period under review, exports, however, saw a abrupt shrinkage. The pace of growth appeared the most rapid in 2016 when exports increased by X%. Over the period under review, the exports hit record highs at X tons in 2012; however, from 2013 to 2023, the exports remained at a lower figure.
In value terms, sweet biscuit, waffle and wafer exports skyrocketed to $X in 2023. In general, exports, however, faced a deep downturn. The exports peaked at $X in 2012; however, from 2013 to 2023, the exports stood at a somewhat lower figure.
Exports by Country
Ghana (X tons), Togo (X tons) and Benin (X kg) were the main destinations of sweet biscuit, waffle and wafer exports from Nigeria, with a combined X% share of total exports.
From 2012 to 2023, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by Ghana (with a CAGR of X%), while the other leaders experienced a decline.
In value terms, Ghana ($X) remains the key foreign market for sweet biscuits, waffles and wafers exports from Nigeria, comprising X% of total exports. The second position in the ranking was taken by Togo ($X), with a X% share of total exports.
From 2012 to 2023, the average annual growth rate of value to Ghana stood at X%. Exports to the other major destinations recorded the following average annual rates of exports growth: Togo (X% per year) and Benin (X% per year).
Export Prices by Country
The average export price for sweet biscuits, waffles and wafers stood at $X per ton in 2023, picking up by X% against the previous year. In general, the export price, however, recorded a relatively flat trend pattern. The export price peaked at $X per ton in 2017; however, from 2018 to 2023, the export prices remained at a lower figure.
There were significant differences in the average prices for the major overseas markets. In 2023, amid the top suppliers, the country with the highest price was Ghana ($X per ton), while the average price for exports to Togo ($X per ton) was amongst the lowest.
From 2012 to 2023, the most notable rate of growth in terms of prices was recorded for supplies to Togo (X%), while the prices for the other major destinations experienced a decline.
Imports of Sweet Biscuits, Waffles and Wafers
Imports into Nigeria
In 2023, overseas purchases of sweet biscuits, waffles and wafers were finally on the rise to reach X tons for the first time since 2020, thus ending a two-year declining trend. Overall, imports, however, showed a noticeable decrease. The growth pace was the most rapid in 2019 with an increase of X%. Over the period under review, imports reached the peak figure at X tons in 2013; however, from 2014 to 2023, imports stood at a somewhat lower figure.
In value terms, sweet biscuit, waffle and wafer imports reduced to $X in 2023. In general, imports, however, recorded a deep contraction. The pace of growth was the most pronounced in 2020 when imports increased by X% against the previous year. Imports peaked at $X in 2013; however, from 2014 to 2023, imports remained at a lower figure.
Imports by Country
In 2023, China (X tons) constituted the largest sweet biscuit, waffle and wafer supplier to Nigeria, accounting for a X% share of total imports. Moreover, sweet biscuit, waffle and wafer imports from China exceeded the figures recorded by the second-largest supplier, the UK (X tons), threefold. The third position in this ranking was held by India (X tons), with a X% share.
From 2012 to 2023, the average annual growth rate of volume from China was relatively modest. The remaining supplying countries recorded the following average annual rates of imports growth: the UK (X% per year) and India (X% per year).
In value terms, China ($X), the UK ($X) and India ($X) constituted the largest sweet biscuit, waffle and wafer suppliers to Nigeria, with a combined X% share of total imports. Vietnam, Algeria, Italy, the United Arab Emirates, South Africa, Indonesia and Spain lagged somewhat behind, together comprising a further X%.
Vietnam, with a CAGR of X%, saw the highest rates of growth with regard to the value of imports, in terms of the main suppliers over the period under review, while purchases for the other leaders experienced more modest paces of growth.
Import Prices by Country
The average import price for sweet biscuits, waffles and wafers stood at $X per ton in 2023, which is down by X% against the previous year. Overall, the import price recorded a noticeable curtailment. The pace of growth appeared the most rapid in 2014 an increase of X% against the previous year. As a result, import price reached the peak level of $X per ton. From 2015 to 2023, the average import prices remained at a somewhat lower figure.
There were significant differences in the average prices amongst the major supplying countries. In 2023, amid the top importers, the country with the highest price was the UK ($X per ton), while the price for Spain ($X per ton) was amongst the lowest.
From 2012 to 2023, the most notable rate of growth in terms of prices was attained by China (X%), while the prices for the other major suppliers experienced more modest paces of growth.
Source: IndexBox Platform
This report provides an in-depth analysis of the market for sweet biscuit, waffle and wafer in Nigeria. Within it, you will discover the latest data on market trends and opportunities by country, consumption, production and price developments, as well as the global trade (imports and exports). The forecast exhibits the market prospects through 2030.
Product coverage:
- Prodcom 10721253 - Sweet biscuits, waffles and wafers completely or partially coated or covered with chocolate or other preparations containing cocoa
Country coverage:
- Nigeria
Data coverage:
- Market volume and value
- Per Capita consumption
- Forecast of the market dynamics in the medium term
- Trade (exports and imports) in Nigeria
- Export and import prices
- Market trends, drivers and restraints
- Key market players and their profiles
Reasons to buy this report:
- Take advantage of the latest data
- Find deeper insights into current market developments
- Discover vital success factors affecting the market
This report is designed for manufacturers, distributors, importers, and wholesalers, as well as for investors, consultants and advisors.
In this report, you can find information that helps you to make informed decisions on the following issues:
- How to diversify your business and benefit from new market opportunities
- How to load your idle production capacity
- How to boost your sales on overseas markets
- How to increase your profit margins
- How to make your supply chain more sustainable
- How to reduce your production and supply chain costs
- How to outsource production to other countries
- How to prepare your business for global expansion
While doing this research, we combine the accumulated expertise of our analysts and the capabilities of artificial intelligence. The AI-based platform, developed by our data scientists, constitutes the key working tool for business analysts, empowering them to discover deep insights and ideas from the marketing data.
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1. INTRODUCTION
Making Data-Driven Decisions to Grow Your Business
- REPORT DESCRIPTION
- RESEARCH METHODOLOGY AND AI PLATFORM
- DATA-DRIVEN DECISIONS FOR YOUR BUSINESS
- GLOSSARY AND SPECIFIC TERMS
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2. EXECUTIVE SUMMARY
A Quick Overview of Market Performance
- KEY FINDINGS
- MARKET TRENDS This Chapter is Available Only for the Professional Edition PRO
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3. MARKET OVERVIEW
Understanding the Current State of The Market and Its Prospects
- MARKET SIZE
- MARKET STRUCTURE
- TRADE BALANCE
- PER CAPITA CONSUMPTION
- MARKET FORECAST TO 2030
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4. MOST PROMISING PRODUCT
Finding New Products to Diversify Your Business
This Chapter is Available Only for the Professional Edition PRO- TOP PRODUCTS TO DIVERSIFY YOUR BUSINESS
- BEST-SELLING PRODUCTS
- MOST CONSUMED PRODUCT
- MOST TRADED PRODUCT
- MOST PROFITABLE PRODUCT FOR EXPORT
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5. MOST PROMISING SUPPLYING COUNTRIES
Choosing the Best Countries to Establish Your Sustainable Supply Chain
This Chapter is Available Only for the Professional Edition PRO- TOP COUNTRIES TO SOURCE YOUR PRODUCT
- TOP PRODUCING COUNTRIES
- TOP EXPORTING COUNTRIES
- LOW-COST EXPORTING COUNTRIES
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6. MOST PROMISING OVERSEAS MARKETS
Choosing the Best Countries to Boost Your Exports
This Chapter is Available Only for the Professional Edition PRO- TOP OVERSEAS MARKETS FOR EXPORTING YOUR PRODUCT
- TOP CONSUMING MARKETS
- UNSATURATED MARKETS
- TOP IMPORTING MARKETS
- MOST PROFITABLE MARKETS
7. PRODUCTION
The Latest Trends and Insights into The Industry
- PRODUCTION VOLUME AND VALUE
8. IMPORTS
The Largest Import Supplying Countries
- IMPORTS FROM 2012–2023
- IMPORTS BY COUNTRY
- IMPORT PRICES BY COUNTRY
9. EXPORTS
The Largest Destinations for Exports
- EXPORTS FROM 2012–2023
- EXPORTS BY COUNTRY
- EXPORT PRICES BY COUNTRY
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10. PROFILES OF MAJOR PRODUCERS
The Largest Producers on The Market and Their Profiles
This Chapter is Available Only for the Professional Edition PRO -
LIST OF TABLES
- Key Findings In 2023
- Market Volume, In Physical Terms, 2012–2023
- Market Value, 2012–2023
- Per Capita Consumption In 2012-2023
- Imports, In Physical Terms, By Country, 2012–2023
- Imports, In Value Terms, By Country, 2012–2023
- Import Prices, By Country Of Origin, 2012–2023
- Exports, In Physical Terms, By Country, 2012–2023
- Exports, In Value Terms, By Country, 2012–2023
- Export Prices, By Country Of Destination, 2012–2023
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LIST OF FIGURES
- Market Volume, In Physical Terms, 2012–2023
- Market Value, 2012–2023
- Market Structure – Domestic Supply vs. Imports, In Physical Terms, 2012-2023
- Market Structure – Domestic Supply vs. Imports, In Value Terms, 2012-2023
- Trade Balance, In Physical Terms, 2012-2023
- Trade Balance, In Value Terms, 2012-2023
- Per Capita Consumption, 2012-2023
- Market Volume Forecast to 2030
- Market Value Forecast to 2030
- Products: Market Size And Growth, By Type
- Products: Average Per Capita Consumption, By Type
- Products: Exports And Growth, By Type
- Products: Export Prices And Growth, By Type
- Production Volume And Growth
- Exports And Growth
- Export Prices And Growth
- Market Size And Growth
- Per Capita Consumption
- Imports And Growth
- Import Prices
- Production, In Physical Terms, 2012–2023
- Production, In Value Terms, 2012–2023
- Imports, In Physical Terms, 2012–2023
- Imports, In Value Terms, 2012–2023
- Imports, In Physical Terms, By Country, 2023
- Imports, In Physical Terms, By Country, 2012–2023
- Imports, In Value Terms, By Country, 2012–2023
- Import Prices, By Country Of Origin, 2012–2023
- Exports, In Physical Terms, 2012–2023
- Exports, In Value Terms, 2012–2023
- Exports, In Physical Terms, By Country, 2023
- Exports, In Physical Terms, By Country, 2012–2023
- Exports, In Value Terms, By Country, 2012–2023
- Export Prices, By Country Of Destination, 2012–2023
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