ECOWAS: Chewing Gum Market 2024

Chewing Gum Market Size in ECOWAS

In 2022, the ECOWAS chewing gum market increased by X% to $X, rising for the second consecutive year after three years of decline. Over the period under review, consumption, however, showed a perceptible reduction. As a result, consumption attained the peak level of $X. From 2015 to 2022, the growth of the market remained at a somewhat lower figure.

Chewing Gum Production in ECOWAS

In value terms, chewing gum production shrank slightly to $X in 2022 estimated in export price. Over the period under review, production continues to indicate a abrupt contraction. The most prominent rate of growth was recorded in 2014 with an increase of X%. The level of production peaked at $X in 2012; however, from 2013 to 2022, production remained at a lower figure.

Chewing Gum Exports

Exports in ECOWAS

In 2022, shipments abroad of chewing gum increased by X% to X tons, rising for the second year in a row after three years of decline. In general, exports, however, recorded a deep setback. The pace of growth appeared the most rapid in 2017 with an increase of X%. The volume of export peaked at X tons in 2012; however, from 2013 to 2022, the exports stood at a somewhat lower figure.

In value terms, chewing gum exports expanded slightly to $X in 2022. Over the period under review, exports, however, saw a abrupt shrinkage. The pace of growth appeared the most rapid in 2021 when exports increased by X%. Over the period under review, the exports hit record highs at $X in 2012; however, from 2013 to 2022, the exports stood at a somewhat lower figure.

Exports by Country

Cote d'Ivoire prevails in exports structure, amounting to X tons, which was near X% of total exports in 2022. Ghana (X tons) and Togo (X tons) followed a long way behind the leaders.

From 2012 to 2022, average annual rates of growth with regard to chewing gum exports from Cote d'Ivoire stood at X%. At the same time, Ghana (X%) displayed positive paces of growth. Moreover, Ghana emerged as the fastest-growing exporter exported in ECOWAS, with a CAGR of X% from 2012-2022. By contrast, Togo (X%) illustrated a downward trend over the same period. Cote d'Ivoire (X p.p.) and Ghana (X p.p.) significantly strengthened its position in terms of the total exports, while Togo saw its share reduced by X% from 2012 to 2022, respectively.

In value terms, Cote d'Ivoire ($X) remains the largest chewing gum supplier in ECOWAS, comprising X% of total exports. The second position in the ranking was held by Ghana ($X), with a X% share of total exports.

In Cote d'Ivoire, chewing gum exports declined by an average annual rate of X% over the period from 2012-2022. The remaining exporting countries recorded the following average annual rates of exports growth: Ghana (X% per year) and Togo (X% per year).

Export Prices by Country

The export price in ECOWAS stood at $X per ton in 2022, waning by X% against the previous year. Over the last decade, it increased at an average annual rate of X%. The most prominent rate of growth was recorded in 2021 when the export price increased by X%. As a result, the export price attained the peak level of $X per ton, and then contracted slightly in the following year.

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

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Cote d'Ivoire (X%), while the other leaders experienced a decline in the export price figures.

Chewing Gum Imports

Imports in ECOWAS

In 2022, overseas purchases of chewing gum increased by X% to X tons, rising for the second year in a row after two years of decline. Total imports indicated strong growth 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. Based on 2022 figures, imports increased by X% against 2020 indices. The pace of growth appeared the most rapid in 2017 with an increase of X% against the previous year. Over the period under review, imports hit record highs at X tons in 2018; however, from 2019 to 2022, imports failed to regain momentum.

In value terms, chewing gum imports reduced modestly to $X in 2022. Total imports indicated strong growth 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. Based on 2022 figures, imports decreased by X% against 2018 indices. The most prominent rate of growth was recorded in 2013 when imports increased by X%. The level of import peaked at $X in 2018; however, from 2019 to 2022, imports stood at a somewhat lower figure.

Imports by Country

Ghana (X tons) and Burkina Faso (X tons) represented roughly X% of total imports in 2022. Guinea (X tons) took the next position in the ranking, followed by Togo (X tons), Senegal (X tons), Nigeria (X tons) and Gambia (X tons). All these countries together took near X% share of total imports.

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

In value terms, the largest chewing gum importing markets in ECOWAS were Ghana ($X), Senegal ($X) and Guinea ($X), together accounting for X% of total imports. Nigeria, Gambia, Burkina Faso and Togo lagged somewhat behind, together comprising a further X%.

Burkina Faso, 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

The import price in ECOWAS stood at $X per ton in 2022, with a decrease of X% against the previous year. Overall, the import price showed a relatively flat trend pattern. The most prominent rate of growth was recorded in 2016 an increase of X%. As a result, import price attained the peak level of $X per ton. From 2017 to 2022, the import prices remained at a somewhat lower figure.

Prices varied noticeably by country of destination: 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 Nigeria (X%), while the other leaders experienced mixed trends in the import price figures.

Source: IndexBox Platform

Frequently Asked Questions (FAQ) :