ECOWAS: Market for Chocolate Bars with Cereals, Fruit or Nuts 2024

Market Size for Chocolate Bars with Cereals, Fruit or Nuts in ECOWAS

The ECOWAS market for chocolate bars with cereals, fruit or nuts expanded markedly to $X in 2022, increasing by X% against the previous year. The total consumption indicated a pronounced 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. Based on 2022 figures, consumption decreased by X% against 2020 indices. As a result, consumption reached the peak level of $X. From 2021 to 2022, the growth of the market remained at a somewhat lower figure.

Production of Chocolate Bars with Cereals, Fruit or Nuts in ECOWAS

In value terms, production of chocolate bars with cereals, fruit or nuts rose notably to $X in 2022 estimated in export price. The total production indicated a mild 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. Based on 2022 figures, production decreased by X% against 2020 indices. The most prominent rate of growth was recorded in 2019 when the production volume increased by X% against the previous year. Over the period under review, production of reached the peak level at $X in 2020; however, from 2021 to 2022, production stood at a somewhat lower figure.

Exports of Chocolate Bars with Cereals, Fruit or Nuts

Exports in ECOWAS

In 2022, exports of chocolate bars with cereals, fruit or nuts in ECOWAS surged to X tons, jumping by X% compared with 2021 figures. In general, exports, however, recorded a abrupt descent. The pace of growth was the most pronounced in 2018 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, exports of chocolate bars with cereals, fruit or nuts skyrocketed to $X in 2022. Overall, exports, however, showed a deep downturn. The pace of growth appeared the most rapid in 2018 when exports increased by X% against the previous year. Over the period under review, the exports of attained the maximum at $X in 2012; however, from 2013 to 2022, the exports remained at a lower figure.

Exports by Country

In 2022, Ghana (X tons) was the largest exporter of chocolate bars with cereals, fruit or nuts, constituting X% of total exports. It was distantly followed by Nigeria (X tons), committing a X% share of total exports.

Ghana was also the fastest-growing in terms of the chocolate bars with cereals, fruit or nuts exports, with a CAGR of X% from 2012 to 2022. At the same time, Nigeria (X%) displayed positive paces of growth. Ghana (X p.p.) and Nigeria (X p.p.) significantly strengthened its position in terms of the total exports, while the shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Ghana ($X) remains the largest cereal, fruit or nut chocolate bar supplier in ECOWAS, comprising X% of total exports. The second position in the ranking was held by Nigeria ($X), with a X% share of total exports.

From 2012 to 2022, the average annual growth rate of value in Ghana totaled X%.

Export Prices by Country

The export price in ECOWAS stood at $X per ton in 2022, declining by X% against the previous year. In general, the export price continues to indicate a pronounced descent. The most prominent rate of growth was recorded in 2017 an increase of X% against the previous year. The level of export peaked at $X per ton in 2012; however, from 2013 to 2022, the export prices failed to regain momentum.

Average prices varied noticeably amongst the major exporting countries. In 2022, amid the top suppliers, the country with the highest price was Ghana ($X per ton), while Nigeria stood at $X per ton.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Ghana (X%).

Imports of Chocolate Bars with Cereals, Fruit or Nuts

Imports in ECOWAS

For the third consecutive year, ECOWAS recorded growth in supplies from abroad of chocolate bars with cereals, fruit or nuts, which increased by X% to X tons in 2022. In general, imports continue to indicate a resilient expansion. The pace of growth was the most pronounced in 2018 with an increase of X%. The volume of import peaked in 2022 and is expected to retain growth in the immediate term.

In value terms, imports of chocolate bars with cereals, fruit or nuts skyrocketed to $X in 2022. Overall, imports continue to indicate a resilient expansion. The growth pace was the most rapid in 2020 when imports increased by X% against the previous year. Over the period under review, imports of attained the peak figure in 2022 and are likely to continue growth in the immediate term.

Imports by Country

Nigeria represented the largest importer of chocolate bars with cereals, fruit or nuts in ECOWAS, with the volume of imports amounting to X tons, which was near X% of total imports in 2022. It was distantly followed by Senegal (X tons) and Togo (X tons), together committing a X% share of total imports. The following importers - Cote d'Ivoire (X tons), Sierra Leone (X tons) and Ghana (X tons) - each reached a X% share of total imports.

Nigeria was also the fastest-growing in terms of the chocolate bars with cereals, fruit or nuts imports, with a CAGR of X% from 2012 to 2022. At the same time, Senegal (X%) and Sierra Leone (X%) displayed positive paces of growth. Togo experienced a relatively flat trend pattern. By contrast, Cote d'Ivoire (X%) and Ghana (X%) illustrated a downward trend over the same period. While the share of Nigeria (X p.p.) and Senegal (X p.p.) increased significantly in terms of the total imports from 2012-2022, the share of Cote d'Ivoire (X p.p.), Ghana (X p.p.) and Togo (X p.p.) displayed negative dynamics. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Nigeria ($X) constitutes the largest market for imported chocolate bars with cereals, fruit or nuts in ECOWAS, comprising X% of total imports. The second position in the ranking was taken by Senegal ($X), with a X% share of total imports. It was followed by Cote d'Ivoire, with a X% share.

In Nigeria, imports of chocolate bars with cereals, fruit or nuts increased at an average annual rate of X% over the period from 2012-2022. In the other countries, the average annual rates were as follows: Senegal (X% per year) and Cote d'Ivoire (X% per year).

Import Prices by Country

The import price in ECOWAS stood at $X per ton in 2022, picking up 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 2017 when the import price increased by X% against the previous year. Over the period under review, import prices attained the peak figure at $X per ton in 2020; however, from 2021 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 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 Sierra Leone (X%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform

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