ECOWAS: Gingerbread Market 2024

Gingerbread Market Size in ECOWAS

The ECOWAS gingerbread market contracted modestly to $X in 2022, standing approx. at the previous year. Overall, consumption saw a remarkable increase. Over the period under review, the market reached the peak level at $X in 2019; however, from 2020 to 2022, consumption stood at a somewhat lower figure.

Gingerbread Production in ECOWAS

In value terms, gingerbread production contracted to $X in 2022 estimated in export price. Over the period under review, production recorded a buoyant expansion. The growth pace was the most rapid in 2013 when the production volume increased by 29%. The level of production peaked at $X in 2019; however, from 2020 to 2022, production remained at a lower figure.

Gingerbread Exports

Exports in ECOWAS

In 2022, after five years of growth, there was significant decline in shipments abroad of gingerbread, when their volume decreased by -33.3% to X tons. Overall, exports, however, saw pronounced growth. The most prominent rate of growth was recorded in 2014 with an increase of 384% against the previous year. As a result, the exports attained the peak of X tons. From 2015 to 2022, the growth of the exports failed to regain momentum.

In value terms, gingerbread exports dropped markedly to $X in 2022. In general, exports saw a pronounced decline. The pace of growth was the most pronounced in 2014 with an increase of 321%. As a result, the exports reached the peak of $X. From 2015 to 2022, the growth of the exports failed to regain momentum.

Exports by Country

Nigeria prevails in exports structure, amounting to X tons, which was approx. 92% of total exports in 2022. It was distantly followed by Togo (X tons), comprising a 4.5% share of total exports.

Exports from Nigeria increased at an average annual rate of +4.1% from 2012 to 2022. At the same time, Togo (+57.9%) displayed positive paces of growth. Moreover, Togo emerged as the fastest-growing exporter exported in ECOWAS, with a CAGR of +57.9% from 2012-2022. Nigeria (+4.6 p.p.) and Togo (+4.5 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, Nigeria ($X) remains the largest gingerbread supplier in ECOWAS, comprising 92% of total exports. The second position in the ranking was taken by Togo ($X), with a 2.2% share of total exports.

In Nigeria, gingerbread exports contracted by an average annual rate of -2.3% over the period from 2012-2022.

Export Prices by Country

In 2022, the export price in ECOWAS amounted to $X per ton, picking up by 5.2% against the previous year. In general, the export price, however, continues to indicate a deep downturn. The most prominent rate of growth was recorded in 2013 an increase of 40%. As a result, the export price reached the peak level of $X per ton. From 2014 to 2022, the export prices failed to regain momentum.

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 Nigeria ($X per ton), while Togo stood at $X per ton.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Togo (+0.2%).

Gingerbread Imports

Imports in ECOWAS

For the fourth year in a row, ECOWAS recorded growth in purchases abroad of gingerbread, which increased by 20% to X tons in 2022. Overall, imports posted a resilient expansion. The most prominent rate of growth was recorded in 2020 with an increase of 76% against the previous year. Over the period under review, imports attained the maximum in 2022 and are expected to retain growth in the near future.

In value terms, gingerbread imports fell modestly to $X in 2022. Over the period under review, imports, however, showed a perceptible decrease. The most prominent rate of growth was recorded in 2020 with an increase of 80% against the previous year. Over the period under review, imports hit record highs at $X in 2012; however, from 2013 to 2022, imports remained at a lower figure.

Imports by Country

In 2022, Nigeria (X tons) and Senegal (X tons) were the key importers of gingerbread in ECOWAS, together recording near 57% of total imports. Benin (X tons) held the next position in the ranking, followed by Cote d'Ivoire (X tons). All these countries together took approx. 27% share of total imports. The following importers - Liberia (X tons), Togo (X tons) and Ghana (X tons) - together made up 9.3% of total imports.

From 2012 to 2022, the biggest increases were recorded for Senegal (with a CAGR of +32.9%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, the largest gingerbread importing markets in ECOWAS were Nigeria ($X), Senegal ($X) and Cote d'Ivoire ($X), with a combined 64% share of total imports.

Senegal, with a CAGR of +22.6%, 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 2022, the import price in ECOWAS amounted to $X per ton, dropping by -17.7% against the previous year. Overall, the import price showed a deep downturn. The growth pace was the most rapid in 2018 when the import price increased by 23%. Over the period under review, import prices reached the maximum at $X per ton in 2012; however, from 2013 to 2022, import prices stood at a somewhat lower figure.

Prices varied noticeably by country of destination: amid the top importers, the country with the highest price was Ghana ($X per ton), while Benin ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Ghana (+5.0%), while the other leaders experienced mixed trends in the import price figures.

Source: IndexBox Platform

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