Ghana: Gingerbread Market 2024

Gingerbread Market Size in Ghana

The Ghanian gingerbread market contracted modestly to $X in 2022, approximately reflecting the previous year. In general, consumption showed a relatively flat trend pattern. Over the period under review, the market reached the maximum level at $X in 2013; however, from 2014 to 2022, consumption failed to regain momentum.

Gingerbread Production in Ghana

In value terms, gingerbread production shrank modestly to $X in 2022 estimated in export price. Overall, production, however, saw a relatively flat trend pattern. The pace of growth was the most pronounced in 2019 with an increase of 47% against the previous year. As a result, production reached the peak level of $X. From 2020 to 2022, production growth remained at a somewhat lower figure.

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Gingerbread Exports

Exports from Ghana

In 2022, exports of gingerbread from Ghana rose sharply to X tons, surging by 6% compared with 2021. Overall, exports, however, saw a drastic downturn. The most prominent rate of growth was recorded in 2018 with an increase of 164%. The exports peaked at X tons in 2013; however, from 2014 to 2022, the exports stood at a somewhat lower figure.

In value terms, gingerbread exports expanded rapidly to $X in 2022. Over the period under review, exports, however, faced a abrupt contraction. The most prominent rate of growth was recorded in 2018 with an increase of 186%. Over the period under review, the exports attained the maximum at $X in 2012; however, from 2013 to 2022, the exports remained at a lower figure.

Exports by Country

Cote d'Ivoire (X tons) was the main destination for gingerbread exports from Ghana, with a 76% share of total exports. Moreover, gingerbread exports to Cote d'Ivoire exceeded the volume sent to the second major destination, the United States (X kg), threefold.

From 2012 to 2022, the average annual growth rate of volume to Cote d'Ivoire amounted to -4.2%. Exports to the other major destinations recorded the following average annual rates of exports growth: the United States (-17.8% per year) and the UK (-37.9% per year).

In value terms, Cote d'Ivoire ($X) remains the key foreign market for gingerbread exports from Ghana, comprising 68% of total exports. The second position in the ranking was held by the United States ($X), with a 31% share of total exports.

From 2012 to 2022, the average annual growth rate of value to Cote d'Ivoire amounted to -2.9%. Exports to the other major destinations recorded the following average annual rates of exports growth: the United States (-12.5% per year) and the UK (-37.4% per year).

Export Prices by Country

In 2022, the average gingerbread export price amounted to $X per ton, flattening at the previous year. In general, export price indicated a measured expansion from 2012 to 2022: its price increased at an average annual rate of +3.1% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, gingerbread export price decreased by -9.5% against 2019 indices. The most prominent rate of growth was recorded in 2019 when the average export price increased by 55% against the previous year. As a result, the export price reached the peak level of $X per ton. From 2020 to 2022, the average export prices remained at a lower figure.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was the United States ($X per ton), while the average price for exports to the UK ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Germany (+265.5%), while the prices for the other major destinations experienced more modest paces of growth.

Gingerbread Imports

Imports into Ghana

Gingerbread imports into Ghana soared to X tons in 2022, picking up by 62% on 2021 figures. Overall, imports, however, saw a deep contraction. The most prominent rate of growth was recorded in 2020 when imports increased by 345% against the previous year. Imports peaked at X tons in 2013; however, from 2014 to 2022, imports failed to regain momentum.

In value terms, gingerbread imports skyrocketed to $X in 2022. Over the period under review, imports, however, showed a slight descent. The pace of growth appeared the most rapid in 2020 when imports increased by 351%. Imports peaked at $X in 2013; however, from 2014 to 2022, imports remained at a lower figure.

Imports by Country

In 2022, China (X tons) constituted the largest supplier of gingerbread to Ghana, accounting for a 78% share of total imports. Moreover, gingerbread imports from China exceeded the figures recorded by the second-largest supplier, the UK (X kg), tenfold. The third position in this ranking was taken by South Africa (X kg), with a 5% share.

From 2012 to 2022, the average annual growth rate of volume from China stood at +56.4%. The remaining supplying countries recorded the following average annual rates of imports growth: the UK (-13.7% per year) and South Africa (+22.8% per year).

In value terms, China ($X), South Africa ($X) and the UK ($X) constituted the largest gingerbread suppliers to Ghana, with a combined 60% share of total imports.

In terms of the main suppliers, China, with a CAGR of +54.4%, recorded the highest growth rate of the value of imports, over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

The average gingerbread import price stood at $X per ton in 2022, shrinking by -8.6% against the previous year. In general, import price indicated resilient growth from 2012 to 2022: its price increased at an average annual rate of +5.0% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, gingerbread import price increased by +60.9% against 2016 indices. The pace of growth appeared the most rapid in 2013 an increase of 38%. Over the period under review, average import prices attained the peak figure at $X per ton in 2021, and then contracted in the following year.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was the United States ($X per ton), while the price for China ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by the United States (+35.5%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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