Nigeria: Confectionery Market 2022

Confectionery Market Size in Nigeria

The nigerien confectionery market expanded rapidly to $X in 2021, with an increase of X% against the previous year. this figure reflects the total revenues of producers and importers (excluding logistics costs, retail marketing costs, and retailers' margins, which will be included in the final consumer price).In general, the total consumption indicated a tangible increase from 2012 to 2021: its value increased at an average annual rate of +X% over the last nine years. the trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. based on 2021 figures, consumption decreased by -X% against 2017 indices.Confectionery consumption peaked at $X in 2017; however, from 2018 to 2021, consumption stood at a somewhat lower figure.

Confectionery Production in Nigeria

In value terms, confectionery production amounted to $X in 2021 estimated in export price.Over the period under review, the total production indicated a tangible expansion from 2012 to 2021: its value increased at an average annual rate of +X% over the last nine years. the trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. based on 2021 figures, production decreased by -X% against 2017 indices.The most prominent rate of growth was recorded in 2016 when the production volume increased by X% against the previous year.Confectionery production peaked at $X in 2017; however, from 2018 to 2021, production remained at a lower figure.

Confectionery Exports

Exports from Nigeria

In 2021, approx. X tons of confectionery were exported from nigeria; increasing by X% on the previous year's figure.In general, exports, however, showed a perceptible descent.The pace of growth appeared the most rapid in 2013 when exports increased by X exports peaked at X tons in 2014; however, from 2015 to 2021, the exports remained at a lower figure.

In value terms, confectionery exports expanded sharply to $X in 2021.Over the period under review, exports, however, saw a abrupt slump.The pace of growth was the most pronounced in 2013 with an increase of X the period under review, the exports reached the peak figure at $X in 2014; however, from 2015 to 2021, the exports remained at a lower figure.

Exports by Country

The netherlands (X tons), Germany (X tons) and Spain (X tons) were the main destinations of confectionery exports from Nigeria, together comprising X% of total exports. France, vietnam and ghana lagged somewhat behind, together comprising a further X 2012 to 2021, the biggest increases were in Vietnam (with a CAGR of +X%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, Germany ($X), the Netherlands ($X) and France ($X) appeared to be the largest markets for confectionery exported from Nigeria worldwide, together comprising X% of total exports. These countries were followed by Spain, Ghana and Vietnam, which together accounted for a further X terms of the main countries of destination, Vietnam, with a CAGR of +X%, recorded the highest rates of growth with regard to the value of exports, over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

In 2021, the average confectionery export price amounted to $X per ton, declining by -X% against the previous year. Overall, the export price saw a relatively flat trend pattern. The pace of growth was the most pronounced in 2015 when the average export price increased by X%. The export price peaked at $X per ton in 2016; however, from 2017 to 2021, the export prices remained at a lower figure.

There were significant differences in the average prices for the major overseas markets. In 2021, the country with the highest price was France ($X per ton), while the average price for exports to Vietnam ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to Ghana (+X%), while the prices for the other major destinations experienced mixed trend patterns.

Confectionery Imports

Imports into Nigeria

In 2021, supplies from abroad of confectionery increased by X% to X tons, rising for the fifth year in a row after two years of decline.Overall, imports enjoyed strong growth.The pace of growth was the most pronounced in 2013 with an increase of X the period under review, imports reached the peak figure in 2021 and are expected to retain growth in years to come.

In value terms, confectionery imports totaled $X in 2021.Over the period under review, imports saw a prominent increase.The most prominent rate of growth was recorded in 2013 when imports increased by X peaked in 2021 and are likely to see steady growth in the immediate term.

Imports by Country

In 2021, Ghana (X tons) constituted the largest supplier of confectionery to Nigeria, accounting for a X% share of total imports. Moreover, confectionery imports from Ghana exceeded the figures recorded by the second-largest supplier, Togo (X tons), threefold. India (X tons) ranked third in terms of total imports with a X% share.

From 2012 to 2021, the average annual rate of growth in terms of volume from Ghana amounted to +X%. The remaining supplying countries recorded the following average annual rates of imports growth: Togo (+X% per year) and India (-X% per year).

In value terms, Ghana ($X) constituted the largest supplier of confectionery to Nigeria, comprising X% of total imports. The second position in the ranking was taken by China ($X), with a X% share of total imports. It was followed by India, with a X% share.

From 2012 to 2021, the average annual rate of growth in terms of value from Ghana totaled +X%. The remaining supplying countries recorded the following average annual rates of imports growth: China (+X% per year) and India (-X% per year).

Import Prices by Country

In 2021, the average confectionery import price amounted to $X per ton, declining by -X% against the previous year. Overall, the import price saw a perceptible slump. The growth pace was the most rapid in 2018 when the average import price increased by X% against the previous year. The import price peaked at $X per ton in 2012; however, from 2013 to 2021, import prices stood at a somewhat lower figure.

There were significant differences in the average prices amongst the major supplying countries. In 2021, the country with the highest price was the Netherlands ($X per ton), while the price for Togo ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by China (+X%), while the prices for the other major suppliers experienced mixed trend patterns.

Source: IndexBox Market Intelligence Platform

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