Western Africa: Chocolate And Confectionery Market 2024

Chocolate And Confectionery Market Size in Western Africa

The West African chocolate and confectionery market rose notably to $X in 2022, growing by X% against the previous year. The market value increased at an average annual rate of X% over the period from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. Over the period under review, the market attained the maximum level at $X in 2013; however, from 2014 to 2022, consumption stood at a somewhat lower figure.

Chocolate And Confectionery Production in Western Africa

In value terms, chocolate and confectionery production expanded slightly to $X in 2022 estimated in export price. The total output value increased at an average annual rate of X% from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The most prominent rate of growth was recorded in 2013 when the production volume increased by X%. As a result, production reached the peak level of $X. From 2014 to 2022, production growth failed to regain momentum.

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Chocolate And Confectionery Exports

Exports in Western Africa

After five years of growth, shipments abroad of chocolate and confectionery decreased by X% to X tons in 2022. Total exports indicated a strong expansion 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. The most prominent rate of growth was recorded in 2013 when exports increased by X% against the previous year. The volume of export peaked at X tons in 2021, and then declined remarkably in the following year.

In value terms, chocolate and confectionery exports fell rapidly to $X in 2022. Total exports indicated buoyant 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. The pace of growth was the most pronounced in 2013 with an increase of X% against the previous year. Over the period under review, the exports reached the maximum at $X in 2021, and then dropped significantly in the following year.

Exports by Country

Ghana (X tons) and Cote d'Ivoire (X tons) dominates exports structure, together making up X% of total exports. Nigeria (X tons) held a little share of total exports.

From 2012 to 2022, the most notable rate of growth in terms of shipments, amongst the main exporting countries, was attained by Ghana (with a CAGR of X%), while the other leaders experienced mixed trends in the exports figures.

In value terms, Ghana ($X), Cote d'Ivoire ($X) and Nigeria ($X) were the countries with the highest levels of exports in 2022, with a combined X% share of total exports.

Ghana, with a CAGR of X%, recorded the highest rates of growth with regard to the value of exports, in terms of the main exporting countries over the period under review, while shipments for the other leaders experienced mixed trends in the exports figures.

Export Prices by Country

The export price in Western Africa stood at $X per ton in 2022, almost unchanged from the previous year. Over the period under review, the export price saw a relatively flat trend pattern. The pace of growth appeared the most rapid in 2020 an increase of X% against the previous year. The level of export peaked at $X per ton in 2016; however, from 2017 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 ($X per ton), while Nigeria ($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 (X%), while the other leaders experienced mixed trends in the export price figures.

Chocolate And Confectionery Imports

Imports in Western Africa

In 2022, approx. X tons of chocolate and confectionery were imported in Western Africa; waning by X% against the previous year's figure. Total imports indicated notable 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. The pace of growth appeared the most rapid in 2013 when imports increased by X%. The volume of import peaked at X tons in 2021, and then fell in the following year.

In value terms, chocolate and confectionery imports shrank to $X in 2022. Total imports indicated resilient 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. The pace of growth appeared the most rapid in 2013 when imports increased by X%. Over the period under review, imports attained the maximum at $X in 2021, and then contracted in the following year.

Imports by Country

In 2022, Nigeria (X tons) was the major importer of chocolate and confectionery, mixing up X% of total imports. Senegal (X tons) held a X% share (based on physical terms) of total imports, which put it in second place, followed by Ghana (X%), Mali (X%), Guinea (X%) and Cote d'Ivoire (X%). Togo (X tons), Sierra Leone (X tons), Burkina Faso (X tons), Gambia (X tons), Benin (X tons), Mauritania (X tons) and Liberia (X tons) held a little share of total imports.

Imports into Nigeria increased at an average annual rate of X% from 2012 to 2022. At the same time, Mali (X%), Burkina Faso (X%), Sierra Leone (X%), Cote d'Ivoire (X%), Liberia (X%), Gambia (X%) and Ghana (X%) displayed positive paces of growth. Moreover, Mali emerged as the fastest-growing importer imported in Western Africa, with a CAGR of X% from 2012-2022. Guinea, Togo and Senegal experienced a relatively flat trend pattern. By contrast, Mauritania (X%) and Benin (X%) illustrated a downward trend over the same period. While the share of Nigeria (X p.p.), Mali (X p.p.) and Burkina Faso (X p.p.) increased significantly in terms of the total imports from 2012-2022, the share of Togo (X p.p.), Guinea (X p.p.), Ghana (X p.p.), Mauritania (X p.p.), Benin (X p.p.) and Senegal (X p.p.) displayed negative dynamics. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Nigeria ($X) constitutes the largest market for imported chocolate and confectionery in Western Africa, comprising X% of total imports. The second position in the ranking was held by Ghana ($X), with a X% share of total imports. It was followed by Senegal, with a X% share.

In Nigeria, chocolate and confectionery imports expanded at an average annual rate of X% over the period from 2012-2022. The remaining importing countries recorded the following average annual rates of imports growth: Ghana (X% per year) and Senegal (X% per year).

Import Prices by Country

The import price in Western Africa stood at $X per ton in 2022, surging by X% against the previous year. Over the period from 2012 to 2022, it increased at an average annual rate of X%. The growth pace was the most rapid in 2013 an increase of X% against the previous year. As a result, import price attained the peak level of $X per ton. From 2014 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 Sierra Leone ($X per ton), while Burkina Faso ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Togo (X%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform

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