ECOWAS: Market for Candies, Sweets, and Nonchocolate Confectionery 2024

Market Size for Candies, Sweets, and Nonchocolate Confectionery in ECOWAS

The ECOWAS market for candies, sweets, and nonchocolate confectionery fell to $X in 2022, declining by -3% against the previous year. The market value increased at an average annual rate of +2.7% from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. Over the period under review, the market attained the peak level at $X in 2019; however, from 2020 to 2022, consumption stood at a somewhat lower figure.

Production of Candies, Sweets, and Nonchocolate Confectionery in ECOWAS

In value terms, candy, sweets, and nonchocolate confectionery production shrank to $X in 2022 estimated in export price. The total output value increased at an average annual rate of +1.6% over the period 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 2014 when the production volume increased by 24%. The level of production peaked at $X in 2016; however, from 2017 to 2022, production failed to regain momentum.

Exports of Candies, Sweets, and Nonchocolate Confectionery

Exports in ECOWAS

In 2022, after five years of growth, there was significant decline in overseas shipments of candies, sweets, and nonchocolate confectionery, when their volume decreased by -13.7% to X tons. Overall, exports, however, continue to indicate a moderate increase. The growth pace was the most rapid in 2021 when exports increased by 25% against the previous year. As a result, the exports attained the peak of X tons, and then shrank in the following year.

In value terms, candy, sweets, and nonchocolate confectionery exports rose significantly to $X in 2022. Over the period under review, exports continue to indicate a relatively flat trend pattern. The most prominent rate of growth was recorded in 2021 when exports increased by 26%. The level of export peaked at $X in 2013; however, from 2014 to 2022, the exports stood at a somewhat lower figure.

Exports by Country

Togo prevails in exports structure, recording X tons, which was near 91% of total exports in 2022. It was distantly followed by Cote d'Ivoire (X tons), making up a 5.1% share of total exports. The following exporters - Nigeria (X tons) and Senegal (X tons) - each resulted at a 3.8% share of total exports.

Togo was also the fastest-growing in terms of the candies, sweets, and nonchocolate confectionery exports, with a CAGR of +12.3% from 2012 to 2022. Senegal experienced a relatively flat trend pattern. Cote d'Ivoire (-11.8%) and Nigeria (-14.4%) illustrated a downward trend over the same period. From 2012 to 2022, the share of Togo increased by +48 percentage points. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Togo ($X) remains the largest candy, sweets, and nonchocolate confectionery supplier in ECOWAS, comprising 77% of total exports. The second position in the ranking was held by Cote d'Ivoire ($X), with a 16% share of total exports. It was followed by Senegal, with a 3.7% share.

In Togo, candy, sweets, and nonchocolate confectionery exports increased at an average annual rate of +13.0% over the period from 2012-2022. In the other countries, the average annual rates were as follows: Cote d'Ivoire (-9.5% per year) and Senegal (-0.9% per year).

Export Prices by Country

In 2022, the export price in ECOWAS amounted to $X per ton, surging by 28% against the previous year. In general, the export price, however, showed a perceptible reduction. The level of export peaked at $X per ton in 2013; however, 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 Cote d'Ivoire ($X per ton), while Nigeria ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Cote d'Ivoire (+2.6%), while the other leaders experienced mixed trends in the export price figures.

Imports of Candies, Sweets, and Nonchocolate Confectionery

Imports in ECOWAS

Candy, sweets, and nonchocolate confectionery imports shrank modestly to X tons in 2022, declining by -4% against the year before. Total imports indicated a buoyant increase from 2012 to 2022: its volume increased at an average annual rate of +8.0% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports increased by +81.6% against 2015 indices. The growth pace was the most rapid in 2013 with an increase of 50% against the previous year. Over the period under review, imports hit record highs at X tons in 2021, and then reduced slightly in the following year.

In value terms, candy, sweets, and nonchocolate confectionery imports reduced to $X in 2022. Total imports indicated a strong expansion from 2012 to 2022: its value increased at an average annual rate of +5.9% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports increased by +6.1% against 2020 indices. The growth pace was the most rapid in 2013 when imports increased by 49%. Over the period under review, imports attained the maximum at $X in 2021, and then dropped in the following year.

Imports by Country

In 2022, Nigeria (X tons), distantly followed by Burkina Faso (X tons), Cote d'Ivoire (X tons), Ghana (X tons), Niger (X tons), Senegal (X tons) and Togo (X tons) represented the largest importers of candies, sweets, and nonchocolate confectionery, together comprising 81% of total imports. Mali (X tons) took a relatively small share of total imports.

From 2012 to 2022, the most notable rate of growth in terms of purchases, amongst the main importing countries, was attained by Mali (with a CAGR of +26.7%), while imports for the other leaders experienced more modest paces of growth.

In value terms, the largest candy, sweets, and nonchocolate confectionery importing markets in ECOWAS were Nigeria ($X), Ghana ($X) and Cote d'Ivoire ($X), with a combined 55% share of total imports.

Among the main importing countries, Cote d'Ivoire, with a CAGR of +23.7%, saw the highest rates of growth with regard to 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

In 2022, the import price in ECOWAS amounted to $X per ton, reducing by -6.3% against the previous year. Over the period under review, the import price showed a mild curtailment. The most prominent rate of growth was recorded in 2014 an increase of 6.9% against the previous year. The level of import peaked at $X per ton in 2016; however, from 2017 to 2022, import prices remained at a 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 Senegal ($X per ton), while Burkina Faso ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Senegal (+5.2%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform