ECOWAS: Sweet Biscuit Market 2024

Sweet Biscuit Market Size in ECOWAS

In 2021, after two years of growth, there was significant decline in the ECOWAS sweet biscuit market, when its value decreased by -6% to $X. The market value increased at an average annual rate of +1.5% from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The level of consumption peaked at $X in 2017; however, from 2018 to 2021, consumption stood at a somewhat lower figure.

Sweet Biscuit Production in ECOWAS

In value terms, sweet biscuit production reduced to $X in 2021 estimated in export price. In general, production, however, recorded a relatively flat trend pattern. The most prominent rate of growth was recorded in 2014 with an increase of 42%. Over the period under review, production reached the peak level at $X in 2017; however, from 2018 to 2021, production failed to regain momentum.

Sweet Biscuit Exports

Exports in ECOWAS

In 2021, sweet biscuit exports in ECOWAS fell remarkably to X tons, reducing by -68.3% on the year before. Overall, exports continue to indicate a abrupt slump. The pace of growth appeared the most rapid in 2017 with an increase of 41%. As a result, the exports attained the peak of X tons. From 2018 to 2021, the growth of the exports remained at a lower figure.

In value terms, sweet biscuit exports fell dramatically to $X in 2021. In general, exports continue to indicate a deep setback. The most prominent rate of growth was recorded in 2017 when exports increased by 27% against the previous year. As a result, the exports attained the peak of $X. From 2018 to 2021, the growth of the exports failed to regain momentum.

Exports by Country

Ghana represented the key exporter of sweet biscuits in ECOWAS, with the volume of exports recording X tons, which was near 56% of total exports in 2021. Cote d'Ivoire (X tons) ranks second in terms of the total exports with a 13% share, followed by Nigeria (12%) and Senegal (11%). Togo (X tons) and Liberia (X tons) followed a long way behind the leaders.

From 2012 to 2021, average annual rates of growth with regard to sweet biscuit exports from Ghana stood at +7.8%. At the same time, Liberia (+56.4%) displayed positive paces of growth. Moreover, Liberia emerged as the fastest-growing exporter exported in ECOWAS, with a CAGR of +56.4% from 2012-2021. By contrast, Nigeria (-5.7%), Togo (-14.5%), Cote d'Ivoire (-14.7%) and Senegal (-24.0%) illustrated a downward trend over the same period. From 2012 to 2021, the share of Ghana, Nigeria and Liberia increased by +44, +4.2 and +2.2 percentage points, respectively.

In value terms, Ghana ($X) emerged as the largest sweet biscuit supplier in ECOWAS, comprising 55% of total exports. The second position in the ranking was held by Nigeria ($X), with a 20% share of total exports. It was followed by Cote d'Ivoire, with a 9.7% share.

In Ghana, sweet biscuit exports remained relatively stable over the period from 2012-2021. In the other countries, the average annual rates were as follows: Nigeria (-14.6% per year) and Cote d'Ivoire (-16.0% per year).

Export Prices by Country

The export price in ECOWAS stood at $X per ton in 2021, rising by 26% against the previous year. Overall, the export price, however, showed a slight contraction. Over the period under review, the export prices attained the peak figure at $X per ton in 2012; however, from 2013 to 2021, the export prices stood at a somewhat lower figure.

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

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Togo (-0.1%), while the other leaders experienced a decline in the export price figures.

Sweet Biscuit Imports

Imports in ECOWAS

In 2021, supplies from abroad of sweet biscuits increased by 19% to X tons, rising for the second year in a row after two years of decline. Over the period under review, imports saw a relatively flat trend pattern. As a result, imports attained the peak and are likely to continue growth in the immediate term.

In value terms, sweet biscuit imports soared to $X in 2021. The total import value increased at an average annual rate of +1.0% over the period from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. As a result, imports attained the peak and are likely to continue growth in the immediate term.

Imports by Country

The purchases of the twelve major importers of sweet biscuits, namely Cote d'Ivoire, Ghana, Togo, Guinea, Senegal, Benin, Gambia, Niger, Burkina Faso, Mali, Liberia and Sierra Leone, represented more than two-thirds of total import.

From 2012 to 2021, the most notable rate of growth in terms of purchases, amongst the main importing countries, was attained by Togo (with a CAGR of +29.0%), while imports for the other leaders experienced more modest paces of growth.

In value terms, the largest sweet biscuit importing markets in ECOWAS were Cote d'Ivoire ($X), Ghana ($X) and Senegal ($X), with a combined 47% share of total imports. Guinea, Benin, Niger, Gambia, Mali, Liberia, Togo, Sierra Leone and Burkina Faso lagged somewhat behind, together comprising a further 42%.

In terms of the main importing countries, Togo, with a CAGR of +27.3%, recorded 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 2021, the import price in ECOWAS amounted to $X per ton, with an increase of 15% against the previous year. Over the period under review, the import price saw a relatively flat trend pattern. As a result, import price reached the peak level and is likely to continue growth in the immediate term.

There were significant differences in the average prices amongst the major importing countries. In 2021, the country with the highest price was Cote d'Ivoire ($X per ton), while Togo ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Cote d'Ivoire (+7.4%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform