Report Update Nov 1, 2024

Ghana - Candles and Tapers - Market Analysis, Forecast, Size, Trends and Insights

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Ghana: Candles And Tapers Market 2024

Candles And Tapers Market Size in Ghana

In 2021, the Ghanian candles and tapers market increased by 29% to $X for the first time since 2018, thus ending a two-year declining trend. Overall, consumption, however, recorded a noticeable contraction. Over the period under review, the market hit record highs at $X in 2014; however, from 2015 to 2021, consumption remained at a lower figure.

Candles And Tapers Exports

Exports from Ghana

In 2021, approx. X kg of candles and tapers were exported from Ghana; waning by -86.9% against the previous year's figure. Over the period under review, exports showed a sharp slump. The pace of growth was the most pronounced in 2020 when exports increased by 1,058%. The exports peaked at X tons in 2014; however, from 2015 to 2021, the exports stood at a somewhat lower figure.

In value terms, candles and tapers exports contracted notably to $X in 2021. Overall, exports faced a significant decrease. The pace of growth was the most pronounced in 2020 with an increase of 1,195%. Over the period under review, the exports reached the maximum at $X in 2012; however, from 2013 to 2021, the exports remained at a lower figure.

Exports by Country

Niger (X kg) was the main destination for candles and tapers exports from Ghana, with a 90% share of total exports. Moreover, candles and tapers exports to Niger exceeded the volume sent to the second major destination, South Africa (X kg), more than tenfold.

From 2012 to 2021, the average annual rate of growth in terms of volume to Niger was relatively modest. Exports to the other major destinations recorded the following average annual rates of exports growth: South Africa (+45.5% per year) and Switzerland (+41.7% per year).

In value terms, Niger ($X) emerged as the key foreign market for candles and tapers exports from Ghana, comprising 66% of total exports. The second position in the ranking was held by South Africa ($X), with a 33% share of total exports.

From 2012 to 2021, the average annual rate of growth in terms of value to Niger was relatively modest. Exports to the other major destinations recorded the following average annual rates of exports growth: South Africa (+98.0% per year) and Switzerland (-63.4% per year).

Export Prices by Country

The average candles and tapers export price stood at $X per ton in 2021, picking up by 86% against the previous year. Over the period under review, the export price showed a resilient increase. As a result, the export price reached the peak level and is likely to continue growth in the immediate term.

There were significant differences in the average prices for the major foreign markets. In 2021, amid the top suppliers, the country with the highest price was South Africa ($X per ton), while the average price for exports to Switzerland ($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 Togo (+50.7%), while the prices for the other major destinations experienced mixed trend patterns.

Candles And Tapers Imports

Imports into Ghana

In 2021, overseas purchases of candles and tapers increased by 20% to X tons for the first time since 2018, thus ending a two-year declining trend. Overall, imports, however, recorded a abrupt downturn. The growth pace was the most rapid in 2018 with an increase of 153% against the previous year. Over the period under review, imports reached the maximum at X tons in 2014; however, from 2015 to 2021, imports failed to regain momentum.

In value terms, candles and tapers imports skyrocketed to $X in 2021. Over the period under review, imports, however, saw a slight descent. The most prominent rate of growth was recorded in 2018 when imports increased by 136%. Imports peaked at $X in 2014; however, from 2015 to 2021, imports remained at a lower figure.

Imports by Country

In 2021, China (X tons) was the main candles and tapers supplier to Ghana, accounting for a approx. 99% share of total imports.

From 2012 to 2021, the average annual growth rate of volume from China totaled -5.4%.

In value terms, China ($X) constituted the largest supplier of candles and tapers to Ghana.

From 2012 to 2021, the average annual rate of growth in terms of value from China amounted to -1.5%.

Import Prices by Country

In 2021, the average candles and tapers import price amounted to $X per ton, with an increase of 11% against the previous year. Overall, import price indicated a moderate increase from 2012 to 2021: its price increased at an average annual rate of +4.4% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, candles and tapers import price increased by +30.9% against 2019 indices. The pace of growth appeared the most rapid in 2014 an increase of 70%. The import price peaked in 2021 and is likely to see steady growth in years to come.

As there is only one major supplying country, the average price level is determined by prices for China.

From 2012 to 2021, the rate of growth in terms of prices for China amounted to +4.1% per year.

Source: IndexBox Platform

Frequently Asked Questions (FAQ) :

What are the largest markets for candles and tapers in the world?

China constituted the country with the largest volume of candles and tapers consumption, accounting for 27% of total volume. Moreover, candles and tapers consumption in China exceeded the figures recorded by the second-largest consumer, India, threefold. The United States ranked third in terms of total consumption with a 9.8% share.

What are the largest producers of candles and tapers in the world?

China constituted the country with the largest volume of candles and tapers production, accounting for 31% of total volume. Moreover, candles and tapers production in China exceeded the figures recorded by the second-largest producer, India, threefold. Poland ranked third in terms of total production with a 6.7% share.

What are the leading suppliers of candles and tapers to Ghana?

In value terms, China constituted the largest supplier of candles and tapers to Ghana.

What is the average export price for candles and tapers in Ghana?

The average candles and tapers export price stood at $3,409 per ton in 2020, remaining stable against the previous year.

What is the average import price for candles and tapers in Ghana?

The average candles and tapers import price stood at $1,516 per ton in 2020, surging by 18% against the previous year.

This report provides an in-depth analysis of the candles and tapers market in Ghana. Within it, you will discover the latest data on market trends and opportunities by country, consumption, production and price developments, as well as the global trade (imports and exports). The forecast exhibits the market prospects through 2030.

Product coverage:

Prodcom 32995400 - Candles, tapers and the like (including night lights fitted with a float) (excluding anti-asthmatic candles, wax matches or vestas, sulphur-treated bands, wicks and candles)

Country coverage:

Ghana

Data coverage:

Market volume and value
Per Capita consumption
Forecast of the market dynamics in the medium term
Trade (exports and imports) in Ghana
Export and import prices
Market trends, drivers and restraints
Key market players and their profiles

Reasons to buy this report:

Take advantage of the latest data
Find deeper insights into current market developments
Discover vital success factors affecting the market

This report is designed for manufacturers, distributors, importers, and wholesalers, as well as for investors, consultants and advisors.

In this report, you can find information that helps you to make informed decisions on the following issues:

How to diversify your business and benefit from new market opportunities
How to load your idle production capacity
How to boost your sales on overseas markets
How to increase your profit margins
How to make your supply chain more sustainable
How to reduce your production and supply chain costs
How to outsource production to other countries
How to prepare your business for global expansion

While doing this research, we combine the accumulated expertise of our analysts and the capabilities of artificial intelligence. The AI-based platform, developed by our data scientists, constitutes the key working tool for business analysts, empowering them to discover deep insights and ideas from the marketing data.

1. INTRODUCTION

Making Data-Driven Decisions to Grow Your Business
1. REPORT DESCRIPTION
2. RESEARCH METHODOLOGY AND AI PLATFORM
3. DATA-DRIVEN DECISIONS FOR YOUR BUSINESS
4. GLOSSARY AND SPECIFIC TERMS
2. EXECUTIVE SUMMARY

A Quick Overview of Market Performance
1. KEY FINDINGS
2. MARKET TRENDS This Chapter is Available Only for the Professional Edition PRO
3. MARKET OVERVIEW

Understanding the Current State of The Market and Its Prospects
1. MARKET SIZE
2. MARKET STRUCTURE
3. TRADE BALANCE
4. PER CAPITA CONSUMPTION
5. MARKET FORECAST TO 2030
4. MOST PROMISING PRODUCT

Finding New Products to Diversify Your Business
This Chapter is Available Only for the Professional Edition PRO
1. TOP PRODUCTS TO DIVERSIFY YOUR BUSINESS
2. BEST-SELLING PRODUCTS
3. MOST CONSUMED PRODUCT
4. MOST TRADED PRODUCT
5. MOST PROFITABLE PRODUCT FOR EXPORT
5. MOST PROMISING SUPPLYING COUNTRIES

Choosing the Best Countries to Establish Your Sustainable Supply Chain
This Chapter is Available Only for the Professional Edition PRO
1. TOP COUNTRIES TO SOURCE YOUR PRODUCT
2. TOP PRODUCING COUNTRIES
3. TOP EXPORTING COUNTRIES
4. LOW-COST EXPORTING COUNTRIES
6. MOST PROMISING OVERSEAS MARKETS

Choosing the Best Countries to Boost Your Exports
This Chapter is Available Only for the Professional Edition PRO
1. TOP OVERSEAS MARKETS FOR EXPORTING YOUR PRODUCT
2. TOP CONSUMING MARKETS
3. UNSATURATED MARKETS
4. TOP IMPORTING MARKETS
5. MOST PROFITABLE MARKETS
7. PRODUCTION

The Latest Trends and Insights into The Industry
1. PRODUCTION VOLUME AND VALUE
8. IMPORTS
The Largest Import Supplying Countries
1. IMPORTS FROM 2012–2023
2. IMPORTS BY COUNTRY
3. IMPORT PRICES BY COUNTRY
9. EXPORTS
The Largest Destinations for Exports
1. EXPORTS FROM 2012–2023
2. EXPORTS BY COUNTRY
3. EXPORT PRICES BY COUNTRY
10. PROFILES OF MAJOR PRODUCERS

The Largest Producers on The Market and Their Profiles
This Chapter is Available Only for the Professional Edition PRO
LIST OF TABLES
1. Key Findings In 2023
2. Market Volume, In Physical Terms, 2012–2023
3. Market Value, 2012–2023
4. Per Capita Consumption In 2012-2023
5. Imports, In Physical Terms, By Country, 2012–2023
6. Imports, In Value Terms, By Country, 2012–2023
7. Import Prices, By Country Of Origin, 2012–2023
8. Exports, In Physical Terms, By Country, 2012–2023
9. Exports, In Value Terms, By Country, 2012–2023
10. Export Prices, By Country Of Destination, 2012–2023
LIST OF FIGURES
1. Market Volume, In Physical Terms, 2012–2023
2. Market Value, 2012–2023
3. Market Structure – Domestic Supply vs. Imports, In Physical Terms, 2012-2023
4. Market Structure – Domestic Supply vs. Imports, In Value Terms, 2012-2023
5. Trade Balance, In Physical Terms, 2012-2023
6. Trade Balance, In Value Terms, 2012-2023
7. Per Capita Consumption, 2012-2023
8. Market Volume Forecast to 2030
9. Market Value Forecast to 2030
10. Products: Market Size And Growth, By Type
11. Products: Average Per Capita Consumption, By Type
12. Products: Exports And Growth, By Type
13. Products: Export Prices And Growth, By Type
14. Production Volume And Growth
15. Exports And Growth
16. Export Prices And Growth
17. Market Size And Growth
18. Per Capita Consumption
19. Imports And Growth
20. Import Prices
21. Production, In Physical Terms, 2012–2023
22. Production, In Value Terms, 2012–2023
23. Imports, In Physical Terms, 2012–2023
24. Imports, In Value Terms, 2012–2023
25. Imports, In Physical Terms, By Country, 2023
26. Imports, In Physical Terms, By Country, 2012–2023
27. Imports, In Value Terms, By Country, 2012–2023
28. Import Prices, By Country Of Origin, 2012–2023
29. Exports, In Physical Terms, 2012–2023
30. Exports, In Value Terms, 2012–2023
31. Exports, In Physical Terms, By Country, 2023
32. Exports, In Physical Terms, By Country, 2012–2023
33. Exports, In Value Terms, By Country, 2012–2023
34. Export Prices, By Country Of Destination, 2012–2023