Ghana: Confectionery Market 2024

Confectionery Market Size in Ghana

The Ghanian confectionery market surged to $X in 2022, increasing by X% against the previous year. In general, the total consumption indicated a modest increase 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. Based on 2022 figures, consumption decreased by X% against 2018 indices. As a result, consumption reached the peak level of $X. From 2015 to 2022, the growth of the market remained at a lower figure.

Confectionery Production in Ghana

In value terms, confectionery production expanded slightly to $X in 2022 estimated in export price. Overall, production posted a resilient increase. The pace of growth was the most pronounced in 2018 with an increase of X% against the previous year. Over the period under review, production reached the maximum level at $X in 2020; however, from 2021 to 2022, production remained at a lower figure.

Confectionery Exports

Exports from Ghana

In 2022, after four years of growth, there was significant decline in shipments abroad of confectionery, when their volume decreased by X% to X tons. Over the period under review, exports, however, posted a resilient expansion. The pace of growth appeared the most rapid in 2018 with an increase of X% against the previous year. The exports peaked at X tons in 2021, and then declined in the following year.

In value terms, confectionery exports contracted to $X in 2022. In general, exports, however, continue to indicate a buoyant expansion. The pace of growth appeared the most rapid in 2018 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 fell in the following year.

Exports by Country

The Netherlands (X tons), the United States (X tons) and France (X tons) were the main destinations of confectionery exports from Ghana, with a combined X% share of total exports. Poland, Spain, Germany, China, Nigeria, Japan, Malaysia, Estonia, Turkey and India lagged somewhat behind, together accounting for a further X%.

From 2012 to 2022, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by Nigeria (with a CAGR of X%), while the other leaders experienced more modest paces of growth.

In value terms, the Netherlands ($X), the United States ($X) and France ($X) constituted the largest markets for confectionery exported from Ghana worldwide, together comprising X% of total exports. Poland, Germany, Spain, Nigeria, Japan, China, Turkey, India, Estonia and Malaysia lagged somewhat behind, together accounting for a further X%.

Among the main countries of destination, Nigeria, with a CAGR of X%, saw the highest growth rate of 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 2022, the average confectionery export price amounted to $X per ton, falling by X% against the previous year. Overall, the export price, however, showed a relatively flat trend pattern. The most prominent rate of growth was recorded in 2020 an increase of X%. Over the period under review, the average export prices reached the peak figure at $X per ton in 2016; however, from 2017 to 2022, the export prices failed to regain momentum.

There were significant differences in the average prices for the major external markets. In 2022, amid the top suppliers, the country with the highest price was France ($X per ton), while the average price for exports to China ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to France (X%), while the prices for the other major destinations experienced more modest paces of growth.

Confectionery Imports

Imports into Ghana

In 2022, overseas purchases of confectionery decreased by X% to X tons, falling for the second consecutive year after six years of growth. Overall, imports, however, showed a noticeable increase. The pace of growth was the most pronounced in 2013 with an increase of X% against the previous year. Over the period under review, imports attained the maximum at X tons in 2020; however, from 2021 to 2022, imports remained at a lower figure.

In value terms, confectionery imports dropped markedly to $X in 2022. Over the period under review, total imports indicated pronounced 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 growth pace was the most rapid in 2013 when imports increased by X% against the previous year. Imports peaked at $X in 2021, and then declined markedly in the following year.

Imports by Country

China (X tons), India (X tons) and Turkey (X tons) were the main suppliers of confectionery imports to Ghana, with a combined X% share of total imports. The United Arab Emirates, Brazil, Nigeria, Pakistan and Cote d'Ivoire lagged somewhat behind, together accounting for a further X%.

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

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

From 2012 to 2022, the average annual rate of growth in terms of value from China amounted to X%. The remaining supplying countries recorded the following average annual rates of imports growth: Turkey (X% per year) and India (X% per year).

Import Prices by Country

In 2022, the average confectionery import price amounted to $X per ton, growing by X% against the previous year. Over the period under review, the import price, however, continues to indicate a relatively flat trend pattern. The most prominent rate of growth was recorded in 2013 an increase of X% against the previous year. The import price peaked at $X per ton in 2016; however, from 2017 to 2022, import prices stood at a somewhat lower figure.

There were significant differences in the average prices amongst the major supplying countries. In 2022, amid the top importers, the country with the highest price was China ($X per ton), while the price for Cote d'Ivoire ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by the United Arab Emirates (X%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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