Ghana: Market for Gingerbread, Sweet Biscuits and Waffles 2024

Market Size for Gingerbread, Sweet Biscuits and Waffles in Ghana

The Ghanian market for gingerbread, sweet biscuits and waffles reached $X in 2022, remaining stable against the previous year. In general, consumption showed a relatively flat trend pattern. Gingerbread, sweet biscuit and waffle consumption peaked at $X in 2020; however, from 2021 to 2022, consumption stood at a somewhat lower figure.

Production of Gingerbread, Sweet Biscuits and Waffles in Ghana

In value terms, gingerbread, sweet biscuit and waffle production expanded modestly to $X in 2022 estimated in export price. Over the period under review, production recorded a relatively flat trend pattern. The pace of growth was the most pronounced in 2015 when the production volume increased by 18%. As a result, production attained the peak level of $X. From 2016 to 2022, production growth failed to regain momentum.

Exports of Gingerbread, Sweet Biscuits and Waffles

Exports from Ghana

In 2022, the amount of gingerbread, sweet biscuits and waffles exported from Ghana dropped rapidly to X tons, with a decrease of -15.5% compared with 2021 figures. Over the period under review, exports, however, enjoyed a strong increase. The pace of growth appeared the most rapid in 2014 with an increase of 78%. Over the period under review, the exports reached the peak figure at X tons in 2018; however, from 2019 to 2022, the exports failed to regain momentum.

In value terms, gingerbread, sweet biscuit and waffle exports shrank sharply to $X in 2022. In general, exports saw a relatively flat trend pattern. The growth pace was the most rapid in 2014 with an increase of 84% against the previous year. Over the period under review, the exports hit record highs at $X in 2018; however, from 2019 to 2022, the exports remained at a lower figure.

Exports by Country

Togo (X tons) was the main destination for gingerbread, sweet biscuit and waffle exports from Ghana, accounting for a 46% share of total exports. Moreover, gingerbread, sweet biscuit and waffle exports to Togo exceeded the volume sent to the second major destination, Burkina Faso (X tons), twofold. The third position in this ranking was taken by Niger (X tons), with a 15% share.

From 2012 to 2022, the average annual rate of growth in terms of volume to Togo totaled +54.8%. Exports to the other major destinations recorded the following average annual rates of exports growth: Burkina Faso (+21.6% per year) and Niger (+36.1% per year).

In value terms, the largest markets for gingerbread, sweet biscuit and waffle exported from Ghana were Togo ($X), Burkina Faso ($X) and Niger ($X), together comprising 65% of total exports.

Among the main countries of destination, Togo, with a CAGR of +60.4%, saw the highest rates of growth with regard to 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

The average export price for gingerbread, sweet biscuits and waffles stood at $X per ton in 2022, leveling off at the previous year. Overall, the export price continues to indicate a abrupt descent. The growth pace was the most rapid in 2018 an increase of 14% against the previous year. The export price peaked at $X per ton in 2012; however, from 2013 to 2022, the export prices remained at a lower figure.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Nigeria ($X per ton), while the average price for exports to Togo ($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 Nigeria (+14.7%), while the prices for the other major destinations experienced more modest paces of growth.

Imports of Gingerbread, Sweet Biscuits and Waffles

Imports into Ghana

In 2022, gingerbread, sweet biscuit and waffle imports into Ghana shrank significantly to X tons, waning by -16.4% on 2021 figures. Overall, imports recorded a deep contraction. The most prominent rate of growth was recorded in 2021 when imports increased by 38%. Imports peaked at X tons in 2012; however, from 2013 to 2022, imports failed to regain momentum.

In value terms, gingerbread, sweet biscuit and waffle imports fell sharply to $X in 2022. Over the period under review, imports showed a abrupt decline. The growth pace was the most rapid in 2021 when imports increased by 51%. Over the period under review, imports attained the peak figure at $X in 2013; however, from 2014 to 2022, imports failed to regain momentum.

Imports by Country

Morocco (X tons), India (X tons) and Thailand (X tons) were the main suppliers of gingerbread, sweet biscuit and waffle imports to Ghana, with a combined 55% share of total imports.

From 2012 to 2022, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by Morocco (with a CAGR of +47.6%), while imports for the other leaders experienced more modest paces of growth.

In value terms, the largest gingerbread, sweet biscuit and waffle suppliers to Ghana were Sri Lanka ($X), India ($X) and the UK ($X), together accounting for 48% of total imports. Thailand, Turkey, Kazakhstan, Nigeria, Morocco, Malaysia, China, Yemen, Argentina and Belgium lagged somewhat behind, together accounting for a further 36%.

Morocco, with a CAGR of +37.7%, recorded the highest rates of growth with regard to the value of imports, among the main suppliers over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

The average import price for gingerbread, sweet biscuits and waffles stood at $X per ton in 2022, therefore, remained relatively stable against the previous year. Over the period from 2012 to 2022, it increased at an average annual rate of +1.1%. The most prominent rate of growth was recorded in 2020 an increase of 46%. The import price peaked at $X per ton in 2021, and then dropped modestly in the following year.

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 Belgium ($X per ton), while the price for Argentina ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Belgium (+18.5%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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