Report Update Nov 1, 2024

Nigeria - Caramel - Market Analysis, Forecast, Size, Trends and Insights

Single report

Sent by email within 24h (Mon-Fri)

$599 Basic Edition

$2095 Professional Edition

What's the difference?

Subscription

Online access and download

from $350/month

Get instant access to more than 2 million reports, dashboards, and datasets on the IndexBox Platform.

View Pricing

Nigeria: Caramel Market 2022

Caramel Market Size in Nigeria

In 2020, the Nigerien caramel market increased by X% to $X, rising for the fourth consecutive year after three years of decline. Overall, consumption saw a remarkable increase. The pace of growth appeared the most rapid in 2008 when the market value increased by X% against the previous year. Caramel consumption peaked in 2020 and is likely to see steady growth in years to come.

Caramel Exports

Exports from Nigeria

In 2020, caramel exports from Nigeria surged to X tons, rising by X% on the previous year. Overall, exports, however, recorded a abrupt shrinkage. The pace of growth was the most pronounced in 2015 with an increase of X% y-o-y. Over the period under review, exports hit record highs at X tons in 2007; however, from 2008 to 2020, exports failed to regain the momentum.

In value terms, caramel exports skyrocketed to $X in 2020. In general, exports, however, continue to indicate a abrupt decrease. The growth pace was the most rapid in 2014 when exports increased by X% against the previous year. Exports peaked at $X in 2007; however, from 2008 to 2020, exports failed to regain the momentum.

Exports by Country

Niger (X kg), Japan (X kg) and South Africa (X kg) were the main destinations of caramel exports from Nigeria, together comprising X% of total exports.

From 2007 to 2020, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by South Africa, while exports for the other leaders experienced more modest paces of growth.

In value terms, Japan ($X) remains the key foreign market for caramel exports from Nigeria, comprising X% of total exports. The second position in the ranking was occupied by Niger ($X), with a X% share of total exports. It was followed by Botswana, with a X% share.

From 2007 to 2020, the average annual growth rate of value to Japan totaled -X%. Exports to the other major destinations recorded the following average annual rates of exports growth: Niger (+X% per year) and Botswana (-X% per year).

Export Prices by Country

The average caramel export price stood at $X per ton in 2020, which is down by -X% against the previous year. Over the period under review, the export price continues to indicate a perceptible slump. The growth pace was the most rapid in 2019 an increase of X% against the previous year. The export price peaked at $X per ton in 2012; however, from 2013 to 2020, export prices failed to regain the momentum.

Prices varied noticeably by the country of destination; the country with the highest price was Botswana ($X per ton), while the average price for exports to South Africa ($X per ton) was amongst the lowest.

From 2007 to 2020, the most notable rate of growth in terms of prices was recorded for supplies to Botswana, while the prices for the other major destinations experienced more modest paces of growth.

Caramel Imports

Imports into Nigeria

In 2020, overseas purchases of caramel increased by X% to X tons, rising for the third year in a row after four years of decline. Over the period under review, imports continue to indicate strong growth. The most prominent rate of growth was recorded in 2008 when imports increased by X% year-to-year. Over the period under review, imports hit record highs in 2020 and are expected to retain growth in years to come.

In value terms, caramel imports surged to $X in 2020. Overall, imports saw strong growth. The growth pace was the most rapid in 2008 with an increase of X% y-o-y. Over the period under review, imports attained the peak figure in 2020 and are likely to continue growth in the immediate term.

Imports by Country

In 2020, China (X tons) constituted the largest supplier of caramel to Nigeria, with a X% share of total imports. Moreover, caramel imports from China exceeded the figures recorded by the second-largest supplier, France (X tons), twofold. Swaziland (X tons) ranked third in terms of total imports with a X% share.

From 2007 to 2020, the average annual rate of growth in terms of volume from China totaled +X%. The remaining supplying countries recorded the following average annual rates of imports growth: France (+X% per year) and Swaziland (+X% per year).

In value terms, China ($X), Swaziland ($X) and France ($X) constituted the largest caramel suppliers to Nigeria, with a combined X% share of total imports. India, the UK, the United Arab Emirates and South Korea lagged somewhat behind, together accounting for a further X Korea 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 caramel import price stood at $X per ton in 2020, increasing by X% against the previous year. Over the period under review, the import price, however, showed a relatively flat trend pattern. The pace of growth appeared the most rapid in 2009 when the average import price increased by X% against the previous year. As a result, import price attained the peak level of $X per ton. from 2010 to 2020, the growth in terms of the average import prices remained at a somewhat lower figure.

There were significant differences in the average prices amongst the major supplying countries. In 2020, the country with the highest price was Swaziland ($X per ton), while the price for South Korea ($X per ton) was amongst the lowest.

From 2007 to 2020, the most notable rate of growth in terms of prices was attained by Swaziland, while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

Frequently Asked Questions (FAQ) :

What are the largest markets for caramel in the world?

China remains the largest caramel consuming country worldwide, comprising approx. 31% of total volume. Moreover, caramel 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 5.6% share.

What are the largest producers of caramel in the world?

China remains the largest caramel producing country worldwide, accounting for 29% of total volume. Moreover, caramel production in China exceeded the figures recorded by the second-largest producer, Thailand, twofold. The third position in this ranking was occupied by India, with a 9.2% share.

What are the leading suppliers of caramel to Nigeria?

In value terms, the largest caramel suppliers to Nigeria were China, Swaziland and France, with a combined 67% share of total imports. India, the UK, the United Arab Emirates and South Korea lagged somewhat behind, together accounting for a further 17%.

What are the leading importers of caramel from Nigeria?

In value terms, Japan remains the key foreign market for caramel exports from Nigeria, comprising 75% of total exports. The second position in the ranking was occupied by Niger $290), with a 10% share of total exports. It was followed by Botswana, with an 8.2% share.

What is the average export price for caramel in Nigeria?

In 2020, the average caramel export price amounted to $4,930 per ton, picking up by 80% against the previous year.

What is the average import price for caramel in Nigeria?

The average caramel import price stood at $929 per ton in 2020, picking up by 4.5% against the previous year.

This report provides an in-depth analysis of the caramel market in Nigeria. 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 2025.

Product coverage:

Prodcom 10891910 - Caramel

Country coverage:

Nigeria

Data coverage:

Market volume and value
Per Capita consumption
Forecast of the market dynamics in the medium term
Trade (exports and imports) in Nigeria
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