Nigeria: Gingerbread Market 2024

Gingerbread Market Size in Nigeria

The Nigerien gingerbread market dropped slightly to $X in 2022, approximately reflecting the previous year. Over the period under review, consumption continues to indicate buoyant growth. Gingerbread consumption peaked at $X in 2019; however, from 2020 to 2022, consumption remained at a lower figure.

Gingerbread Production in Nigeria

In value terms, gingerbread production reduced slightly to $X in 2022 estimated in export price. Over the period under review, production saw prominent growth. The pace of growth appeared the most rapid in 2013 when the production volume increased by 52%. Over the period under review, production attained the maximum level at $X in 2019; however, from 2020 to 2022, production failed to regain momentum.

Gingerbread Exports

Exports from Nigeria

In 2022, overseas shipments of gingerbread decreased by -34.4% to X tons for the first time since 2016, thus ending a five-year rising trend. Over the period under review, exports, however, posted perceptible growth. The most prominent rate of growth was recorded in 2014 when exports increased by 436%. As a result, the exports attained the peak of X tons. From 2015 to 2022, the growth of the exports failed to regain momentum.

In value terms, gingerbread exports dropped markedly to $X in 2022. In general, exports saw a pronounced decrease. The most prominent rate of growth was recorded in 2014 when exports increased by 330% against the previous year. As a result, the exports attained the peak of $X. From 2015 to 2022, the growth of the exports failed to regain momentum.

Exports by Country

The United States (X tons) was the main destination for gingerbread exports from Nigeria, with a 67% share of total exports. Moreover, gingerbread exports to the United States exceeded the volume sent to the second major destination, Saudi Arabia (X tons), threefold. Singapore (X tons) ranked third in terms of total exports with a 5.2% share.

From 2012 to 2022, the average annual rate of growth in terms of volume to the United States totaled +75.4%. Exports to the other major destinations recorded the following average annual rates of exports growth: Saudi Arabia (+60.5% per year) and Singapore (-16.7% per year).

In value terms, the United States ($X) remains the key foreign market for gingerbread exports from Nigeria, comprising 78% of total exports. The second position in the ranking was taken by Saudi Arabia ($X), with a 16% share of total exports. It was followed by Germany, with a 4.2% share.

From 2012 to 2022, the average annual growth rate of value to the United States totaled +60.2%. Exports to the other major destinations recorded the following average annual rates of exports growth: Saudi Arabia (+11.0% per year) and Germany (+1.5% per year).

Export Prices by Country

In 2022, the average gingerbread export price amounted to $X per ton, rising by 4% against the previous year. In general, the export price, however, continues to indicate a deep reduction. The pace of growth was the most pronounced in 2013 when the average export price increased by 42%. As a result, the export price reached the peak level of $X per ton. From 2014 to 2022, the average export prices remained at a somewhat lower figure.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Germany ($X per ton), while the average price for exports to Singapore ($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 China (+2,168.5%), while the prices for the other major destinations experienced more modest paces of growth.

Gingerbread Imports

Imports into Nigeria

In 2022, supplies from abroad of gingerbread decreased by -17% to X tons for the first time since 2017, thus ending a four-year rising trend. Over the period under review, imports, however, recorded a remarkable increase. The growth pace was the most rapid in 2021 with an increase of 268% against the previous year. As a result, imports attained the peak of X tons, and then fell sharply in the following year.

In value terms, gingerbread imports reduced markedly to $X in 2022. In general, imports showed a abrupt descent. The most prominent rate of growth was recorded in 2021 with an increase of 154% against the previous year. Over the period under review, imports attained the peak figure at $X in 2012; however, from 2013 to 2022, imports remained at a lower figure.

Imports by Country

The UK (X tons), China (X tons) and Indonesia (X tons) were the main suppliers of gingerbread imports to Nigeria, with a combined 99% share of total imports.

From 2012 to 2022, the biggest increases were recorded for China (with a CAGR of +13.2%), while purchases for the other leaders experienced mixed trend patterns.

In value terms, the UK ($X) constituted the largest supplier of gingerbread to Nigeria, comprising 54% of total imports. The second position in the ranking was held by China ($X), with a 25% share of total imports.

From 2012 to 2022, the average annual rate of growth in terms of value from the UK totaled -3.5%. The remaining supplying countries recorded the following average annual rates of imports growth: China (+12.0% per year) and Indonesia (-28.4% per year).

Import Prices by Country

The average gingerbread import price stood at $X per ton in 2022, shrinking by -16.1% against the previous year. Over the period under review, the import price saw a abrupt slump. The most prominent rate of growth was recorded in 2016 a decrease of -2.9% against the previous year. Over the period under review, average import prices attained the maximum at $X per ton in 2012; however, from 2013 to 2022, import prices failed to regain momentum.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was the UK ($X per ton), while the price for Indonesia ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by China (-1.1%), while the prices for the other major suppliers experienced a decline.

Source: IndexBox Platform

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