Nigeria: Confectionery Market 2024

Confectionery Market Size in Nigeria

The Nigerien confectionery market expanded modestly to $X in 2022, rising by X% against the previous year. Overall, consumption, however, recorded a relatively flat trend pattern. Over the period under review, the market hit record highs at $X in 2013; however, from 2014 to 2022, consumption remained at a lower figure.

Confectionery Production in Nigeria

In value terms, confectionery production amounted to $X in 2022 estimated in export price. Over the period under review, production, however, showed a mild setback. The most prominent rate of growth was recorded in 2016 with an increase of X%. Confectionery production peaked at $X in 2013; however, from 2014 to 2022, production stood at a somewhat lower figure.

Confectionery Exports

Exports from Nigeria

In 2022, overseas shipments of confectionery increased by X% to X tons, rising for the second year in a row after two years of decline. Over the period under review, exports, however, recorded a mild slump. The most prominent rate of growth was recorded in 2013 with an increase of X% against the previous year. As a result, the exports reached the peak of X tons. From 2014 to 2022, the growth of the exports remained at a somewhat lower figure.

In value terms, confectionery exports surged to $X in 2022. Overall, exports, however, recorded a abrupt contraction. The growth pace was the most rapid in 2013 with an increase of X% against the previous year. As a result, the exports attained the peak of $X. From 2014 to 2022, the growth of the exports remained at a somewhat lower figure.

Exports by Country

Germany (X tons) was the main destination for confectionery exports from Nigeria, with a X% share of total exports. Moreover, confectionery exports to Germany exceeded the volume sent to the second major destination, the Netherlands (X tons), twofold. The third position in this ranking was taken by the UK (X tons), with a X% share.

From 2012 to 2022, the average annual growth rate of volume to Germany stood at X%. Exports to the other major destinations recorded the following average annual rates of exports growth: the Netherlands (X% per year) and the UK (X% per year).

In value terms, Germany ($X) remains the key foreign market for confectionery exports from Nigeria, comprising X% of total exports. The second position in the ranking was held by the Netherlands ($X), with a X% share of total exports. It was followed by Spain, with a X% share.

From 2012 to 2022, the average annual growth rate of value to Germany amounted to X%. Exports to the other major destinations recorded the following average annual rates of exports growth: the Netherlands (X% per year) and Spain (X% per year).

Export Prices by Country

The average confectionery export price stood at $X per ton in 2022, increasing by X% against the previous year. Overall, the export price, however, continues to indicate a abrupt contraction. The pace of growth appeared the most rapid in 2016 when the average export price increased by X% 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 France ($X per ton), while the average price for exports to the UK ($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 Ghana (X%), while the prices for the other major destinations experienced a decline.

Confectionery Imports

Imports into Nigeria

In 2022, approx. X tons of confectionery were imported into Nigeria; rising by X% against the year before. In general, imports showed strong growth. The pace of growth appeared the most rapid in 2013 with an increase of X%. As a result, imports attained the peak of X tons. From 2014 to 2022, the growth of imports failed to regain momentum.

In value terms, confectionery imports surged to $X in 2022. Overall, imports enjoyed a resilient increase. The most prominent rate of growth was recorded in 2013 with an increase of X%. As a result, imports reached the peak of $X. From 2014 to 2022, the growth of imports remained at a lower figure.

Imports by Country

Ghana (X tons), China (X tons) and India (X tons) were the main suppliers of confectionery imports to Nigeria, with a combined X% share of total imports. Togo, Colombia, Vietnam, the Netherlands, Turkey, the UK and Indonesia 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 Togo (with a CAGR of X%), while imports for the other leaders experienced more modest paces of growth.

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

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

Import Prices by Country

The average confectionery import price stood at $X per ton in 2022, growing by X% against the previous year. In general, the import price recorded temperate growth. The pace of growth was the most pronounced in 2014 when the average import price increased by X%. Over the period under review, average import prices attained the peak figure 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 the Netherlands ($X per ton), while the price for Colombia ($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 (X%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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