Nigeria: Market for Candies, Sweets, and Nonchocolate Confectionery 2024

Market Size for Candies, Sweets, and Nonchocolate Confectionery in Nigeria

The Nigerien market for candies, sweets, and nonchocolate confectionery was estimated at $X in 2022, flattening at the previous year. The market value increased at an average annual rate of +2.4% over the period from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. Candy, sweets, and nonchocolate confectionery consumption peaked at $X in 2019; however, from 2020 to 2022, consumption remained at a lower figure.

Production of Candies, Sweets, and Nonchocolate Confectionery in Nigeria

In value terms, candy, sweets, and nonchocolate confectionery production reduced modestly to $X in 2022 estimated in export price. In general, production, however, saw a mild increase. The pace of growth appeared the most rapid in 2016 with an increase of 51% against the previous year. As a result, production reached the peak level of $X. From 2017 to 2022, production growth failed to regain momentum.

Exports of Candies, Sweets, and Nonchocolate Confectionery

Exports from Nigeria

In 2022, approx. X tons of candies, sweets, and nonchocolate confectionery were exported from Nigeria; with a decrease of -17.8% on 2021 figures. Over the period under review, exports continue to indicate a abrupt decline. The pace of growth was the most pronounced in 2018 when exports increased by 139%. The exports peaked at X tons in 2013; however, from 2014 to 2022, the exports stood at a somewhat lower figure.

In value terms, candy, sweets, and nonchocolate confectionery exports contracted significantly to $X in 2022. In general, exports showed a dramatic descent. The most prominent rate of growth was recorded in 2021 when exports increased by 55% against the previous year. The exports peaked at $X in 2013; however, from 2014 to 2022, the exports stood at a somewhat lower figure.

Exports by Country

Ghana (X tons) was the main destination for candy, sweets, and nonchocolate confectionery exports from Nigeria, with a 97% share of total exports. It was followed by Cote d'Ivoire (X tons), with a 2.7% share of total exports.

From 2012 to 2022, the average annual growth rate of volume to Ghana amounted to -10.4%.

In value terms, Ghana ($X) remains the key foreign market for candies, sweets, and nonchocolate confectionery exports from Nigeria, comprising 97% of total exports. The second position in the ranking was held by Cote d'Ivoire ($X), with a 3% share of total exports.

From 2012 to 2022, the average annual rate of growth in terms of value to Ghana totaled -18.9%.

Export Prices by Country

In 2022, the average export price for candies, sweets, and nonchocolate confectionery amounted to $X per ton, dropping by -49.3% against the previous year. In general, the export price showed a abrupt curtailment. The most prominent rate of growth was recorded in 2021 an increase of 30%. The export price peaked at $X per ton in 2017; however, from 2018 to 2022, the export prices failed to regain momentum.

Average prices varied noticeably for the major foreign markets. In 2022, amid the top suppliers, the country with the highest price was Cote d'Ivoire ($X per ton), while the average price for exports to Ghana stood at $X per ton.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Mali (+34.7%), while the prices for the other major destinations experienced a decline.

Imports of Candies, Sweets, and Nonchocolate Confectionery

Imports into Nigeria

In 2022, purchases abroad of candies, sweets, and nonchocolate confectionery increased by 227% to X tons for the first time since 2019, thus ending a two-year declining trend. Overall, imports continue to indicate a remarkable increase. As a result, imports attained the peak and are likely to continue growth in the immediate term.

In value terms, candy, sweets, and nonchocolate confectionery imports surged to $X in 2022. Over the period under review, imports continue to indicate a buoyant increase. As a result, imports reached the peak and are likely to continue growth in the immediate term.

Imports by Country

In 2022, China (X tons) constituted the largest candy, sweets, and nonchocolate confectionery supplier to Nigeria, accounting for a 67% share of total imports. Moreover, candy, sweets, and nonchocolate confectionery imports from China exceeded the figures recorded by the second-largest supplier, Colombia (X tons), sevenfold. The third position in this ranking was held by Vietnam (X tons), with a 4.8% share.

From 2012 to 2022, the average annual rate of growth in terms of volume from China amounted to +16.5%. The remaining supplying countries recorded the following average annual rates of imports growth: Colombia (+68.3% per year) and Vietnam (+47.3% per year).

In value terms, China ($X) constituted the largest supplier of candies, sweets, and nonchocolate confectionery to Nigeria, comprising 26% of total imports. The second position in the ranking was taken by Egypt ($X), with a 13% share of total imports. It was followed by Vietnam, with a 12% share.

From 2012 to 2022, the average annual growth rate of value from China amounted to +16.7%. The remaining supplying countries recorded the following average annual rates of imports growth: Egypt (+103.3% per year) and Vietnam (+42.2% per year).

Import Prices by Country

The average import price for candies, sweets, and nonchocolate confectionery stood at $X per ton in 2022, jumping by 35% against the previous year. Over the period under review, the import price continues to indicate a relatively flat trend pattern. The pace of growth was the most pronounced in 2014 when the average import price increased by 99%. The import price peaked at $X per ton in 2016; however, from 2017 to 2022, import prices stood at a somewhat lower figure.

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

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Togo (+71.4%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

Frequently Asked Questions (FAQ) :