Western Africa: Market for Gingerbread, Sweet Biscuits and Waffles 2024

Market Size for Gingerbread, Sweet Biscuits and Waffles in Western Africa

The West African market for gingerbread, sweet biscuits and waffles expanded slightly to $X in 2022, picking up by 3.3% against the previous year. In general, consumption showed a relatively flat trend pattern. As a result, consumption reached the peak level of $X. From 2021 to 2022, the growth of the market remained at a lower figure.

Production of Gingerbread, Sweet Biscuits and Waffles in Western Africa

In value terms, gingerbread, sweet biscuit and waffle production expanded slightly to $X in 2022 estimated in export price. Overall, production showed a relatively flat trend pattern. The pace of growth was the most pronounced in 2020 when the production volume increased by 18%. As a result, production reached the peak level of $X. From 2021 to 2022, production growth failed to regain momentum.

Exports of Gingerbread, Sweet Biscuits and Waffles

Exports in Western Africa

In 2022, overseas shipments of gingerbread, sweet biscuits and waffles were finally on the rise to reach X tons after two years of decline. Over the period under review, exports, however, showed a pronounced downturn. The volume of export peaked at X tons in 2012; however, from 2013 to 2022, the exports failed to regain momentum.

In value terms, gingerbread, sweet biscuit and waffle exports expanded sharply to $X in 2022. Overall, exports, however, recorded a deep setback. The most prominent rate of growth was recorded in 2019 when exports increased by 22%. Over the period under review, the exports attained the peak figure at $X in 2012; however, from 2013 to 2022, the exports remained at a lower figure.

Exports by Country

Senegal was the main exporting country with an export of around X tons, which finished at 54% of total exports. Ghana (X tons) held a 20% share (based on physical terms) of total exports, which put it in second place, followed by Cote d'Ivoire (16%). The following exporters - Nigeria (X tons) and Togo (X tons) - together made up 7.2% of total exports.

Exports from Senegal decreased at an average annual rate of -5.4% from 2012 to 2022. At the same time, Ghana (+6.8%) displayed positive paces of growth. Moreover, Ghana emerged as the fastest-growing exporter exported in Western Africa, with a CAGR of +6.8% from 2012-2022. By contrast, Cote d'Ivoire (-1.9%), Togo (-6.4%) and Nigeria (-8.1%) illustrated a downward trend over the same period. While the share of Ghana (+13 p.p.) and Cote d'Ivoire (+2.5 p.p.) increased significantly in terms of the total exports from 2012-2022, the share of Nigeria (-2.6 p.p.) and Senegal (-11.3 p.p.) displayed negative dynamics. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Senegal ($X) remains the largest gingerbread, sweet biscuit and waffle supplier in Western Africa, comprising 48% of total exports. The second position in the ranking was taken by Ghana ($X), with a 20% share of total exports. It was followed by Cote d'Ivoire, with a 17% share.

In Senegal, gingerbread, sweet biscuit and waffle exports contracted by an average annual rate of -6.7% over the period from 2012-2022. The remaining exporting countries recorded the following average annual rates of exports growth: Ghana (-0.3% per year) and Cote d'Ivoire (-0.3% per year).

Export Prices by Country

In 2022, the export price in Western Africa amounted to $X per ton, reducing by -23.5% against the previous year. In general, the export price recorded a pronounced decrease. The pace of growth appeared the most rapid in 2021 when the export price increased by 47%. As a result, the export price attained the peak level of $X per ton, and then reduced sharply in the following year.

There were significant differences in the average prices amongst the major exporting countries. In 2022, amid the top suppliers, the country with the highest price was Nigeria ($X per ton), while Togo ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Cote d'Ivoire (+1.6%), while the other leaders experienced a decline in the export price figures.

Imports of Gingerbread, Sweet Biscuits and Waffles

Imports in Western Africa

In 2022, overseas purchases of gingerbread, sweet biscuits and waffles decreased by -5.9% to X tons for the first time since 2019, thus ending a two-year rising trend. The total import volume increased at an average annual rate of +1.7% from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The growth pace was the most rapid in 2017 with an increase of 19%. The volume of import peaked at X tons in 2021, and then dropped in the following year.

In value terms, gingerbread, sweet biscuit and waffle imports contracted to $X in 2022. The total import value increased at an average annual rate of +1.4% from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The growth pace was the most rapid in 2021 with an increase of 25% against the previous year. As a result, imports attained the peak of $X, and then declined in the following year.

Imports by Country

The countries with the highest levels of gingerbread, sweet biscuit and waffle imports in 2022 were Mauritania (X tons), Senegal (X tons), Cote d'Ivoire (X tons), Ghana (X tons), Guinea (X tons), Togo (X tons), Benin (X tons), Nigeria (X tons), Gambia (X tons), Mali (X tons), Sierra Leone (X tons) and Burkina Faso (X tons), together resulting at 91% of total import.

From 2012 to 2022, the most notable rate of growth in terms of purchases, amongst the key importing countries, was attained by Togo (with a CAGR of +16.7%), while imports for the other leaders experienced more modest paces of growth.

In value terms, Cote d'Ivoire ($X), Senegal ($X) and Mauritania ($X) appeared to be the countries with the highest levels of imports in 2022, together accounting for 45% of total imports. Ghana, Nigeria, Guinea, Mali, Gambia, Sierra Leone, Benin, Togo and Burkina Faso lagged somewhat behind, together accounting for a further 46%.

Togo, with a CAGR of +16.0%, recorded the highest rates of growth with regard to the value of imports, in terms of the main importing countries over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

The import price in Western Africa stood at $X per ton in 2022, dropping by -4.8% against the previous year. Overall, the import price continues to indicate a relatively flat trend pattern. The most prominent rate of growth was recorded in 2019 when the import price increased by 11% against the previous year. Over the period under review, import prices reached the peak figure at $X per ton in 2021, and then dropped slightly in the following year.

Prices varied noticeably by country of destination: amid the top importers, the country with the highest price was Nigeria ($X per ton), while Togo ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Cote d'Ivoire (+5.3%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform

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