Western Africa: Confectionery-Making Industrial Machinery Market 2024

Confectionery-Making Industrial Machinery Market Size in Western Africa

The West African confectionery-making industrial machinery market rose markedly to $X in 2022, increasing by 9.1% against the previous year. Over the period under review, consumption continues to indicate a strong expansion. The level of consumption peaked at $X in 2020; however, from 2021 to 2022, consumption remained at a lower figure.

Confectionery-Making Industrial Machinery Production in Western Africa

In value terms, confectionery-making industrial machinery production expanded modestly to $X in 2022 estimated in export price. Over the period under review, production continues to indicate a mild descent. The growth pace was the most rapid in 2017 when the production volume increased by 15% against the previous year. Over the period under review, production reached the peak level at $X in 2012; however, from 2013 to 2022, production stood at a somewhat lower figure.

Confectionery-Making Industrial Machinery Exports

Exports in Western Africa

Confectionery-making industrial machinery exports soared to X units in 2022, with an increase of 35% compared with the previous year. Over the period under review, exports showed a buoyant expansion. The growth pace was the most rapid in 2018 with an increase of 153% against the previous year. The volume of export peaked at X units in 2020; however, from 2021 to 2022, the exports failed to regain momentum.

In value terms, confectionery-making industrial machinery exports skyrocketed to $X in 2022. In general, exports continue to indicate buoyant growth. The pace of growth was the most pronounced in 2018 with an increase of 210%. Over the period under review, the exports reached the peak figure in 2022 and are expected to retain growth in years to come.

Exports by Country

Nigeria was the key exporter of industrial machinery for the manufacture or preparation of confectionery, cocoa or chocolate in Western Africa, with the volume of exports accounting for X units, which was approx. 53% of total exports in 2022. Togo (X units) ranks second in terms of the total exports with a 31% share, followed by Senegal (9.5%). Guinea (X units) and Ghana (X units) followed a long way behind the leaders.

From 2012 to 2022, the most notable rate of growth in terms of shipments, amongst the key exporting countries, was attained by Senegal (with a CAGR of +71.0%), while the other leaders experienced more modest paces of growth.

In value terms, Nigeria ($X) remains the largest confectionery-making industrial machinery supplier in Western Africa, comprising 55% of total exports. The second position in the ranking was taken by Senegal ($X), with a 26% share of total exports. It was followed by Togo, with a 9.8% share.

From 2012 to 2022, the average annual rate of growth in terms of value in Nigeria totaled +27.8%. The remaining exporting countries recorded the following average annual rates of exports growth: Senegal (+80.7% per year) and Togo (+39.6% per year).

Export Prices by Country

The export price in Western Africa stood at $X per unit in 2022, picking up by 9.8% against the previous year. Export price indicated mild growth from 2012 to 2022: its price increased at an average annual rate of +1.4% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. The growth pace was the most rapid in 2014 when the export price increased by 39% against the previous year. The level of export peaked at $X per unit in 2016; however, from 2017 to 2022, the export prices remained at a lower figure.

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 Senegal ($X per unit), while Ghana ($X per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Senegal (+5.7%), while the other leaders experienced mixed trends in the export price figures.

Confectionery-Making Industrial Machinery Imports

Imports in Western Africa

In 2022, approx. X units of industrial machinery for the manufacture or preparation of confectionery, cocoa or chocolate were imported in Western Africa; picking up by 19% on the previous year. In general, imports showed prominent growth. The most prominent rate of growth was recorded in 2019 with an increase of 230% against the previous year. Over the period under review, imports attained the maximum at X units in 2020; however, from 2021 to 2022, imports remained at a lower figure.

In value terms, confectionery-making industrial machinery imports reduced slightly to $X in 2022. Over the period under review, imports posted a buoyant increase. The most prominent rate of growth was recorded in 2018 with an increase of 168%. Over the period under review, imports attained the peak figure at $X in 2020; however, from 2021 to 2022, imports remained at a lower figure.

Imports by Country

Nigeria was the key importing country with an import of about X units, which amounted to 53% of total imports. It was distantly followed by Cote d'Ivoire (X units), Ghana (X units) and Senegal (X units), together comprising a 43% share of total imports. Benin (X units) took a relatively small share of total imports.

Imports into Nigeria increased at an average annual rate of +18.9% from 2012 to 2022. At the same time, Benin (+56.1%), Cote d'Ivoire (+10.9%), Senegal (+6.8%) and Ghana (+5.9%) displayed positive paces of growth. Moreover, Benin emerged as the fastest-growing importer imported in Western Africa, with a CAGR of +56.1% from 2012-2022. While the share of Nigeria (+21 p.p.) and Benin (+1.7 p.p.) increased significantly in terms of the total imports from 2012-2022, the share of Senegal (-3.7 p.p.), Cote d'Ivoire (-5.4 p.p.) and Ghana (-12.9 p.p.) displayed negative dynamics.

In value terms, Nigeria ($X), Cote d'Ivoire ($X) and Ghana ($X) constituted the countries with the highest levels of imports in 2022, together comprising 88% of total imports. Senegal and Benin lagged somewhat behind, together comprising a further 9.5%.

Benin, with a CAGR of +30.1%, recorded the highest rates of growth with regard to the value of imports, among 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 unit in 2022, waning by -15.8% against the previous year. In general, the import price saw a pronounced reduction. The pace of growth was the most pronounced in 2013 when the import price increased by 16%. The level of import peaked at $X per unit in 2016; however, from 2017 to 2022, import prices remained at a lower figure.

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

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Senegal (+5.6%), while the other leaders experienced a decline in the import price figures.

Source: IndexBox Platform

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