Western Africa: Sweet Biscuit Market 2024

Sweet Biscuit Market Size in Western Africa

In 2021, the West African sweet biscuit market decreased by -6.3% to $X for the first time since 2018, thus ending a two-year rising trend. The market value increased at an average annual rate of +1.5% over the period from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. Over the period under review, the market attained the maximum level at $X in 2017; however, from 2018 to 2021, consumption stood at a somewhat lower figure.

Sweet Biscuit Production in Western Africa

In value terms, sweet biscuit production declined to $X in 2021 estimated in export price. Over the period under review, production, however, saw a relatively flat trend pattern. The pace of growth was the most pronounced in 2014 when the production volume increased by 42%. Over the period under review, production hit record highs at $X in 2017; however, from 2018 to 2021, production stood at a somewhat lower figure.

Sweet Biscuit Exports

Exports in Western Africa

Sweet biscuit exports dropped markedly to X tons in 2021, waning by -68.3% against the year before. Over the period under review, exports continue to indicate a abrupt decrease. The growth pace was the most rapid in 2017 when exports increased by 41%. As a result, the exports reached the peak of X tons. From 2018 to 2021, the growth of the exports remained at a lower figure.

In value terms, sweet biscuit exports contracted remarkably to $X in 2021. Overall, exports continue to indicate a abrupt contraction. The most prominent rate of growth was recorded in 2017 with an increase of 27% against the previous year. As a result, the exports reached the peak of $X. From 2018 to 2021, the growth of the exports remained at a lower figure.

Exports by Country

In 2021, Ghana (X tons) was the major exporter of sweet biscuits, generating 56% of total exports. It was distantly followed by Cote d'Ivoire (X tons), Nigeria (X tons) and Senegal (X tons), together committing a 36% share of total exports. The following exporters - Togo (X tons) and Liberia (X tons) - together made up 6% of total exports.

Exports from Ghana increased at an average annual rate of +7.8% from 2012 to 2021. At the same time, Liberia (+56.4%) displayed positive paces of growth. Moreover, Liberia emerged as the fastest-growing exporter exported in Western Africa, with a CAGR of +56.4% from 2012-2021. By contrast, Nigeria (-5.7%), Togo (-14.5%), Cote d'Ivoire (-14.7%) and Senegal (-24.0%) illustrated a downward trend over the same period. Ghana (+44 p.p.), Nigeria (+4.2 p.p.) and Liberia (+2.2 p.p.) significantly strengthened its position in terms of the total exports, while Togo, Cote d'Ivoire and Senegal saw its share reduced by -2.3%, -8.3% and -41% from 2012 to 2021, respectively.

In value terms, Ghana ($X) emerged as the largest sweet biscuit supplier in Western Africa, comprising 55% of total exports. The second position in the ranking was held by Nigeria ($X), with a 20% share of total exports. It was followed by Cote d'Ivoire, with a 9.7% share.

In Ghana, sweet biscuit exports remained relatively stable over the period from 2012-2021. The remaining exporting countries recorded the following average annual rates of exports growth: Nigeria (-14.6% per year) and Cote d'Ivoire (-16.0% per year).

Export Prices by Country

The export price in Western Africa stood at $X per ton in 2021, jumping by 26% against the previous year. Overall, the export price, however, saw a mild decline. Over the period under review, the export prices hit record highs at $X per ton in 2012; however, from 2013 to 2021, the export prices stood at a somewhat lower figure.

There were significant differences in the average prices amongst the major exporting countries. In 2021, the country with the highest price was Nigeria ($X per ton), while Senegal ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Togo (-0.1%), while the other leaders experienced a decline in the export price figures.

Sweet Biscuit Imports

Imports in Western Africa

In 2021, overseas purchases of sweet biscuits increased by 11% to X tons, rising for the second consecutive year after two years of decline. In general, imports saw a relatively flat trend pattern. The most prominent rate of growth was recorded in 2020 with an increase of 18%. Over the period under review, imports hit record highs at X tons in 2017; however, from 2018 to 2021, imports failed to regain momentum.

In value terms, sweet biscuit imports soared to $X in 2021. Over the period under review, imports saw a relatively flat trend pattern. As a result, imports reached the peak and are likely to continue growth in the immediate term.

Imports by Country

Cote d'Ivoire (X tons), Ghana (X tons), Togo (X tons), Guinea (X tons), Senegal (X tons), Benin (X tons), Gambia (X tons), Niger (X tons), Burkina Faso (X tons), Mauritania (X tons), Mali (X tons) and Liberia (X tons) represented roughly 89% of total imports in 2021.

From 2012 to 2021, the biggest increases were recorded for Togo (with a CAGR of +29.0%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, Cote d'Ivoire ($X), Ghana ($X) and Senegal ($X) appeared to be the countries with the highest levels of imports in 2021, with a combined 45% share of total imports. These countries were followed by Guinea, Benin, Mauritania, Niger, Gambia, Mali, Liberia, Togo and Burkina Faso, which together accounted for a further 42%.

Togo, with a CAGR of +27.3%, 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

In 2021, the import price in Western Africa amounted to $X per ton, increasing by 14% against the previous year. Overall, the import price saw a relatively flat trend pattern. As a result, import price reached the peak level and is likely to continue growth in the immediate term.

Prices varied noticeably country of destination: the country with the highest price was Cote d'Ivoire ($X per ton), while Togo ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Cote d'Ivoire (+7.4%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform