Report Update: Apr 1, 2024

Nigeria - Confectionery - Market Analysis, Forecast, Size, Trends And Insights

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Confectionery Price in Nigeria - 2022

Confectionery Price in Nigeria (FOB) - 2022

In 2022, the average confectionery export price amounted to $2,974 per ton, increasing by 15% against the previous year. In general, the export price, however, continues to indicate a abrupt slump. The most prominent rate of growth was recorded in 2016 when the average export price increased by 56% against the previous year. Over the period under review, the average export prices hit record highs at $6,825 per ton in 2012; however, from 2013 to 2022, the export prices stood at a somewhat lower figure.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was France ($3,511 per ton), while the average price for exports to the UK ($1,977 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 (-4.3%), while the prices for the other major destinations experienced a decline.

Confectionery Price in Nigeria (CIF) - 2022

The average confectionery import price stood at $1,730 per ton in 2022, surging by 34% against the previous year. In general, the import price continues to indicate moderate growth. The growth pace was the most rapid in 2014 an increase of 38%. Over the period under review, average import prices hit record highs at $3,636 per ton in 2016; however, from 2017 to 2022, import prices failed to regain momentum.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was the Netherlands ($3,383 per ton), while the price for Colombia ($487 per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by China (+4.5%), while the prices for the other major suppliers experienced more modest paces of growth.

Confectionery Exports in Nigeria

In 2022, the amount of confectionery exported from Nigeria skyrocketed to 27K tons, rising by 27% against the previous year's figure. Over the period under review, total exports indicated a strong expansion from 2019 to 2022: its volume increased at an average annual rate of +8.4% over the last three years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, exports increased by +80.1% against 2020 indices. The most prominent rate of growth was recorded in 2021 when exports increased by 42%. The exports peaked in 2022 and are expected to retain growth in years to come.

In value terms, confectionery exports soared to $79M in 2022. Overall, total exports indicated buoyant growth from 2019 to 2022: its value increased at an average annual rate of +10.0% over the last three-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, exports increased by +46.6% against 2020 indices. As a result, the exports attained the peak and are likely to continue growth in the immediate term.

Export of Confectionery in Nigeria (Million USD)
COUNTRY	2019	2020	2021	2022	CAGR, 2019-2022
Germany	32.8	29.0	21.3	44.2	10.5%
Netherlands	11.5	10.9	19.4	18.5	17.2%
Spain	3.6	3.4	3.0	4.0	3.6%
United Kingdom	0.8	N/A	0.2	3.5	63.6%
United States	0.5	3.1	0.7	3.0	81.7%
Ghana	0.9	0.7	1.0	1.9	28.3%
Estonia	7.2	2.9	N/A	1.1	-46.5%
France	N/A	N/A	5.0	0.2	-96.0%
Others	2.3	4.0	3.9	2.8	6.8%
Total	59.5	54.0	54.3	79.1	10.0%

Top Export Markets for Confectionery from Nigeria in 2022:

Germany (13.0K tons)
Netherlands (6.2K tons)
United Kingdom (1.7K tons)
Spain (1.7K tons)
United States (1.3K tons)
Ghana (0.9K tons)
Estonia (0.4K tons)
France (0.1K tons)

Confectionery Imports in Nigeria

Confectionery imports into Nigeria skyrocketed to 21K tons in 2022, growing by 16% compared with 2021. The total import volume increased at an average annual rate of +5.4% over the period from 2019 to 2022; the trend pattern remained relatively stable, with only minor fluctuations being recorded in certain years. The pace of growth appeared the most rapid in 2020 when imports increased by 18% against the previous year. As a result, imports reached the peak of 22K tons. From 2021 to 2022, the growth of imports remained at a lower figure.

In value terms, confectionery imports skyrocketed to $37M in 2022. Over the period under review, total imports indicated buoyant growth from 2019 to 2022: its value increased at an average annual rate of +11.6% over the last three-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. As a result, imports attained the peak and are likely to continue growth in the immediate term.

Import of Confectionery in Nigeria (Million USD)
COUNTRY	2019	2020	2021	2022	CAGR, 2019-2022
Ghana	11.7	17.9	12.5	21.0	21.5%
China	6.1	2.6	2.8	4.3	-11.0%
India	0.2	1.0	1.3	3.1	149.3%
Netherlands	1.4	2.5	1.3	1.8	8.7%
Vietnam	0.4	0.1	1.3	1.6	58.7%
Egypt	1.6	2.2	0.1	1.2	-9.1%
Togo	0.2	1.1	1.0	1.2	81.7%
Colombia	N/A	N/A	1.2	0.6	-50.0%
Others	4.8	5.7	2.3	2.3	-21.7%
Total	26.6	33.2	23.8	37.0	11.6%

Top Suppliers of Confectionery to Nigeria in 2022:

Ghana (7.5K tons)
China (4.7K tons)
India (3.2K tons)
Togo (2.2K tons)
Colombia (1.2K tons)
Netherlands (0.5K tons)
Vietnam (0.5K tons)
Egypt (0.3K tons)

Source: IndexBox Market Intelligence Platform

This report provides an in-depth analysis of the confectionery market in Nigeria. Within it, you will discover the latest data on market trends and opportunities by country, consumption, production and price developments, as well as the global trade (imports and exports). The forecast exhibits the market prospects through 2030.

Product coverage:

Prodcom 10821100 - Cocoa paste (excluding containing added sugar or other sweetening matter)
Prodcom 10821200 - Cocoa butter, fat and oil
Prodcom 10821300 - Cocoa powder, not containing added sugar or other sweetening matter
Prodcom 10821400 - Cocoa powder, containing added sugar or other sweetening matter
Prodcom 10822130 - Chocolate and other food preparations containing cocoa, in blocks, slabs or bars > 2 kg or in liquid, paste, powder, g ranular or other bulk form, in containers or immediate packings of a content > 2 kg, containing . .18 % by weight of
Prodcom 10822150 - Chocolate milk crumb containing .18 % or more by weight of cocoa butter and in packings weighing > 2 kg
Prodcom 10822170 - Chocolate flavour coating containing .18 % or more by weight of cocoa butter and in packings weighing > 2 kg
Prodcom 10822190 - Food preparations containing <18 % of cocoa butter and in packings weighing > 2 kg (excluding chocolate flavour coating, chocolate milk crumb)
Prodcom 10822233 - Filled chocolate blocks, slabs or bars consisting of a centre (including of cream, liqueur or fruit paste, excluding chocolate biscuits)
Prodcom 10822235 - Chocolate blocks, slabs or bars with added cereal, fruit or nuts (excluding filled, chocolate biscuits)
Prodcom 10822239 - Chocolate blocks, slabs or bars (excluding filled, with added cereal, fruit or nuts, chocolate biscuits)
Prodcom 10822243 - Chocolates (including pralines) containing alcohol (excluding in blocks, slabs or bars)
Prodcom 10822245 - Chocolates (excluding those containing alcohol, in blocks, s labs or bars)
Prodcom 10822253 - Filled chocolate confectionery (excluding in blocks, slabs or bars, chocolate biscuits, chocolates)
Prodcom 10822255 - Chocolate confectionery (excluding filled, in blocks, slabs or bars, chocolate biscuits, chocolates)
Prodcom 10822260 - Sugar confectionery and substitutes therefor made from sugar substitution products, containing cocoa (including chocolate nougat) (excluding white chocolate)
Prodcom 10822270 - Chocolate spreads
Prodcom 10822280 - Preparations containing cocoa for making beverages
Prodcom 10822290 - Food products with cocoa (excluding cocoa paste, butter, p owder, blocks, slabs, bars, liquid, paste, powder, granular, o ther bulk form in packings > 2 kg, to make beverages, c hocolate spreads)
Prodcom 10822310 - Chewing gum
Prodcom 10822320 - Liquorice cakes, blocks, sticks and pastilles containing > .10 % by weight of sucrose, but not containing any other substances
Prodcom 10822330 - White chocolate
Prodcom 10822353 - Sugar confectionery pastes in immediate packings of a net content . 1 kg (including marzipan, fondant, nougat and almond pastes)
Prodcom 10822355 - Throat pastilles and cough drops consisting essentially of sugars and flavouring agents (excluding pastilles or drops with flavouring agents containing medicinal properties)
Prodcom 10822363 - Sugar-coated (panned) goods (including sugar almonds)
Prodcom 10822365 - Gums, fruit jellies and fruit pastes in the form of sugar confectionery (excluding chewing gum)
Prodcom 10822373 - Boiled sweets
Prodcom 10822375 - Toffees, caramels and similar sweets
Prodcom 10822383 - Compressed tablets of sugar confectionery (including cachous)
Prodcom 10822390 - Sugar confectionery, n.e.c.

Country coverage:

Nigeria

Data coverage:

Market volume and value
Per Capita consumption
Forecast of the market dynamics in the medium term
Trade (exports and imports) in Nigeria
Export and import prices
Market trends, drivers and restraints
Key market players and their profiles

Reasons to buy this report:

Take advantage of the latest data
Find deeper insights into current market developments
Discover vital success factors affecting the market

This report is designed for manufacturers, distributors, importers, and wholesalers, as well as for investors, consultants and advisors.

In this report, you can find information that helps you to make informed decisions on the following issues:

How to diversify your business and benefit from new market opportunities
How to load your idle production capacity
How to boost your sales on overseas markets
How to increase your profit margins
How to make your supply chain more sustainable
How to reduce your production and supply chain costs
How to outsource production to other countries
How to prepare your business for global expansion

While doing this research, we combine the accumulated expertise of our analysts and the capabilities of artificial intelligence. The AI-based platform, developed by our data scientists, constitutes the key working tool for business analysts, empowering them to discover deep insights and ideas from the marketing data.

1. INTRODUCTION

Making Data-Driven Decisions to Grow Your Business
1. REPORT DESCRIPTION
2. RESEARCH METHODOLOGY AND AI PLATFORM
3. DATA-DRIVEN DECISIONS FOR YOUR BUSINESS
4. GLOSSARY AND SPECIFIC TERMS
2. EXECUTIVE SUMMARY

A Quick Overview of Market Performance
1. KEY FINDINGS
2. MARKET TRENDS This Chapter is Available Only for the Professional Edition PRO
3. MARKET OVERVIEW

Understanding the Current State of The Market and Its Prospects
1. MARKET SIZE
2. MARKET STRUCTURE
3. TRADE BALANCE
4. PER CAPITA CONSUMPTION
5. MARKET FORECAST TO 2030
4. MOST PROMISING PRODUCT

Finding New Products to Diversify Your Business
This Chapter is Available Only for the Professional Edition PRO
1. TOP PRODUCTS TO DIVERSIFY YOUR BUSINESS
2. BEST-SELLING PRODUCTS
3. MOST CONSUMED PRODUCT
4. MOST TRADED PRODUCT
5. MOST PROFITABLE PRODUCT FOR EXPORT
5. MOST PROMISING SUPPLYING COUNTRIES

Choosing the Best Countries to Establish Your Sustainable Supply Chain
This Chapter is Available Only for the Professional Edition PRO
1. TOP COUNTRIES TO SOURCE YOUR PRODUCT
2. TOP PRODUCING COUNTRIES
3. TOP EXPORTING COUNTRIES
4. LOW-COST EXPORTING COUNTRIES
6. MOST PROMISING OVERSEAS MARKETS

Choosing the Best Countries to Boost Your Exports
This Chapter is Available Only for the Professional Edition PRO
1. TOP OVERSEAS MARKETS FOR EXPORTING YOUR PRODUCT
2. TOP CONSUMING MARKETS
3. UNSATURATED MARKETS
4. TOP IMPORTING MARKETS
5. MOST PROFITABLE MARKETS
7. PRODUCTION

The Latest Trends and Insights into The Industry
1. PRODUCTION VOLUME AND VALUE
8. IMPORTS
The Largest Import Supplying Countries
1. IMPORTS FROM 2012–2023
2. IMPORTS BY COUNTRY
3. IMPORT PRICES BY COUNTRY
9. EXPORTS
The Largest Destinations for Exports
1. EXPORTS FROM 2012–2023
2. EXPORTS BY COUNTRY
3. EXPORT PRICES BY COUNTRY
10. PROFILES OF MAJOR PRODUCERS

The Largest Producers on The Market and Their Profiles
This Chapter is Available Only for the Professional Edition PRO
LIST OF TABLES
1. Key Findings In 2023
2. Market Volume, In Physical Terms, 2012–2023
3. Market Value, 2012–2023
4. Per Capita Consumption In 2012-2023
5. Imports, In Physical Terms, By Country, 2012–2023
6. Imports, In Value Terms, By Country, 2012–2023
7. Import Prices, By Country Of Origin, 2012–2023
8. Exports, In Physical Terms, By Country, 2012–2023
9. Exports, In Value Terms, By Country, 2012–2023
10. Export Prices, By Country Of Destination, 2012–2023
LIST OF FIGURES
1. Market Volume, In Physical Terms, 2012–2023
2. Market Value, 2012–2023
3. Market Structure – Domestic Supply vs. Imports, In Physical Terms, 2012-2023
4. Market Structure – Domestic Supply vs. Imports, In Value Terms, 2012-2023
5. Trade Balance, In Physical Terms, 2012-2023
6. Trade Balance, In Value Terms, 2012-2023
7. Per Capita Consumption, 2012-2023
8. Market Volume Forecast to 2030
9. Market Value Forecast to 2030
10. Products: Market Size And Growth, By Type
11. Products: Average Per Capita Consumption, By Type
12. Products: Exports And Growth, By Type
13. Products: Export Prices And Growth, By Type
14. Production Volume And Growth
15. Exports And Growth
16. Export Prices And Growth
17. Market Size And Growth
18. Per Capita Consumption
19. Imports And Growth
20. Import Prices
21. Production, In Physical Terms, 2012–2023
22. Production, In Value Terms, 2012–2023
23. Imports, In Physical Terms, 2012–2023
24. Imports, In Value Terms, 2012–2023
25. Imports, In Physical Terms, By Country, 2023
26. Imports, In Physical Terms, By Country, 2012–2023
27. Imports, In Value Terms, By Country, 2012–2023
28. Import Prices, By Country Of Origin, 2012–2023
29. Exports, In Physical Terms, 2012–2023
30. Exports, In Value Terms, 2012–2023
31. Exports, In Physical Terms, By Country, 2023
32. Exports, In Physical Terms, By Country, 2012–2023
33. Exports, In Value Terms, By Country, 2012–2023
34. Export Prices, By Country Of Destination, 2012–2023