Nigeria - Cocoa Powder (Containing Added Sugar) - Market Analysis, Forecast, Size, Trends And Insights
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View PricingPrice for Cocoa Powder with Sugar in Nigeria - 2022
Contents:
- Price for Cocoa Powder with Sugar in Nigeria (CIF) - 2022
- Price for Cocoa Powder with Sugar in Nigeria (FOB) - 2022
- Imports of Cocoa Powder with Sugar in Nigeria
- Exports of Cocoa Powder with Sugar in Nigeria
Price for Cocoa Powder with Sugar in Nigeria (CIF) - 2022
The average cocoa powder with sugar import price stood at $2,520 per ton in 2022, remaining constant against the previous year. In general, the import price recorded a notable increase. The most prominent rate of growth was recorded in 2014 when the average import price increased by 62%. Over the period under review, average import prices reached the peak figure at $3,783 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 Ghana ($2,680 per ton), while the price for China amounted to $867 per ton.
From 2012 to 2022, the most notable rate of growth in terms of prices was attained by China (+7.8%).
Price for Cocoa Powder with Sugar in Nigeria (FOB) - 2022
In 2022, the average cocoa powder with sugar export price amounted to $754 per ton, which is down by -18.5% against the previous year. Overall, the export price recorded a precipitous contraction. The growth pace was the most rapid in 2015 when the average export price increased by 95%. The export price peaked at $8,179 per ton in 2012; however, from 2013 to 2022, the export prices remained at a lower figure.
Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was the United Arab Emirates ($6,823 per ton), while the average price for exports to Togo ($338 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 the United Arab Emirates (-3.6%), while the prices for the other major destinations experienced a decline.
Imports of Cocoa Powder with Sugar in Nigeria
In 2022, imports of cocoa powder (containing added sugar) into Nigeria skyrocketed to 10K tons, with an increase of 92% on 2021. In general, imports posted a significant expansion. The pace of growth was the most pronounced in 2020 when imports increased by 99% against the previous year. Imports peaked in 2022 and are expected to retain growth in years to come.
In value terms, cocoa powder with sugar imports surged to $25M in 2022. Over the period under review, imports continue to indicate a significant expansion. The pace of growth was the most pronounced in 2020 with an increase of 98% against the previous year. Imports peaked in 2022 and are expected to retain growth in the immediate term.
| Import of Cocoa Powder with Sugar in Nigeria (Million USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| Ghana | 8.3 | 17.6 | 12.6 | 24.2 | 42.9% |
| China | 0.4 | N/A | 0.3 | 0.6 | 14.5% |
| Others | 0.2 | 0.1 | 0.1 | 0.2 | 0.0% |
| Total | 8.9 | 17.7 | 13.0 | 25.1 | 41.3% |
Top Suppliers of Cocoa Powder with Sugar to Nigeria in 2022:
- Ghana (9.0K tons)
- China (0.7K tons)
Exports of Cocoa Powder with Sugar in Nigeria
In 2022, the amount of cocoa powder (containing added sugar) exported from Nigeria rose remarkably to 496 tons, picking up by 6% on 2021. In general, exports saw a significant expansion. The growth pace was the most rapid in 2020 when exports increased by 2,402% against the previous year. Over the period under review, the exports attained the maximum in 2022 and are likely to continue growth in the immediate term.
In value terms, cocoa powder with sugar exports fell to $374K in 2022. Over the period under review, exports recorded a significant expansion. The most prominent rate of growth was recorded in 2020 when exports increased by 1,299%.
| Export of Cocoa Powder with Sugar in Nigeria (Thousand USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| Togo | 3.8 | 37.4 | 75.8 | 86.3 | 183.2% |
| United Arab Emirates | 4.0 | 39.8 | 14.5 | 64.2 | 152.2% |
| Ghana | 0.2 | 57.1 | 52.8 | 60.1 | 569.8% |
| Germany | 2.2 | 37.7 | 40.9 | 46.5 | 176.5% |
| Niger | 0.2 | 14.1 | 26.5 | 30.2 | 432.5% |
| United Kingdom | 0.2 | 14.1 | 19.1 | 21.3 | 374.0% |
| Spain | 1.3 | 18.3 | 14.5 | 14.2 | 121.9% |
| Vietnam | N/A | N/A | 0.6 | N/A | 0% |
| India | N/A | N/A | 60.0 | N/A | 0% |
| Australia | N/A | N/A | 6.6 | N/A | 0% |
| Others | 6.5 | 37.7 | 121 | 50.8 | 98.4% |
| Total | 18.3 | 256 | 433 | 374 | 173.4% |
Top Export Markets for Cocoa Powder with Sugar from Nigeria in 2022:
- Togo (255.3 tons)
- Ghana (75.5 tons)
- Germany (61.5 tons)
- Niger (33.4 tons)
- United Kingdom (21.9 tons)
- Spain (10.7 tons)
- United Arab Emirates (9.4 tons)
This report provides an in-depth analysis of the market for cocoa powder with sugar 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 10821400 - Cocoa powder, containing added sugar or other sweetening matter
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.
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1. INTRODUCTION
Making Data-Driven Decisions to Grow Your Business
- REPORT DESCRIPTION
- RESEARCH METHODOLOGY AND AI PLATFORM
- DATA-DRIVEN DECISIONS FOR YOUR BUSINESS
- GLOSSARY AND SPECIFIC TERMS
-
2. EXECUTIVE SUMMARY
A Quick Overview of Market Performance
- KEY FINDINGS
- MARKET TRENDS This Chapter is Available Only for the Professional Edition PRO
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3. MARKET OVERVIEW
Understanding the Current State of The Market and Its Prospects
- MARKET SIZE
- MARKET STRUCTURE
- TRADE BALANCE
- PER CAPITA CONSUMPTION
- MARKET FORECAST TO 2030
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4. MOST PROMISING PRODUCT
Finding New Products to Diversify Your Business
This Chapter is Available Only for the Professional Edition PRO- TOP PRODUCTS TO DIVERSIFY YOUR BUSINESS
- BEST-SELLING PRODUCTS
- MOST CONSUMED PRODUCT
- MOST TRADED PRODUCT
- MOST PROFITABLE PRODUCT FOR EXPORT
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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- TOP COUNTRIES TO SOURCE YOUR PRODUCT
- TOP PRODUCING COUNTRIES
- TOP EXPORTING COUNTRIES
- LOW-COST EXPORTING COUNTRIES
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6. MOST PROMISING OVERSEAS MARKETS
Choosing the Best Countries to Boost Your Exports
This Chapter is Available Only for the Professional Edition PRO- TOP OVERSEAS MARKETS FOR EXPORTING YOUR PRODUCT
- TOP CONSUMING MARKETS
- UNSATURATED MARKETS
- TOP IMPORTING MARKETS
- MOST PROFITABLE MARKETS
7. PRODUCTION
The Latest Trends and Insights into The Industry
- PRODUCTION VOLUME AND VALUE
8. IMPORTS
The Largest Import Supplying Countries
- IMPORTS FROM 2012–2023
- IMPORTS BY COUNTRY
- IMPORT PRICES BY COUNTRY
9. EXPORTS
The Largest Destinations for Exports
- EXPORTS FROM 2012–2023
- EXPORTS BY COUNTRY
- EXPORT PRICES BY COUNTRY
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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
- Key Findings In 2023
- Market Volume, In Physical Terms, 2012–2023
- Market Value, 2012–2023
- Per Capita Consumption In 2012-2023
- Imports, In Physical Terms, By Country, 2012–2023
- Imports, In Value Terms, By Country, 2012–2023
- Import Prices, By Country Of Origin, 2012–2023
- Exports, In Physical Terms, By Country, 2012–2023
- Exports, In Value Terms, By Country, 2012–2023
- Export Prices, By Country Of Destination, 2012–2023
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LIST OF FIGURES
- Market Volume, In Physical Terms, 2012–2023
- Market Value, 2012–2023
- Market Structure – Domestic Supply vs. Imports, In Physical Terms, 2012-2023
- Market Structure – Domestic Supply vs. Imports, In Value Terms, 2012-2023
- Trade Balance, In Physical Terms, 2012-2023
- Trade Balance, In Value Terms, 2012-2023
- Per Capita Consumption, 2012-2023
- Market Volume Forecast to 2030
- Market Value Forecast to 2030
- Products: Market Size And Growth, By Type
- Products: Average Per Capita Consumption, By Type
- Products: Exports And Growth, By Type
- Products: Export Prices And Growth, By Type
- Production Volume And Growth
- Exports And Growth
- Export Prices And Growth
- Market Size And Growth
- Per Capita Consumption
- Imports And Growth
- Import Prices
- Production, In Physical Terms, 2012–2023
- Production, In Value Terms, 2012–2023
- Imports, In Physical Terms, 2012–2023
- Imports, In Value Terms, 2012–2023
- Imports, In Physical Terms, By Country, 2023
- Imports, In Physical Terms, By Country, 2012–2023
- Imports, In Value Terms, By Country, 2012–2023
- Import Prices, By Country Of Origin, 2012–2023
- Exports, In Physical Terms, 2012–2023
- Exports, In Value Terms, 2012–2023
- Exports, In Physical Terms, By Country, 2023
- Exports, In Physical Terms, By Country, 2012–2023
- Exports, In Value Terms, By Country, 2012–2023
- Export Prices, By Country Of Destination, 2012–2023
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