Western Africa - Ground-Nut - Market Analysis, Forecast, Size, Trends and Insights
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View PricingWestern Africa: Groundnuts Market 2024
Groundnuts Market Size in Western Africa
After eight years of growth, the West African groundnuts market decreased by X% to $X in 2022. The market value increased at an average annual rate of X% over the period from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. Over the period under review, the market reached the maximum level at $X in 2021, and then reduced modestly in the following year.
Groundnuts Production in Western Africa
In value terms, groundnuts production reduced modestly to $X in 2022 estimated in export price. Over the period under review, production, however, continues to indicate a perceptible curtailment. The pace of growth was the most pronounced in 2018 with an increase of X%. The level of production peaked at $X in 2012; however, from 2013 to 2022, production failed to regain momentum.
Nigeria (X tons) constituted the country with the largest volume of groundnuts production, accounting for X% of total volume. Moreover, groundnuts production in Nigeria exceeded the figures recorded by the second-largest producer, Senegal (X tons), threefold. Guinea (X tons) ranked third in terms of total production with a X% share.
In Nigeria, groundnuts production increased at an average annual rate of X% over the period from 2012-2022. The remaining producing countries recorded the following average annual rates of production growth: Senegal (X% per year) and Guinea (X% per year).
The average groundnuts yield expanded modestly to X tons per ha in 2022, picking up by X% on 2021. In general, the yield, however, recorded a relatively flat trend pattern. The pace of growth was the most pronounced in 2014 when the yield increased by X% against the previous year. The level of yield peaked at X tons per ha in 2018; afterwards, it flattened through to 2022. Despite the increased use of modern agricultural techniques and methods, future yield figures may still be impacted by adverse weather conditions.
The groundnuts harvested area shrank slightly to X ha in 2022, stabilizing at the previous year's figure. The harvested area increased at an average annual rate of X% over the period from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The most prominent rate of growth was recorded in 2016 when the harvested area increased by X%. Over the period under review, the harvested area dedicated to groundnuts production attained the maximum at X ha in 2021, and then contracted in the following year.
Groundnuts Exports
Exports in Western Africa
In 2022, after four years of decline, there was significant growth in overseas shipments of ground-nut (in-shell), when their volume increased by X% to X tons. Overall, exports, however, showed a pronounced slump. The pace of growth appeared the most rapid in 2016 with an increase of X%. Over the period under review, the exports attained the peak figure at X tons in 2017; however, from 2018 to 2022, the exports failed to regain momentum.
In value terms, groundnuts exports stood at $X in 2022. In general, exports showed a slight expansion. The pace of growth appeared the most rapid in 2016 with an increase of X%. Over the period under review, the exports hit record highs at $X in 2017; however, from 2018 to 2022, the exports failed to regain momentum.
Exports by Country
Togo was the major exporter of ground-nut (in-shell) in Western Africa, with the volume of exports accounting for X tons, which was approx. X% of total exports in 2022. Cote d'Ivoire (X tons) took the second position in the ranking, followed by Nigeria (X tons), Burkina Faso (X tons), Senegal (X tons) and Niger (X tons). All these countries together took near X% share of total exports.
Exports from Togo increased at an average annual rate of X% from 2012 to 2022. At the same time, Burkina Faso (X%), Nigeria (X%), Cote d'Ivoire (X%) and Niger (X%) displayed positive paces of growth. Moreover, Burkina Faso emerged as the fastest-growing exporter exported in Western Africa, with a CAGR of X% from 2012-2022. By contrast, Senegal (X%) illustrated a downward trend over the same period. From 2012 to 2022, the share of Togo, Nigeria, Cote d'Ivoire, Burkina Faso and Niger increased by X, X, X, X and X percentage points, respectively.
In value terms, Togo ($X) remains the largest groundnuts supplier in Western Africa, comprising X% of total exports. The second position in the ranking was taken by Nigeria ($X), with a X% share of total exports. It was followed by Senegal, with a X% share.
From 2012 to 2022, the average annual rate of growth in terms of value in Togo amounted to X%. The remaining exporting countries recorded the following average annual rates of exports growth: Nigeria (X% per year) and Senegal (X% per year).
Export Prices by Country
The export price in Western Africa stood at $X per ton in 2022, reducing by X% against the previous year. Over the period under review, the export price, however, recorded a resilient increase. The pace of growth was the most pronounced in 2021 when the export price increased by X% against the previous year. As a result, the export price reached the peak level of $X per ton, and then declined markedly in the following year.
Prices varied noticeably by country of origin: amid the top suppliers, the country with the highest price was Togo ($X per ton), while Burkina Faso ($X per ton) was amongst the lowest.
From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Senegal (X%), while the other leaders experienced mixed trends in the export price figures.
Groundnuts Imports
Imports in Western Africa
After two years of growth, purchases abroad of ground-nut (in-shell) decreased by X% to X tons in 2022. In general, imports, however, enjoyed temperate growth. The most prominent rate of growth was recorded in 2017 with an increase of X% against the previous year. The volume of import peaked at X tons in 2021, and then reduced sharply in the following year.
In value terms, groundnuts imports declined to $X in 2022. Overall, imports, however, posted a temperate expansion. The pace of growth appeared the most rapid in 2017 with an increase of X% against the previous year. Over the period under review, imports reached the peak figure at $X in 2014; however, from 2015 to 2022, imports stood at a somewhat lower figure.
Imports by Country
In 2022, Mali (X tons), Togo (X tons) and Benin (X tons) was the largest importer of ground-nut (in-shell) in Western Africa, making up X% of total import. Niger (X tons) took the next position in the ranking, followed by Senegal (X tons). All these countries together took approx. X% share of total imports. Guinea (X tons) and Liberia (X tons) held a relatively small share of total imports.
From 2012 to 2022, the biggest increases were recorded for Guinea (with a CAGR of X%), while purchases for the other leaders experienced more modest paces of growth.
In value terms, Mali ($X) constitutes the largest market for imported ground-nut (in-shell) in Western Africa, comprising X% of total imports. The second position in the ranking was taken by Togo ($X), with a X% share of total imports. It was followed by Liberia, with a X% share.
From 2012 to 2022, the average annual growth rate of value in Mali amounted to X%. In the other countries, the average annual rates were as follows: Togo (X% per year) and Liberia (X% per year).
Import Prices by Country
In 2022, the import price in Western Africa amounted to $X per ton, increasing by X% against the previous year. In general, the import price, however, saw a slight slump. The pace of growth appeared the most rapid in 2013 an increase of X%. As a result, import price reached the peak level of $X per ton. From 2014 to 2022, the import prices remained at a lower figure.
Prices varied noticeably by country of destination: amid the top importers, the country with the highest price was Liberia ($X per ton), while Benin ($X per ton) was amongst the lowest.
From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Liberia (X%), while the other leaders experienced more modest paces of growth.
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This report provides an in-depth analysis of the groundnuts market in Western Africa. 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:
- FCL 242 - Groundnuts, in shell
Country coverage:
- Benin
- Burkina Faso
- Cabo Verde
- Cote d'Ivoire
- Gambia
- Ghana
- Guinea
- Guinea-Bissau
- Liberia
- Mali
- Mauritania
- Niger
- Nigeria
- Saint Helena, Ascension and Tristan da Cunha
- Senegal
- Sierra Leone
- Togo
Data coverage:
- Market volume and value
- Per Capita consumption
- Forecast of the market dynamics in the medium term
- Production in Western Africa, split by region and country
- Trade (exports and imports) in Western Africa
- 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
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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
- CONSUMPTION BY COUNTRY
- 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
- COUNTRIES WITH TOP YIELDS
- 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
- PRODUCTION BY COUNTRY
- HARVESTED AREA AND YIELD BY COUNTRY
8. IMPORTS
The Largest Importers on The Market and How They Succeed
- IMPORTS FROM 2012–2023
- IMPORTS BY COUNTRY
- IMPORT PRICES BY COUNTRY
9. EXPORTS
The Largest Exporters on The Market and How They Succeed
- 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 -
11. COUNTRY PROFILES
The Largest Markets And Their Profiles
This Chapter is Available Only for the Professional Edition PRO- Benin
- Burkina Faso
- Cabo Verde
- Gambia
- Ghana
- Guinea
- Guinea-Bissau
- Liberia
- Mali
- Mauritania
- Niger
- Nigeria
- Saint Helena, Ascension and Tristan da Cunha
- Senegal
- Sierra Leone
- Togo
- Cote d'Ivoire
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LIST OF TABLES
- Key Findings In 2023
- Market Volume, In Physical Terms, 2012–2023
- Market Value, 2012–2023
- Per Capita Consumption, By Country, 2018–2023
- Production, In Physical Terms, By Country, 2012–2023
- Harvested Area, By Country, 2012-2023
- Yield, By Country, 2012-2023
- Imports, In Physical Terms, By Country, 2012–2023
- Imports, In Value Terms, By Country, 2012–2023
- Import Prices, By Country Of Destination, 2012–2023
- Exports, In Physical Terms, By Country, 2012–2023
- Exports, In Value Terms, By Country, 2012–2023
- Export Prices, By Country Of Origin, 2012–2023
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LIST OF FIGURES
- Market Volume, In Physical Terms, 2012–2023
- Market Value, 2012–2023
- Consumption, By Country, 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
- Yield 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
- Area Harvested, 2012–2023
- Yield, 2012–2023
- Production, By Country, 2023
- Production, In Physical Terms, By Country, 2012–2023
- Harvested Area, By Country, 2023
- Harvested Area, By Country, 2012-2023
- Yield, By Country, 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, 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, 2012–2023
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