ECOWAS: Animal Feed Market 2024

Animal Feed Market Size in ECOWAS

The ECOWAS animal feed market reached $X in 2022, standing approx. at the previous year. The market value increased at an average annual rate of X% from 2012 to 2022; the trend pattern indicated some noticeable fluctuations being recorded in certain years. Over the period under review, the market reached the peak level at $X in 2020; however, from 2021 to 2022, consumption remained at a lower figure.

Animal Feed Production in ECOWAS

In value terms, animal feed production amounted to $X in 2022 estimated in export price. The total output value increased at an average annual rate of X% from 2012 to 2022; the trend pattern indicated some noticeable fluctuations being recorded in certain years. The most prominent rate of growth was recorded in 2018 with an increase of X% against the previous year. Over the period under review, production reached the peak level at $X in 2020; however, from 2021 to 2022, production stood at a somewhat lower figure.

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Animal Feed Exports

Exports in ECOWAS

Animal feed exports soared to X tons in 2022, increasing by X% compared with the year before. Overall, exports, however, continue to indicate a pronounced downturn. The volume of export peaked at X tons in 2012; however, from 2013 to 2022, the exports remained at a lower figure.

In value terms, animal feed exports skyrocketed to $X in 2022. In general, exports, however, showed a slight reduction. The most prominent rate of growth was recorded in 2019 when exports increased by X%. The level of export peaked at $X in 2012; however, from 2013 to 2022, the exports stood at a somewhat lower figure.

Exports by Country

Cote d'Ivoire represented the largest exporting country with an export of about X tons, which reached X% of total exports. It was distantly followed by Senegal (X tons), committing an X% share of total exports. Ghana (X tons) and Guinea (X tons) held a relatively small share of total exports.

Exports from Cote d'Ivoire increased at an average annual rate of X% from 2012 to 2022. At the same time, Guinea (X%), Ghana (X%) and Senegal (X%) displayed positive paces of growth. Moreover, Guinea emerged as the fastest-growing exporter exported in ECOWAS, with a CAGR of X% from 2012-2022. Cote d'Ivoire (X p.p.), Senegal (X p.p.), Ghana (X p.p.) and Guinea (X p.p.) significantly strengthened its position in terms of the total exports, while the shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Cote d'Ivoire ($X) emerged as the largest animal feed supplier in ECOWAS, comprising X% of total exports. The second position in the ranking was taken by Senegal ($X), with a X% share of total exports. It was followed by Ghana, with a X% share.

In Cote d'Ivoire, animal feed exports increased at an average annual rate of X% over the period from 2012-2022. In the other countries, the average annual rates were as follows: Senegal (X% per year) and Ghana (X% per year).

Export Prices by Country

The export price in ECOWAS stood at $X per ton in 2022, dropping by X% against the previous year. Overall, the export price, however, posted a perceptible increase. The most prominent rate of growth was recorded in 2017 when the export price increased by X%. The level of export peaked at $X per ton in 2019; however, from 2020 to 2022, the export prices failed to regain momentum.

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 ($X per ton), while Cote d'Ivoire ($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 a decline in the export price figures.

Animal Feed Imports

Imports in ECOWAS

In 2022, overseas purchases of animal and pet feed decreased by X% to X tons, falling for the second consecutive year after three years of growth. In general, imports, however, recorded a remarkable increase. The most prominent rate of growth was recorded in 2019 with an increase of X% against the previous year. Over the period under review, imports attained the maximum at X tons in 2020; however, from 2021 to 2022, imports failed to regain momentum.

In value terms, animal feed imports fell to $X in 2022. Over the period under review, imports, however, enjoyed a prominent expansion. The pace of growth was the most pronounced in 2013 with an increase of X%. Over the period under review, imports reached the peak figure at $X in 2021, and then declined in the following year.

Imports by Country

Ghana (X tons) and Nigeria (X tons) represented roughly X% of total imports in 2022. Cote d'Ivoire (X tons) ranks next in terms of the total imports with a X% share, followed by Mali (X%), Guinea (X%) and Senegal (X%). Burkina Faso (X tons) followed a long way behind the leaders.

From 2012 to 2022, the most notable rate of growth in terms of purchases, amongst the main importing countries, was attained by Mali (with a CAGR of X%), while imports for the other leaders experienced more modest paces of growth.

In value terms, Nigeria ($X), Ghana ($X) and Cote d'Ivoire ($X) appeared to be the countries with the highest levels of imports in 2022, with a combined X% share of total imports. Mali, Senegal, Guinea and Burkina Faso lagged somewhat behind, together comprising a further X%.

Among the main importing countries, Mali, with a CAGR of X%, recorded the highest rates of growth with regard to the value of imports, over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

In 2022, the import price in ECOWAS amounted to $X per ton, picking up by X% against the previous year. In general, the import price continues to indicate a mild increase. The pace of growth appeared the most rapid in 2013 an increase of X% against the previous year. The level of import peaked at $X per ton in 2014; however, from 2015 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 Nigeria ($X per ton), while Burkina Faso ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Burkina Faso (X%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform

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