ECOWAS: Breakfast Cereal Market 2024

Breakfast Cereal Market Size in ECOWAS

The ECOWAS breakfast cereal market contracted modestly to $X in 2022, shrinking by X% against the previous year. The total consumption indicated a remarkable increase from 2012 to 2022: its value increased at an average annual rate of X% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, consumption decreased by X% against 2017 indices. The level of consumption peaked at $X in 2017; however, from 2018 to 2022, consumption remained at a lower figure.

Breakfast Cereal Production in ECOWAS

In value terms, breakfast cereal production reduced slightly to $X in 2022 estimated in export price. The total production indicated prominent growth from 2012 to 2022: its value increased at an average annual rate of X% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, production increased by X% against 2020 indices. The most prominent rate of growth was recorded in 2014 when the production volume increased by X%. Over the period under review, production reached the peak level at $X in 2017; however, from 2018 to 2022, production remained at a lower figure.

Breakfast Cereal Exports

Exports in ECOWAS

In 2022, breakfast cereal exports in ECOWAS soared to X tons, jumping by X% against the year before. Overall, exports enjoyed a significant expansion. As a result, the exports reached the peak and are likely to continue growth in the immediate term.

In value terms, breakfast cereal exports soared to $X in 2022. Over the period under review, exports saw significant growth. The growth pace was the most rapid in 2020 with an increase of X%. The level of export peaked in 2022 and is expected to retain growth in years to come.

Exports by Country

Senegal dominates exports structure, amounting to X tons, which was near X% of total exports in 2022. Burkina Faso (X tons) followed a long way behind the leaders.

Exports from Senegal increased at an average annual rate of X% from 2012 to 2022. At the same time, Burkina Faso (X.2%) displayed positive paces of growth. Moreover, Burkina Faso emerged as the fastest-growing exporter exported in ECOWAS, with a CAGR of X.2% from 2012-2022. From 2012 to 2022, the share of Senegal and Burkina Faso increased by X and X percentage points, while the shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Senegal ($X) remains the largest breakfast cereal supplier in ECOWAS, comprising X% of total exports. The second position in the ranking was held by Burkina Faso ($X), with a X% share of total exports.

In Senegal, breakfast cereal exports increased at an average annual rate of X% over the period from 2012-2022.

Export Prices by Country

In 2022, the export price in ECOWAS amounted to $X per ton, shrinking by X% against the previous year. Overall, the export price, however, saw a relatively flat trend pattern. The pace of growth appeared the most rapid in 2020 an increase of X%. The level of export peaked at $X per ton in 2021, and then reduced markedly in the following year.

Prices varied noticeably by country of origin: amid the top suppliers, the country with the highest price was Senegal ($X per ton), while Burkina Faso totaled $X per ton.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Senegal (X%).

Breakfast Cereal Imports

Imports in ECOWAS

In 2022, purchases abroad of breakfast cereals decreased by X% to X tons, falling for the second year in a row after three years of growth. Overall, imports, however, enjoyed a slight increase. The pace of growth was the most pronounced in 2019 with an increase of X% against the previous year. The volume of import peaked at X tons in 2020; however, from 2021 to 2022, imports failed to regain momentum.

In value terms, breakfast cereal imports amounted to $X in 2022. Over the period under review, imports, however, showed a perceptible expansion. The most prominent rate of growth was recorded in 2020 when imports increased by X% against the previous year. As a result, imports attained the peak of $X. From 2021 to 2022, the growth of imports remained at a lower figure.

Imports by Country

In 2022, Nigeria (X tons) and Burkina Faso (X tons) were the main importers of breakfast cereals in ECOWAS, together resulting at near X% of total imports. Senegal (X tons) held a X% share (based on physical terms) of total imports, which put it in second place, followed by Ghana (X%), Guinea (X%) and Togo (X%). The following importers - Sierra Leone (X tons) and Liberia (X tons) - each reached a X% share of total imports.

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

In value terms, Nigeria ($X) constitutes the largest market for imported breakfast cereals in ECOWAS, comprising X% of total imports. The second position in the ranking was taken by Senegal ($X), with a X% share of total imports. It was followed by Guinea, with a X% share.

From 2012 to 2022, the average annual growth rate of value in Nigeria totaled X%. In the other countries, the average annual rates were as follows: Senegal (X% per year) and Guinea (X% per year).

Import Prices by Country

The import price in ECOWAS stood at $X per ton in 2022, growing by X% against the previous year. Import price indicated a moderate expansion from 2012 to 2022: its price increased at an average annual rate of X% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, breakfast cereal import price increased by X% against 2020 indices. The most prominent rate of growth was recorded in 2013 an increase of X%. The level of import peaked at $X per ton in 2016; however, from 2017 to 2022, import prices stood at a somewhat lower figure.

Prices varied noticeably by country of destination: amid the top importers, the country with the highest price was Guinea ($X per ton), while Burkina Faso ($X per ton) was amongst the lowest.

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

Source: IndexBox Platform

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