ECOWAS: Market for Buttermilk And Buttermilk Powder 2024

Market Size for Buttermilk And Buttermilk Powder in ECOWAS

The ECOWAS buttermilk and buttermilk powder market contracted slightly to $X in 2022, with a decrease of X% against the previous year. In general, consumption, however, saw a relatively flat trend pattern. As a result, consumption reached the peak level of $X. From 2014 to 2022, the growth of the market remained at a somewhat lower figure.

Production of Buttermilk And Buttermilk Powder in ECOWAS

In value terms, buttermilk and buttermilk powder production declined to $X in 2022 estimated in export price. Over the period under review, production, however, continues to indicate a relatively flat trend pattern. The most prominent rate of growth was recorded in 2013 with an increase of X% against the previous year. As a result, production attained the peak level of $X. From 2014 to 2022, production growth failed to regain momentum.

Exports of Buttermilk And Buttermilk Powder

Exports in ECOWAS

In 2022, the amount of buttermilk and buttermilk powder exported in ECOWAS soared to X tons, jumping by X% against 2021. In general, exports continue to indicate strong growth. The pace of growth was the most pronounced in 2016 when exports increased by X% against the previous year. As a result, the exports attained the peak of X tons. From 2017 to 2022, the growth of the exports failed to regain momentum.

In value terms, buttermilk and buttermilk powder exports soared to $X in 2022. Overall, exports recorded a strong increase. The most prominent rate of growth was recorded in 2016 when exports increased by X% against the previous year. As a result, the exports attained the peak of $X. From 2017 to 2022, the growth of the exports failed to regain momentum.

Exports by Country

Niger (X tons) and Benin (X tons) prevails in exports structure, together comprising X% of total exports. Nigeria (X tons) took the next position in the ranking, followed by Ghana (X tons). All these countries together took approx. X% share of total exports. Burkina Faso (X tons) held a little share of total exports.

From 2012 to 2022, the biggest increases were recorded for Niger (with a CAGR of X%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, Niger ($X), Nigeria ($X) and Benin ($X) appeared to be the countries with the highest levels of exports in 2022, with a combined X% share of total exports.

In terms of the main exporting countries, Niger, with a CAGR of X%, saw the highest growth rate of the value of exports, over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

The export price in ECOWAS stood at $X per ton in 2022, surging by X% against the previous year. Overall, the export price, however, recorded a perceptible reduction. The pace of growth was the most pronounced in 2014 when the export price increased by X% against the previous year. Over the period under review, the export prices attained the maximum at $X per ton in 2015; however, from 2016 to 2022, the export prices remained at a lower figure.

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 Nigeria ($X per ton), while Benin ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Nigeria (X%), while the other leaders experienced a decline in the export price figures.

Imports of Buttermilk And Buttermilk Powder

Imports in ECOWAS

In 2022, overseas purchases of buttermilk and buttermilk powder decreased by X% to X tons, falling for the second consecutive year after two years of growth. In general, imports saw a mild decrease. The pace of growth was the most pronounced in 2014 with an increase of X%. Over the period under review, imports hit record highs at X tons in 2020; however, from 2021 to 2022, imports failed to regain momentum.

In value terms, buttermilk and buttermilk powder imports rose notably to $X in 2022. Over the period under review, imports, however, posted measured growth. The growth pace was the most rapid in 2020 with an increase of X%. As a result, imports reached the peak of $X. From 2021 to 2022, the growth of imports failed to regain momentum.

Imports by Country

Nigeria represented the main importer of buttermilk and buttermilk powder in ECOWAS, with the volume of imports resulting at X tons, which was approx. X% of total imports in 2022. It was distantly followed by Ghana (X tons), Togo (X tons), Guinea (X tons) and Cote d'Ivoire (X tons), together comprising a X% share of total imports. Cabo Verde (X tons) and Guinea-Bissau (X tons) took a minor share of total imports.

From 2012 to 2022, average annual rates of growth with regard to buttermilk and buttermilk powder imports into Nigeria stood at X%. At the same time, Guinea (X%), Guinea-Bissau (X%), Cote d'Ivoire (X%) and Ghana (X%) displayed positive paces of growth. Moreover, Guinea emerged as the fastest-growing importer imported in ECOWAS, with a CAGR of X% from 2012-2022. By contrast, Cabo Verde (X%) and Togo (X%) illustrated a downward trend over the same period. From 2012 to 2022, the share of Nigeria, Guinea, Cote d'Ivoire, Ghana and Guinea-Bissau increased by X, X, X, X and X percentage points, respectively.

In value terms, Nigeria ($X) constitutes the largest market for imported buttermilk and buttermilk powder in ECOWAS, comprising X% of total imports. The second position in the ranking was held by Ghana ($X), with a X% share of total imports. It was followed by Cote d'Ivoire, with a X% share.

From 2012 to 2022, the average annual growth rate of value in Nigeria amounted to X%. In the other countries, the average annual rates were as follows: Ghana (X% per year) and Cote d'Ivoire (X% per year).

Import Prices by Country

The import price in ECOWAS stood at $X per ton in 2022, increasing by X% against the previous year. Import price indicated a temperate 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, buttermilk and buttermilk powder import price increased by X% against 2019 indices. The growth pace was the most rapid in 2020 when the import price increased by X%. Over the period under review, import prices hit record highs in 2022 and is expected to retain growth in the immediate term.

Prices varied noticeably by country of destination: amid the top importers, the country with the highest price was Cote d'Ivoire ($X per ton), while Togo ($X per ton) was amongst the lowest.

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

Source: IndexBox Platform

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