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Report ECOWAS - Cocoa Butter - Market Analysis, Forecast, Size, Trends and Insights for 499$
Report Update Apr 1, 2024

ECOWAS - Cocoa Butter - Market Analysis, Forecast, Size, Trends and Insights

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ECOWAS: Cocoa Butter Market 2024

Cocoa Butter Market Size in ECOWAS

The ECOWAS cocoa butter market contracted to $X in 2022, remaining stable against the previous year. Overall, consumption saw a relatively flat trend pattern. Over the period under review, the market reached the peak level at $X in 2020; however, from 2021 to 2022, consumption stood at a somewhat lower figure.

Cocoa Butter Production in ECOWAS

In value terms, cocoa butter production rose to $X in 2022 estimated in export price. The total output value increased at an average annual rate of X% over the period from 2012 to 2022; the trend pattern remained consistent, with somewhat noticeable fluctuations being observed throughout the analyzed period. The most prominent rate of growth was recorded in 2013 with an increase of X%. The level of production peaked at $X in 2018; afterwards, it flattened through to 2022.

Cocoa Butter Exports

Exports in ECOWAS

Cocoa butter exports expanded sharply to X tons in 2022, picking up by X% against the previous year. The total export volume 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 pace of growth appeared the most rapid in 2013 with an increase of X% against the previous year. The volume of export peaked in 2022 and is likely to continue growth in the near future.

In value terms, cocoa butter exports expanded to $X in 2022. Total exports indicated a strong 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, exports increased by X% against 2020 indices. The growth pace was the most rapid in 2013 with an increase of X%. The level of export peaked at $X in 2018; however, from 2019 to 2022, the exports failed to regain momentum.

Exports by Country

In 2022, Cote d'Ivoire (X tons) represented the key exporter of cocoa butter, making up X% of total exports. Ghana (X tons) took the second position in the ranking, distantly followed by Nigeria (X tons). All these countries together held approx. X% share of total exports.

From 2012 to 2022, the most notable rate of growth in terms of shipments, amongst the leading exporting countries, was attained by Ghana (with a CAGR of X%), while the other leaders experienced mixed trends in the exports figures.

In value terms, Cote d'Ivoire ($X), Ghana ($X) and Nigeria ($X) were the countries with the highest levels of exports in 2022, together accounting for X% of total exports.

Ghana, with a CAGR of X%, recorded the highest rates of growth with regard to the value of exports, among the main exporting countries over the period under review, while shipments for the other leaders experienced mixed trends in the exports figures.

Export Prices by Country

The export price in ECOWAS stood at $X per ton in 2022, falling by X% against the previous year. Over the last decade, it increased at an average annual rate of X%. The growth pace was the most rapid in 2014 when the export price increased by X%. The level of export peaked at $X per ton in 2020; however, from 2021 to 2022, the export prices stood at a somewhat lower figure.

Prices varied noticeably by country of origin: amid the top suppliers, the country with the highest price was Ghana ($X per ton), while Nigeria ($X per ton) was amongst the lowest.

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

Cocoa Butter Imports

Imports in ECOWAS

In 2022, supplies from abroad of cocoa butter decreased by X% to X tons for the first time since 2016, thus ending a five-year rising trend. Over the period under review, imports showed a deep reduction. The growth pace was the most rapid in 2015 when imports increased by X% against the previous year. Over the period under review, imports reached the maximum at X tons in 2013; however, from 2014 to 2022, imports remained at a lower figure.

In value terms, cocoa butter imports dropped modestly to $X in 2022. Overall, imports showed a abrupt slump. The most prominent rate of growth was recorded in 2013 when imports increased by X%. As a result, imports attained the peak of $X. From 2014 to 2022, the growth of imports remained at a somewhat lower figure.

Imports by Country

In 2022, Ghana (X tons) was the main importer of cocoa butter in ECOWAS, making up X% of total import.

Ghana was also the fastest-growing in terms of the cocoa butter imports, with a CAGR of X% from 2012 to 2022. While the share of Ghana (X p.p.) increased significantly, the shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Ghana ($X) constitutes the largest market for imported cocoa butter in ECOWAS.

From 2012 to 2022, the average annual growth rate of value in Ghana stood at X%.

Import Prices by Country

The import price in ECOWAS stood at $X per ton in 2022, growing by X% against the previous year. In general, the import price, however, saw a noticeable decrease. The pace of growth was the most pronounced in 2013 when the import price increased by X% against the previous year. As a result, import price attained the peak level of $X per ton. From 2014 to 2022, the import prices failed to regain momentum.

As there is only one major supplying country, the average price level is determined by prices for Ghana.

From 2012 to 2022, the rate of growth in terms of prices for Ghana amounted to X% per year.

Source: IndexBox Platform

Frequently Asked Questions (FAQ) :

Nigeria remains the largest cocoa butter consuming country in ECOWAS, comprising approx. 53% of total volume. Moreover, cocoa butter consumption in Nigeria exceeded the figures recorded by the second-largest consumer, Niger, ninefold. The third position in this ranking was held by Cote d'Ivoire, with a 5.5% share.
The countries with the highest volumes of production in 2022 were Cote d'Ivoire, Nigeria and Ghana, together comprising 81% of total production.
In value terms, the largest cocoa butter supplying countries in ECOWAS were Cote d'Ivoire, Ghana and Nigeria, together accounting for 99.9% of total exports.
In value terms, Ghana constitutes the largest market for imported cocoa butter in ECOWAS.
The export price in ECOWAS stood at $4,424 per ton in 2022, dropping by -7.5% against the previous year.
In 2022, the import price in ECOWAS amounted to $2,731 per ton, picking up by 13% against the previous year.

This report provides an in-depth analysis of the cocoa butter market in ECOWAS. 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 664 - Cocoa Butter

Country coverage:

Data coverage:

  • Market volume and value
  • Per Capita consumption
  • Forecast of the market dynamics in the medium term
  • Production in ECOWAS, split by region and country
  • Trade (exports and imports) in ECOWAS
  • 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:

  1. How to diversify your business and benefit from new market opportunities
  2. How to load your idle production capacity
  3. How to boost your sales on overseas markets
  4. How to increase your profit margins
  5. How to make your supply chain more sustainable
  6. How to reduce your production and supply chain costs
  7. How to outsource production to other countries
  8. 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.

  1. 1. INTRODUCTION

    Making Data-Driven Decisions to Grow Your Business

    1. REPORT DESCRIPTION
    2. RESEARCH METHODOLOGY AND AI PLATFORM
    3. DATA-DRIVEN DECISIONS FOR YOUR BUSINESS
    4. GLOSSARY AND SPECIFIC TERMS

  2. 2. EXECUTIVE SUMMARY

    A Quick Overview of Market Performance

    1. KEY FINDINGS
    2. MARKET TRENDS This Chapter is Available Only for the Professional Edition PRO

  3. 3. MARKET OVERVIEW

    Understanding the Current State of The Market and Its Prospects

    1. MARKET SIZE
    2. CONSUMPTION BY COUNTRY
    3. MARKET FORECAST TO 2030

  4. 4. MOST PROMISING PRODUCT

    Finding New Products to Diversify Your Business

    This Chapter is Available Only for the Professional Edition PRO
    1. TOP PRODUCTS TO DIVERSIFY YOUR BUSINESS
    2. BEST-SELLING PRODUCTS
    3. MOST CONSUMED PRODUCT
    4. MOST TRADED PRODUCT
    5. MOST PROFITABLE PRODUCT FOR EXPORT

  5. 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
    1. TOP COUNTRIES TO SOURCE YOUR PRODUCT
    2. TOP PRODUCING COUNTRIES
    3. TOP EXPORTING COUNTRIES
    4. LOW-COST EXPORTING COUNTRIES

  6. 6. MOST PROMISING OVERSEAS MARKETS

    Choosing the Best Countries to Boost Your Exports

    This Chapter is Available Only for the Professional Edition PRO
    1. TOP OVERSEAS MARKETS FOR EXPORTING YOUR PRODUCT
    2. TOP CONSUMING MARKETS
    3. UNSATURATED MARKETS
    4. TOP IMPORTING MARKETS
    5. MOST PROFITABLE MARKETS

  7. 7. PRODUCTION

    The Latest Trends and Insights into The Industry

    1. PRODUCTION VOLUME AND VALUE
    2. PRODUCTION BY COUNTRY

  8. 8. IMPORTS

    The Largest Importers on The Market and How They Succeed

    1. IMPORTS FROM 2012–2023
    2. IMPORTS BY COUNTRY
    3. IMPORT PRICES BY COUNTRY

  9. 9. EXPORTS

    The Largest Exporters on The Market and How They Succeed

    1. EXPORTS FROM 2012–2023
    2. EXPORTS BY COUNTRY
    3. EXPORT PRICES BY COUNTRY

  10. 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. 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
    • Niger
    • Nigeria
    • Senegal
    • Sierra Leone
    • Togo
    • Cote d'Ivoire

  12. LIST OF TABLES

    1. Key Findings In 2023
    2. Market Volume, In Physical Terms, 2012–2023
    3. Market Value, 2012–2023
    4. Per Capita Consumption, By Country, 2018–2023
    5. Production, In Physical Terms, By Country, 2012–2023
    6. Imports, In Physical Terms, By Country, 2012–2023
    7. Imports, In Value Terms, By Country, 2012–2023
    8. Import Prices, By Country Of Destination, 2012–2023
    9. Exports, In Physical Terms, By Country, 2012–2023
    10. Exports, In Value Terms, By Country, 2012–2023
    11. Export Prices, By Country Of Origin, 2012–2023

  13. LIST OF FIGURES

    1. Market Volume, In Physical Terms, 2012–2023
    2. Market Value, 2012–2023
    3. Consumption, By Country, 2023
    4. Market Volume Forecast to 2030
    5. Market Value Forecast to 2030
    6. Products: Market Size And Growth, By Type
    7. Products: Average Per Capita Consumption, By Type
    8. Products: Exports And Growth, By Type
    9. Products: Export Prices And Growth, By Type
    10. Production Volume And Growth
    11. Exports And Growth
    12. Export Prices And Growth
    13. Market Size And Growth
    14. Per Capita Consumption
    15. Imports And Growth
    16. Import Prices
    17. Production, In Physical Terms, 2012–2023
    18. Production, In Value Terms, 2012–2023
    19. Production, By Country, 2023
    20. Production, In Physical Terms, By Country, 2012–2023
    21. Imports, In Physical Terms, 2012–2023
    22. Imports, In Value Terms, 2012–2023
    23. Imports, In Physical Terms, By Country, 2023
    24. Imports, In Physical Terms, By Country, 2012–2023
    25. Imports, In Value Terms, By Country, 2012–2023
    26. Import Prices, By Country, 2012–2023
    27. Exports, In Physical Terms, 2012–2023
    28. Exports, In Value Terms, 2012–2023
    29. Exports, In Physical Terms, By Country, 2023
    30. Exports, In Physical Terms, By Country, 2012–2023
    31. Exports, In Value Terms, By Country, 2012–2023
    32. Export Prices, 2012–2023

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