ECOWAS: Market for Colouring Matter Of Vegetable Or Animal Origin 2024

Market Size for Colouring Matter Of Vegetable Or Animal Origin in ECOWAS

The ECOWAS market for colouring matter of vegetable or animal origin shrank modestly to $X in 2022, remaining stable against the previous year. Over the period under review, consumption, however, enjoyed a resilient increase. The level of consumption peaked at $X in 2019; however, from 2020 to 2022, consumption stood at a somewhat lower figure.

Production of Colouring Matter Of Vegetable Or Animal Origin in ECOWAS

In value terms, vegetable or animal colouring matter production reduced to $X in 2022 estimated in export price. Overall, production, however, recorded a strong expansion. The growth pace was the most rapid in 2016 with an increase of X% against the previous year. The level of production peaked at $X in 2019; however, from 2020 to 2022, production stood at a somewhat lower figure.

Exports of Colouring Matter Of Vegetable Or Animal Origin

Exports in ECOWAS

In 2022, overseas shipments of colouring matter of vegetable or animal origin decreased by X% to X tons, falling for the third consecutive year after two years of growth. In general, exports showed a drastic downturn. The growth pace was the most rapid in 2013 when exports increased by X% against the previous year. Over the period under review, the exports hit record highs at X tons in 2019; however, from 2020 to 2022, the exports remained at a lower figure.

In value terms, vegetable or animal colouring matter exports plummeted to $X in 2022. Over the period under review, exports faced a significant decrease. The growth pace was the most rapid in 2013 with an increase of X%. Over the period under review, the exports attained the peak figure at $X in 2017; however, from 2018 to 2022, the exports stood at a somewhat lower figure.

Exports by Country

Ghana was the largest exporter of colouring matter of vegetable or animal origin in ECOWAS, with the volume of exports amounting to X tons, which was near X% of total exports in 2022. It was distantly followed by Cote d'Ivoire (X tons), Nigeria (X tons), Mali (X tons) and Niger (X tons), together creating a X% share of total exports.

Exports from Ghana decreased at an average annual rate of X% from 2012 to 2022. At the same time, Mali (X%) displayed positive paces of growth. Moreover, Mali emerged as the fastest-growing exporter exported in ECOWAS, with a CAGR of X% from 2012-2022. By contrast, Niger (X%), Nigeria (X%) and Cote d'Ivoire (X%) illustrated a downward trend over the same period. While the share of Ghana (X p.p.), Mali (X p.p.), Nigeria (X p.p.) and Niger (X p.p.) increased significantly in terms of the total exports from 2012-2022, the share of Cote d'Ivoire (X p.p.) displayed negative dynamics.

In value terms, the largest vegetable or animal colouring matter supplying countries in ECOWAS were Niger ($X), Nigeria ($X) and Mali ($X), with a combined X% share of total exports.

Among the main exporting countries, Niger, with a CAGR of X%, recorded the highest rates of growth with regard to the value of exports, 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, waning by X% against the previous year. In general, the export price showed a deep setback. The growth pace was the most rapid in 2021 when the export price increased by X%. The level of export peaked at $X per ton in 2012; however, from 2013 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 Niger ($X per ton), while Cote d'Ivoire ($X per ton) was amongst the lowest.

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

Imports of Colouring Matter Of Vegetable Or Animal Origin

Imports in ECOWAS

In 2022, purchases abroad of colouring matter of vegetable or animal origin decreased by X% to X tons, falling for the second year in a row after five years of growth. Over the period under review, imports, however, continue to indicate a remarkable increase. The pace of growth was the most pronounced in 2017 when imports increased by X%. The volume of import peaked at X tons in 2020; however, from 2021 to 2022, imports remained at a lower figure.

In value terms, vegetable or animal colouring matter imports dropped rapidly to $X in 2022. Overall, imports, however, continue to indicate a strong increase. The pace of growth was the most pronounced in 2017 when imports increased by X%. Over the period under review, imports reached the peak figure at $X in 2021, and then reduced notably in the following year.

Imports by Country

Senegal represented the key importing country with an import of about X tons, which recorded X% of total imports. Nigeria (X tons) held the second position in the ranking, followed by Ghana (X tons), Niger (X tons), Cote d'Ivoire (X tons) and Cabo Verde (X tons). All these countries together took near X% share of total imports.

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

In value terms, the largest vegetable or animal colouring matter importing markets in ECOWAS were Senegal ($X), Ghana ($X) and Nigeria ($X), with a combined X% share of total imports.

Ghana, with a CAGR of X%, recorded the highest growth rate of the value of imports, among the main importing countries 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, reducing by X% against the previous year. Import price indicated a resilient 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, vegetable or animal colouring matter import price increased by X% against 2018 indices. The pace of growth appeared the most rapid in 2019 when the import price increased by X% against the previous year. Over the period under review, import prices reached the peak figure at $X per ton in 2021, and then dropped in the following year.

There were significant differences in the average prices amongst the major importing countries. In 2022, amid the top importers, the country with the highest price was Ghana ($X per ton), while Cabo Verde ($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 more modest paces of growth.

Source: IndexBox Platform

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