ECOWAS: Market for Condensed Or Evaporated Milk (Unsweetened) 2024

Market Size for Condensed Or Evaporated Milk (Unsweetened) in ECOWAS

The ECOWAS market for condensed or evaporated milk (unsweetened) fell sharply to $X in 2022, waning by X% against the previous year. Overall, consumption saw a abrupt setback. The level of consumption peaked at $X in 2014; however, from 2015 to 2022, consumption failed to regain momentum.

Production of Condensed Or Evaporated Milk (Unsweetened) in ECOWAS

In value terms, unsweetened condensed and evaporated milk production reduced to $X in 2022 estimated in export price. Over the period under review, production continues to indicate a buoyant increase. The pace of growth appeared the most rapid in 2015 with an increase of X% against the previous year. As a result, production reached the peak level of $X. From 2016 to 2022, production growth remained at a somewhat lower figure.

Exports of Condensed Or Evaporated Milk (Unsweetened)

Exports in ECOWAS

In 2022, the amount of condensed or evaporated milk (unsweetened) exported in ECOWAS soared to X tons, growing by X% on the previous year. Total exports indicated perceptible growth from 2012 to 2022: its volume 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 decreased by X% against 2020 indices. The pace of growth appeared the most rapid in 2015 with an increase of X%. The volume of export peaked at X tons in 2016; however, from 2017 to 2022, the exports failed to regain momentum.

In value terms, unsweetened condensed and evaporated milk exports soared to $X in 2022. The total export value increased at an average annual rate of X% from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The level of export peaked at $X in 2016; however, from 2017 to 2022, the exports stood at a somewhat lower figure.

Exports by Country

In 2022, Ghana (X tons) represented the major exporter of condensed or evaporated milk (unsweetened), generating X% of total exports. It was distantly followed by Nigeria (X tons), achieving an X% share of total exports. Senegal (X tons) took a little share of total exports.

Ghana was also the fastest-growing in terms of the condensed or evaporated milk (unsweetened) exports, with a CAGR of X% from 2012 to 2022. Nigeria (X%) and Senegal (X%) illustrated a downward trend over the same period. From 2012 to 2022, the share of Ghana increased by X percentage points.

In value terms, Ghana ($X) remains the largest unsweetened condensed and evaporated milk supplier in ECOWAS, comprising X% of total exports. The second position in the ranking was taken by Nigeria ($X), with an X% share of total exports.

In Ghana, unsweetened condensed and evaporated milk 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: Nigeria (X% per year) and Senegal (X% per year).

Export Prices by Country

In 2022, the export price in ECOWAS amounted to $X per ton, growing by X% against the previous year. Over the period from 2012 to 2022, it increased at an average annual rate of X%. The most prominent rate of growth was recorded in 2016 an increase of X%. The level of export peaked in 2022 and is likely to see gradual growth in the near future.

Average prices varied somewhat amongst the major exporting countries. In 2022, 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 Senegal (X%), while the other leaders experienced mixed trends in the export price figures.

Imports of Condensed Or Evaporated Milk (Unsweetened)

Imports in ECOWAS

In 2022, approx. X tons of condensed or evaporated milk (unsweetened) were imported in ECOWAS; which is down by X% on the previous year's figure. Over the period under review, imports saw a abrupt curtailment. The pace of growth appeared the most rapid in 2017 with an increase of X%. As a result, imports reached the peak of X tons. From 2018 to 2022, the growth of imports remained at a lower figure.

In value terms, unsweetened condensed and evaporated milk imports dropped significantly to $X in 2022. Overall, imports showed a deep slump. The pace of growth was the most pronounced in 2019 when imports increased by X%. Over the period under review, imports reached the peak figure at $X in 2014; however, from 2015 to 2022, imports stood at a somewhat lower figure.

Imports by Country

The purchases of the eleven major importers of condensed or evaporated milk (unsweetened), namely Ghana, Gambia, Senegal, Togo, Nigeria, Benin, Cote d'Ivoire, Sierra Leone, Burkina Faso, Guinea and Liberia, represented more than two-thirds of total import.

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, the largest unsweetened condensed and evaporated milk importing markets in ECOWAS were Ghana ($X), Senegal ($X) and Gambia ($X), together accounting for X% of total imports. Cote d'Ivoire, Sierra Leone, Togo, Benin, Nigeria, Guinea, Liberia and Burkina Faso lagged somewhat behind, together comprising a further X%.

Guinea, with a CAGR of X%, saw the highest rates of growth with regard to the value of imports, in terms of 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, approximately equating the previous year. Over the period under review, the import price, however, showed a relatively flat trend pattern. The most prominent rate of growth was recorded in 2021 when the import price increased by X%. The level of import peaked at $X per ton in 2014; however, from 2015 to 2022, import prices failed to regain momentum.

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

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

Source: IndexBox Platform

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