ECOWAS: Market for Frozen Crabs And Crabs Meat 2024

Market Size for Frozen Crabs And Crabs Meat in ECOWAS

In 2023, the ECOWAS market for frozen crabs and crabs meat was finally on the rise to reach $X after two years of decline. In general, consumption showed a relatively flat trend pattern. The level of consumption peaked at $X in 2013; however, from 2014 to 2023, consumption stood at a somewhat lower figure.

Production of Frozen Crabs And Crabs Meat in ECOWAS

In value terms, frozen crab and crab meat production expanded markedly to $X in 2023 estimated in export price. The total production indicated a prominent expansion from 2012 to 2023: its value increased at an average annual rate of X% over the last eleven years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2023 figures, production decreased by X% against 2021 indices. The pace of growth was the most pronounced in 2013 with an increase of X%. Over the period under review, production attained the maximum level at $X in 2021; however, from 2022 to 2023, production remained at a lower figure.

Exports of Frozen Crabs And Crabs Meat

Exports in ECOWAS

In 2023, frozen crab and crab meat exports in ECOWAS dropped modestly to X tons, which is down by X% against the year before. Total exports indicated a noticeable expansion from 2012 to 2023: its volume increased at an average annual rate of X% over the last eleven years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2023 figures, exports decreased by X% against 2019 indices. The most prominent rate of growth was recorded in 2019 with an increase of X%. As a result, the exports attained the peak of X tons. From 2020 to 2023, the growth of the exports remained at a somewhat lower figure.

In value terms, frozen crab and crab meat exports stood at $X in 2023. Total exports indicated a perceptible increase from 2012 to 2023: its value increased at an average annual rate of X% over the last eleven years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2023 figures, exports decreased by X% against 2021 indices. The most prominent rate of growth was recorded in 2019 with an increase of X% against the previous year. Over the period under review, the exports hit record highs at $X in 2021; however, from 2022 to 2023, the exports remained at a lower figure.

Exports by Country

Senegal was the main exporting country with an export of about X tons, which resulted at X% of total exports. Nigeria (X tons) held a X% share (based on physical terms) of total exports, which put it in second place, followed by Gambia (X%).

From 2012 to 2023, the biggest increases were recorded for Gambia (with a CAGR of X%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, Senegal ($X) remains the largest frozen crab and crab meat supplier in ECOWAS, comprising X% of total exports. The second position in the ranking was taken by Nigeria ($X), with a X% share of total exports.

From 2012 to 2023, the average annual growth rate of value in Senegal amounted to X%. In the other countries, the average annual rates were as follows: Nigeria (X% per year) and Gambia (X% per year).

Export Prices by Country

In 2023, the export price in ECOWAS amounted to $X per ton, with an increase of X% against the previous year. In general, the export price, however, recorded a relatively flat trend pattern. The growth pace was the most rapid in 2021 when the export price increased by X% against the previous year. Over the period under review, the export prices reached the peak figure at $X per ton in 2012; however, from 2013 to 2023, the export prices remained at a lower figure.

Average prices varied noticeably amongst the major exporting countries. In 2023, amid the top suppliers, the country with the highest price was Senegal ($X per ton), while Gambia ($X per ton) was amongst the lowest.

From 2012 to 2023, the most notable rate of growth in terms of prices was attained by Gambia (X%), while the other leaders experienced mixed trends in the export price figures.

Imports of Frozen Crabs And Crabs Meat

Imports in ECOWAS

In 2023, frozen crab and crab meat imports in ECOWAS contracted notably to X tons, dropping by X% compared with the year before. Overall, imports showed a abrupt slump. The pace of growth was the most pronounced in 2022 when imports increased by X%. Over the period under review, imports attained the peak figure at X tons in 2012; however, from 2013 to 2023, imports stood at a somewhat lower figure.

In value terms, frozen crab and crab meat imports fell significantly to $X in 2023. In general, imports faced a deep setback. The growth pace was the most rapid in 2019 when imports increased by X%. Over the period under review, imports attained the peak figure at $X in 2012; however, from 2013 to 2023, imports stood at a somewhat lower figure.

Imports by Country

In 2023, Senegal (X tons) was the key importer of frozen crabs and crabs meat, achieving X% of total imports. Cote d'Ivoire (X tons) took a X% share (based on physical terms) of total imports, which put it in second place, followed by Ghana (X%), Nigeria (X%) and Liberia (X%). The following importers - Mali (X kg) and Cabo Verde (X kg) - together made up X% of total imports.

Senegal was also the fastest-growing in terms of the frozen crabs and crabs meat imports, with a CAGR of X% from 2012 to 2023. At the same time, Cote d'Ivoire (X%), Liberia (X%), Mali (X%), Cabo Verde (X%) and Ghana (X%) displayed positive paces of growth. By contrast, Nigeria (X%) illustrated a downward trend over the same period. Senegal (X p.p.), Cote d'Ivoire (X p.p.), Ghana (X p.p.), Liberia (X p.p.), Mali (X p.p.) and Cabo Verde (X p.p.) significantly strengthened its position in terms of the total imports, while Nigeria saw its share reduced by X% from 2012 to 2023, respectively.

In value terms, Senegal ($X), Cote d'Ivoire ($X) and Nigeria ($X) appeared to be the countries with the highest levels of imports in 2023, with a combined X% share of total imports. Ghana, Liberia, Cabo Verde and Mali lagged somewhat behind, together accounting for a further X%.

Liberia, 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

The import price in ECOWAS stood at $X per ton in 2023, with an increase of X% against the previous year. Overall, the import price, however, showed a deep slump. The most prominent rate of growth was recorded in 2018 when the import price increased by X%. The level of import peaked at $X per ton in 2014; however, from 2015 to 2023, import prices remained at a lower figure.

There were significant differences in the average prices amongst the major importing countries. In 2023, amid the top importers, the country with the highest price was Cabo Verde ($X per ton), while Senegal ($X per ton) was amongst the lowest.

From 2012 to 2023, the most notable rate of growth in terms of prices was attained by Cabo Verde (X%), while the other leaders experienced a decline in the import price figures.

Source: IndexBox Platform