ECOWAS: Frozen Cuttlefishes Market 2024

Frozen Cuttlefishes Market Size in ECOWAS

The ECOWAS frozen cuttlefishes market surged to $X in 2022, increasing by X% against the previous year. In general, consumption recorded a buoyant increase. Over the period under review, the market attained the peak level in 2022 and is likely to see gradual growth in years to come.

Frozen Cuttlefishes Production in ECOWAS

In value terms, frozen cuttlefishes production amounted to $X in 2022 estimated in export price. The total production indicated a resilient expansion 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, production decreased by X% against 2020 indices. The growth pace was the most rapid in 2014 with an increase of X% against the previous year. The level of production peaked at $X in 2020; however, from 2021 to 2022, production stood at a somewhat lower figure.

Frozen Cuttlefishes Exports

Exports in ECOWAS

In 2022, overseas shipments of frozen cuttlefishes decreased by X% to X tons, falling for the third consecutive year after three years of growth. Over the period under review, exports recorded a abrupt setback. The pace of growth appeared the most rapid in 2013 when exports increased by X% against the previous year. Over the period under review, the exports reached the maximum at X tons in 2019; however, from 2020 to 2022, the exports failed to regain momentum.

In value terms, frozen cuttlefishes exports dropped remarkably to $X in 2022. In general, exports showed a abrupt contraction. The pace of growth was the most pronounced in 2018 with an increase of X%. Over the period under review, the exports reached the peak figure at $X in 2019; however, from 2020 to 2022, the exports failed to regain momentum.

Exports by Country

In 2022, Senegal (X tons) represented the largest exporter of frozen cuttlefishes, achieving X% of total exports. It was distantly followed by Cote d'Ivoire (X tons), constituting a X% share of total exports. Gambia (X tons) took a relatively small share of total exports.

From 2012 to 2022, average annual rates of growth with regard to frozen cuttlefishes exports from Senegal stood at X%. At the same time, Cote d'Ivoire (X%) displayed positive paces of growth. Moreover, Cote d'Ivoire emerged as the fastest-growing exporter exported in ECOWAS, with a CAGR of X% from 2012-2022. By contrast, Gambia (X%) illustrated a downward trend over the same period. While the share of Cote d'Ivoire (X p.p.) increased significantly in terms of the total exports from 2012-2022, the share of Gambia (X p.p.) and Senegal (X p.p.) displayed negative dynamics.

In value terms, Senegal ($X) remains the largest frozen cuttlefishes supplier in ECOWAS, comprising X% of total exports. The second position in the ranking was taken by Cote d'Ivoire ($X), with an X% share of total exports.

In Senegal, frozen cuttlefishes exports decreased by an average annual rate of X% over the period from 2012-2022. In the other countries, the average annual rates were as follows: Cote d'Ivoire (X% per year) and Gambia (X% per year).

Export Prices by Country

The export price in ECOWAS stood at $X per ton in 2022, declining by X% against the previous year. In general, the export price continues to indicate a pronounced downturn. The pace of growth appeared the most rapid in 2014 an increase of X%. Over the period under review, the export prices hit record highs at $X per ton in 2018; however, from 2019 to 2022, the export prices failed to regain momentum.

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

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

Frozen Cuttlefishes Imports

Imports in ECOWAS

Frozen cuttlefishes imports dropped significantly to X tons in 2022, waning by X% on 2021 figures. In general, imports continue to indicate a slight descent. The pace of growth was the most pronounced in 2013 when imports increased by X% against the previous year. As a result, imports reached the peak of X tons. From 2014 to 2022, the growth of imports remained at a lower figure.

In value terms, frozen cuttlefishes imports dropped rapidly to $X in 2022. Overall, imports, however, continue to indicate a mild expansion. The pace of growth appeared the most rapid in 2013 with an increase of X% against the previous year. As a result, imports reached the peak of $X. From 2014 to 2022, the growth of imports failed to regain momentum.

Imports by Country

Senegal dominates imports structure, finishing at X tons, which was approx. X% of total imports in 2022. It was distantly followed by Cabo Verde (X tons), committing a X% share of total imports.

Senegal was also the fastest-growing in terms of the frozen cuttlefishes imports, with a CAGR of X% from 2012 to 2022. Cabo Verde (X%) illustrated a downward trend over the same period. While the share of Senegal (X p.p.) increased significantly in terms of the total imports from 2012-2022, the share of Cabo Verde (X p.p.) displayed negative dynamics.

In value terms, Senegal ($X) constitutes the largest market for imported frozen cuttlefishes in ECOWAS, comprising X% of total imports. The second position in the ranking was taken by Cabo Verde ($X), with a X% share of total imports.

From 2012 to 2022, the average annual growth rate of value in Senegal totaled X%.

Import Prices by Country

The import price in ECOWAS stood at $X per ton in 2022, surging by X% against the previous year. Import price indicated pronounced growth 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, frozen cuttlefishes import price increased by X% against 2020 indices. The most prominent rate of growth was recorded in 2019 an increase of X% against the previous year. As a result, import price attained the peak level of $X per ton. From 2020 to 2022, the import prices remained at a somewhat lower figure.

Prices varied noticeably by country of destination: amid the top importers, the country with the highest price was Cabo Verde ($X per ton), while Senegal amounted to $X per ton.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Cabo Verde (X%).

Source: IndexBox Platform

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