ECOWAS: Market for Frozen, Dried And Smoked Fish 2024

Market Size for Frozen, Dried And Smoked Fish in ECOWAS

The ECOWAS market for frozen, dried and smoked fish rose modestly to $X in 2023, picking up by X% against the previous year. The total consumption indicated a pronounced expansion from 2012 to 2023: its value increased at an average annual rate of X% over the last eleven-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2023 figures, consumption decreased by X% against 2021 indices. Over the period under review, the market reached the peak level at $X in 2021; however, from 2022 to 2023, consumption remained at a lower figure.

Production of Frozen, Dried And Smoked Fish in ECOWAS

In value terms, frozen, dried and smoked fish production expanded slightly to $X in 2023 estimated in export price. The total production indicated a notable 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 appeared the most rapid in 2016 when the production volume increased by X%. The level of production peaked at $X in 2021; however, from 2022 to 2023, production remained at a lower figure.

Exports of Frozen, Dried And Smoked Fish

Exports in ECOWAS

Frozen, dried and smoked fish exports surged to X tons in 2023, jumping by X% on the year before. Total exports indicated a prominent increase 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 increased by X% against 2019 indices. The pace of growth was the most pronounced in 2013 with an increase of X% against the previous year. The volume of export peaked in 2023 and is expected to retain growth in years to come.

In value terms, frozen, dried and smoked fish exports expanded to $X in 2023. Overall, exports, however, recorded a mild descent. The most prominent rate of growth was recorded in 2017 when exports increased by X% against the previous year. The level of export peaked at $X in 2012; however, from 2013 to 2023, the exports failed to regain momentum.

Exports by Country

In 2023, Senegal (X tons) represented the key exporter of frozen, dried and smoked fish, mixing up X% of total exports. It was distantly followed by Guinea (X tons), Ghana (X tons) and Guinea-Bissau (X tons), together committing a X% share of total exports. Sierra Leone (X tons) and Cabo Verde (X tons) held a minor share of total exports.

From 2012 to 2023, average annual rates of growth with regard to frozen, dried and smoked fish exports from Senegal stood at X%. At the same time, Cabo Verde (X%), Sierra Leone (X%), Guinea-Bissau (X%), Ghana (X%) and Guinea (X%) displayed positive paces of growth. Moreover, Cabo Verde emerged as the fastest-growing exporter exported in ECOWAS, with a CAGR of X% from 2012-2023. While the share of Senegal (X p.p.), Sierra Leone (X p.p.) and Cabo Verde (X p.p.) increased significantly in terms of the total exports from 2012-2023, the share of Ghana (X p.p.) and Guinea (X p.p.) displayed negative dynamics. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Senegal ($X) remains the largest frozen, dried and smoked fish supplier in ECOWAS, comprising X% of total exports. The second position in the ranking was taken by Guinea ($X), with a X% share of total exports. It was followed by Ghana, with a X% share.

In Senegal, frozen, dried and smoked fish exports expanded at an average annual rate of X% over the period from 2012-2023. In the other countries, the average annual rates were as follows: Guinea (X% per year) and Ghana (X% per year).

Export Prices by Country

In 2023, the export price in ECOWAS amounted to $X per ton, falling by X% against the previous year. Over the period under review, the export price recorded a abrupt contraction. The pace of growth appeared the most rapid in 2018 when the export price increased by X%. Over the period under review, the export prices attained the peak figure at $X per ton in 2012; however, from 2013 to 2023, the export prices remained at a lower figure.

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

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

Imports of Frozen, Dried And Smoked Fish

Imports in ECOWAS

In 2023, overseas purchases of frozen, dried and smoked fish increased by X% to X tons for the first time since 2020, thus ending a two-year declining trend. Total imports indicated a prominent increase 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. The growth pace was the most rapid in 2017 with an increase of X%. Over the period under review, imports reached the peak figure in 2023 and are likely to see gradual growth in years to come.

In value terms, frozen, dried and smoked fish imports reduced modestly to $X in 2023. In general, imports showed a relatively flat trend pattern. The growth pace was the most rapid in 2020 when imports increased by X% against the previous year. The level of import peaked at $X in 2021; however, from 2022 to 2023, imports failed to regain momentum.

Imports by Country

Cote d'Ivoire was the largest importer of frozen, dried and smoked fish in ECOWAS, with the volume of imports resulting at X tons, which was approx. X% of total imports in 2023. It was distantly followed by Nigeria (X tons), Burkina Faso (X tons), Ghana (X tons), Benin (X tons) and Mali (X tons), together generating a X% share of total imports. Togo (X tons) followed a long way behind the leaders.

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

In value terms, the largest frozen, dried and smoked fish importing markets in ECOWAS were Cote d'Ivoire ($X), Nigeria ($X) and Ghana ($X), together accounting for X% of total imports. Benin, Mali, Togo and Burkina Faso lagged somewhat behind, together comprising a further X%.

Mali, with a CAGR of X%, saw the highest growth rate of 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

The import price in ECOWAS stood at $X per ton in 2023, dropping by X% against the previous year. Overall, the import price saw a pronounced decline. The most prominent rate of growth was recorded in 2020 an increase of X% against the previous year. Over the period under review, import prices attained the maximum at $X per ton in 2012; however, from 2013 to 2023, import prices failed to regain momentum.

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 Nigeria ($X per ton), while Burkina Faso ($X per ton) was amongst the lowest.

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

Source: IndexBox Platform