ECOWAS: Frozen Vegetable Market 2024

Frozen Vegetable Market Size in ECOWAS

The ECOWAS frozen vegetable market surged to $X in 2022, increasing by X% against the previous year. The total consumption indicated a prominent increase 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, consumption decreased by X% against 2020 indices. Over the period under review, the market reached the maximum level at $X in 2020; however, from 2021 to 2022, consumption remained at a lower figure.

Frozen Vegetable Production in ECOWAS

In value terms, frozen vegetable production expanded markedly to $X in 2022 estimated in export price. Overall, production continues to indicate a prominent increase. The most prominent rate of growth was recorded in 2020 when the production volume increased by X%. As a result, production attained the peak level of $X. From 2021 to 2022, production growth failed to regain momentum.

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Frozen Vegetable Exports

Exports in ECOWAS

In 2022, shipments abroad of frozen vegetables increased by X% to X tons, rising for the second consecutive year after two years of decline. Total exports indicated noticeable 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 increased by X% against 2020 indices. The most prominent rate of growth was recorded in 2018 with an increase of X% against the previous year. As a result, the exports attained the peak of X tons. From 2019 to 2022, the growth of the exports remained at a somewhat lower figure.

In value terms, frozen vegetable exports reduced dramatically to $X in 2022. Over the period under review, exports, however, saw a noticeable reduction. The most prominent rate of growth was recorded in 2013 when exports increased by X%. The level of export peaked at $X in 2014; however, from 2015 to 2022, the exports remained at a lower figure.

Exports by Country

Cote d'Ivoire prevails in exports structure, reaching X tons, which was near X% of total exports in 2022. Senegal (X tons) took a X% share (based on physical terms) of total exports, which put it in second place, followed by Ghana (X%). Mali (X tons), Togo (X tons) and Burkina Faso (X tons) took a minor share of total exports.

Cote d'Ivoire was also the fastest-growing in terms of the frozen vegetables exports, with a CAGR of X% from 2012 to 2022. At the same time, Togo (X%) displayed positive paces of growth. By contrast, Mali (X%), Senegal (X%), Ghana (X%) and Burkina Faso (X%) illustrated a downward trend over the same period. Cote d'Ivoire (X p.p.) significantly strengthened its position in terms of the total exports, while Mali, Ghana, Senegal and Burkina Faso saw its share reduced by X%, X%, X% and X% from 2012 to 2022, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Senegal ($X), Cote d'Ivoire ($X) and Ghana ($X) were the countries with the highest levels of exports in 2022, with a combined X% share of total exports.

Among the main exporting countries, Cote d'Ivoire, with a CAGR of X%, saw 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, shrinking by X% against the previous year. Over the period under review, the export price recorded a abrupt slump. The growth pace was the most rapid in 2013 an increase of X%. The level of export peaked at $X per ton in 2014; however, from 2015 to 2022, 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 Senegal ($X per ton), while Cote d'Ivoire ($X per ton) was amongst the lowest.

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

Frozen Vegetable Imports

Imports in ECOWAS

Frozen vegetable imports surged to X tons in 2022, jumping by X% compared with the previous year. In general, imports recorded a buoyant expansion. The pace of growth was the most pronounced in 2016 when imports increased by X% against the previous year. As a result, imports reached the peak of X tons. From 2017 to 2022, the growth of imports failed to regain momentum.

In value terms, frozen vegetable imports skyrocketed to $X in 2022. Overall, imports enjoyed a resilient expansion. The most prominent rate of growth was recorded in 2016 when imports increased by X%. As a result, imports reached the peak of $X. From 2017 to 2022, the growth of imports failed to regain momentum.

Imports by Country

Nigeria was the largest importing country with an import of around X tons, which accounted for X% of total imports. It was distantly followed by Senegal (X tons), Ghana (X tons), Burkina Faso (X tons) and Cabo Verde (X tons), together generating a X% share of total imports. Cote d'Ivoire (X tons), Sierra Leone (X tons), Benin (X tons), Liberia (X tons), Mali (X tons), Gambia (X tons) and Niger (X tons) followed a long way behind the leaders.

From 2012 to 2022, average annual rates of growth with regard to frozen vegetable imports into Nigeria stood at X%. At the same time, Burkina Faso (X%), Sierra Leone (X%), Niger (X%), Ghana (X%), Senegal (X%), Liberia (X%), Cote d'Ivoire (X%), Cabo Verde (X%), Mali (X%), Benin (X%) and Gambia (X%) displayed positive paces of growth. Moreover, Burkina Faso emerged as the fastest-growing importer imported in ECOWAS, with a CAGR of X% from 2012-2022. From 2012 to 2022, the share of Nigeria, Burkina Faso and Sierra Leone increased by X, X and X percentage points, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Nigeria ($X) constitutes the largest market for imported frozen vegetables in ECOWAS, comprising X% of total imports. The second position in the ranking was taken by Senegal ($X), with a X% share of total imports. It was followed by Ghana, with an X% share.

In Nigeria, frozen vegetable imports increased at an average annual rate of X% over the period from 2012-2022. The remaining importing countries recorded the following average annual rates of imports growth: Senegal (X% per year) and Ghana (X% per year).

Import Prices by Country

In 2022, the import price in ECOWAS amounted to $X per ton, surging by X% against the previous year. Over the period under review, the import price continues to indicate a relatively flat trend pattern. The growth pace was the most rapid in 2016 an increase of X% against the previous year. As a result, import price reached the peak level of $X per ton. From 2017 to 2022, the import prices remained at a lower figure.

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

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

Source: IndexBox Platform

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