ECOWAS: Ice Cream Market 2024

Ice Cream Market Size in ECOWAS

In 2022, the ECOWAS ice cream market was finally on the rise to reach $X after two years of decline. The total consumption indicated moderate growth 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. As a result, consumption reached the peak level of $X. From 2018 to 2022, the growth of the market remained at a lower figure.

Ice Cream Production in ECOWAS

In value terms, ice cream production fell modestly to $X in 2022 estimated in export price. The total production indicated modest growth 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 increased by X% against 2020 indices. The pace of growth was the most pronounced in 2017 when the production volume increased by X%. As a result, production attained the peak level of $X. From 2018 to 2022, production growth remained at a somewhat lower figure.

Ice Cream Exports

Exports in ECOWAS

In 2022, exports of ice cream in ECOWAS dropped rapidly to X tons, which is down by X% compared with the year before. In general, exports recorded a mild shrinkage. The growth pace was the most rapid in 2021 with an increase of X%. Over the period under review, the exports reached the peak figure at X tons in 2017; however, from 2018 to 2022, the exports failed to regain momentum.

In value terms, ice cream exports fell to $X in 2022. Over the period under review, exports, however, showed a relatively flat trend pattern. The most prominent rate of growth was recorded in 2017 with an increase of X% against the previous year. As a result, the exports attained the peak of $X. From 2018 to 2022, the growth of the exports remained at a lower figure.

Exports by Country

Ghana dominates exports structure, amounting to X tons, which was approx. X% of total exports in 2022. It was distantly followed by Togo (X tons), making up a X% share of total exports. Senegal (X tons) took a relatively small share of total exports.

Ghana was also the fastest-growing in terms of the ice cream exports, with a CAGR of X% from 2012 to 2022. At the same time, Senegal (X%) displayed positive paces of growth. By contrast, Togo (X%) illustrated a downward trend over the same period. From 2012 to 2022, the share of Ghana and Senegal increased by X and X percentage points, respectively.

In value terms, Ghana ($X) remains the largest ice cream supplier in ECOWAS, comprising X% of total exports. The second position in the ranking was held by Senegal ($X), with a X% share of total exports.

In Ghana, ice cream exports increased at an average annual rate of X% over the period from 2012-2022. The remaining exporting countries recorded the following average annual rates of exports growth: Senegal (X% per year) and Togo (X% per year).

Export Prices by Country

The export price in ECOWAS stood at $X per ton in 2022, with an increase of X% against the previous year. Export price indicated a mild expansion 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, ice cream export price decreased by X% against 2020 indices. The pace of growth appeared the most rapid in 2020 when the export price increased by X%. As a result, the export price attained the peak level of $X per ton. From 2021 to 2022, the export prices failed to regain momentum.

There were significant differences in the average prices amongst the major exporting countries. In 2022, amid the top suppliers, the country with the highest price was Senegal ($X per ton), while Togo ($X per ton) was amongst the lowest.

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

Ice Cream Imports

Imports in ECOWAS

In 2022, approx. X tons of ice cream were imported in ECOWAS; rising by X% on 2021 figures. Total imports indicated a strong expansion 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, imports increased by X% against 2020 indices. The pace of growth was the most pronounced in 2021 with an increase of X%. The volume of import peaked in 2022 and is likely to continue growth in the immediate term.

In value terms, ice cream imports rose slightly to $X in 2022. Total imports indicated a temperate 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, imports increased by X% against 2020 indices. The pace of growth was the most pronounced in 2018 when imports increased by X% against the previous year. The level of import peaked in 2022 and is expected to retain growth in the immediate term.

Imports by Country

In 2022, Cote d'Ivoire (X tons) represented the key importer of ice cream, constituting X% of total imports. Benin (X tons) took a X% share (based on physical terms) of total imports, which put it in second place, followed by Burkina Faso (X%), Senegal (X%), Nigeria (X%) and Mali (X%). Gambia (X tons) followed a long way behind the leaders.

From 2012 to 2022, average annual rates of growth with regard to ice cream imports into Cote d'Ivoire stood at X%. At the same time, Mali (X%), Gambia (X%), Nigeria (X%), Senegal (X%) and Benin (X%) displayed positive paces of growth. Moreover, Mali emerged as the fastest-growing importer imported in ECOWAS, with a CAGR of X% from 2012-2022. By contrast, Burkina Faso (X%) illustrated a downward trend over the same period. Cote d'Ivoire (X p.p.), Mali (X p.p.) and Gambia (X p.p.) significantly strengthened its position in terms of the total imports, while Senegal, Benin and Burkina Faso saw its share reduced by 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, Cote d'Ivoire ($X), Senegal ($X) and Mali ($X) appeared to be the countries with the highest levels of imports in 2022, with a combined X% share of total imports.

Mali, 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 2022, falling by X% against the previous year. In general, the import price saw a pronounced decrease. The pace of growth appeared the most rapid in 2020 an increase of X% against the previous year. As a result, import price reached the peak level of $X per ton. From 2021 to 2022, the import prices failed to regain momentum.

Prices varied noticeably by country of destination: amid the top importers, the country with the highest price was Senegal ($X per ton), while Burkina Faso ($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 mixed trends in the import price figures.

Source: IndexBox Platform

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