ECOWAS: Feedstuff Preparing Machinery Market 2024

Feedstuff Preparing Machinery Market Size in ECOWAS

In 2022, the ECOWAS feedstuff preparing machinery market increased by X% to $X, rising for the second consecutive year after four years of decline. Over the period under review, consumption, however, saw a remarkable increase. The level of consumption peaked at $X in 2016; however, from 2017 to 2022, consumption failed to regain momentum.

Feedstuff Preparing Machinery Production in ECOWAS

In value terms, feedstuff preparing machinery production declined slightly to $X in 2022 estimated in export price. In general, production, however, saw a resilient expansion. The pace of growth appeared the most rapid in 2014 with an increase of X%. The level of production peaked at $X in 2016; however, from 2017 to 2022, production failed to regain momentum.

Feedstuff Preparing Machinery Exports

Exports in ECOWAS

In 2022, exports of machinery for preparing animal feedstuffs in ECOWAS declined markedly to X units, dropping by X% compared with 2021. Overall, exports, however, saw a significant expansion. The most prominent rate of growth was recorded in 2021 with an increase of X%. As a result, the exports attained the peak of X units, and then reduced dramatically in the following year.

In value terms, feedstuff preparing machinery exports contracted significantly to $X in 2022. Over the period under review, exports, however, recorded a significant expansion. The pace of growth appeared the most rapid in 2019 with an increase of X% against the previous year. The level of export peaked at $X in 2014; however, from 2015 to 2022, the exports failed to regain momentum.

Exports by Country

Nigeria represented the major exporting country with an export of about X units, which amounted to X% of total exports. Senegal (X units) ranks second in terms of the total exports with a X% share, followed by Cote d'Ivoire (X%). Ghana (X units) followed a long way behind the leaders.

Nigeria was also the fastest-growing in terms of the machinery for preparing animal feedstuffs exports, with a CAGR of X% from 2012 to 2022. At the same time, Senegal (X%) displayed positive paces of growth. Ghana experienced a relatively flat trend pattern. By contrast, Cote d'Ivoire (X%) illustrated a downward trend over the same period. From 2012 to 2022, the share of Nigeria, Senegal and Cote d'Ivoire increased by X, X and X percentage points, respectively.

In value terms, the largest feedstuff preparing machinery supplying countries in ECOWAS were Cote d'Ivoire ($X), Senegal ($X) and Nigeria ($X), together accounting for X% of total exports.

Nigeria, with a CAGR of X%, saw the highest rates of growth with regard to the value of exports, in terms of the main exporting countries 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 unit in 2022, picking up by X% against the previous year. In general, the export price enjoyed a notable expansion. The most prominent rate of growth was recorded in 2018 an increase of X% against the previous year. The level of export peaked at $X per unit in 2013; however, from 2014 to 2022, the export prices stood at a somewhat lower figure.

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

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

Feedstuff Preparing Machinery Imports

Imports in ECOWAS

In 2022, after four years of decline, there was significant growth in overseas purchases of machinery for preparing animal feedstuffs, when their volume increased by X% to X units. Over the period under review, imports recorded a noticeable expansion. The most prominent rate of growth was recorded in 2014 when imports increased by X% against the previous year. The volume of import peaked at X units in 2017; however, from 2018 to 2022, imports stood at a somewhat lower figure.

In value terms, feedstuff preparing machinery imports surged to $X in 2022. In general, imports saw a strong increase. The pace of growth was the most pronounced in 2014 with an increase of X% against the previous year. The level of import peaked at $X in 2017; however, from 2018 to 2022, imports failed to regain momentum.

Imports by Country

Nigeria dominates imports structure, finishing at X units, which was near X% of total imports in 2022. It was distantly followed by Ghana (X units) and Senegal (X units), together comprising a X% share of total imports. Cote d'Ivoire (X units), Guinea (X units) and Liberia (X units) held a little share of total imports.

From 2012 to 2022, average annual rates of growth with regard to feedstuff preparing machinery imports into Nigeria stood at X%. At the same time, Liberia (X%), Guinea (X%), Cote d'Ivoire (X%) and Senegal (X%) displayed positive paces of growth. Moreover, Liberia emerged as the fastest-growing importer imported in ECOWAS, with a CAGR of X% from 2012-2022. By contrast, Ghana (X%) illustrated a downward trend over the same period. While the share of Cote d'Ivoire (X p.p.), Nigeria (X p.p.), Guinea (X p.p.), Senegal (X p.p.) and Liberia (X p.p.) increased significantly in terms of the total imports from 2012-2022, the share of Ghana (X p.p.) displayed negative dynamics.

In value terms, Nigeria ($X) constitutes the largest market for imported machinery for preparing animal feedstuffs in ECOWAS, comprising X% of total imports. The second position in the ranking was held by Ghana ($X), with a X% share of total imports. It was followed by Cote d'Ivoire, with a X% share.

From 2012 to 2022, the average annual rate of growth in terms of value in Nigeria amounted to X%. The remaining importing countries recorded the following average annual rates of imports growth: Ghana (X% per year) and Cote d'Ivoire (X% per year).

Import Prices by Country

The import price in ECOWAS stood at $X per unit in 2022, increasing by X% against the previous year. Import price indicated slight 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, feedstuff preparing machinery import price increased by X% against 2020 indices. The pace of growth was the most pronounced in 2021 when the import price increased by X%. Over the period under review, import prices reached the peak figure in 2022 and is expected to retain growth in years to come.

There were significant differences in the average prices amongst the major importing countries. In 2022, amid the top importers, the country with the highest price was Cote d'Ivoire ($X per unit), while Guinea ($X per unit) 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 more modest paces of growth.

Source: IndexBox Platform

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