ECOWAS: Skim Milk Market 2024

Skim Milk Market Size in ECOWAS

The ECOWAS skim milk market totaled $X in 2022, approximately mirroring the previous year. The market value increased at an average annual rate of X% over the period from 2012 to 2022; the trend pattern remained consistent, with only minor fluctuations being observed in certain years. Over the period under review, the market reached the maximum level at $X in 2020; however, from 2021 to 2022, consumption failed to regain momentum.

Skim Milk Production in ECOWAS

In value terms, skim milk production reduced slightly to $X in 2022 estimated in export price. In general, production saw a buoyant expansion. The growth pace was the most rapid in 2013 when the production volume increased by X% against the previous year. Over the period under review, production reached the peak level at $X in 2014; however, from 2015 to 2022, production stood at a somewhat lower figure.

The countries with the highest volumes of production in 2022 were Niger (X tons), Nigeria (X tons) and Burkina Faso (X tons), with a combined X% share of total production.

From 2012 to 2022, the biggest increases were recorded for Niger (with a CAGR of X%), while production for the other leaders experienced more modest paces of growth.

Skim Milk Exports

Exports in ECOWAS

In 2022, approx. X tons of skim milk were exported in ECOWAS; which is down by X% on the year before. Overall, exports saw a abrupt contraction. The most prominent rate of growth was recorded in 2014 when exports increased by X% against the previous year. The volume of export peaked at X tons in 2015; however, from 2016 to 2022, the exports remained at a lower figure.

In value terms, skim milk exports amounted to $X in 2022. In general, exports saw a abrupt contraction. The pace of growth appeared the most rapid in 2018 when exports increased by X% against the previous year. As a result, the exports reached the peak of $X. From 2019 to 2022, the growth of the exports remained at a somewhat lower figure.

Exports by Country

Nigeria (X tons) and Cote d'Ivoire (X tons) represented roughly X% of total exports in 2022. Gambia (X tons) ranks next in terms of the total exports with a X% share, followed by Ghana (X%) and Benin (X%). The following exporters - Senegal (X kg) and Niger (X kg) - each resulted at a X% share of total exports.

From 2012 to 2022, the most notable rate of growth in terms of shipments, amongst the leading exporting countries, was attained by Benin (with a CAGR of X%), while the other leaders experienced more modest paces of growth.

In value terms, the largest skim milk supplying countries in ECOWAS were Nigeria ($X), Cote d'Ivoire ($X) and Gambia ($X), together accounting for X% of total exports. Senegal, Benin, Ghana and Niger lagged somewhat behind, together comprising a further X%.

Benin, with a CAGR of X%, recorded the highest growth rate of the value of exports, in terms of the main exporting countries over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

The export price in ECOWAS stood at $X per ton in 2022, increasing by X% against the previous year. Over the period under review, the export price saw a relatively flat trend pattern. The level of export peaked at $X per ton in 2018; however, from 2019 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 ($X per ton), while Ghana ($X per ton) 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.

Skim Milk Imports

Imports in ECOWAS

In 2022, imports of skim milk in ECOWAS declined to X tons, waning by X% compared with the previous year's figure. In general, imports, however, showed a relatively flat trend pattern. The growth pace was the most rapid in 2013 when imports increased by X%. As a result, imports reached the peak of X tons. From 2014 to 2022, the growth of imports remained at a somewhat lower figure.

In value terms, skim milk imports stood at $X in 2022. Over the period under review, imports, however, enjoyed a notable expansion. The growth pace was the most rapid in 2013 with an increase of X%. As a result, imports reached the peak of $X. From 2014 to 2022, the growth of imports remained at a somewhat lower figure.

Imports by Country

Ghana represented the main importing country with an import of about X tons, which reached X% of total imports. It was distantly followed by Cote d'Ivoire (X tons) and Senegal (X tons), together creating a X% share of total imports. Niger (X tons), Burkina Faso (X tons), Guinea (X tons), Gambia (X tons), Guinea-Bissau (X tons), Cabo Verde (X tons), Togo (X tons), Mali (X tons) and Benin (X tons) followed a long way behind the leaders.

From 2012 to 2022, average annual rates of growth with regard to skim milk imports into Ghana stood at X%. At the same time, Niger (X%), Guinea (X%), Senegal (X%), Cote d'Ivoire (X%), Benin (X%) and Burkina Faso (X%) displayed positive paces of growth. Moreover, Niger emerged as the fastest-growing importer imported in ECOWAS, with a CAGR of X% from 2012-2022. By contrast, Guinea-Bissau (X%), Togo (X%), Mali (X%), Gambia (X%) and Cabo Verde (X%) illustrated a downward trend over the same period. While the share of Ghana (X p.p.), Senegal (X p.p.), Cote d'Ivoire (X p.p.), Niger (X p.p.) and Guinea (X p.p.) increased significantly in terms of the total imports from 2012-2022, the share of Mali (X p.p.), Gambia (X p.p.) and Cabo Verde (X p.p.) displayed negative dynamics. The shares of the other countries remained relatively stable throughout the analyzed period.

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

In Ghana, skim milk 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 Cote d'Ivoire (X% per year).

Import Prices by Country

The import price in ECOWAS stood at $X per ton in 2022, with an increase of X% against the previous year. Import price indicated a notable increase 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, skim milk import price increased by X% against 2016 indices. The most prominent rate of growth was recorded in 2020 an increase of X%. The level of import peaked 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 Niger ($X per ton), while Gambia ($X per ton) was amongst the lowest.

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

Source: IndexBox Platform

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