ECOWAS: Soap Market 2024

Soap Market Size in ECOWAS

The ECOWAS soap market reached $X in 2022, growing by X% against the previous year. The market value increased at an average annual rate of X% over the period from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The level of consumption peaked at $X in 2020; however, from 2021 to 2022, consumption stood at a somewhat lower figure.

Soap Production in ECOWAS

In value terms, soap production expanded modestly to $X in 2022 estimated in export price. The total production indicated a perceptible expansion 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 decreased by X% against 2020 indices. The most prominent rate of growth was recorded in 2015 with an increase of X% against the previous year. Over the period under review, production reached the peak level at $X in 2020; afterwards, it flattened through to 2022.

Soap Exports

Exports in ECOWAS

In 2022, overseas shipments of soap increased by X% to X tons, rising for the second consecutive year after two years of decline. Total exports indicated strong 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 2021 with an increase of X% against the previous year. The volume of export peaked in 2022 and is expected to retain growth in the immediate term.

In value terms, soap exports stood at $X in 2022. Total exports indicated a moderate 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, exports increased by X% against 2020 indices. The pace of growth was the most pronounced in 2021 when exports increased by X%. Over the period under review, the exports attained the maximum in 2022 and are expected to retain growth in years to come.

Exports by Country

Cote d'Ivoire prevails in exports structure, resulting at X tons, which was approx. X% of total exports in 2022. Ghana (X tons) and Nigeria (X tons) took a little share of total exports.

Cote d'Ivoire was also the fastest-growing in terms of the soap exports, with a CAGR of X% from 2012 to 2022. At the same time, Nigeria (X%) displayed positive paces of growth. Ghana experienced a relatively flat trend pattern. Cote d'Ivoire (X p.p.) significantly strengthened its position in terms of the total exports, while Ghana saw its share reduced by 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 ($X) remains the largest soap supplier in ECOWAS, comprising X% of total exports. The second position in the ranking was held by Nigeria ($X), with a X% share of total exports.

In Cote d'Ivoire, soap exports expanded 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: Nigeria (X% per year) and Ghana (X% per year).

Export Prices by Country

The export price in ECOWAS stood at $X per ton in 2022, with a decrease of X% against the previous year. In general, the export price saw a pronounced curtailment. The growth pace was the most rapid in 2021 when the export price increased by X% against the previous year. The level of export peaked at $X per ton in 2014; however, from 2015 to 2022, the export prices failed to regain momentum.

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

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

Soap Imports

Imports in ECOWAS

In 2022, approx. X tons of soap were imported in ECOWAS; growing by X% compared with 2021 figures. The total import volume increased at an average annual rate of X% from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The most prominent rate of growth was recorded in 2013 when imports increased by X% against the previous year. Over the period under review, imports hit record highs at X tons in 2020; however, from 2021 to 2022, imports failed to regain momentum.

In value terms, soap imports rose modestly to $X in 2022. In general, imports saw a relatively flat trend pattern. The pace of growth appeared the most rapid in 2013 with an increase of X% against the previous year. As a result, imports attained the peak of $X. From 2014 to 2022, the growth of imports remained at a somewhat lower figure.

Imports by Country

In 2022, Ghana (X tons) represented the key importer of soap, comprising X% of total imports. Mali (X tons) took a X% share (based on physical terms) of total imports, which put it in second place, followed by Burkina Faso (X%), Niger (X%), Senegal (X%), Togo (X%) and Gambia (X%).

From 2012 to 2022, average annual rates of growth with regard to soap imports into Ghana stood at X%. At the same time, Gambia (X%), Mali (X%), Niger (X%) and Togo (X%) displayed positive paces of growth. Moreover, Gambia emerged as the fastest-growing importer imported in ECOWAS, with a CAGR of X% from 2012-2022. Burkina Faso experienced a relatively flat trend pattern. By contrast, Senegal (X%) illustrated a downward trend over the same period. Ghana (X p.p.), Mali (X p.p.), Gambia (X p.p.) and Niger (X p.p.) significantly strengthened its position in terms of the total imports, while Burkina Faso and Senegal saw its share reduced by X% and X% from 2012 to 2022, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

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

From 2012 to 2022, the average annual growth rate of value in Ghana stood at X%. In the other countries, the average annual rates were as follows: Mali (X% per year) and Niger (X% per year).

Import Prices by Country

The import price in ECOWAS stood at $X per ton in 2022, shrinking by X% against the previous year. In general, the import price showed a noticeable slump. The most prominent rate of growth was recorded in 2021 an increase of X%. Over the period under review, import prices reached the maximum at $X per ton in 2012; however, from 2013 to 2022, 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 Ghana ($X per ton), while Burkina Faso ($X per ton) was amongst the lowest.

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

Source: IndexBox Platform

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