Western Africa: Animal Feed Market 2024

Animal Feed Market Size in Western Africa

The West African animal feed market expanded slightly to $X in 2022, with an increase of X% against the previous year. The market value increased at an average annual rate of X% from 2012 to 2022; the trend pattern indicated some noticeable fluctuations being recorded in certain years. The level of consumption peaked at $X in 2020; however, from 2021 to 2022, consumption failed to regain momentum.

Animal Feed Production in Western Africa

In value terms, animal feed production amounted to $X in 2022 estimated in export price. The total output value increased at an average annual rate of X% over the period from 2012 to 2022; the trend pattern indicated some noticeable fluctuations being recorded in certain years. The most prominent rate of growth was recorded in 2018 when the production volume increased by X% against the previous year. The level of production peaked at $X in 2020; however, from 2021 to 2022, production failed to regain momentum.

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Animal Feed Exports

Exports in Western Africa

In 2022, shipments abroad of animal and pet feed increased by X% to X tons, rising for the fourth year in a row after three years of decline. Over the period under review, exports, however, continue to indicate a pronounced decrease. The pace of growth appeared the most rapid in 2021 with an increase of X%. Over the period under review, the exports attained the peak figure at X tons in 2012; however, from 2013 to 2022, the exports stood at a somewhat lower figure.

In value terms, animal feed exports declined markedly to $X in 2022. Overall, exports, however, continue to indicate a slight contraction. The most prominent rate of growth was recorded in 2021 when exports increased by X% against the previous year. As a result, the exports attained the peak of $X, and then declined notably in the following year.

Exports by Country

Cote d'Ivoire represented the largest exporter of animal and pet feed in Western Africa, with the volume of exports accounting for X tons, which was approx. X% of total exports in 2022. It was distantly followed by Senegal (X tons), making up an X% share of total exports. Ghana (X tons) and Guinea (X tons) took a minor share of total exports.

Exports from Cote d'Ivoire increased at an average annual rate of X% from 2012 to 2022. At the same time, Guinea (X%), Ghana (X%) and Senegal (X%) displayed positive paces of growth. Moreover, Guinea emerged as the fastest-growing exporter exported in Western Africa, with a CAGR of X% from 2012-2022. Cote d'Ivoire (X p.p.), Senegal (X p.p.), Ghana (X p.p.) and Guinea (X p.p.) significantly strengthened its position in terms of the total exports, while the shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Cote d'Ivoire ($X) emerged as the largest animal feed supplier in Western Africa, comprising X% of total exports. The second position in the ranking was held by Senegal ($X), with a X% share of total exports. It was followed by Ghana, with a X% share.

From 2012 to 2022, the average annual growth rate of value in Cote d'Ivoire totaled X%. The remaining exporting countries recorded the following average annual rates of exports growth: Senegal (X% per year) and Ghana (X% per year).

Export Prices by Country

The export price in Western Africa stood at $X per ton in 2022, declining by X% against the previous year. In general, the export price, however, enjoyed a notable expansion. The most prominent rate of growth was recorded in 2017 an increase of X%. Over the period under review, the export prices reached the maximum at $X per ton in 2021, and then declined dramatically in the following year.

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 ($X per ton), while Cote d'Ivoire ($X per ton) was amongst the lowest.

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

Animal Feed Imports

Imports in Western Africa

In 2022, purchases abroad of animal and pet feed decreased by X% to X tons, falling for the second year in a row after three years of growth. Overall, imports, however, saw a resilient expansion. The pace of growth appeared the most rapid in 2020 with an increase of X%. As a result, imports reached the peak of X tons. From 2021 to 2022, the growth of imports remained at a lower figure.

In value terms, animal feed imports dropped to $X in 2022. Over the period under review, imports, however, recorded buoyant growth. The most prominent rate of growth was recorded in 2020 with an increase of X% against the previous year. The level of import peaked at $X in 2021, and then shrank in the following year.

Imports by Country

Ghana (X tons) and Nigeria (X tons) represented roughly X% of total imports in 2022. Cote d'Ivoire (X tons) took a X% share (based on physical terms) of total imports, which put it in second place, followed by Mali (X%), Guinea (X%), Senegal (X%) and Mauritania (X%).

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

In value terms, the largest animal feed importing markets in Western Africa were Nigeria ($X), Ghana ($X) and Cote d'Ivoire ($X), together accounting for X% of total imports. Mali, Senegal, Guinea and Mauritania lagged somewhat behind, together comprising a further X%.

Mali, with a CAGR of X%, recorded the highest growth rate of the value of imports, in terms of 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 Western Africa stood at $X per ton in 2022, remaining relatively unchanged against the previous year. Over the period from 2012 to 2022, it increased at an average annual rate of X%. The pace of growth was the most pronounced in 2013 an increase of X% against the previous year. Over the period under review, import prices attained the peak figure at $X per ton in 2014; however, from 2015 to 2022, import prices remained at a lower figure.

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 Nigeria ($X per ton), while Mauritania ($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.

Source: IndexBox Platform

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