Western Africa: Market for Fresh Bread and Miscellaneous Bakery 2024

Market Size for Fresh Bread and Miscellaneous Bakery in Western Africa

The West African market for fresh bread and miscellaneous bakery reached $X in 2023, remaining stable against the previous year. The market value increased at an average annual rate of X% from 2012 to 2023; however, 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 2023, consumption failed to regain momentum.

Production of Fresh Bread and Miscellaneous Bakery in Western Africa

In value terms, fresh bread and miscellaneous bakery production declined slightly to $X in 2023 estimated in export price. The total production indicated a notable expansion from 2012 to 2023: its value increased at an average annual rate of X% over the last eleven years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2023 figures, production decreased by X% against 2021 indices. The pace of growth was the most pronounced in 2015 with an increase of X% against the previous year. The level of production peaked at $X in 2020; however, from 2021 to 2023, production stood at a somewhat lower figure.

Exports of Fresh Bread and Miscellaneous Bakery

Exports in Western Africa

In 2023, shipments abroad of fresh bread and miscellaneous bakery was finally on the rise to reach X tons for the first time since 2019, thus ending a three-year declining trend. In general, exports, however, showed a perceptible decline. The pace of growth appeared the most rapid in 2015 when exports increased by X% against the previous year. As a result, the exports attained the peak of X tons. From 2016 to 2023, the growth of the exports remained at a somewhat lower figure.

In value terms, fresh bread and miscellaneous bakery exports expanded markedly to $X in 2023. Overall, exports, however, saw a mild downturn. The most prominent rate of growth was recorded in 2015 when exports increased by X%. As a result, the exports reached the peak of $X. From 2016 to 2023, the growth of the exports remained at a somewhat lower figure.

Exports by Country

Cote d'Ivoire (X tons), Senegal (X tons), Ghana (X tons), Cabo Verde (X tons) and Nigeria (X tons) represented roughly X% of total exports in 2023. It was distantly followed by Mali (X tons), mixing up a X% share of total exports.

From 2012 to 2023, the most notable rate of growth in terms of shipments, amongst the key exporting countries, was attained by Cabo Verde (with a CAGR of X%), while the other leaders experienced more modest paces of growth.

In value terms, the largest fresh bread and miscellaneous bakery supplying countries in Western Africa were Cabo Verde ($X), Senegal ($X) and Ghana ($X), together comprising X% of total exports.

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

Export Prices by Country

In 2023, the export price in Western Africa amounted to $X per ton, falling by X% against the previous year. Over the period under review, the export price, however, saw a pronounced increase. The most prominent rate of growth was recorded in 2015 an increase of X%. As a result, the export price attained the peak level of $X per ton. From 2016 to 2023, the export prices remained at a somewhat lower figure.

There were significant differences in the average prices amongst the major exporting countries. In 2023, amid the top suppliers, the country with the highest price was Cabo Verde ($X per ton), while Nigeria ($X per ton) was amongst the lowest.

From 2012 to 2023, the most notable rate of growth in terms of prices was attained by Senegal (X%), while the other leaders experienced more modest paces of growth.

Imports of Fresh Bread and Miscellaneous Bakery

Imports in Western Africa

For the third consecutive year, Western Africa recorded growth in purchases abroad of fresh bread and miscellaneous bakery, which increased by X% to X tons in 2023. In general, imports showed prominent growth. As a result, imports attained the peak and are likely to continue growth in the immediate term.

In value terms, fresh bread and miscellaneous bakery imports skyrocketed to $X in 2023. Over the period under review, imports saw strong growth. As a result, imports reached the peak and are likely to continue growth in the immediate term.

Imports by Country

Nigeria prevails in imports structure, reaching X tons, which was approx. X% of total imports in 2023. Senegal (X tons), Togo (X tons), Ghana (X tons) and Mauritania (X tons) took a relatively small share of total imports.

Nigeria was also the fastest-growing in terms of the fresh bread and miscellaneous bakery imports, with a CAGR of X% from 2012 to 2023. At the same time, Senegal (X%) and Mauritania (X%) displayed positive paces of growth. Togo experienced a relatively flat trend pattern. By contrast, Ghana (X%) illustrated a downward trend over the same period. From 2012 to 2023, the share of Nigeria increased by X percentage points.

In value terms, Nigeria ($X) constitutes the largest market for imported fresh bread and miscellaneous bakery in Western Africa, comprising X% of total imports. The second position in the ranking was held by Senegal ($X), with a X% share of total imports. It was followed by Ghana, with a X% share.

From 2012 to 2023, the average annual growth rate of value in Nigeria stood at X%. In the other countries, the average annual rates were as follows: Senegal (X% per year) and Ghana (X% per year).

Import Prices by Country

In 2023, the import price in Western Africa amounted to $X per ton, falling by X% against the previous year. Over the period under review, the import price showed a mild slump. The growth pace was the most rapid in 2020 an increase of X%. The level of import peaked at $X per ton in 2021; however, from 2022 to 2023, 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 ($X per ton), while Togo ($X per ton) was amongst the lowest.

From 2012 to 2023, 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