Western Africa: Market for Butter And Dairy Spreads 2024

Market Size for Butter And Dairy Spreads in Western Africa

In 2022, the West African butter and dairy spreads market decreased by X% to $X, falling for the second consecutive year after two years of growth. Over the period under review, consumption showed a strong expansion. The level of consumption peaked at $X in 2020; however, from 2021 to 2022, consumption remained at a lower figure.

Production of Butter And Dairy Spreads in Western Africa

In value terms, butter and dairy spreads production reached $X in 2022 estimated in export price. The total production indicated a tangible 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 2013 when the production volume increased by X%. The level of production peaked at $X in 2020; however, from 2021 to 2022, production remained at a lower figure.

The countries with the highest volumes of production in 2022 were Benin (X tons) and Sierra Leone (X tons).

From 2012 to 2022, the most notable rate of growth in terms of production, amongst the key producing countries, was attained by Benin (with a CAGR of X%).

Exports of Butter And Dairy Spreads

Exports in Western Africa

In 2022, approx. X tons of butter and dairy spreads were exported in Western Africa; waning by X% on 2021. Overall, exports saw a drastic downturn. The growth pace was the most rapid in 2013 with an increase of X%. As a result, the exports attained the peak of X tons. From 2014 to 2022, the growth of the exports failed to regain momentum.

In value terms, butter and dairy spreads exports contracted rapidly to $X in 2022. Over the period under review, exports recorded a abrupt decrease. The most prominent rate of growth was recorded in 2013 when exports increased by X% against the previous year. As a result, the exports reached the peak of $X. From 2014 to 2022, the growth of the exports remained at a somewhat lower figure.

Exports by Country

In 2022, Ghana (X tons) represented the major exporter of butter and dairy spreads, committing X% of total exports. Gambia (X tons) took a X% share (based on physical terms) of total exports, which put it in second place, followed by Benin (X%) and Senegal (X%). The following exporters - Nigeria (X tons) and Cote d'Ivoire (X tons) - each resulted at a X% share of total exports.

Exports from Ghana increased at an average annual rate of X% from 2012 to 2022. At the same time, Senegal (X%) and Gambia (X%) displayed positive paces of growth. Moreover, Senegal emerged as the fastest-growing exporter exported in Western Africa, with a CAGR of X% from 2012-2022. By contrast, Cote d'Ivoire (X%), Nigeria (X%) and Benin (X%) illustrated a downward trend over the same period. While the share of Ghana (X p.p.), Gambia (X p.p.) and Senegal (X p.p.) increased significantly in terms of the total exports from 2012-2022, the share of Nigeria (X p.p.) and Benin (X p.p.) displayed negative dynamics. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Ghana ($X), Benin ($X) and Senegal ($X) appeared to be the countries with the highest levels of exports in 2022, together comprising X% of total exports.

Senegal, 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 Western Africa stood at $X per ton in 2022, with a decrease of X% against the previous year. Over the last decade, it increased at an average annual rate of X%. The most prominent rate of growth was recorded in 2013 an increase of X% against the previous year. The level of export peaked at $X per ton in 2020; however, from 2021 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 Cote d'Ivoire ($X per ton), while Gambia ($X per ton) was amongst the lowest.

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

Imports of Butter And Dairy Spreads

Imports in Western Africa

In 2022, purchases abroad of butter and dairy spreads decreased by X% to X tons, falling for the second year in a row after two years of growth. Overall, imports, however, continue to indicate a temperate increase. The growth pace was the most rapid in 2020 with an increase of X% against the previous year. 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, butter and dairy spreads imports expanded slightly to $X in 2022. Total imports indicated a buoyant 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, imports increased by X% against 2019 indices. The pace of growth was the most pronounced in 2017 with an increase of X%. The level of import peaked in 2022 and is expected to retain growth in the near future.

Imports by Country

In 2022, Mauritania (X tons), Burkina Faso (X tons), Senegal (X tons), Cote d'Ivoire (X tons), Ghana (X tons) and Nigeria (X tons) represented the major importer of butter and dairy spreads in Western Africa, creating X% of total import. Mali (X tons), Benin (X tons), Togo (X tons), Guinea (X tons), Cabo Verde (X tons), Niger (X tons) and Liberia (X tons) held a little share of total imports.

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

In value terms, Cote d'Ivoire ($X), Senegal ($X) and Ghana ($X) appeared to be the countries with the highest levels of imports in 2022, with a combined X% share of total imports. Nigeria, Mali, Guinea, Cabo Verde, Benin, Burkina Faso, Mauritania, Liberia, Togo and Niger lagged somewhat behind, together comprising a further X%.

Togo, with a CAGR of X%, saw the highest growth rate of the value of imports, among 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

In 2022, the import price in Western Africa amounted to $X per ton, rising by X% against the previous year. Overall, the import price recorded a mild expansion. The pace of growth was the most pronounced in 2013 when the import price increased by X%. The level of import peaked 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 Mali ($X per ton), while Mauritania ($X per ton) was amongst the lowest.

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

Source: IndexBox Platform

Frequently Asked Questions (FAQ) :