Western Africa: Coffee Extract Market 2024

Coffee Extract Market Size in Western Africa

The West African coffee extract market reduced to $X in 2022, which is down by X% against the previous year. The market value 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 level of consumption peaked at $X in 2019; however, from 2020 to 2022, consumption stood at a somewhat lower figure.

Coffee Extract Production in Western Africa

In value terms, coffee extract production dropped modestly to $X in 2022 estimated in export price. The total output value increased at an average annual rate of X% from 2012 to 2022; however, the trend pattern remained relatively stable, with only minor fluctuations being recorded in certain years. The pace of growth was the most pronounced in 2017 when the production volume increased by X%. Over the period under review, production hit record highs at $X in 2019; however, from 2020 to 2022, production failed to regain momentum.

Coffee Extract Exports

Exports in Western Africa

For the third year in a row, Western Africa recorded growth in shipments abroad of coffee extracts, essences and concentrates, which increased by X% to X tons in 2022. Total exports indicated a prominent increase 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 2016 indices. The pace of growth appeared the most rapid in 2017 with an increase of X%. Over the period under review, the exports hit record highs in 2022 and are likely to continue growth in years to come.

In value terms, coffee extract exports contracted to $X in 2022. Over the period under review, exports recorded a relatively flat trend pattern. The pace of growth appeared the most rapid in 2021 when exports increased by X%. The level of export peaked at $X in 2015; however, from 2016 to 2022, the exports stood at a somewhat lower figure.

Exports by Country

Cote d'Ivoire (X tons) and Ghana (X tons) represented the key exporters of coffee extracts, essences and concentrates in 2022, resulting at near X% and X% of total exports, respectively. It was distantly followed by Burkina Faso (X tons), generating a X% share of total exports.

From 2012 to 2022, the most notable rate of growth in terms of shipments, amongst the main exporting countries, was attained by Burkina Faso (with a CAGR of X%), while the other leaders experienced mixed trends in the exports figures.

In value terms, Cote d'Ivoire ($X) remains the largest coffee extract supplier in Western Africa, comprising X% of total exports. The second position in the ranking was taken by Ghana ($X), with a X% share of total exports.

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

Export Prices by Country

The export price in Western Africa stood at $X per ton in 2022, dropping by X% against the previous year. Over the period under review, the export price saw a deep reduction. The most prominent rate of growth was recorded in 2013 an increase of X%. Over the period under review, the export prices hit record highs at $X per ton in 2015; however, from 2016 to 2022, the export prices remained at a lower figure.

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 ($X per ton), while Burkina Faso ($X per ton) was amongst the lowest.

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

Coffee Extract Imports

Imports in Western Africa

In 2022, overseas purchases of coffee extracts, essences and concentrates decreased by X% to X tons, falling for the second consecutive year after three years of growth. In general, imports, however, enjoyed a buoyant increase. The growth pace was the most rapid in 2018 with an increase of X%. Over the period under review, imports reached the maximum at X tons in 2020; however, from 2021 to 2022, imports remained at a lower figure.

In value terms, coffee extract imports contracted to $X in 2022. Total imports indicated a resilient 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. The most prominent rate of growth was recorded in 2015 when imports increased by X%. The level of import peaked at $X in 2021, and then contracted in the following year.

Imports by Country

Nigeria was the major importer of coffee extracts, essences and concentrates in Western Africa, with the volume of imports reaching X tons, which was near X% of total imports in 2022. Senegal (X tons) took a X% share (based on physical terms) of total imports, which put it in second place, followed by Burkina Faso (X%), Cote d'Ivoire (X%), Ghana (X%) and Mali (X%). Benin (X tons) held a minor share of total imports.

Imports into Nigeria increased at an average annual rate of X% from 2012 to 2022. At the same time, Cote d'Ivoire (X%), Senegal (X%), Benin (X%), Mali (X%) and Burkina Faso (X%) displayed positive paces of growth. Moreover, Cote d'Ivoire emerged as the fastest-growing importer imported in Western Africa, with a CAGR of X% from 2012-2022. Ghana experienced a relatively flat trend pattern. While the share of Senegal (X p.p.) and Cote d'Ivoire (X p.p.) increased significantly in terms of the total imports from 2012-2022, the share of Burkina Faso (X p.p.) and Ghana (X p.p.) displayed negative dynamics. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Senegal ($X), Nigeria ($X) and Burkina Faso ($X) were the countries with the highest levels of imports in 2022, with a combined X% share of total imports. Cote d'Ivoire, Ghana, Mali and Benin lagged somewhat behind, together comprising a further X%.

In terms of the main importing countries, Cote d'Ivoire, with a CAGR of X%, recorded the highest rates of growth with regard to the value of imports, 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, declining by X% against the previous year. In general, the import price recorded a slight curtailment. The pace of growth was the most pronounced in 2013 when the import price increased by X% against the previous year. The level of import peaked at $X per ton in 2016; however, from 2017 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 Mali ($X per ton), while Nigeria ($X per ton) was amongst the lowest.

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

Source: IndexBox Platform

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