Western Africa: Market for Extracts And Juices Of Meat, Fish, Crustaceans And Molluscs 2024

Market Size for Extracts And Juices Of Meat, Fish, Crustaceans And Molluscs in Western Africa

The West African meat and fish extracts market shrank to $X in 2022, approximately mirroring the previous year. Overall, consumption recorded a noticeable contraction. As a result, consumption attained the peak level of $X. From 2014 to 2022, the growth of the market remained at a somewhat lower figure.

Production of Extracts And Juices Of Meat, Fish, Crustaceans And Molluscs in Western Africa

In value terms, meat and fish extracts production contracted slightly to $X in 2022 estimated in export price. Over the period under review, production showed a mild downturn. The most prominent rate of growth was recorded in 2013 when the production volume increased by X% against the previous year. As a result, production reached the peak level of $X. From 2014 to 2022, production growth remained at a lower figure.

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Exports of Extracts And Juices Of Meat, Fish, Crustaceans And Molluscs

Exports in Western Africa

After two years of decline, overseas shipments of extracts and juices of meat, fish, crustaceans and molluscs increased by X% to X tons in 2022. Over the period under review, exports, however, recorded a precipitous curtailment. The most prominent rate of growth was recorded in 2015 when exports increased by X% against the previous year. The volume of export peaked at X tons in 2013; however, from 2014 to 2022, the exports remained at a lower figure.

In value terms, meat and fish extracts exports stood at $X in 2022. In general, exports, however, saw a abrupt descent. The pace of growth was the most pronounced in 2015 when exports increased by X% against the previous year. The level of export peaked at $X in 2013; however, from 2014 to 2022, the exports remained at a lower figure.

Exports by Country

Benin represented the largest exporting country with an export of about X kg, which reached X% of total exports. Ghana (X kg) took a X% share (based on physical terms) of total exports, which put it in second place, followed by Nigeria (X%).

From 2012 to 2022, the biggest increases were recorded for Benin (with a CAGR of X%), while shipments for the other leaders experienced a decline in the exports figures.

In value terms, Nigeria ($X) remains the largest meat and fish extracts supplier in Western Africa, comprising X% of total exports. The second position in the ranking was held by Ghana ($X), with a X% share of total exports.

In Nigeria, meat and fish extracts exports increased 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: Ghana (X% per year) and Benin (X% per year).

Export Prices by Country

In 2022, the export price in Western Africa amounted to $X per ton, declining by X% against the previous year. Over the period under review, the export price, however, saw a significant expansion. The pace of growth appeared the most rapid in 2021 an increase of X%. As a result, the export price attained the peak level of $X per ton, and then reduced remarkably 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 Nigeria ($X per ton), while Benin ($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%).

Imports of Extracts And Juices Of Meat, Fish, Crustaceans And Molluscs

Imports in Western Africa

For the third year in a row, Western Africa recorded growth in supplies from abroad of extracts and juices of meat, fish, crustaceans and molluscs, which increased by X% to X tons in 2022. Overall, imports showed temperate growth. The most prominent rate of growth was recorded in 2015 when imports increased by X%. The volume of import peaked in 2022 and is expected to retain growth in the immediate term.

In value terms, meat and fish extracts imports fell sharply to $X in 2022. In general, imports, however, saw a mild setback. The pace of growth was the most pronounced in 2015 when imports increased by X%. As a result, imports reached the peak of $X. From 2016 to 2022, the growth of imports remained at a somewhat lower figure.

Imports by Country

In 2022, Burkina Faso (X tons) was the main importer of extracts and juices of meat, fish, crustaceans and molluscs, making up X% of total imports. Ghana (X tons) held the second position in the ranking, followed by Senegal (X tons) and Togo (X tons). All these countries together took approx. X% share of total imports.

Burkina Faso was also the fastest-growing in terms of the extracts and juices of meat, fish, crustaceans and molluscs imports, with a CAGR of X% from 2012 to 2022. At the same time, Togo (X%), Ghana (X%) and Senegal (X%) displayed positive paces of growth. From 2012 to 2022, the share of Burkina Faso, Ghana, Togo and Senegal increased by X, X, X and X percentage points, while the shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Togo ($X) constitutes the largest market for imported extracts and juices of meat, fish, crustaceans and molluscs in Western Africa, comprising X% of total imports. The second position in the ranking was held by Burkina Faso ($X), with a X% share of total imports. It was followed by Ghana, with a X% share.

In Togo, meat and fish extracts imports increased at an average annual rate of X% over the period from 2012-2022. The remaining importing countries recorded the following average annual rates of imports growth: Burkina Faso (X% per year) and Ghana (X% per year).

Import Prices by Country

The import price in Western Africa stood at $X per ton in 2022, which is down by X% against the previous year. Over the period under review, the import price recorded a noticeable decline. The pace of growth was the most pronounced in 2019 when the import price increased by X% against the previous year. Over the period under review, import prices attained the maximum at $X per ton in 2020; however, from 2021 to 2022, import prices failed to regain momentum.

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

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

Source: IndexBox Platform

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