Western Africa: Frozen Cuttlefishes Market 2024

Frozen Cuttlefishes Market Size in Western Africa

The West African frozen cuttlefishes market skyrocketed to $X in 2022, growing by X% against the previous year. Overall, consumption enjoyed a buoyant increase. The level of consumption peaked in 2022 and is expected to retain growth in the immediate term.

Frozen Cuttlefishes Production in Western Africa

In value terms, frozen cuttlefishes production reduced slightly to $X in 2022 estimated in export price. The total production indicated a notable 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, production decreased by X% against 2020 indices. The most prominent rate of growth was recorded in 2018 with an increase of X% against the previous year. As a result, production reached the peak level of $X. From 2019 to 2022, production growth failed to regain momentum.

Frozen Cuttlefishes Exports

Exports in Western Africa

In 2022, overseas shipments of frozen cuttlefishes decreased by X% to X tons, falling for the third year in a row after three years of growth. Overall, exports saw a deep setback. The most prominent rate of growth was recorded in 2013 with an increase of X%. The volume of export peaked at X tons in 2019; however, from 2020 to 2022, the exports failed to regain momentum.

In value terms, frozen cuttlefishes exports reduced notably to $X in 2022. In general, exports showed a deep setback. The most prominent rate of growth was recorded in 2013 with an increase of X%. Over the period under review, the exports hit record highs at $X in 2019; however, from 2020 to 2022, the exports failed to regain momentum.

Exports by Country

In 2022, Senegal (X tons) was the main exporter of frozen cuttlefishes, mixing up X% of total exports. It was distantly followed by Cote d'Ivoire (X tons), creating a X% share of total exports. Gambia (X tons) followed a long way behind the leaders.

Exports from Senegal decreased at an average annual rate of X% from 2012 to 2022. At the same time, Cote d'Ivoire (X%) displayed positive paces of growth. Moreover, Cote d'Ivoire emerged as the fastest-growing exporter exported in Western Africa, with a CAGR of X% from 2012-2022. By contrast, Gambia (X%) illustrated a downward trend over the same period. Cote d'Ivoire (X p.p.) and Senegal (X p.p.) significantly strengthened its position in terms of the total exports, while Gambia saw its share reduced by X% from 2012 to 2022, respectively.

In value terms, Senegal ($X) remains the largest frozen cuttlefishes supplier in Western Africa, comprising X% of total exports. The second position in the ranking was held by Cote d'Ivoire ($X), with an X% share of total exports.

In Senegal, frozen cuttlefishes exports declined by an average annual rate of X% over the period from 2012-2022. In the other countries, the average annual rates were as follows: Cote d'Ivoire (X% per year) and Gambia (X% per year).

Export Prices by Country

In 2022, the export price in Western Africa amounted to $X per ton, falling by X% against the previous year. Overall, the export price recorded a perceptible decline. The pace of growth was the most pronounced in 2014 when the export price increased by X% against the previous year. Over the period under review, the export prices attained the maximum at $X per ton in 2018; however, from 2019 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 Gambia ($X per ton), while Cote d'Ivoire ($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.

Frozen Cuttlefishes Imports

Imports in Western Africa

In 2022, approx. X tons of frozen cuttlefishes were imported in Western Africa; with a decrease of X% against 2021. Over the period under review, imports saw a relatively flat trend pattern. The most prominent rate of growth was recorded in 2013 when imports increased by X% against the previous year. As a result, imports attained the peak of X tons. From 2014 to 2022, the growth of imports failed to regain momentum.

In value terms, frozen cuttlefishes imports contracted notably to $X in 2022. In general, imports, however, recorded a notable increase. The pace of growth was the most pronounced in 2013 with an increase of X%. As a result, imports attained the peak of $X. From 2014 to 2022, the growth of imports failed to regain momentum.

Imports by Country

Senegal prevails in imports structure, reaching X tons, which was approx. X% of total imports in 2022. It was distantly followed by Cabo Verde (X tons), constituting a X% share of total imports. Mauritania (X tons) held a little share of total imports.

Senegal was also the fastest-growing in terms of the frozen cuttlefishes imports, with a CAGR of X% from 2012 to 2022. Cabo Verde (X%) and Mauritania (X%) illustrated a downward trend over the same period. While the share of Senegal (X p.p.) and Mauritania (X p.p.) increased significantly in terms of the total imports from 2012-2022, the share of Cabo Verde (X p.p.) displayed negative dynamics.

In value terms, Senegal ($X) constitutes the largest market for imported frozen cuttlefishes in Western Africa, comprising X% of total imports. The second position in the ranking was taken by Cabo Verde ($X), with an X% share of total imports.

From 2012 to 2022, the average annual growth rate of value in Senegal stood at X%. In the other countries, the average annual rates were as follows: Cabo Verde (X% per year) and Mauritania (X% per year).

Import Prices by Country

The import price in Western Africa stood at $X per ton in 2022, increasing by X% against the previous year. Import price indicated a moderate expansion from 2012 to 2022: its price 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, frozen cuttlefishes import price increased by X% against 2020 indices. The most prominent rate of growth was recorded in 2019 an increase of X% against the previous year. As a result, import price reached the peak level of $X per ton. From 2020 to 2022, the 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 Cabo Verde ($X per ton), while Senegal ($X per ton) was amongst the lowest.

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

Source: IndexBox Platform

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