Western Africa: Market for Frozen Fish and Seafood 2024

Market Size for Frozen Fish and Seafood in Western Africa

The West African frozen fish and seafood market rose markedly to $X in 2023, picking up by X% against the previous year. Overall, consumption enjoyed buoyant growth. Over the period under review, the market hit record highs at $X in 2021; however, from 2022 to 2023, consumption remained at a lower figure.

Production of Frozen Fish and Seafood in Western Africa

In value terms, frozen fish and seafood production expanded significantly to $X in 2023 estimated in export price. In general, production recorded a resilient expansion. The pace of growth was the most pronounced in 2018 when the production volume increased by X% against the previous year. Over the period under review, production reached the peak level at $X in 2021; however, from 2022 to 2023, production failed to regain momentum.

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Exports of Frozen Fish and Seafood

Exports in Western Africa

After three years of decline, shipments abroad of frozen fish and seafood increased by X% to X tons in 2023. Over the period under review, exports continue to indicate a relatively flat trend pattern. The growth pace was the most rapid in 2016 with an increase of X%. Over the period under review, the exports hit record highs at X tons in 2019; however, from 2020 to 2023, the exports stood at a somewhat lower figure.

In value terms, frozen fish and seafood exports shrank slightly to $X in 2023. In general, exports, however, showed a relatively flat trend pattern. The most prominent rate of growth was recorded in 2018 when exports increased by X% against the previous year. Over the period under review, the exports attained the maximum at $X in 2019; however, from 2020 to 2023, the exports stood at a somewhat lower figure.

Exports by Country

Mauritania (X tons) and Senegal (X tons) prevails in exports structure, together making up X% of total exports. Ghana (X tons), Guinea-Bissau (X tons) and Guinea (X tons) followed a long way behind the leaders.

From 2012 to 2023, the biggest increases were recorded for Senegal (with a CAGR of X%), while shipments for the other leaders experienced mixed trends in the exports figures.

In value terms, Mauritania ($X) remains the largest frozen fish and seafood supplier in Western Africa, comprising X% of total exports. The second position in the ranking was taken by Senegal ($X), with a X% share of total exports. It was followed by Guinea, with a X% share.

In Mauritania, frozen fish and seafood exports remained relatively stable over the period from 2012-2023. The remaining exporting countries recorded the following average annual rates of exports growth: Senegal (X% per year) and Guinea (X% per year).

Export Prices by Country

In 2023, the export price in Western Africa amounted to $X per ton, which is down by X% against the previous year. Overall, the export price recorded a slight setback. The pace of growth appeared the most rapid in 2021 when the export price increased by X%. Over the period under review, the export prices attained the maximum at $X per ton in 2012; however, from 2013 to 2023, the export prices stood at a somewhat lower figure.

Prices varied noticeably by country of origin: amid the top suppliers, the country with the highest price was Guinea ($X per ton), while Guinea-Bissau ($X per ton) was amongst the lowest.

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

Imports of Frozen Fish and Seafood

Imports in Western Africa

In 2023, overseas purchases of frozen fish and seafood were finally on the rise to reach X tons for the first time since 2019, thus ending a three-year declining trend. Total imports indicated pronounced growth from 2012 to 2023: its volume increased at an average annual rate of X% over the last eleven-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. The most prominent rate of growth was recorded in 2017 with an increase of X% against the previous year. Over the period under review, imports attained the peak figure at X tons in 2019; however, from 2020 to 2023, imports failed to regain momentum.

In value terms, frozen fish and seafood imports shrank slightly to $X in 2023. Over the period under review, imports continue to indicate a relatively flat trend pattern. The growth pace was the most rapid in 2017 with an increase of X%. The level of import peaked at $X in 2021; afterwards, it flattened through to 2023.

Imports by Country

Cote d'Ivoire was the largest importing country with an import of around X tons, which accounted for X% of total imports. Nigeria (X tons) took the second position in the ranking, distantly followed by Ghana (X tons), Burkina Faso (X tons), Benin (X tons) and Mali (X tons). All these countries together held approx. X% share of total imports. Togo (X tons) followed a long way behind the leaders.

From 2012 to 2023, the biggest increases were recorded for Mali (with a CAGR of X%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, the largest frozen fish and seafood importing markets in Western Africa were Cote d'Ivoire ($X), Nigeria ($X) and Ghana ($X), with a combined X% share of total imports. Benin, Mali, Togo and Burkina Faso lagged somewhat behind, together comprising a further X%.

Among the main importing countries, Mali, with a CAGR of X%, recorded the highest growth rate of 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 2023, waning by X% against the previous year. Overall, the import price recorded a pronounced contraction. The most prominent rate of growth was recorded in 2020 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 2012; however, from 2013 to 2023, import prices remained at a lower figure.

There were significant differences in the average prices amongst the major importing countries. In 2023, amid the top importers, the country with the highest price was Nigeria ($X per ton), while Burkina Faso ($X per ton) was amongst the lowest.

From 2012 to 2023, 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