Western Africa: Frozen Fish Meat Market 2024

Frozen Fish Meat Market Size in Western Africa

In 2023, the West African frozen fish meat market decreased by X% to $X, falling for the second consecutive year after two years of growth. The total consumption indicated modest growth from 2012 to 2023: its value 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. Based on 2023 figures, consumption decreased by X% against 2021 indices. The level of consumption peaked at $X in 2018; however, from 2019 to 2023, consumption remained at a lower figure.

Frozen Fish Meat Production in Western Africa

In value terms, frozen fish meat production totaled $X in 2023 estimated in export price. The total output value increased at an average annual rate of X% from 2012 to 2023; the trend pattern remained relatively stable, with only minor fluctuations in certain years. The growth pace was the most rapid in 2013 when the production volume increased by X%. As a result, production attained the peak level of $X. From 2014 to 2023, production growth remained at a somewhat lower figure.

Frozen Fish Meat Exports

Exports in Western Africa

After three years of decline, shipments abroad of frozen fish meat increased by X% to X tons in 2023. Overall, exports, however, continue to indicate a relatively flat trend pattern. The growth pace was the most rapid in 2019 with an increase of X%. As a result, the exports reached the peak of X tons. From 2020 to 2023, the growth of the exports remained at a lower figure.

In value terms, frozen fish meat exports soared to $X in 2023. In general, exports, however, recorded a noticeable decline. The growth pace was the most rapid in 2018 when exports increased by X% against the previous year. Over the period under review, the exports attained the maximum at $X in 2014; however, from 2015 to 2023, the exports stood at a somewhat lower figure.

Exports by Country

Mauritania was the major exporter of frozen fish meat in Western Africa, with the volume of exports accounting for X tons, which was near X% of total exports in 2023. Senegal (X tons) held the second position in the ranking, distantly followed by Ghana (X tons). All these countries together took near X% share of total exports. Cabo Verde (X tons) followed a long way behind the leaders.

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

In value terms, the largest frozen fish meat supplying countries in Western Africa were Senegal ($X), Mauritania ($X) and Cabo Verde ($X), together accounting for X% of total exports.

Cabo Verde, with a CAGR of X%, saw the highest growth rate of the value of exports, among 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 2023, declining by X% against the previous year. Overall, the export price saw a pronounced curtailment. The most prominent rate of growth was recorded in 2021 when the export price increased by X%. The level of export peaked at $X per ton in 2012; however, from 2013 to 2023, the export prices remained at a lower figure.

There were significant differences in the average prices amongst the major exporting countries. In 2023, amid the top suppliers, the country with the highest price was Cabo Verde ($X per ton), while Ghana ($X per ton) was amongst the lowest.

From 2012 to 2023, 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.

Frozen Fish Meat Imports

Imports in Western Africa

In 2023, supplies from abroad of frozen fish meat was finally on the rise to reach X tons for the first time since 2017, thus ending a five-year declining trend. Over the period under review, imports, however, saw a noticeable downturn. The growth pace was the most rapid in 2017 when imports increased by X% against the previous year. As a result, imports reached the peak of X tons. From 2018 to 2023, the growth of imports remained at a lower figure.

In value terms, frozen fish meat imports amounted to $X in 2023. In general, imports, however, recorded a mild slump. The pace of growth was the most pronounced in 2017 with an increase of X% against the previous year. Over the period under review, imports reached the peak figure at $X in 2019; however, from 2020 to 2023, imports remained at a lower figure.

Imports by Country

Nigeria was the largest importing country with an import of about X tons, which resulted at X% of total imports. Ghana (X tons) ranks second in terms of the total imports with a X% share, followed by Cabo Verde (X%), Niger (X%) and Liberia (X%). The following importers - Sierra Leone (X tons) and Cote d'Ivoire (X tons) - each amounted to a X% share of total imports.

Imports into Nigeria decreased at an average annual rate of X% from 2012 to 2023. At the same time, Liberia (X%), Sierra Leone (X%), Niger (X%), Ghana (X%), Cote d'Ivoire (X%) and Cabo Verde (X%) displayed positive paces of growth. Moreover, Liberia emerged as the fastest-growing importer imported in Western Africa, with a CAGR of X% from 2012-2023. From 2012 to 2023, the share of Ghana, Cabo Verde, Niger, Liberia and Sierra Leone increased by X, X, X, X and X percentage points, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Cabo Verde ($X), Nigeria ($X) and Ghana ($X) were the countries with the highest levels of imports in 2023, together comprising X% of total imports. Liberia, Niger, Cote d'Ivoire and Sierra Leone lagged somewhat behind, together accounting for a further X%.

Liberia, with a CAGR of X%, recorded the highest rates of growth with regard to the value of imports, in terms of 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

The import price in Western Africa stood at $X per ton in 2023, which is down by X% against the previous year. Overall, the import price, however, recorded a tangible expansion. The most prominent rate of growth was recorded in 2018 when the import price increased by X% against the previous year. The level of import peaked at $X per ton in 2019; however, from 2020 to 2023, import prices stood at a somewhat 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 Cote d'Ivoire ($X per ton), while Nigeria ($X per ton) was amongst the lowest.

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

Source: IndexBox Platform