Western Africa: Market for Rusks, Toasted Bread and Similar Toasted Products 2022

Market Size for Rusks, Toasted Bread and Similar Toasted Products in Western Africa

The West African rusks and toasted bread market shrank to $X in 2021, waning by -13.6% against the previous year. In general, consumption, however, saw a resilient expansion. As a result, consumption attained the peak level of $X, and then dropped in the following year.

Production of Rusks, Toasted Bread and Similar Toasted Products in Western Africa

In value terms, rusks and toasted bread production declined to $X in 2021 estimated in export price. The total production indicated a strong increase from 2012 to 2021: its value increased at an average annual rate of +8.4% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, production increased by +19.2% against 2019 indices. The pace of growth was the most pronounced in 2020 when the production volume increased by 38% against the previous year. As a result, production reached the peak level of $X, and then shrank in the following year.

Exports of Rusks, Toasted Bread and Similar Toasted Products

Exports in Western Africa

In 2021, shipments abroad of rusks, toasted bread and similar toasted products was finally on the rise to reach X tons after two years of decline. In general, exports continue to indicate a measured expansion. The pace of growth appeared the most rapid in 2018 with an increase of 141%. As a result, the exports reached the peak of X tons. From 2019 to 2021, the growth of the exports remained at a lower figure.

In value terms, rusks and toasted bread exports expanded slightly to $X in 2021. Over the period under review, exports continue to indicate a relatively flat trend pattern. The growth pace was the most rapid in 2015 with an increase of 108%. The level of export peaked at $X in 2018; however, from 2019 to 2021, the exports remained at a lower figure.

Exports by Country

Ghana dominates exports structure, reaching X tons, which was near 94% of total exports in 2021. Nigeria (X kg) followed a long way behind the leaders.

Exports from Ghana increased at an average annual rate of +11.9% from 2012 to 2021. At the same time, Nigeria (+24.0%) displayed positive paces of growth. Moreover, Nigeria emerged as the fastest-growing exporter exported in Western Africa, with a CAGR of +24.0% from 2012-2021. Ghana (+51 p.p.) and Nigeria (+3.7 p.p.) significantly strengthened its position in terms of the total exports, while the shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Ghana ($X) remains the largest rusks and toasted bread supplier in Western Africa, comprising 91% of total exports. The second position in the ranking was held by Nigeria ($X), with a 2.5% share of total exports.

From 2012 to 2021, the average annual rate of growth in terms of value in Ghana stood at +9.7%.

Export Prices by Country

The export price in Western Africa stood at $X per ton in 2021, waning by -11.9% against the previous year. Overall, the export price showed a pronounced contraction. The pace of growth appeared the most rapid in 2015 when the export price increased by 51%. As a result, the export price attained the peak level of $X per ton. From 2016 to 2021, the the export prices remained at a somewhat lower figure.

There were significant differences in the average prices amongst the major exporting countries. In 2021, the country with the highest price was Ghana ($X per ton), while Nigeria amounted to $X per ton.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Nigeria (-1.5%).

Imports of Rusks, Toasted Bread and Similar Toasted Products

Imports in Western Africa

In 2021, approx. X tons of rusks, toasted bread and similar toasted products were imported in Western Africa; jumping by 22% against the previous year's figure. Total imports indicated resilient growth from 2012 to 2021: its volume increased at an average annual rate of +7.9% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, imports increased by +21.5% against 2018 indices. The most prominent rate of growth was recorded in 2017 with an increase of 45% against the previous year. Over the period under review, imports reached the peak figure in 2021 and are likely to continue growth in the immediate term.

In value terms, rusks and toasted bread imports soared to $X in 2021. Total imports indicated a resilient expansion from 2012 to 2021: its value increased at an average annual rate of +6.5% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, imports increased by +46.9% against 2019 indices. The pace of growth appeared the most rapid in 2017 with an increase of 43%. The level of import peaked in 2021 and is likely to continue growth in the immediate term.

Imports by Country

Senegal (X tons) and Mauritania (X tons) represented the key importers of rusks, toasted bread and similar toasted products in 2021, finishing at approx. 29% and 22% of total imports, respectively. It was distantly followed by Cote d'Ivoire (X tons), Benin (X tons) and Cabo Verde (X tons), together making up a 29% share of total imports. Nigeria (X tons), Guinea (X tons), Gambia (X tons), Ghana (X tons), Burkina Faso (X tons), Liberia (X tons) and Mali (X tons) followed a long way behind the leaders.

From 2012 to 2021, the biggest increases were in Mali (with a CAGR of +26.8%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, Senegal ($X), Cote d'Ivoire ($X) and Mauritania ($X) constituted the countries with the highest levels of imports in 2021, together accounting for 57% of total imports.

Senegal, with a CAGR of +33.0%, saw the highest rates of growth with regard to the value of imports, among 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 2021, growing by 3.1% against the previous year. In general, the import price, however, recorded a slight curtailment. The growth pace was the most rapid in 2020 an increase of 8%. Over the period under review, import prices hit record highs at $X per ton in 2012; however, from 2013 to 2021, import prices stood at a somewhat lower figure.

There were significant differences in the average prices amongst the major importing countries. In 2021, the country with the highest price was Nigeria ($X per ton), while Gambia ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Nigeria (+7.2%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Market Intelligence Platform

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