Western Africa: Soap Market 2024

Soap Market Size in Western Africa

The West African soap market was estimated at $X in 2022, remaining constant against the previous year. The total consumption indicated noticeable growth 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, consumption decreased by X% against 2020 indices. Over the period under review, the market attained the maximum level at $X in 2020; however, from 2021 to 2022, consumption remained at a lower figure.

Soap Production in Western Africa

In value terms, soap production rose to $X in 2022 estimated in export price. The total production indicated a noticeable 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 pace of growth appeared the most rapid in 2015 with an increase of X% against the previous year. Over the period under review, production reached the maximum level at $X in 2020; afterwards, it flattened through to 2022.

Soap Exports

Exports in Western Africa

In 2022, overseas shipments of soap increased by X% to X tons, rising for the second year in a row after two years of decline. Total exports indicated a prominent increase from 2012 to 2022: its volume 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, exports increased by X% against 2020 indices. The pace of growth appeared the most rapid in 2021 when exports increased by X%. Over the period under review, the exports attained the peak figure in 2022 and are expected to retain growth in the immediate term.

In value terms, soap exports stood at $X in 2022. Total exports indicated a perceptible 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, exports increased by X% against 2020 indices. The pace of growth appeared the most rapid in 2021 when exports increased by X%. The level of export peaked in 2022 and is likely to see gradual growth in the near future.

Exports by Country

Cote d'Ivoire prevails in exports structure, recording X tons, which was approx. X% of total exports in 2022. The following exporters - Ghana (X tons) and Nigeria (X tons) - together made up X% of total exports.

Cote d'Ivoire was also the fastest-growing in terms of the soap exports, with a CAGR of X% from 2012 to 2022. At the same time, Nigeria (X%) displayed positive paces of growth. Ghana experienced a relatively flat trend pattern. Cote d'Ivoire (X p.p.) significantly strengthened its position in terms of the total exports, while Ghana saw its share reduced by X% from 2012 to 2022, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Cote d'Ivoire ($X) remains the largest soap supplier in Western Africa, comprising X% of total exports. The second position in the ranking was taken by Nigeria ($X), with a X% share of total exports.

In Cote d'Ivoire, soap 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: Nigeria (X% per year) and Ghana (X% per year).

Export Prices by Country

The export price in Western Africa stood at $X per ton in 2022, with a decrease of X% against the previous year. In general, the export price continues to indicate a perceptible curtailment. The pace of growth was the most pronounced in 2021 an increase of X%. The level of export peaked at $X per ton in 2014; however, from 2015 to 2022, the export prices failed to regain momentum.

Prices varied noticeably by country of origin: amid the top suppliers, the country with the highest price was Nigeria ($X per ton), while Cote d'Ivoire ($X per ton) was amongst the lowest.

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

Soap Imports

Imports in Western Africa

In 2022, purchases abroad of soap decreased by X% to X tons, falling for the second consecutive year after two years of growth. The total import volume increased at an average annual rate of X% from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The pace of growth was the most pronounced in 2013 when imports increased by X% against the previous year. The volume of import peaked at X tons in 2020; however, from 2021 to 2022, imports stood at a somewhat lower figure.

In value terms, soap imports reduced slightly to $X in 2022. In general, imports, however, saw a relatively flat trend pattern. The most prominent rate of growth was recorded in 2013 with an increase of X%. As a result, imports reached the peak of $X. From 2014 to 2022, the growth of imports remained at a lower figure.

Imports by Country

In 2022, Ghana (X tons) represented the key importer of soap, constituting X% of total imports. Mali (X tons) ranks second in terms of the total imports with a X% share, followed by Burkina Faso (X%), Niger (X%), Senegal (X%) and Togo (X%). The following importers - Gambia (X tons), Guinea (X tons), Nigeria (X tons), Cote d'Ivoire (X tons), Liberia (X tons), Sierra Leone (X tons) and Benin (X tons) - together made up X% of total imports.

Imports into Ghana increased at an average annual rate of X% from 2012 to 2022. At the same time, Gambia (X%), Mali (X%), Liberia (X%), Niger (X%), Sierra Leone (X%), Guinea (X%), Nigeria (X%) and Togo (X%) displayed positive paces of growth. Moreover, Gambia emerged as the fastest-growing importer imported in Western Africa, with a CAGR of X% from 2012-2022. Cote d'Ivoire and Burkina Faso experienced a relatively flat trend pattern. By contrast, Senegal (X%) and Benin (X%) illustrated a downward trend over the same period. Ghana (X p.p.), Mali (X p.p.), Gambia (X p.p.) and Niger (X p.p.) significantly strengthened its position in terms of the total imports, while Burkina Faso, Senegal and Benin saw its share reduced by X%, X% and X% from 2012 to 2022, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Ghana ($X) constitutes the largest market for imported soap in Western Africa, comprising X% of total imports. The second position in the ranking was held by Mali ($X), with a X% share of total imports. It was followed by Niger, with an X% share.

From 2012 to 2022, the average annual rate of growth in terms of value in Ghana stood at X%. The remaining importing countries recorded the following average annual rates of imports growth: Mali (X% per year) and Niger (X% per year).

Import Prices by Country

The import price in Western Africa stood at $X per ton in 2022, remaining stable against the previous year. In general, the import price showed a mild slump. The most prominent rate of growth was recorded in 2021 when the import price increased by X% against the previous year. The level of import peaked at $X per ton in 2014; however, from 2015 to 2022, import prices remained at a lower figure.

Prices varied noticeably by country of destination: 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 2022, the most notable rate of growth in terms of prices was attained by Nigeria (X%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform

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