Western Africa: Sparkling Wine Market 2024

Sparkling Wine Market Size in Western Africa

In 2022, the West African sparkling wine market increased by X% to $X, rising for the fourth consecutive year after two years of decline. The market value increased at an average annual rate of X% over the period from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The level of consumption peaked in 2022 and is expected to retain growth in years to come.

Sparkling Wine Production in Western Africa

In value terms, sparkling wine production reached $X in 2022 estimated in export price. The total output value increased at an average annual rate of X% over the period from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The pace of growth appeared the most rapid in 2016 when the production volume increased by X%. The level of production peaked at $X in 2020; however, from 2021 to 2022, production stood at a somewhat lower figure.

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Sparkling Wine Exports

Exports in Western Africa

In 2022, shipments abroad of sparkling wine increased by X% to X litres, rising for the second year in a row after two years of decline. Overall, exports, however, saw a slight downturn. The most prominent rate of growth was recorded in 2014 with an increase of X%. The volume of export peaked at X litres in 2015; however, from 2016 to 2022, the exports stood at a somewhat lower figure.

In value terms, sparkling wine exports skyrocketed to $X in 2022. Total exports indicated pronounced 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, exports increased by X% against 2019 indices. As a result, the exports reached the peak and are likely to continue growth in the immediate term.

Exports by Country

In 2022, Ghana (X litres), Burkina Faso (X litres), Senegal (X litres), Togo (X litres), Nigeria (X litres) and Niger (X litres) was the largest exporter of sparkling wine in Western Africa, making up X% of total export.

From 2012 to 2022, the most notable rate of growth in terms of shipments, amongst the leading exporting countries, was attained by Nigeria (with a CAGR of X%), while the other leaders experienced more modest paces of growth.

In value terms, the largest sparkling wine supplying countries in Western Africa were Burkina Faso ($X), Senegal ($X) and Ghana ($X), together comprising X% of total exports. Nigeria, Togo and Niger lagged somewhat behind, together accounting for a further X%.

Nigeria, with a CAGR of X%, saw the highest growth rate of the value of exports, in terms of 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 litre in 2022, rising by X% against the previous year. Overall, the export price enjoyed a remarkable increase. The pace of growth appeared the most rapid in 2016 an increase of X% against the previous year. The level of export peaked at $X per litre in 2020; however, from 2021 to 2022, the export prices stood at a somewhat lower figure.

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 Burkina Faso ($X per litre), while Niger ($X per litre) was amongst the lowest.

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

Sparkling Wine Imports

Imports in Western Africa

In 2022, approx. X litres of sparkling wine were imported in Western Africa; with a decrease of X% against 2021 figures. Over the period under review, imports showed a relatively flat trend pattern. The pace of growth was the most pronounced in 2019 when imports increased by X%. As a result, imports reached the peak of X litres. From 2020 to 2022, the growth of imports remained at a lower figure.

In value terms, sparkling wine imports fell modestly to $X in 2022. Overall, imports, however, continue to indicate measured growth. The most prominent rate of growth was recorded in 2019 when imports increased by X%. The level of import peaked at $X in 2021, and then shrank modestly in the following year.

Imports by Country

Nigeria dominates imports structure, resulting at X litres, which was approx. X% of total imports in 2022. Cote d'Ivoire (X litres) took the second position in the ranking, followed by Ghana (X litres). All these countries together held near X% share of total imports. The following importers - Togo (X litres), Cabo Verde (X litres) and Burkina Faso (X litres) - each finished at a X% share of total imports.

Imports into Nigeria decreased at an average annual rate of X% from 2012 to 2022. At the same time, Togo (X%), Ghana (X%), Cabo Verde (X%), Cote d'Ivoire (X%) and Burkina Faso (X%) displayed positive paces of growth. Moreover, Togo emerged as the fastest-growing importer imported in Western Africa, with a CAGR of X% from 2012-2022. From 2012 to 2022, the share of Cote d'Ivoire, Ghana and Togo increased by X, X and X percentage points, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Nigeria ($X), Ghana ($X) and Cote d'Ivoire ($X) were the countries with the highest levels of imports in 2022, with a combined X% share of total imports. Togo, Burkina Faso and Cabo Verde lagged somewhat behind, together comprising a further X%.

Togo, with a CAGR of X%, saw 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

In 2022, the import price in Western Africa amounted to $X per litre, dropping by X% against the previous year. Overall, the import price, however, continues to indicate buoyant growth. The pace of growth appeared the most rapid in 2015 when the import price increased by X%. Over the period under review, import prices attained the peak figure at $X per litre in 2016; however, from 2017 to 2022, import prices remained at a lower figure.

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 Ghana ($X per litre), while Nigeria ($X per litre) was amongst the lowest.

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

Source: IndexBox Platform