ECOWAS: Market for Frozen, Dried And Smoked Fish 2024

Market Size for Frozen, Dried And Smoked Fish in ECOWAS

The ECOWAS market for frozen, dried and smoked fish expanded to $X in 2023, growing by X% against the previous year. The market value increased at an average annual rate of X% over the period from 2012 to 2023; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The level of consumption peaked in 2023 and is expected to retain growth in the immediate term.

Production of Frozen, Dried And Smoked Fish in ECOWAS

In value terms, frozen, dried and smoked fish production stood at $X in 2023 estimated in export price. The total production indicated noticeable growth from 2012 to 2023: its value increased at an average annual rate of X% over the last eleven years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2023 figures, production decreased by X% against 2021 indices. The pace of growth appeared the most rapid in 2014 when the production volume increased by X%. Over the period under review, production hit record highs at $X in 2021; however, from 2022 to 2023, production remained at a lower figure.

Exports of Frozen, Dried And Smoked Fish

Exports in ECOWAS

In 2023, approx. X tons of frozen, dried and smoked fish were exported in ECOWAS; surging by X% on 2022. Total exports indicated resilient growth from 2012 to 2023: its volume increased at an average annual rate of X% over the last eleven years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2023 figures, exports increased by X% against 2020 indices. The pace of growth appeared the most rapid in 2017 when exports increased by X% against the previous year. Over the period under review, the exports attained the maximum in 2023 and are likely to see steady growth in the near future.

In value terms, frozen, dried and smoked fish exports totaled $X in 2023. Over the period under review, exports, however, continue to indicate a relatively flat trend pattern. The pace of growth was the most pronounced in 2014 when exports increased by X% against the previous year. As a result, the exports reached the peak of $X. From 2015 to 2023, the growth of the exports failed to regain momentum.

Exports by Country

Senegal dominates exports structure, amounting to X tons, which was approx. X% of total exports in 2023. Guinea-Bissau (X tons) ranks second in terms of the total exports with a X% share, followed by Ghana (X%), Guinea (X%) and Sierra Leone (X%). Cabo Verde (X tons) followed a long way behind the leaders.

Exports from Senegal increased at an average annual rate of X% from 2012 to 2023. At the same time, Cabo Verde (X%), Sierra Leone (X%), Guinea-Bissau (X%) and Ghana (X%) displayed positive paces of growth. Moreover, Cabo Verde emerged as the fastest-growing exporter exported in ECOWAS, with a CAGR of X% from 2012-2023. By contrast, Guinea (X%) illustrated a downward trend over the same period. Senegal (X p.p.), Sierra Leone (X p.p.), Cabo Verde (X p.p.), Guinea-Bissau (X p.p.) and Ghana (X p.p.) significantly strengthened its position in terms of the total exports, while Guinea saw its share reduced by X% from 2012 to 2023, respectively.

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

In Senegal, frozen, dried and smoked fish exports expanded at an average annual rate of X% over the period from 2012-2023. In the other countries, the average annual rates were as follows: Guinea (X% per year) and Ghana (X% per year).

Export Prices by Country

The export price in ECOWAS stood at $X per ton in 2023, waning by X% against the previous year. In general, the export price recorded a abrupt decrease. The pace of growth appeared the most rapid in 2014 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 ($X per ton), while Sierra Leone ($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, Dried And Smoked Fish

Imports in ECOWAS

In 2023, imports of frozen, dried and smoked fish in ECOWAS rose rapidly to X tons, picking up by X% against 2022. Total imports indicated a tangible expansion from 2012 to 2023: its volume increased at an average annual rate of X% over the last eleven years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2023 figures, imports decreased by X% against 2021 indices. The most prominent rate of growth was recorded in 2017 with an increase of X%. The volume of import peaked at X tons in 2021; afterwards, it flattened through to 2023.

In value terms, frozen, dried and smoked fish imports contracted to $X in 2023. In general, imports, however, saw a relatively flat trend pattern. The most prominent rate of growth was recorded in 2021 with an increase of X%. As a result, imports reached the peak of $X. From 2022 to 2023, the growth of imports remained at a somewhat lower figure.

Imports by Country

Cote d'Ivoire was the main importing country with an import of around X tons, which finished at X% of total imports. It was distantly followed by Nigeria (X tons), Burkina Faso (X tons), Ghana (X tons), Benin (X tons) and Mali (X tons), together creating a 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 Burkina Faso (with a CAGR of X%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, Cote d'Ivoire ($X), Nigeria ($X) and Ghana ($X) were the countries with the highest levels of imports in 2023, together accounting for X% of total imports. Benin, Mali, Togo and Burkina Faso lagged somewhat behind, together comprising a further X%.

Mali, with a CAGR of X%, 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

In 2023, the import price in ECOWAS amounted to $X per ton, shrinking by X% against the previous year. Over the period under review, the import price continues to indicate a perceptible contraction. The pace of growth was the most pronounced in 2020 when the import price increased by X% against the previous year. The level of import peaked at $X per ton in 2012; however, from 2013 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 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 mixed trends in the import price figures.

Source: IndexBox Platform