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Report ECOWAS - Hemp Tow - Market Analysis, Forecast, Size, Trends and Insights for 499$
Report Update Apr 1, 2024

ECOWAS - Hemp Tow - Market Analysis, Forecast, Size, Trends and Insights

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ECOWAS: Hemp Tow Market 2024

Hemp Tow Market Size in ECOWAS

In 2022, the ECOWAS hemp tow market was finally on the rise to reach $X after two years of decline. In general, consumption, however, showed a relatively flat trend pattern. Over the period under review, the market hit record highs at $X in 2017; however, from 2018 to 2022, consumption failed to regain momentum.

Hemp Tow Production in ECOWAS

In value terms, hemp tow production stood at $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 remained consistent, with somewhat noticeable fluctuations in certain years. The growth pace was the most rapid in 2017 with an increase of X%. Over the period under review, production attained the peak level at $X in 2020; however, from 2021 to 2022, production remained at a lower figure.

The country with the largest volume of hemp tow production was Nigeria (X tons), accounting for X% of total volume. Moreover, hemp tow production in Nigeria exceeded the figures recorded by the second-largest producer, Gambia (X tons), threefold.

In Nigeria, hemp tow production increased at an average annual rate of X% over the period from 2012-2022. In the other countries, the average annual rates were as follows: Gambia (X% per year) and Niger (X% per year).

Hemp Tow Exports

Exports in ECOWAS

After two years of decline, overseas shipments of hemp tow decreased by X% to X kg in 2021. In general, exports showed a pronounced descent. The volume of export peaked at X tons in 2020, and then fell dramatically in the following year.

In value terms, hemp tow exports contracted remarkably to $X in 2021. Overall, exports showed a abrupt descent. The level of export peaked at $X in 2020, and then reduced notably in the following year.

Exports by Country

The shipments of the one major exporters of hemp tow, namely Senegal, represented more than two-thirds of total export.

Senegal experienced a relatively flat trend pattern with regard to volume of exports of hemp tow. From 2012 to 2021, the share of Senegal increased by X percentage points, while the shares of the other countries remained relatively stable throughout the analyzed period.

In Senegal, hemp tow exports remained relatively stable over the period from 2012-2021.

Export Prices by Country

The export price in ECOWAS stood at $X per ton in 2021, reducing by X% against the previous year. In general, the export price continues to indicate a pronounced descent. The most prominent rate of growth was recorded in 2017 an increase of X% against the previous year. As a result, the export price reached the peak level of $X per ton. From 2018 to 2021, the export prices remained at a lower figure.

As there is only one major export destination, the average price level is determined by prices for Senegal.

From 2012 to 2021, the rate of growth in terms of prices for Senegal amounted to X% per year.

Hemp Tow Imports

Imports in ECOWAS

After two years of decline, purchases abroad of hemp tow increased by X% to X tons in 2022. Over the period under review, imports saw resilient growth. The most prominent rate of growth was recorded in 2019 with an increase of X% against the previous year. As a result, imports reached the peak of X tons. From 2020 to 2022, the growth of imports failed to regain momentum.

In value terms, hemp tow imports contracted to $X in 2022. Overall, imports, however, recorded a abrupt decline. The pace of growth was the most pronounced in 2019 when imports increased by X% against the previous year. As a result, imports attained the peak of $X. From 2020 to 2022, the growth of imports remained at a somewhat lower figure.

Imports by Country

Burkina Faso represented the key importing country with an import of about X tons, which reached X% of total imports. Niger (X tons) took a X% share (based on physical terms) of total imports, which put it in second place, followed by Nigeria (X%). Senegal (X kg) followed a long way behind the leaders.

Burkina Faso was also the fastest-growing in terms of the hemp tow imports, with a CAGR of X% from 2012 to 2022. At the same time, Nigeria (X%) displayed positive paces of growth. Niger experienced a relatively flat trend pattern. By contrast, Senegal (X%) illustrated a downward trend over the same period. From 2012 to 2022, the share of Burkina Faso, Niger, Nigeria and Senegal increased by X, X, X and X percentage points, while the shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Niger ($X) constitutes the largest market for imported hemp tow in ECOWAS, comprising X% of total imports. The second position in the ranking was taken by Nigeria ($X), with an X% share of total imports. It was followed by Senegal, with a X% share.

From 2012 to 2022, the average annual growth rate of value in Niger was relatively modest. The remaining importing countries recorded the following average annual rates of imports growth: Nigeria (X% per year) and Senegal (X% per year).

Import Prices by Country

The import price in ECOWAS stood at $X per ton in 2022, which is down by X% against the previous year. Over the period under review, the import price continues to indicate a abrupt descent. The pace of growth was the most pronounced in 2018 an increase of X% against the previous year. Over the period under review, import prices attained the maximum at $X per ton in 2020; however, from 2021 to 2022, import prices failed to regain momentum.

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 Senegal ($X per ton), while Burkina Faso ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Senegal (X%), while the other leaders experienced a decline in the import price figures.

Source: IndexBox Platform

Frequently Asked Questions (FAQ) :

Nigeria constituted the country with the largest volume of hemp tow consumption, comprising approx. 68% of total volume. Moreover, hemp tow consumption in Nigeria exceeded the figures recorded by the second-largest consumer, Gambia, threefold. Burkina Faso ranked third in terms of total consumption with a 5.3% share.
Nigeria constituted the country with the largest volume of hemp tow production, accounting for 74% of total volume. Moreover, hemp tow production in Nigeria exceeded the figures recorded by the second-largest producer, Gambia, threefold.
In value terms, Niger constitutes the largest market for imported hemp tow in ECOWAS, comprising 56% of total imports. The second position in the ranking was held by Nigeria, with an 18% share of total imports. It was followed by Senegal, with a 17% share.
The export price in ECOWAS stood at $900 per ton in 2021, declining by -43.9% against the previous year.
The import price in ECOWAS stood at $364 per ton in 2022, reducing by -67.1% against the previous year.

This report provides an in-depth analysis of the hemp tow market in ECOWAS. Within it, you will discover the latest data on market trends and opportunities by country, consumption, production and price developments, as well as the global trade (imports and exports). The forecast exhibits the market prospects through 2030.

Product coverage:

  • FCL 777 - Hemp fibre and tow

Country coverage:

Data coverage:

  • Market volume and value
  • Per Capita consumption
  • Forecast of the market dynamics in the medium term
  • Production in ECOWAS, split by region and country
  • Trade (exports and imports) in ECOWAS
  • Export and import prices
  • Market trends, drivers and restraints
  • Key market players and their profiles

Reasons to buy this report:

  • Take advantage of the latest data
  • Find deeper insights into current market developments
  • Discover vital success factors affecting the market

This report is designed for manufacturers, distributors, importers, and wholesalers, as well as for investors, consultants and advisors.

In this report, you can find information that helps you to make informed decisions on the following issues:

  1. How to diversify your business and benefit from new market opportunities
  2. How to load your idle production capacity
  3. How to boost your sales on overseas markets
  4. How to increase your profit margins
  5. How to make your supply chain more sustainable
  6. How to reduce your production and supply chain costs
  7. How to outsource production to other countries
  8. How to prepare your business for global expansion

While doing this research, we combine the accumulated expertise of our analysts and the capabilities of artificial intelligence. The AI-based platform, developed by our data scientists, constitutes the key working tool for business analysts, empowering them to discover deep insights and ideas from the marketing data.

  1. 1. INTRODUCTION

    Making Data-Driven Decisions to Grow Your Business

    1. REPORT DESCRIPTION
    2. RESEARCH METHODOLOGY AND AI PLATFORM
    3. DATA-DRIVEN DECISIONS FOR YOUR BUSINESS
    4. GLOSSARY AND SPECIFIC TERMS

  2. 2. EXECUTIVE SUMMARY

    A Quick Overview of Market Performance

    1. KEY FINDINGS
    2. MARKET TRENDS This Chapter is Available Only for the Professional Edition PRO

  3. 3. MARKET OVERVIEW

    Understanding the Current State of The Market and Its Prospects

    1. MARKET SIZE
    2. CONSUMPTION BY COUNTRY
    3. MARKET FORECAST TO 2030

  4. 4. MOST PROMISING PRODUCT

    Finding New Products to Diversify Your Business

    This Chapter is Available Only for the Professional Edition PRO
    1. TOP PRODUCTS TO DIVERSIFY YOUR BUSINESS
    2. BEST-SELLING PRODUCTS
    3. MOST CONSUMED PRODUCT
    4. MOST TRADED PRODUCT
    5. MOST PROFITABLE PRODUCT FOR EXPORT

  5. 5. MOST PROMISING SUPPLYING COUNTRIES

    Choosing the Best Countries to Establish Your Sustainable Supply Chain

    This Chapter is Available Only for the Professional Edition PRO
    1. TOP COUNTRIES TO SOURCE YOUR PRODUCT
    2. TOP PRODUCING COUNTRIES
    3. COUNTRIES WITH TOP YIELDS
    4. TOP EXPORTING COUNTRIES
    5. LOW-COST EXPORTING COUNTRIES

  6. 6. MOST PROMISING OVERSEAS MARKETS

    Choosing the Best Countries to Boost Your Exports

    This Chapter is Available Only for the Professional Edition PRO
    1. TOP OVERSEAS MARKETS FOR EXPORTING YOUR PRODUCT
    2. TOP CONSUMING MARKETS
    3. UNSATURATED MARKETS
    4. TOP IMPORTING MARKETS
    5. MOST PROFITABLE MARKETS

  7. 7. PRODUCTION

    The Latest Trends and Insights into The Industry

    1. PRODUCTION VOLUME AND VALUE
    2. PRODUCTION BY COUNTRY
    3. HARVESTED AREA AND YIELD BY COUNTRY

  8. 8. IMPORTS

    The Largest Importers on The Market and How They Succeed

    1. IMPORTS FROM 2012–2023
    2. IMPORTS BY COUNTRY
    3. IMPORT PRICES BY COUNTRY

  9. 9. EXPORTS

    The Largest Exporters on The Market and How They Succeed

    1. EXPORTS FROM 2012–2023
    2. EXPORTS BY COUNTRY
    3. EXPORT PRICES BY COUNTRY

  10. 10. PROFILES OF MAJOR PRODUCERS

    The Largest Producers on The Market and Their Profiles

    This Chapter is Available Only for the Professional Edition PRO

  11. 11. COUNTRY PROFILES

    The Largest Markets And Their Profiles

    This Chapter is Available Only for the Professional Edition PRO
    • Benin
    • Burkina Faso
    • Cabo Verde
    • Gambia
    • Ghana
    • Guinea
    • Guinea-Bissau
    • Liberia
    • Mali
    • Niger
    • Nigeria
    • Senegal
    • Sierra Leone
    • Togo
    • Cote d'Ivoire

  12. LIST OF TABLES

    1. Key Findings In 2023
    2. Market Volume, In Physical Terms, 2012–2023
    3. Market Value, 2012–2023
    4. Per Capita Consumption, By Country, 2018–2023
    5. Production, In Physical Terms, By Country, 2012–2023
    6. Harvested Area, By Country, 2012-2023
    7. Yield, By Country, 2012-2023
    8. Imports, In Physical Terms, By Country, 2012–2023
    9. Imports, In Value Terms, By Country, 2012–2023
    10. Import Prices, By Country Of Destination, 2012–2023
    11. Exports, In Physical Terms, By Country, 2012–2023
    12. Exports, In Value Terms, By Country, 2012–2023
    13. Export Prices, By Country Of Origin, 2012–2023

  13. LIST OF FIGURES

    1. Market Volume, In Physical Terms, 2012–2023
    2. Market Value, 2012–2023
    3. Consumption, By Country, 2023
    4. Market Volume Forecast to 2030
    5. Market Value Forecast to 2030
    6. Products: Market Size And Growth, By Type
    7. Products: Average Per Capita Consumption, By Type
    8. Products: Exports And Growth, By Type
    9. Products: Export Prices And Growth, By Type
    10. Production Volume And Growth
    11. Yield And Growth
    12. Exports And Growth
    13. Export Prices And Growth
    14. Market Size And Growth
    15. Per Capita Consumption
    16. Imports And Growth
    17. Import Prices
    18. Production, In Physical Terms, 2012–2023
    19. Production, In Value Terms, 2012–2023
    20. Area Harvested, 2012–2023
    21. Yield, 2012–2023
    22. Production, By Country, 2023
    23. Production, In Physical Terms, By Country, 2012–2023
    24. Harvested Area, By Country, 2023
    25. Harvested Area, By Country, 2012-2023
    26. Yield, By Country, 2012-2023
    27. Imports, In Physical Terms, 2012–2023
    28. Imports, In Value Terms, 2012–2023
    29. Imports, In Physical Terms, By Country, 2023
    30. Imports, In Physical Terms, By Country, 2012–2023
    31. Imports, In Value Terms, By Country, 2012–2023
    32. Import Prices, By Country, 2012–2023
    33. Exports, In Physical Terms, 2012–2023
    34. Exports, In Value Terms, 2012–2023
    35. Exports, In Physical Terms, By Country, 2023
    36. Exports, In Physical Terms, By Country, 2012–2023
    37. Exports, In Value Terms, By Country, 2012–2023
    38. Export Prices, 2012–2023

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