ECOWAS: Market for Sheep And Goat Meat 2024

Market Size for Sheep And Goat Meat in ECOWAS

The ECOWAS sheep and goat meat market expanded slightly to $X in 2022, increasing by X% against the previous year. The market value increased at an average annual rate of X% from 2012 to 2022; the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The level of consumption peaked at $X in 2020; however, from 2021 to 2022, consumption remained at a lower figure.

Production of Sheep And Goat Meat in ECOWAS

In value terms, sheep and goat meat production rose rapidly to $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; the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The growth pace was the most rapid in 2020 when the production volume increased by X%. As a result, production attained the peak level of $X. From 2021 to 2022, production growth remained at a lower figure.

The country with the largest volume of sheep and goat meat production was Nigeria (X tons), accounting for X% of total volume. Moreover, sheep and goat meat production in Nigeria exceeded the figures recorded by the second-largest producer, Burkina Faso (X tons), fivefold. Senegal (X tons) ranked third in terms of total production with a X% share.

From 2012 to 2022, the average annual rate of growth in terms of volume in Nigeria amounted to X%. The remaining producing countries recorded the following average annual rates of production growth: Burkina Faso (X% per year) and Senegal (X% per year).

In 2022, the average sheep and goat meat yield in ECOWAS totaled X kg per head, almost unchanged from the previous year's figure. Over the period under review, the yield recorded a relatively flat trend pattern. The most prominent rate of growth was recorded in 2013 when the yield increased by X%. The level of yield peaked at X kg per head in 2017; however, from 2018 to 2022, the yield remained at a lower figure.

In 2022, approx. X heads of animals slaughtered for sheep and goat meat production in ECOWAS; approximately reflecting the previous year. This number increased at an average annual rate of X% from 2012 to 2022; the trend pattern remained consistent, with only minor fluctuations being observed throughout the analyzed period. The pace of growth appeared the most rapid in 2018 when the number of producing animals increased by X%. Over the period under review, this number hit record highs at X heads in 2021, and then shrank slightly in the following year.

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Exports of Sheep And Goat Meat

Exports in ECOWAS

For the third year in a row, ECOWAS recorded decline in overseas shipments of sheep and goat meat, which decreased by X% to X tons in 2022. Overall, exports showed a deep downturn. The growth pace was the most rapid in 2014 when exports increased by X%. As a result, the exports reached the peak of X tons. From 2015 to 2022, the growth of the exports remained at a lower figure.

In value terms, sheep and goat meat exports fell remarkably to $X in 2022. Over the period under review, exports faced a abrupt decline. The pace of growth was the most pronounced in 2013 with an increase of X% against the previous year. The level of export peaked at $X in 2014; however, from 2015 to 2022, the exports stood at a somewhat lower figure.

Exports by Country

In 2022, Senegal (X tons) represented the main exporter of sheep and goat meat, mixing up X% of total exports. Cote d'Ivoire (X tons) took a X% share (based on physical terms) of total exports, which put it in second place, followed by Mali (X%).

Exports from Senegal decreased at an average annual rate of X% from 2012 to 2022. Mali (X%) and Cote d'Ivoire (X%) illustrated a downward trend over the same period. Senegal (X p.p.), Mali (X p.p.) and Cote d'Ivoire (X 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, Senegal ($X) remains the largest sheep and goat meat supplier in ECOWAS, comprising X% of total exports. The second position in the ranking was taken by Cote d'Ivoire ($X), with a X% share of total exports.

From 2012 to 2022, the average annual growth rate of value in Senegal totaled X%. The remaining exporting countries recorded the following average annual rates of exports growth: Cote d'Ivoire (X% per year) and Mali (X% per year).

Export Prices by Country

The export price in ECOWAS stood at $X per ton in 2022, picking up by X% against the previous year. In general, the export price enjoyed a pronounced increase. The most prominent rate of growth was recorded in 2020 an increase of X%. The level of export peaked at $X per ton in 2013; however, from 2014 to 2022, the export prices failed to regain momentum.

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 Senegal ($X per ton), while Mali ($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 export price figures.

Imports of Sheep And Goat Meat

Imports in ECOWAS

In 2022, approx. X tons of sheep and goat meat were imported in ECOWAS; remaining constant against the previous year's figure. In general, imports, however, recorded a drastic downturn. The growth pace was the most rapid in 2020 with an increase of X%. Over the period under review, imports reached the peak figure at X tons in 2012; however, from 2013 to 2022, imports failed to regain momentum.

In value terms, sheep and goat meat imports rose markedly to $X in 2022. Over the period under review, imports, however, continue to indicate a perceptible decline. The pace of growth was the most pronounced in 2021 when imports increased by X% against the previous year. The level of import peaked at $X in 2014; however, from 2015 to 2022, imports remained at a lower figure.

Imports by Country

Ghana was the main importer of sheep and goat meat in ECOWAS, with the volume of imports reaching X tons, which was near X% of total imports in 2022. Senegal (X tons) held an X% share (based on physical terms) of total imports, which put it in second place, followed by Mali (X%). Cote d'Ivoire (X tons), Liberia (X tons) and Cabo Verde (X tons) held a little share of total imports.

From 2012 to 2022, average annual rates of growth with regard to sheep and goat meat imports into Ghana stood at X%. At the same time, Senegal (X%), Mali (X%) and Cabo Verde (X%) displayed positive paces of growth. Moreover, Senegal emerged as the fastest-growing importer imported in ECOWAS, with a CAGR of X% from 2012-2022. By contrast, Liberia (X%) and Cote d'Ivoire (X%) illustrated a downward trend over the same period. Senegal (X p.p.) and Mali (X p.p.) significantly strengthened its position in terms of the total imports, while Ghana and Cote d'Ivoire saw its share reduced by 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 ($X) constitutes the largest market for imported sheep and goat meat in ECOWAS, comprising X% of total imports. The second position in the ranking was taken by Senegal ($X), with an X% share of total imports. It was followed by Mali, with a X% share.

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

Import Prices by Country

The import price in ECOWAS stood at $X per ton in 2022, picking up by X% against the previous year. Import price indicated a tangible expansion from 2012 to 2022: its price 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, sheep and goat meat import price increased by X% against 2019 indices. The most prominent rate of growth was recorded in 2019 an increase of X% against the previous year. The level of import peaked in 2022 and is expected to retain growth in the immediate term.

Prices varied noticeably by country of destination: amid the top importers, the country with the highest price was Cabo Verde ($X per ton), while Ghana ($X per ton) was amongst the lowest.

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

Source: IndexBox Platform

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