ECOWAS: Vinegar Market 2024

Vinegar Market Size in ECOWAS

The ECOWAS vinegar market declined to $X in 2023, reducing by X% against the previous year. The total consumption indicated a measured expansion from 2012 to 2023: its value increased at an average annual rate of X% over the last eleven-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2023 figures, consumption decreased by X% against 2020 indices. As a result, consumption attained the peak level of $X. From 2021 to 2023, the growth of the market remained at a lower figure.

Vinegar Production in ECOWAS

In value terms, vinegar production contracted slightly to $X in 2023 estimated in export price. The total production indicated notable growth from 2012 to 2023: its value increased at an average annual rate of X% over the last eleven-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2023 figures, production decreased by X% against 2020 indices. The pace of growth was the most pronounced in 2020 when the production volume increased by X% against the previous year. As a result, production reached the peak level of $X. From 2021 to 2023, production growth remained at a somewhat lower figure.

Vinegar Exports

Exports in ECOWAS

After four years of growth, shipments abroad of vinegar decreased by X% to X tons in 2023. Over the period under review, exports, however, showed a significant expansion. The pace of growth was the most pronounced in 2014 with an increase of X% against the previous year. Over the period under review, the exports reached the maximum at X tons in 2022, and then shrank in the following year.

In value terms, vinegar exports expanded slightly to $X in 2023. Overall, exports, however, saw a significant increase. The most prominent rate of growth was recorded in 2014 with an increase of X% against the previous year. Over the period under review, the exports hit record highs at $X in 2021; however, from 2022 to 2023, the exports failed to regain momentum.

Exports by Country

Senegal dominates exports structure, recording X tons, which was approx. X% of total exports in 2023. Benin (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, Benin (X%) displayed positive paces of growth. Moreover, Benin emerged as the fastest-growing exporter exported in ECOWAS, with a CAGR of X% from 2012-2023. Senegal (X p.p.) and Benin (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 ($X) remains the largest vinegar supplier in ECOWAS, comprising X% of total exports. The second position in the ranking was taken by Benin ($X), with a X% share of total exports.

From 2012 to 2023, the average annual rate of growth in terms of value in Senegal totaled X%.

Export Prices by Country

The export price in ECOWAS stood at $X per ton in 2023, surging by X% against the previous year. Overall, the export price saw a relatively flat trend pattern. The growth pace was the most rapid in 2014 when the export price increased by X% against the previous year. As a result, the export price attained the peak level of $X per ton. From 2015 to 2023, the export prices remained at a somewhat lower figure.

Average prices varied somewhat amongst the major exporting countries. In 2023, amid the top suppliers, the country with the highest price was Senegal ($X per ton), while Benin amounted to $X per ton.

From 2012 to 2023, the most notable rate of growth in terms of prices was attained by Senegal (X%).

Vinegar Imports

Imports in ECOWAS

Vinegar imports soared to X tons in 2023, growing by X% on the year before. Overall, imports enjoyed a strong increase. The volume of import peaked at X tons in 2021; however, from 2022 to 2023, imports stood at a somewhat lower figure.

In value terms, vinegar imports skyrocketed to $X in 2023. In general, imports showed prominent growth. Over the period under review, imports reached the peak figure at $X in 2021; however, from 2022 to 2023, imports failed to regain momentum.

Imports by Country

Senegal was the largest importer of vinegar in ECOWAS, with the volume of imports accounting for X tons, which was near X% of total imports in 2023. It was distantly followed by Guinea-Bissau (X tons), Gambia (X tons), Nigeria (X tons) and Cabo Verde (X tons), together committing a X% share of total imports. The following importers - Ghana (X tons), Benin (X tons) and Cote d'Ivoire (X tons) - together made up X% of total imports.

Imports into Senegal increased at an average annual rate of X% from 2012 to 2023. At the same time, Benin (X%), Gambia (X%), Nigeria (X%), Ghana (X%), Guinea-Bissau (X%), Cabo Verde (X%) and Cote d'Ivoire (X%) displayed positive paces of growth. Moreover, Benin emerged as the fastest-growing importer imported in ECOWAS, with a CAGR of X% from 2012-2023. While the share of Gambia (X p.p.), Benin (X p.p.) and Nigeria (X p.p.) increased significantly in terms of the total imports from 2012-2023, the share of Cote d'Ivoire (X p.p.), Cabo Verde (X p.p.) and Senegal (X p.p.) displayed negative dynamics. The shares of the other countries remained relatively stable throughout the analyzed period.

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

In Senegal, vinegar imports increased 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-Bissau (X% per year) and Nigeria (X% per year).

Import Prices by Country

In 2023, the import price in ECOWAS amounted to $X per ton, waning by X% against the previous year. Overall, the import price showed a relatively flat trend pattern. The most prominent rate of growth was recorded in 2013 an increase of X%. As a result, import price reached the peak level of $X per ton. From 2014 to 2023, the import prices remained at a somewhat lower figure.

Prices varied noticeably by country of destination: amid the top importers, the country with the highest price was Cote d'Ivoire ($X per ton), while Guinea-Bissau ($X per ton) was amongst the lowest.

From 2012 to 2023, 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