Western Africa: Bread And Bakery Market 2024

Bread And Bakery Market Size in Western Africa

The West African bread and bakery market totaled $X in 2023, flattening at 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 in certain years. Over the period under review, the market reached the peak level at $X in 2020; afterwards, it flattened through to 2023.

Bread And Bakery Production in Western Africa

In value terms, bread and bakery production declined modestly to $X in 2023 estimated in export price. The total production indicated perceptible 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 most prominent rate of growth was recorded in 2015 when the production volume increased by X% against the previous year. The level of production peaked at $X in 2020; however, from 2021 to 2023, production stood at a somewhat lower figure.

Bread And Bakery Exports

Exports in Western Africa

In 2023, overseas shipments of bread and bakery decreased by X% to X tons for the first time since 2018, thus ending a four-year rising trend. The total export volume increased at an average annual rate of X% from 2012 to 2023; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The most prominent rate of growth was recorded in 2021 with an increase of X% against the previous year. Over the period under review, the exports hit record highs at X tons in 2022, and then dropped modestly in the following year.

In value terms, bread and bakery exports fell modestly to $X in 2023. Overall, exports recorded a relatively flat trend pattern. The growth pace was the most rapid in 2015 when exports increased by X%. As a result, the exports reached the peak of $X. From 2016 to 2023, the growth of the exports remained at a somewhat lower figure.

Exports by Country

Senegal represented the main exporting country with an export of about X tons, which accounted for X% of total exports. Ghana (X tons) ranks second in terms of the total exports with a X% share, followed by Cote d'Ivoire (X%). Nigeria (X tons) held a little share of total exports.

From 2012 to 2023, the most notable rate of growth in terms of shipments, amongst the main exporting countries, was attained by Ghana (with a CAGR of X%), while the other leaders experienced mixed trends in the exports figures.

In value terms, Senegal ($X), Ghana ($X) and Nigeria ($X) appeared to be the countries with the highest levels of exports in 2023, together accounting for X% of total exports.

Among the main exporting countries, Ghana, with a CAGR of X%, saw the highest growth rate of the value of exports, over the period under review, while shipments for the other leaders experienced mixed trends in the exports figures.

Export Prices by Country

The export price in Western Africa stood at $X per ton in 2023, with an increase of X% against the previous year. Over the period under review, the export price, however, recorded a noticeable curtailment. The pace of growth was the most pronounced in 2015 an increase of X% against the previous year. As a result, the export price attained the peak level of $X per ton. From 2016 to 2023, the export prices remained at a somewhat lower figure.

There were significant differences in the average prices amongst the major exporting countries. In 2023, amid the top suppliers, the country with the highest price was Nigeria ($X per ton), while Senegal ($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 a decline in the export price figures.

Bread And Bakery Imports

Imports in Western Africa

In 2023, purchases abroad of bread and bakery increased by X% to X tons, rising for the fourth year in a row after two years of decline. In general, imports posted strong growth. As a result, imports attained the peak and are likely to continue growth in the immediate term.

In value terms, bread and bakery imports skyrocketed to $X in 2023. Over the period under review, imports showed a buoyant increase. As a result, imports reached the peak and are likely to continue growth in the immediate term.

Imports by Country

Nigeria was the key importing country with an import of about X tons, which accounted for X% of total imports. Cote d'Ivoire (X tons) took a X% share (based on physical terms) of total imports, which put it in second place, followed by Senegal (X%), Mauritania (X%) and Ghana (X%). Togo (X tons), Guinea (X tons), Benin (X tons), Burkina Faso (X tons), Mali (X tons), Liberia (X tons), Niger (X tons) and Gambia (X tons) followed a long way behind the leaders.

Nigeria was also the fastest-growing in terms of the bread and bakery imports, with a CAGR of X% from 2012 to 2023. At the same time, Cote d'Ivoire (X%), Togo (X%), Gambia (X%), Benin (X%), Senegal (X%), Guinea (X%) and Mauritania (X%) displayed positive paces of growth. Niger experienced a relatively flat trend pattern. By contrast, Burkina Faso (X%), Mali (X%), Liberia (X%) and Ghana (X%) illustrated a downward trend over the same period. Nigeria (X p.p.) significantly strengthened its position in terms of the total imports, while Niger, Mauritania, Mali, Burkina Faso, Liberia and Ghana saw its share reduced by X%, X%, X%, X%, X% and X% from 2012 to 2023, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Nigeria ($X) constitutes the largest market for imported bread and bakery in Western Africa, comprising X% of total imports. The second position in the ranking was held by Senegal ($X), with a X% share of total imports. It was followed by Cote d'Ivoire, with an X% share.

From 2012 to 2023, the average annual rate of growth in terms of value in Nigeria stood at X%. The remaining importing countries recorded the following average annual rates of imports growth: Senegal (X% per year) and Cote d'Ivoire (X% per year).

Import Prices by Country

The import price in Western Africa stood at $X per ton in 2023, shrinking by X% against the previous year. In general, the import price saw a relatively flat trend pattern. The pace of growth appeared the most rapid in 2019 when the import price increased by X%. The level of import peaked at $X per ton in 2014; however, from 2015 to 2023, import prices failed to regain momentum.

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

From 2012 to 2023, the most notable rate of growth in terms of prices was attained by Liberia (X%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform