ECOWAS - Anchovies (Prepared or Preserved) - Market Analysis, Forecast, Size, Trends and Insights
Get instant access to more than 2 million reports, dashboards, and datasets on the IndexBox Platform.
View PricingECOWAS: Preserved Anchovies Market 2024
Preserved Anchovies Market Size in ECOWAS
In 2021, after five years of growth, there was significant decline in the ECOWAS preserved anchovies market, when its value decreased by -9% to $X. Overall, consumption, however, enjoyed a buoyant expansion. The level of consumption peaked at $X in 2020, and then shrank in the following year.
Preserved Anchovies Production in ECOWAS
In value terms, preserved anchovies production dropped to $X in 2021 estimated in export price. Over the period under review, production, however, recorded prominent growth. The pace of growth was the most pronounced in 2017 with an increase of 49% against the previous year. Over the period under review, production reached the peak level at $X in 2020, and then dropped in the following year.
Preserved Anchovies Exports
Exports in ECOWAS
In 2021, approx. X tons of anchovies (prepared or preserved) were exported in ECOWAS; growing by 1,264% compared with 2020. In general, exports, however, saw a precipitous shrinkage. The volume of export peaked at X tons in 2015; however, from 2016 to 2021, the exports remained at a lower figure.
In value terms, preserved anchovies exports surged to $X in 2021. Over the period under review, exports, however, saw a abrupt descent. Over the period under review, the exports reached the peak figure at $X in 2015; however, from 2016 to 2021, the exports stood at a somewhat lower figure.
Exports by Country
Ghana dominates exports structure, reaching X tons, which was near 97% of total exports in 2021. Nigeria (X kg) followed a long way behind the leaders.
Ghana was also the fastest-growing in terms of the anchovies (prepared or preserved) exports, with a CAGR of +204.7% from 2015 to 2021. At the same time, Nigeria (+23.2%) displayed positive paces of growth. From 2015 to 2021, the share of Ghana and Nigeria increased by +96 and +1.9 percentage points, while the shares of the other countries remained relatively stable throughout the analyzed period.
In value terms, Ghana ($X) emerged as the largest preserved anchovies supplier in ECOWAS, comprising 95% of total exports. The second position in the ranking was held by Nigeria ($X), with a 4.6% share of total exports.
In Ghana, preserved anchovies exports expanded at an average annual rate of +136.7% over the period from 2015-2021.
Export Prices by Country
The export price in ECOWAS stood at $X per ton in 2021, reducing by -10.1% against the previous year. In general, the export price, however, showed a prominent expansion. The most prominent rate of growth was recorded in 2018 an increase of 79% against the previous year. The level of export peaked at $X per ton in 2019; however, from 2020 to 2021, the export prices stood at a somewhat lower figure.
Prices varied noticeably by country of origin: amid the top suppliers, the country with the highest price was Nigeria ($X per ton), while Ghana stood at $X per ton.
From 2015 to 2021, the most notable rate of growth in terms of prices was attained by Nigeria (+11.5%).
Preserved Anchovies Imports
Imports in ECOWAS
Preserved anchovies imports shrank sharply to X tons in 2021, which is down by -46.4% compared with the year before. Overall, imports, however, recorded pronounced growth. The pace of growth appeared the most rapid in 2019 with an increase of 303%. Over the period under review, imports attained the peak figure at X tons in 2015; however, from 2016 to 2021, imports stood at a somewhat lower figure.
In value terms, preserved anchovies imports shrank rapidly to $X in 2021. Over the period under review, imports, however, posted a prominent expansion. The pace of growth appeared the most rapid in 2019 when imports increased by 178% against the previous year. The level of import peaked at $X in 2015; however, from 2016 to 2021, imports remained at a lower figure.
Imports by Country
In 2021, Senegal (X tons) was the largest importer of anchovies (prepared or preserved), making up 60% of total imports. Nigeria (X tons) ranks second in terms of the total imports with a 13% share, followed by Cabo Verde (7.9%) and Benin (7.2%). The following importers - Cote d'Ivoire (X kg), Burkina Faso (X kg) and Sierra Leone (X kg) - together made up 7.8% of total imports.
Imports into Senegal increased at an average annual rate of +9.2% from 2012 to 2021. At the same time, Nigeria (+28.0%), Benin (+26.0%), Sierra Leone (+20.6%) and Burkina Faso (+5.5%) displayed positive paces of growth. Moreover, Nigeria emerged as the fastest-growing importer imported in ECOWAS, with a CAGR of +28.0% from 2012-2021. By contrast, Cabo Verde (-1.2%) and Cote d'Ivoire (-19.1%) illustrated a downward trend over the same period. While the share of Senegal (+24 p.p.), Nigeria (+11 p.p.), Benin (+6 p.p.) and Sierra Leone (+1.8 p.p.) increased significantly in terms of the total imports from 2012-2021, the share of Cabo Verde (-3.7 p.p.) and Cote d'Ivoire (-23.4 p.p.) displayed negative dynamics. The shares of the other countries remained relatively stable throughout the analyzed period.
In value terms, Senegal ($X) constitutes the largest market for imported anchovies (prepared or preserved) in ECOWAS, comprising 45% of total imports. The second position in the ranking was held by Cabo Verde ($X), with a 12% share of total imports. It was followed by Nigeria, with a 12% share.
From 2012 to 2021, the average annual rate of growth in terms of value in Senegal amounted to +17.4%. The remaining importing countries recorded the following average annual rates of imports growth: Cabo Verde (+4.3% per year) and Nigeria (+24.9% per year).
Import Prices by Country
In 2021, the import price in ECOWAS amounted to $X per ton, jumping by 18% against the previous year. Import price indicated temperate growth from 2012 to 2021: its price increased at an average annual rate of +2.0% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, preserved anchovies import price increased by +20.2% against 2019 indices. The pace of growth appeared the most rapid in 2018 an increase of 36% against the previous year. As a result, import price reached the peak level of $X per ton. From 2019 to 2021, the import prices remained at a somewhat lower figure.
There were significant differences in the average prices amongst the major importing countries. In 2021, amid the top importers, the country with the highest price was Cote d'Ivoire ($X per ton), while Senegal ($X per ton) was amongst the lowest.
From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Senegal (+7.5%), while the other leaders experienced more modest paces of growth.
Source: IndexBox Platform
This report provides an in-depth analysis of the preserved anchovies 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:
- Prodcom 10202560 - Prepared or preserved anchovies, whole or in pieces (excluding minced products and prepared meals and dishes)
Country coverage:
- Benin
- Burkina Faso
- Cabo Verde
- Gambia
- Ghana
- Guinea
- Guinea-Bissau
- Liberia
- Mali
- Niger
- Nigeria
- Senegal
- Sierra Leone
- Togo
- Cote d'Ivoire
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:
- How to diversify your business and benefit from new market opportunities
- How to load your idle production capacity
- How to boost your sales on overseas markets
- How to increase your profit margins
- How to make your supply chain more sustainable
- How to reduce your production and supply chain costs
- How to outsource production to other countries
- 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. INTRODUCTION
Making Data-Driven Decisions to Grow Your Business
- REPORT DESCRIPTION
- RESEARCH METHODOLOGY AND AI PLATFORM
- DATA-DRIVEN DECISIONS FOR YOUR BUSINESS
- GLOSSARY AND SPECIFIC TERMS
-
2. EXECUTIVE SUMMARY
A Quick Overview of Market Performance
- KEY FINDINGS
- MARKET TRENDS This Chapter is Available Only for the Professional Edition PRO
-
3. MARKET OVERVIEW
Understanding the Current State of The Market and Its Prospects
- MARKET SIZE
- CONSUMPTION BY COUNTRY
- MARKET FORECAST TO 2030
-
4. MOST PROMISING PRODUCT
Finding New Products to Diversify Your Business
This Chapter is Available Only for the Professional Edition PRO- TOP PRODUCTS TO DIVERSIFY YOUR BUSINESS
- BEST-SELLING PRODUCTS
- MOST CONSUMED PRODUCT
- MOST TRADED PRODUCT
- MOST PROFITABLE PRODUCT FOR EXPORT
-
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- TOP COUNTRIES TO SOURCE YOUR PRODUCT
- TOP PRODUCING COUNTRIES
- TOP EXPORTING COUNTRIES
- LOW-COST EXPORTING COUNTRIES
-
6. MOST PROMISING OVERSEAS MARKETS
Choosing the Best Countries to Boost Your Exports
This Chapter is Available Only for the Professional Edition PRO- TOP OVERSEAS MARKETS FOR EXPORTING YOUR PRODUCT
- TOP CONSUMING MARKETS
- UNSATURATED MARKETS
- TOP IMPORTING MARKETS
- MOST PROFITABLE MARKETS
7. PRODUCTION
The Latest Trends and Insights into The Industry
- PRODUCTION VOLUME AND VALUE
- PRODUCTION BY COUNTRY
8. IMPORTS
The Largest Importers on The Market and How They Succeed
- IMPORTS FROM 2012–2023
- IMPORTS BY COUNTRY
- IMPORT PRICES BY COUNTRY
9. EXPORTS
The Largest Exporters on The Market and How They Succeed
- EXPORTS FROM 2012–2023
- EXPORTS BY COUNTRY
- EXPORT PRICES BY COUNTRY
-
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. 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
-
LIST OF TABLES
- Key Findings In 2023
- Market Volume, In Physical Terms, 2012–2023
- Market Value, 2012–2023
- Per Capita Consumption, By Country, 2018–2023
- Production, In Physical Terms, By Country, 2012–2023
- Imports, In Physical Terms, By Country, 2012–2023
- Imports, In Value Terms, By Country, 2012–2023
- Import Prices, By Country Of Destination, 2012–2023
- Exports, In Physical Terms, By Country, 2012–2023
- Exports, In Value Terms, By Country, 2012–2023
- Export Prices, By Country Of Origin, 2012–2023
-
LIST OF FIGURES
- Market Volume, In Physical Terms, 2012–2023
- Market Value, 2012–2023
- Consumption, By Country, 2023
- Market Volume Forecast to 2030
- Market Value Forecast to 2030
- Products: Market Size And Growth, By Type
- Products: Average Per Capita Consumption, By Type
- Products: Exports And Growth, By Type
- Products: Export Prices And Growth, By Type
- Production Volume And Growth
- Exports And Growth
- Export Prices And Growth
- Market Size And Growth
- Per Capita Consumption
- Imports And Growth
- Import Prices
- Production, In Physical Terms, 2012–2023
- Production, In Value Terms, 2012–2023
- Production, By Country, 2023
- Production, In Physical Terms, By Country, 2012–2023
- Imports, In Physical Terms, 2012–2023
- Imports, In Value Terms, 2012–2023
- Imports, In Physical Terms, By Country, 2023
- Imports, In Physical Terms, By Country, 2012–2023
- Imports, In Value Terms, By Country, 2012–2023
- Import Prices, By Country, 2012–2023
- Exports, In Physical Terms, 2012–2023
- Exports, In Value Terms, 2012–2023
- Exports, In Physical Terms, By Country, 2023
- Exports, In Physical Terms, By Country, 2012–2023
- Exports, In Value Terms, By Country, 2012–2023
- Export Prices, 2012–2023
Recommended reports
This report provides an in-depth analysis of the preserved anchovies market in Asia.
This report provides an in-depth analysis of the global preserved anchovies market.
This report provides an in-depth analysis of the preserved anchovies market in the EU.
This report provides an in-depth analysis of the preserved anchovies market in the U.S..
This report provides an in-depth analysis of the preserved anchovies market in China.