ECOWAS: Artificial Guts Market 2024

Artificial Guts Market Size in ECOWAS

The ECOWAS artificial guts market reduced modestly to $X in 2022, with a decrease of -3.4% against the previous year. Overall, consumption, however, posted a moderate expansion. As a result, consumption attained the peak level of $X. From 2020 to 2022, the growth of the market failed to regain momentum.

Artificial Guts Production in ECOWAS

In value terms, artificial guts production reduced modestly to $X in 2022 estimated in export price. Over the period under review, production, however, saw a slight increase. The pace of growth was the most pronounced in 2019 with an increase of 49%. As a result, production reached the peak level of $X. From 2020 to 2022, production growth remained at a lower figure.

Artificial Guts Exports

Exports in ECOWAS

Artificial guts exports declined to X tons in 2022, reducing by -13.3% on the previous year. Overall, exports, however, enjoyed a prominent increase. The growth pace was the most rapid in 2020 when exports increased by 1,999% against the previous year. As a result, the exports reached the peak of X tons. From 2021 to 2022, the growth of the exports remained at a lower figure.

In value terms, artificial guts exports fell slightly to $X in 2022. In general, exports, however, recorded a prominent expansion. The most prominent rate of growth was recorded in 2020 when exports increased by 540%. The level of export peaked at $X in 2017; however, from 2018 to 2022, the exports failed to regain momentum.

Exports by Country

Togo was the key exporter of artificial guts (sausage skins) in ECOWAS, with the volume of exports finishing at X kg, which was near 77% of total exports in 2022. It was distantly followed by Nigeria (X kg) and Senegal (X kg), together committing a 22% share of total exports.

Togo was also the fastest-growing in terms of the artificial guts (sausage skins) exports, with a CAGR of +38.9% from 2012 to 2022. At the same time, Senegal (+12.6%) displayed positive paces of growth. By contrast, Nigeria (-5.0%) illustrated a downward trend over the same period. Togo (+70 p.p.) and Senegal (+1.7 p.p.) significantly strengthened its position in terms of the total exports, while Nigeria saw its share reduced by -46.8% from 2012 to 2022, respectively.

In value terms, the largest artificial guts supplying countries in ECOWAS were Senegal ($X), Togo ($X) and Nigeria ($X), together accounting for 96% of total exports.

Among the main exporting countries, Senegal, with a CAGR of +24.4%, saw the highest rates of growth with regard to the value of exports, over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

The export price in ECOWAS stood at $X per ton in 2022, picking up by 12% against the previous year. Overall, the export price, however, recorded a mild shrinkage. The pace of growth appeared the most rapid in 2021 an increase of 127% against the previous year. The level of export peaked at $X per ton in 2013; however, from 2014 to 2022, the export prices remained at a lower figure.

Prices varied noticeably by country of origin: amid the top suppliers, the country with the highest price was Senegal ($X per ton), while Togo ($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 (+10.5%), while the other leaders experienced mixed trends in the export price figures.

Artificial Guts Imports

Imports in ECOWAS

In 2022, after two years of growth, there was significant decline in supplies from abroad of artificial guts (sausage skins), when their volume decreased by -42.5% to X tons. Over the period under review, imports continue to indicate a perceptible curtailment. The most prominent rate of growth was recorded in 2014 when imports increased by 868%. Over the period under review, imports reached the peak figure at X tons in 2015; however, from 2016 to 2022, imports failed to regain momentum.

In value terms, artificial guts imports declined notably to $X in 2022. In general, imports showed a relatively flat trend pattern. The most prominent rate of growth was recorded in 2014 when imports increased by 370%. The level of import peaked at $X in 2015; however, from 2016 to 2022, imports failed to regain momentum.

Imports by Country

In 2022, Niger (X tons) and Cote d'Ivoire (X tons) were the largest importers of artificial guts (sausage skins) in ECOWAS, together amounting to near 56% of total imports. Senegal (X tons) held the next position in the ranking, followed by Nigeria (X tons) and Ghana (X tons). All these countries together took approx. 34% share of total imports. Sierra Leone (X tons) and Togo (X tons) took a little share of total imports.

From 2012 to 2022, the biggest increases were recorded for Ghana (with a CAGR of +32.2%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, the largest artificial guts importing markets in ECOWAS were Ghana ($X), Cote d'Ivoire ($X) and Senegal ($X), together comprising 76% of total imports.

In terms of the main importing countries, Ghana, with a CAGR of +36.6%, recorded the highest growth rate of the value of imports, over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

In 2022, the import price in ECOWAS amounted to $X per ton, rising by 12% against the previous year. Overall, the import price enjoyed perceptible growth. The most prominent rate of growth was recorded in 2013 an increase of 52%. As a result, import price attained the peak level of $X per ton. From 2014 to 2022, 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 Ghana ($X per ton), while Niger ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Nigeria (+8.2%), while the other leaders experienced mixed trends in the import price figures.

Source: IndexBox Platform