ECOWAS: Beer Market 2024

Beer Market Size in ECOWAS

The ECOWAS beer market amounted to $X in 2022, growing by 3.3% against the previous year. In general, consumption, however, recorded a relatively flat trend pattern. The level of consumption peaked at $X in 2015; however, from 2016 to 2022, consumption stood at a somewhat lower figure.

Beer Production in ECOWAS

In value terms, beer production expanded markedly to $X in 2022 estimated in export price. In general, production, however, continues to indicate a noticeable curtailment. The most prominent rate of growth was recorded in 2020 with an increase of 50%. Over the period under review, production hit record highs at $X in 2013; however, from 2014 to 2022, production remained at a lower figure.

Beer Exports

Exports in ECOWAS

In 2022, approx. X tons of beer were exported in ECOWAS; with a decrease of -30% against the year before. Overall, exports, however, posted a prominent expansion. The growth pace was the most rapid in 2013 with an increase of 79% against the previous year. The volume of export peaked at X tons in 2021, and then declined notably in the following year.

In value terms, beer exports shrank dramatically to $X in 2022. Over the period under review, exports, however, recorded a perceptible increase. The pace of growth was the most pronounced in 2013 with an increase of 99%. The level of export peaked at $X in 2021, and then reduced remarkably in the following year.

Exports by Country

In 2022, Togo (X tons) was the key exporter of beer, generating 64% of total exports. It was distantly followed by Nigeria (X tons), constituting a 30% share of total exports. Senegal (X tons) took a relatively small share of total exports.

From 2012 to 2022, average annual rates of growth with regard to beer exports from Togo stood at +14.6%. At the same time, Senegal (+15.1%) displayed positive paces of growth. Moreover, Senegal emerged as the fastest-growing exporter exported in ECOWAS, with a CAGR of +15.1% from 2012-2022. By contrast, Nigeria (-2.0%) illustrated a downward trend over the same period. Togo (+35 p.p.) significantly strengthened its position in terms of the total exports, while Nigeria saw its share reduced by -36% from 2012 to 2022, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Togo ($X) remains the largest beer supplier in ECOWAS, comprising 74% of total exports. The second position in the ranking was held by Nigeria ($X), with a 19% share of total exports.

In Togo, beer exports expanded at an average annual rate of +12.0% over the period from 2012-2022. In the other countries, the average annual rates were as follows: Nigeria (-9.7% per year) and Senegal (+6.5% per year).

Export Prices by Country

The export price in ECOWAS stood at $X per ton in 2022, dropping by -10.9% against the previous year. Over the period under review, the export price continues to indicate a pronounced downturn. The growth pace was the most rapid in 2020 an increase of 28%. Over the period under review, the export prices hit record highs at $X per ton in 2013; however, from 2014 to 2022, 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 Togo ($X per ton), while Nigeria ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Togo (-2.3%), while the other leaders experienced a decline in the export price figures.

Beer Imports

Imports in ECOWAS

After three years of growth, supplies from abroad of beer decreased by -12.9% to X tons in 2022. In general, imports, however, enjoyed a resilient increase. The pace of growth appeared the most rapid in 2021 when imports increased by 99%. As a result, imports attained the peak of X tons, and then fell in the following year.

In value terms, beer imports contracted rapidly to $X in 2022. Overall, imports, however, saw a resilient expansion. The growth pace was the most rapid in 2021 when imports increased by 112% against the previous year. As a result, imports reached the peak of $X, and then declined sharply in the following year.

Imports by Country

In 2022, Burkina Faso (X tons), distantly followed by Cote d'Ivoire (X tons), Senegal (X tons), Guinea (X tons), Guinea-Bissau (X tons), Ghana (X tons), Benin (X tons), Cabo Verde (X tons) and Mali (X tons) were the key importers of beer, together constituting 95% of total imports.

Burkina Faso was also the fastest-growing in terms of the beer imports, with a CAGR of +26.1% from 2012 to 2022. At the same time, Guinea (+23.5%), Ghana (+15.3%), Mali (+14.9%), Senegal (+14.7%), Cote d'Ivoire (+12.5%), Guinea-Bissau (+8.9%), Benin (+6.8%) and Cabo Verde (+6.6%) displayed positive paces of growth. Burkina Faso (+19 p.p.), Guinea (+5.7 p.p.), Senegal (+2.1 p.p.) and Ghana (+1.7 p.p.) significantly strengthened its position in terms of the total imports, while Guinea-Bissau, Benin and Cabo Verde saw its share reduced by -2.9%, -4.1% and -4.2% from 2012 to 2022, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, the largest beer importing markets in ECOWAS were Cote d'Ivoire ($X), Ghana ($X) and Guinea ($X), together comprising 42% of total imports.

Guinea, with a CAGR of +22.3%, saw the highest growth rate of the value of imports, in terms of the main importing countries over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

The import price in ECOWAS stood at $X per ton in 2022, waning by -13.4% against the previous year. Overall, the import price continues to indicate a noticeable setback. The pace of growth appeared the most rapid in 2021 an increase of 6.5%. The level of import peaked at $X per ton in 2014; however, from 2015 to 2022, import prices failed to regain momentum.

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

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Ghana (+0.8%), while the other leaders experienced mixed trends in the import price figures.

Source: IndexBox Platform