ECOWAS: Bottled Water Market 2024

Bottled Water Market Size in ECOWAS

The ECOWAS bottled water market shrank to $X in 2022, declining by -5% against the previous year. The total consumption indicated perceptible growth from 2012 to 2022: its value increased at an average annual rate of +4.4% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, consumption increased by +5.6% against 2020 indices. The level of consumption peaked at $X in 2018; however, from 2019 to 2022, consumption stood at a somewhat lower figure.

Bottled Water Production in ECOWAS

In value terms, bottled water production contracted modestly to $X in 2022 estimated in export price. The total production indicated a measured expansion from 2012 to 2022: its value increased at an average annual rate of +3.9% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, production increased by +4.9% against 2020 indices. The most prominent rate of growth was recorded in 2018 when the production volume increased by 43%. As a result, production attained the peak level of $X. From 2019 to 2022, production growth remained at a somewhat lower figure.

Bottled Water Exports

Exports in ECOWAS

In 2022, shipments abroad of bottled waters decreased by -8.5% to X tons for the first time since 2019, thus ending a two-year rising trend. Overall, exports, however, recorded a strong expansion. The most prominent rate of growth was recorded in 2016 when exports increased by 69% against the previous year. Over the period under review, the exports hit record highs at X tons in 2018; however, from 2019 to 2022, the exports remained at a lower figure.

In value terms, bottled water exports stood at $X in 2022. Over the period under review, exports, however, recorded a strong increase. The growth pace was the most rapid in 2016 with an increase of 119% against the previous year. Over the period under review, the exports hit record highs at $X in 2018; however, from 2019 to 2022, the exports stood at a somewhat lower figure.

Exports by Country

Ghana (X tons) and Burkina Faso (X tons) were the major exporters of bottled waters in 2022, accounting for near 30% and 27% of total exports, respectively. Mali (X tons) held the next position in the ranking, followed by Nigeria (X tons), Niger (X tons) and Benin (X tons). All these countries together took approx. 36% share of total exports. Togo (X tons) followed a long way behind the leaders.

From 2012 to 2022, the biggest increases were recorded for Niger (with a CAGR of +47.4%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, the largest bottled water supplying countries in ECOWAS were Burkina Faso ($X), Mali ($X) and Nigeria ($X), together accounting for 54% of total exports. Ghana, Niger, Benin and Togo lagged somewhat behind, together accounting for a further 31%.

Niger, with a CAGR of +31.9%, saw the highest growth rate of the value of exports, among the main exporting countries 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, growing by 10% against the previous year. In general, the export price, however, continues to indicate a pronounced downturn. The pace of growth appeared the most rapid in 2016 when the export price increased by 30%. Over the period under review, the export prices reached the maximum at $X per ton in 2013; however, from 2014 to 2022, the export prices failed to regain momentum.

There were significant differences in the average prices amongst the major exporting countries. In 2022, amid the top suppliers, the country with the highest price was Nigeria ($X per ton), while Ghana ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Burkina Faso (+6.5%), while the other leaders experienced mixed trends in the export price figures.

Bottled Water Imports

Imports in ECOWAS

In 2022, imports of bottled waters in ECOWAS shrank modestly to X tons, falling by -2.8% against the previous year. Total imports indicated noticeable growth from 2012 to 2022: its volume increased at an average annual rate of +4.9% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports increased by +87.3% against 2016 indices. The pace of growth was the most pronounced in 2021 with an increase of 41%. As a result, imports attained the peak of X tons, and then fell in the following year.

In value terms, bottled water imports fell to $X in 2022. Total imports indicated a tangible increase from 2012 to 2022: its value increased at an average annual rate of +2.7% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports increased by +75.6% against 2016 indices. The growth pace was the most rapid in 2021 with an increase of 40% against the previous year. As a result, imports attained the peak of $X, and then dropped in the following year.

Imports by Country

In 2022, Guinea-Bissau (X tons) and Togo (X tons) were the largest importers of bottled waters in ECOWAS, together comprising 39% of total imports. Cote d'Ivoire (X tons) ranks next in terms of the total imports with an 11% share, followed by Senegal (11%), Niger (9.1%), Cabo Verde (8%), Mali (6.8%) and Liberia (4.7%).

From 2012 to 2022, the biggest increases were recorded for Mali (with a CAGR of +42.6%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, the largest bottled water importing markets in ECOWAS were Cote d'Ivoire ($X), Guinea-Bissau ($X) and Niger ($X), together accounting for 49% of total imports. Senegal, Mali, Liberia, Cabo Verde and Togo lagged somewhat behind, together accounting for a further 35%.

Mali, with a CAGR of +29.4%, saw the highest rates of growth with regard to the value of imports, among 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

In 2022, the import price in ECOWAS amounted to $X per ton, reducing by -9.8% against the previous year. Over the period under review, the import price saw a pronounced reduction. The growth pace was the most rapid in 2014 an increase of 10% against the previous year. As a result, import price attained the peak level of $X per ton. From 2015 to 2022, the import prices remained at a lower figure.

There were significant differences in the average prices amongst the major importing countries. In 2022, amid the top importers, the country with the highest price was Cote d'Ivoire ($X per ton), while Togo ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Niger (+7.0%), while the other leaders experienced mixed trends in the import price figures.

Source: IndexBox Platform