ECOWAS: Canned Meat Market 2024

Canned Meat Market Size in ECOWAS

After two years of growth, the ECOWAS canned meat market decreased by -10.7% to $X in 2021. The total consumption indicated a buoyant increase from 2012 to 2021: its value increased at an average annual rate of +7.7% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, consumption increased by +19.6% against 2018 indices. The level of consumption peaked at $X in 2020, and then shrank in the following year.

Canned Meat Production in ECOWAS

In value terms, canned meat production reduced to $X in 2021 estimated in export price. The total production indicated a prominent expansion from 2012 to 2021: its value increased at an average annual rate of +8.2% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, production increased by +24.4% against 2018 indices. The most prominent rate of growth was recorded in 2015 when the production volume increased by 38% against the previous year. Over the period under review, production attained the maximum level at $X in 2020, and then shrank in the following year.

Canned Meat Exports

Exports in ECOWAS

In 2021, canned meat exports in ECOWAS fell dramatically to X tons, shrinking by -53.3% compared with the previous year. In general, exports, however, saw a relatively flat trend pattern. The pace of growth appeared the most rapid in 2013 with an increase of 122% against the previous year. As a result, the exports attained the peak of X tons. From 2014 to 2021, the growth of the exports failed to regain momentum.

In value terms, canned meat exports reduced rapidly to $X in 2021. Over the period under review, exports, however, recorded a perceptible increase. The pace of growth appeared the most rapid in 2013 when exports increased by 285%. As a result, the exports attained the peak of $X. From 2014 to 2021, the growth of the exports failed to regain momentum.

Exports by Country

In 2021, Togo (X tons), Senegal (X tons) and Mali (X tons) was the key exporter of canned meat in ECOWAS, committing 64% of total export. Benin (X tons) ranks next in terms of the total exports with a 9.3% share, followed by Ghana (8%), Cote d'Ivoire (7%) and Liberia (5.2%).

From 2012 to 2021, the most notable rate of growth in terms of shipments, amongst the main exporting countries, was attained by Liberia (with a CAGR of +79.5%), while the other leaders experienced more modest paces of growth.

In value terms, Senegal ($X), Togo ($X) and Cote d'Ivoire ($X) appeared to be the countries with the highest levels of exports in 2021, with a combined 70% share of total exports. These countries were followed by Benin, Ghana, Mali and Liberia, which together accounted for a further 22%.

Liberia, with a CAGR of +52.3%, recorded the highest rates of growth with regard to the value of exports, in terms of 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 2021, picking up by 49% against the previous year. Export price indicated a measured expansion from 2012 to 2021: its price increased at an average annual rate of +3.1% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. The most prominent rate of growth was recorded in 2013 when the export price increased by 74%. As a result, the export price attained the peak level of $X per ton. From 2014 to 2021, the export prices remained at a somewhat lower figure.

There were significant differences in the average prices amongst the major exporting countries. In 2021, amid the top suppliers, the country with the highest price was Cote d'Ivoire ($X per ton), while Mali ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Benin (+11.7%), while the other leaders experienced more modest paces of growth.

Canned Meat Imports

Imports in ECOWAS

Canned meat imports surged to X tons in 2021, picking up by 62% on the previous year. Total imports indicated buoyant growth from 2012 to 2021: its volume increased at an average annual rate of +6.8% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, imports increased by +103.2% against 2017 indices. As a result, imports attained the peak and are likely to continue growth in the immediate term.

In value terms, canned meat imports soared to $X in 2021. Total imports indicated a resilient expansion from 2012 to 2021: its value increased at an average annual rate of +5.4% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, imports increased by +84.3% against 2017 indices. As a result, imports reached the peak and are likely to continue growth in the immediate term.

Imports by Country

Ghana (X tons) and Gambia (X tons) represented roughly 48% of total imports in 2021. Cote d'Ivoire (X tons) ranks next in terms of the total imports with a 12% share, followed by Cabo Verde (12%), Guinea (7.9%) and Mali (4.6%). Senegal (X tons) held a minor share of total imports.

From 2012 to 2021, the biggest increases were recorded for Gambia (with a CAGR of +14.1%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, the largest canned meat importing markets in ECOWAS were Ghana ($X), Gambia ($X) and Cote d'Ivoire ($X), with a combined 55% share of total imports.

In terms of the main importing countries, Gambia, with a CAGR of +13.4%, 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 2021, the import price in ECOWAS amounted to $X per ton, which is down by -3.9% against the previous year. Over the period under review, the import price saw a slight curtailment. The growth pace was the most rapid in 2017 an increase of 6.4% against the previous year. Over the period under review, import prices attained the maximum at $X per ton in 2014; however, from 2015 to 2021, import prices stood 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 Mali ($X per ton), while Ghana ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Mali (+4.8%), while the other leaders experienced mixed trends in the import price figures.

Source: IndexBox Platform