ECOWAS: Cheese And Curd Market 2024

Cheese And Curd Market Size in ECOWAS

The ECOWAS cheese and curd market shrank slightly to $X in 2022, approximately reflecting the previous year. The market value increased at an average annual rate of +1.6% over the period from 2012 to 2022; the trend pattern remained relatively stable, with only minor fluctuations being observed in certain years. The level of consumption peaked at $X in 2017; however, from 2018 to 2022, consumption failed to regain momentum.

Cheese And Curd Production in ECOWAS

In value terms, cheese and curd production shrank slightly to $X in 2022 estimated in export price. The total output value increased at an average annual rate of +1.7% over the period from 2012 to 2022; the trend pattern remained consistent, with somewhat noticeable fluctuations being recorded in certain years. The pace of growth was the most pronounced in 2013 with an increase of 24% against the previous year. Over the period under review, production reached the maximum level at $X in 2014; however, from 2015 to 2022, production remained at a lower figure.

Cheese And Curd Exports

Exports in ECOWAS

In 2022, after two years of decline, there was significant growth in shipments abroad of cheese and curd, when their volume increased by 16% to X tons. In general, exports, however, saw a slight curtailment. The most prominent rate of growth was recorded in 2019 with an increase of 104% against the previous year. The volume of export peaked at X tons in 2016; however, from 2017 to 2022, the exports remained at a lower figure.

In value terms, cheese and curd exports expanded sharply to $X in 2022. Overall, exports saw a tangible increase. The pace of growth appeared the most rapid in 2013 with an increase of 105% against the previous year. Over the period under review, the exports attained the maximum at $X in 2014; however, from 2015 to 2022, the exports failed to regain momentum.

Exports by Country

In 2022, Cote d'Ivoire (X tons), distantly followed by Senegal (X tons), Mali (X tons) and Benin (X tons) represented the main exporters of cheese and curd, together constituting 86% of total exports. Togo (X tons), Sierra Leone (X tons) and Burkina Faso (X tons) held a little share of total exports.

From 2012 to 2022, the most notable rate of growth in terms of shipments, amongst the main exporting countries, was attained by Benin (with a CAGR of +43.0%), while the other leaders experienced more modest paces of growth.

In value terms, Senegal ($X), Cote d'Ivoire ($X) and Mali ($X) were the countries with the highest levels of exports in 2022, with a combined 68% share of total exports. Benin, Burkina Faso, Togo and Sierra Leone lagged somewhat behind, together accounting for a further 26%.

Benin, with a CAGR of +40.6%, saw the highest growth rate of 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 2022, which is down by -4.4% against the previous year. Over the period under review, the export price, however, recorded a resilient increase. The pace of growth was the most pronounced in 2017 an increase of 162% against the previous year. Over the period under review, the export prices attained the maximum at $X per ton in 2014; however, from 2015 to 2022, the export prices failed to regain momentum.

Prices varied noticeably by country of origin: amid the top suppliers, the country with the highest price was Burkina Faso ($X per ton), while Cote d'Ivoire ($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 (+16.5%), while the other leaders experienced more modest paces of growth.

Cheese And Curd Imports

Imports in ECOWAS

After four years of growth, purchases abroad of cheese and curd decreased by -6.9% to X tons in 2022. Total imports indicated a strong increase from 2012 to 2022: its volume increased at an average annual rate of +5.9% 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 +53.7% against 2017 indices. The most prominent rate of growth was recorded in 2019 when imports increased by 16% against the previous year. The volume of import peaked at X tons in 2021, and then reduced in the following year.

In value terms, cheese and curd imports fell to $X in 2022. Total imports indicated resilient growth from 2012 to 2022: its value increased at an average annual rate of +5.8% 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 +69.5% against 2017 indices. The pace of growth appeared the most rapid in 2019 with an increase of 21%. The level of import peaked at $X in 2021, and then fell in the following year.

Imports by Country

The purchases of the five major importers of cheese and curd, namely Senegal, Cote d'Ivoire, Nigeria, Ghana and Cabo Verde, represented more than two-thirds of total import. It was distantly followed by Mali (X tons), committing a 5.8% share of total imports. Burkina Faso (X tons) took a little share of total imports.

From 2012 to 2022, the most notable rate of growth in terms of purchases, amongst the main importing countries, was attained by Cote d'Ivoire (with a CAGR of +10.2%), while imports for the other leaders experienced more modest paces of growth.

In value terms, Cote d'Ivoire ($X), Senegal ($X) and Nigeria ($X) appeared to be the countries with the highest levels of imports in 2022, together accounting for 56% of total imports. Ghana, Cabo Verde, Mali and Burkina Faso lagged somewhat behind, together comprising a further 29%.

In terms of the main importing countries, Mali, with a CAGR of +15.0%, saw 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, remaining stable against the previous year. In general, the import price recorded a relatively flat trend pattern. The most prominent rate of growth was recorded in 2021 when the import price increased by 6.6% against the previous year. Over the period under review, import prices reached the maximum at $X per ton in 2013; however, from 2014 to 2022, import prices remained at a lower figure.

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

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Mali (+6.7%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform