ECOWAS: Market for Cider, Perry, Mead And Other Fermented Beverages 2024

Market Size for Cider, Perry, Mead And Other Fermented Beverages in ECOWAS

The ECOWAS cider, perry and mead market fell slightly to $X in 2021, declining by -2.7% against the previous year. Over the period under review, consumption recorded a pronounced decrease. As a result, consumption reached the peak level of $X. From 2018 to 2021, the growth of the market remained at a lower figure.

Production of Cider, Perry, Mead And Other Fermented Beverages in ECOWAS

In value terms, cider, perry and mead production contracted modestly to $X in 2021 estimated in export price. In general, production saw a pronounced curtailment. The pace of growth was the most pronounced in 2017 with an increase of 17%. As a result, production reached the peak level of $X. From 2018 to 2021, production growth remained at a lower figure.

Exports of Cider, Perry, Mead And Other Fermented Beverages

Exports in ECOWAS

In 2021, shipments abroad of cider, perry, mead and other fermented beverages increased by 150% to X litres, rising for the second consecutive year after three years of decline. Overall, exports saw a strong expansion. The pace of growth was the most pronounced in 2014 with an increase of 445%. Over the period under review, the exports attained the peak figure at X litres in 2016; however, from 2017 to 2021, the exports remained at a lower figure.

In value terms, cider, perry and mead exports surged to $X in 2021. Over the period under review, exports recorded prominent growth. The pace of growth appeared the most rapid in 2016 with an increase of 815% against the previous year. As a result, the exports reached the peak of $X. From 2017 to 2021, the growth of the exports remained at a lower figure.

Exports by Country

Ghana was the main exporter of cider, perry, mead and other fermented beverages in ECOWAS, with the volume of exports amounting to X litres, which was near 72% of total exports in 2021. It was distantly followed by Nigeria (X litres), making up a 27% share of total exports.

Exports from Ghana increased at an average annual rate of +13.7% from 2012 to 2021. At the same time, Nigeria (+40.9%) displayed positive paces of growth. Moreover, Nigeria emerged as the fastest-growing exporter exported in ECOWAS, with a CAGR of +40.9% from 2012-2021. While the share of Nigeria (+22 p.p.) increased significantly in terms of the total exports from 2012-2021, the share of Ghana (-12.6 p.p.) displayed negative dynamics.

In value terms, Ghana ($X) remains the largest cider, perry and mead supplier in ECOWAS, comprising 72% of total exports. The second position in the ranking was taken by Nigeria ($X), with a 23% share of total exports.

From 2012 to 2021, the average annual growth rate of value in Ghana totaled +18.0%.

Export Prices by Country

In 2021, the export price in ECOWAS amounted to $X per litre, with a decrease of -34.2% against the previous year. Over the period under review, the export price, however, recorded a relatively flat trend pattern. The most prominent rate of growth was recorded in 2016 when the export price increased by 77%. As a result, the export price attained the peak level of $X per litre. From 2017 to 2021, the export prices remained at a somewhat lower figure.

Average prices varied noticeably amongst the major exporting countries. In 2021, amid the top suppliers, the country with the highest price was Ghana ($X per litre), while Nigeria totaled $X per litre.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Ghana (+3.8%).

Imports of Cider, Perry, Mead And Other Fermented Beverages

Imports in ECOWAS

In 2021, after three years of decline, there was significant growth in purchases abroad of cider, perry, mead and other fermented beverages, when their volume increased by 118% to X litres. Total imports indicated a remarkable increase from 2012 to 2021: its volume increased at an average annual rate of +7.3% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. As a result, imports reached the peak and are likely to continue growth in the immediate term.

In value terms, cider, perry and mead imports skyrocketed to $X in 2021. Overall, imports continue to indicate a relatively flat trend pattern. Over the period under review, imports hit record highs at $X in 2013; however, from 2014 to 2021, imports remained at a lower figure.

Imports by Country

Togo (X litres) and Ghana (X litres) prevails in imports structure, together committing 71% of total imports. Nigeria (X litres) took the next position in the ranking, followed by Sierra Leone (X litres) and Senegal (X litres). All these countries together held near 20% share of total imports. The following importers - Benin (X litres) and Cabo Verde (X litres) - together made up 5.5% of total imports.

From 2012 to 2021, the biggest increases were recorded for Senegal (with a CAGR of +65.4%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, the largest cider, perry and mead importing markets in ECOWAS were Ghana ($X), Nigeria ($X) and Sierra Leone ($X), with a combined 71% share of total imports. Togo, Senegal, Benin and Cabo Verde lagged somewhat behind, together accounting for a further 22%.

Cabo Verde, with a CAGR of +57.7%, recorded 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 2021, the import price in ECOWAS amounted to $X per litre, dropping by -29.5% against the previous year. Over the period under review, the import price showed a deep setback. The pace of growth was the most pronounced in 2018 an increase of 39% against the previous year. The level of import peaked at $X per litre in 2012; however, from 2013 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 Nigeria ($X per litre), while Togo ($X per litre) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Cabo Verde (+5.9%), while the other leaders experienced mixed trends in the import price figures.

Source: IndexBox Platform