ECOWAS: Coffee Substitutes Market 2024

Coffee Substitutes Market Size in ECOWAS

The ECOWAS coffee substitutes market amounted to $X in 2022, standing approx. at the previous year. The total consumption indicated pronounced growth from 2012 to 2022: its value increased at an average annual rate of +3.5% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, consumption decreased by -4.8% against 2020 indices. Over the period under review, the market reached the maximum level at $X in 2020; however, from 2021 to 2022, consumption remained at a lower figure.

Coffee Substitutes Production in ECOWAS

In value terms, coffee substitutes production expanded to $X in 2022 estimated in export price. The total production indicated a temperate expansion from 2012 to 2022: its value increased at an average annual rate of +3.6% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, production decreased by -1.7% against 2020 indices. The growth pace was the most rapid in 2018 when the production volume increased by 29% against the previous year. The level of production peaked at $X in 2020; however, from 2021 to 2022, production stood at a somewhat lower figure.

Coffee Substitutes Exports

Exports in ECOWAS

In 2022, approx. X tons of coffee substitutes containing coffee were exported in ECOWAS; rising by 49% on the previous year's figure. Overall, exports enjoyed a resilient expansion. The pace of growth was the most pronounced in 2017 with an increase of 278%. As a result, the exports attained the peak of X tons. From 2018 to 2022, the growth of the exports failed to regain momentum.

In value terms, coffee substitutes exports expanded significantly to $X in 2022. Over the period under review, exports, however, showed a mild slump. The growth pace was the most rapid in 2014 with an increase of 756%. Over the period under review, the exports attained the maximum at $X in 2015; however, from 2016 to 2022, the exports remained at a lower figure.

Exports by Country

Burkina Faso (X tons) and Ghana (X tons) dominates exports structure, together mixing up 92% of total exports. It was distantly followed by Guinea (X tons), making up a 6.5% share of total exports. Senegal (X tons) followed a long way behind the leaders.

From 2012 to 2022, the most notable rate of growth in terms of shipments, amongst the key exporting countries, was attained by Burkina Faso (with a CAGR of +340.0%), while the other leaders experienced mixed trends in the exports figures.

In value terms, Ghana ($X), Guinea ($X) and Senegal ($X) were the countries with the highest levels of exports in 2022, with a combined 95% share of total exports. Burkina Faso lagged somewhat behind, accounting for a further 3%.

Burkina Faso, with a CAGR of +225.4%, recorded 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 mixed trends in the exports figures.

Export Prices by Country

In 2022, the export price in ECOWAS amounted to $X per ton, declining by -24.1% against the previous year. Overall, the export price saw a abrupt shrinkage. The most prominent rate of growth was recorded in 2014 an increase of 158% against the previous year. As a result, the export price reached the peak level of $X per ton. From 2015 to 2022, the export prices remained at a somewhat lower figure.

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 Senegal ($X per ton), while Burkina Faso ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Guinea (+4.5%), while the other leaders experienced mixed trends in the export price figures.

Coffee Substitutes Imports

Imports in ECOWAS

In 2022, overseas purchases of coffee substitutes containing coffee decreased by -0.7% to X tons, falling for the second year in a row after six years of growth. In general, imports, however, recorded buoyant growth. The pace of growth appeared the most rapid in 2019 with an increase of 96%. Over the period under review, imports hit record highs at X tons in 2020; however, from 2021 to 2022, imports remained at a lower figure.

In value terms, coffee substitutes imports declined to $X in 2022. Over the period under review, imports, however, saw resilient growth. The most prominent rate of growth was recorded in 2019 when imports increased by 137% against the previous year. Over the period under review, imports attained the peak figure at $X in 2020; however, from 2021 to 2022, imports remained at a lower figure.

Imports by Country

Nigeria (X tons) and Senegal (X tons) represented the largest importers of coffee substitutes containing coffee in 2022, accounting for approx. 39% and 34% of total imports, respectively. It was distantly followed by Burkina Faso (X tons), creating a 20% share of total imports.

From 2012 to 2022, the biggest increases were recorded for Nigeria (with a CAGR of +33.8%), while purchases for the other leaders experienced mixed trends in the imports figures.

In value terms, Nigeria ($X), Senegal ($X) and Burkina Faso ($X) appeared to be the countries with the highest levels of imports in 2022, with a combined 81% share of total imports.

Nigeria, with a CAGR of +31.5%, recorded the highest rates of growth with regard to the value of imports, in terms of the main importing countries over the period under review, while purchases for the other leaders experienced mixed trends in the imports figures.

Import Prices by Country

In 2022, the import price in ECOWAS amounted to $X per ton, which is down by -13.7% against the previous year. In general, the import price continues to indicate a slight contraction. The most prominent rate of growth was recorded in 2015 an increase of 66%. The level of import peaked at $X per ton in 2016; however, from 2017 to 2022, import prices stood at a somewhat lower figure.

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

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Senegal (+1.3%), while the other leaders experienced a decline in the import price figures.

Source: IndexBox Platform