ECOWAS: Market for Colouring Matter Of Vegetable Or Animal Origin 2025

Market Size for Colouring Matter Of Vegetable Or Animal Origin in ECOWAS

The ECOWAS market for colouring matter of vegetable or animal origin expanded remarkably to $X in 2021, with an increase of 8.2% against the previous year. Over the period under review, consumption showed a resilient increase. The level of consumption peaked at $X in 2019; however, from 2020 to 2021, consumption stood at a somewhat lower figure.

Production of Colouring Matter Of Vegetable Or Animal Origin in ECOWAS

In value terms, vegetable or animal colouring matter production rose significantly to $X in 2021 estimated in export price. In general, production continues to indicate a buoyant increase. The most prominent rate of growth was recorded in 2017 with an increase of 32% against the previous year. The level of production peaked at $X in 2019; however, from 2020 to 2021, production remained at a lower figure.

Exports of Colouring Matter Of Vegetable Or Animal Origin

Exports in ECOWAS

In 2021, exports of colouring matter of vegetable or animal origin in ECOWAS reduced notably to X tons, declining by -65.2% compared with the previous year's figure. In general, exports showed a abrupt descent. The pace of growth appeared the most rapid in 2017 with an increase of 76%. Over the period under review, the exports reached the peak figure at X tons in 2012; however, from 2013 to 2021, the exports stood at a somewhat lower figure.

In value terms, vegetable or animal colouring matter exports skyrocketed to $X in 2021. Over the period under review, exports showed a perceptible decrease. Over the period under review, the exports attained the maximum at $X in 2018; however, from 2019 to 2021, the exports remained at a lower figure.

Exports by Country

In 2021, Cote d'Ivoire (X tons) represented the main exporter of colouring matter of vegetable or animal origin, generating 67% of total exports. Ghana (X tons) took a 22% share (based on physical terms) of total exports, which put it in second place, followed by Nigeria (7%). Niger (X tons) followed a long way behind the leaders.

From 2012 to 2021, average annual rates of growth with regard to vegetable or animal colouring matter exports from Cote d'Ivoire stood at -19.3%. Ghana experienced a relatively flat trend pattern. Nigeria (-3.6%) and Niger (-4.2%) illustrated a downward trend over the same period. Ghana (+18 p.p.), Nigeria (+5.1 p.p.) and Niger (+2.2 p.p.) significantly strengthened its position in terms of the total exports, while Cote d'Ivoire saw its share reduced by -23.1% from 2012 to 2021, respectively.

In value terms, Cote d'Ivoire ($X) remains the largest vegetable or animal colouring matter supplier in ECOWAS, comprising 96% of total exports. The second position in the ranking was held by Niger ($X), with a 1.5% share of total exports. It was followed by Ghana, with a 1.2% share.

From 2012 to 2021, the average annual growth rate of value in Cote d'Ivoire totaled -1.7%. The remaining exporting countries recorded the following average annual rates of exports growth: Niger (+20.5% per year) and Ghana (-10.0% per year).

Export Prices by Country

In 2021, the export price in ECOWAS amounted to $X per ton, with an increase of 940% against the previous year. Over the period under review, the export price posted strong growth. As a result, the export price reached the peak level and is likely to continue growth in the immediate term.

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 ($X per ton), while Ghana ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Niger (+25.9%), while the other leaders experienced more modest paces of growth.

Imports of Colouring Matter Of Vegetable Or Animal Origin

Imports in ECOWAS

In 2021, the amount of colouring matter of vegetable or animal origin imported in ECOWAS soared to X tons, surging by 23% compared with the previous year's figure. Over the period under review, imports continue to indicate a strong increase. The most prominent rate of growth was recorded in 2017 when imports increased by 98% against the previous year. As a result, imports attained the peak of X tons. From 2018 to 2021, the growth of imports remained at a somewhat lower figure.

In value terms, vegetable or animal colouring matter imports surged to $X in 2021. In general, imports recorded a buoyant increase. The pace of growth was the most pronounced in 2017 when imports increased by 72%. The level of import peaked in 2021 and is likely to continue growth in years to come.

Imports by Country

Senegal represented the key importer of colouring matter of vegetable or animal origin in ECOWAS, with the volume of imports recording X tons, which was near 64% of total imports in 2021. Nigeria (X tons) held an 18% share (based on physical terms) of total imports, which put it in second place, followed by Niger (5.1%). Ghana (X tons), Cote d'Ivoire (X tons) and Cabo Verde (X tons) followed a long way behind the leaders.

Senegal was also the fastest-growing in terms of the colouring matter of vegetable or animal origin imports, with a CAGR of +49.3% from 2012 to 2021. At the same time, Ghana (+39.6%), Cote d'Ivoire (+14.9%), Niger (+12.0%), Cabo Verde (+11.4%) and Nigeria (+4.4%) displayed positive paces of growth. Senegal (+61 p.p.), Ghana (+3.7 p.p.), Niger (+2 p.p.) and Cote d'Ivoire (+1.8 p.p.) significantly strengthened its position in terms of the total imports, while Nigeria saw its share reduced by -2.1% from 2012 to 2021, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Senegal ($X) constitutes the largest market for imported colouring matter of vegetable or animal origin in ECOWAS, comprising 54% of total imports. The second position in the ranking was held by Nigeria ($X), with a 15% share of total imports. It was followed by Cote d'Ivoire, with a 14% share.

In Senegal, vegetable or animal colouring matter imports expanded at an average annual rate of +59.1% over the period from 2012-2021. The remaining importing countries recorded the following average annual rates of imports growth: Nigeria (+4.6% per year) and Cote d'Ivoire (+13.7% per year).

Import Prices by Country

In 2021, the import price in ECOWAS amounted to $X per ton, growing by 9.7% against the previous year. Import price indicated a prominent expansion from 2012 to 2021: its price increased at an average annual rate of +9.5% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, vegetable or animal colouring matter import price increased by +95.1% against 2017 indices. The most prominent rate of growth was recorded in 2018 when the import price increased by 47% against the previous year. Over the period under review, import prices attained the maximum in 2021 and is expected to retain growth in the immediate term.

Prices varied noticeably by country of destination: amid the top importers, the country with the highest price was Cote d'Ivoire ($X per ton), while Cabo Verde ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Ghana (+6.5%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform