ECOWAS: Concentrated Orange Juice Market 2024

Concentrated Orange Juice Market Size in ECOWAS

The ECOWAS concentrated orange juice market soared to $X in 2021, surging by 33% against the previous year. Overall, consumption enjoyed a slight increase. As a result, consumption reached the peak level of $X. From 2020 to 2021, the growth of the market remained at a somewhat lower figure.

Concentrated Orange Juice Production in ECOWAS

In value terms, concentrated orange juice production surged to $X in 2021 estimated in export price. The total output value increased at an average annual rate of +2.7% from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. As a result, production reached the peak level and is likely to continue growth in the immediate term.

Concentrated Orange Juice Exports

Exports in ECOWAS

In 2021, shipments abroad of concentrated orange juice increased by 5.4% to X tons, rising for the second consecutive year after two years of decline. In general, exports recorded a slight increase. The most prominent rate of growth was recorded in 2020 when exports increased by 63%. The volume of export peaked at X tons in 2017; however, from 2018 to 2021, the exports failed to regain momentum.

In value terms, concentrated orange juice exports rose markedly to $X in 2021. Over the period under review, exports, however, showed a abrupt setback. The most prominent rate of growth was recorded in 2013 when exports increased by 66%. As a result, the exports reached the peak of $X. From 2014 to 2021, the growth of the exports remained at a lower figure.

Exports by Country

Senegal represented the key exporter of concentrated orange juice in ECOWAS, with the volume of exports finishing at X tons, which was approx. 59% of total exports in 2021. Ghana (X tons) ranks second in terms of the total exports with a 27% share, followed by Burkina Faso (7.8%). Niger (X tons) and Guinea (X tons) followed a long way behind the leaders.

Senegal was also the fastest-growing in terms of the concentrated orange juice exports, with a CAGR of +51.7% from 2012 to 2021. At the same time, Guinea (+11.9%) and Burkina Faso (+1.5%) displayed positive paces of growth. By contrast, Niger (-7.4%) and Ghana (-8.2%) illustrated a downward trend over the same period. From 2012 to 2021, the share of Senegal increased by +57 percentage points. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, the largest concentrated orange juice supplying countries in ECOWAS were Ghana ($X), Senegal ($X) and Burkina Faso ($X), together comprising 94% of total exports.

Among the main exporting countries, Senegal, with a CAGR of +37.6%, saw the highest rates of growth with regard to the value of exports, over the period under review, while shipments for the other leaders experienced mixed trends in the exports figures.

Export Prices by Country

The export price in ECOWAS stood at $X per ton in 2021, surging by 7.8% against the previous year. Overall, the export price, however, saw a deep reduction. The growth pace was the most rapid in 2019 an increase of 38%. Over the period under review, the export prices attained the peak figure at $X per ton in 2013; however, from 2014 to 2021, the export prices stood at a somewhat lower figure.

Prices varied noticeably country of origin: the country with the highest price was Ghana ($X per ton), while Burkina Faso ($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 (-0.1%), while the other leaders experienced a decline in the export price figures.

Concentrated Orange Juice Imports

Imports in ECOWAS

In 2021, overseas purchases of concentrated orange juice decreased by -4.9% to X tons, falling for the second consecutive year after two years of growth. Overall, imports showed a pronounced shrinkage. The most prominent rate of growth was recorded in 2019 when imports increased by 33%. Over the period under review, imports attained the maximum at X tons in 2013; however, from 2014 to 2021, imports failed to regain momentum.

In value terms, concentrated orange juice imports surged to $X in 2021. In general, imports recorded a relatively flat trend pattern. The pace of growth was the most pronounced in 2019 when imports increased by 35% against the previous year. Over the period under review, imports reached the peak figure at $X in 2013; however, from 2014 to 2021, imports remained at a lower figure.

Imports by Country

In 2021, Nigeria (X tons) represented the largest importer of concentrated orange juice, creating 45% of total imports. Senegal (X tons) took the second position in the ranking, followed by Ghana (X tons) and Cote d'Ivoire (X tons). All these countries together held near 34% share of total imports. Gambia (X tons), Benin (X tons), Mali (X tons), Cabo Verde (X tons), Sierra Leone (X tons), Liberia (X tons), Niger (X tons) and Guinea (X tons) followed a long way behind the leaders.

Imports into Nigeria increased at an average annual rate of +3.2% from 2012 to 2021. At the same time, Benin (+5.6%), Cote d'Ivoire (+3.0%), Liberia (+2.7%), Guinea (+1.4%) and Mali (+1.2%) displayed positive paces of growth. Moreover, Benin emerged as the fastest-growing importer imported in ECOWAS, with a CAGR of +5.6% from 2012-2021. Gambia experienced a relatively flat trend pattern. By contrast, Ghana (-4.3%), Sierra Leone (-6.1%), Cabo Verde (-7.2%), Niger (-12.2%) and Senegal (-14.4%) illustrated a downward trend over the same period. From 2012 to 2021, the share of Nigeria, Cote d'Ivoire and Benin increased by +22, +5 and +1.9 percentage points, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Nigeria ($X) constitutes the largest market for imported concentrated orange juice in ECOWAS, comprising 62% of total imports. The second position in the ranking was taken by Cote d'Ivoire ($X), with an 11% share of total imports. It was followed by Senegal, with an 8.7% share.

From 2012 to 2021, the average annual growth rate of value in Nigeria stood at +3.6%. The remaining importing countries recorded the following average annual rates of imports growth: Cote d'Ivoire (+12.7% per year) and Senegal (-13.1% per year).

Import Prices by Country

In 2021, the import price in ECOWAS amounted to $X per ton, jumping by 22% against the previous year. Import price indicated noticeable growth from 2012 to 2021: its price increased at an average annual rate of +4.0% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, concentrated orange juice import price increased by +72.5% against 2018 indices. The growth pace was the most rapid in 2020 when the import price increased by 39% against the previous year. Over the period under review, import prices attained the maximum in 2021 and is likely to see gradual growth in the immediate term.

There were significant differences in the average prices amongst the major importing countries. In 2021, the country with the highest price was Nigeria ($X per ton), while Sierra Leone ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Cote d'Ivoire (+9.4%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform