ECOWAS: Concentrated Pineapple Juice Market 2024

Concentrated Pineapple Juice Market Size in ECOWAS

In 2021, the ECOWAS concentrated pineapple juice market decreased by -49.2% to $X for the first time since 2017, thus ending a three-year rising trend. In general, consumption, however, recorded a pronounced expansion. As a result, consumption attained the peak level of $X, and then contracted significantly in the following year.

Concentrated Pineapple Juice Production in ECOWAS

In value terms, concentrated pineapple juice production dropped modestly to $X in 2021 estimated in export price. The total production indicated temperate growth from 2012 to 2021: its value increased at an average annual rate of +4.8% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, production increased by +63.9% against 2014 indices. The most prominent rate of growth was recorded in 2015 with an increase of 35% against the previous year. The level of production peaked at $X in 2020, and then fell slightly in the following year.

Concentrated Pineapple Juice Exports

Exports in ECOWAS

In 2021, exports of concentrated pineapple juice in ECOWAS fell sharply to X tons, with a decrease of -25% on the year before. Over the period under review, exports continue to indicate a relatively flat trend pattern. The pace of growth appeared the most rapid in 2017 with an increase of 114%. As a result, the exports reached the peak of X tons. From 2018 to 2021, the growth of the exports failed to regain momentum.

In value terms, concentrated pineapple juice exports dropped significantly to $X in 2021. Overall, exports, however, continue to indicate a remarkable increase. The most prominent rate of growth was recorded in 2017 with an increase of 119%. As a result, the exports reached the peak of $X. From 2018 to 2021, the growth of the exports remained at a lower figure.

Exports by Country

Ghana represented the largest exporter of concentrated pineapple juice in ECOWAS, with the volume of exports accounting for X tons, which was approx. 82% of total exports in 2021. It was distantly followed by Senegal (X tons), mixing up a 12% share of total exports. Benin (X tons) and Cote d'Ivoire (X tons) took a little share of total exports.

From 2012 to 2021, average annual rates of growth with regard to concentrated pineapple juice exports from Ghana stood at +3.0%. At the same time, Senegal (+43.4%) displayed positive paces of growth. Moreover, Senegal emerged as the fastest-growing exporter exported in ECOWAS, with a CAGR of +43.4% from 2012-2021. By contrast, Benin (-14.9%) and Cote d'Ivoire (-23.4%) illustrated a downward trend over the same period. While the share of Ghana (+22 p.p.) and Senegal (+11 p.p.) increased significantly in terms of the total exports from 2012-2021, the share of Benin (-12.2 p.p.) and Cote d'Ivoire (-17.5 p.p.) displayed negative dynamics.

In value terms, Ghana ($X) remains the largest concentrated pineapple juice supplier in ECOWAS, comprising 75% of total exports. The second position in the ranking was taken by Senegal ($X), with an 18% share of total exports. It was followed by Cote d'Ivoire, with a 3.1% share.

From 2012 to 2021, the average annual growth rate of value in Ghana stood at +8.9%. The remaining exporting countries recorded the following average annual rates of exports growth: Senegal (+47.6% per year) and Cote d'Ivoire (-14.4% per year).

Export Prices by Country

In 2021, the export price in ECOWAS amounted to $X per ton, growing by 7.5% against the previous year. Export price indicated resilient growth from 2012 to 2021: its price increased at an average annual rate of +6.1% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, concentrated pineapple juice export price increased by +111.6% against 2014 indices. The most prominent rate of growth was recorded in 2015 an increase of 33%. The level of export peaked in 2021 and is likely to see steady growth in the near future.

There were significant differences in the average prices amongst the major exporting countries. In 2021, the country with the highest price was Cote d'Ivoire ($X per ton), while Benin ($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 (+11.7%), while the other leaders experienced more modest paces of growth.

Concentrated Pineapple Juice Imports

Imports in ECOWAS

After three years of growth, overseas purchases of concentrated pineapple juice decreased by -48.2% to X tons in 2021. Overall, imports, however, enjoyed a perceptible increase. The most prominent rate of growth was recorded in 2020 with an increase of 80% against the previous year. As a result, imports reached the peak of X tons, and then fell sharply in the following year.

In value terms, concentrated pineapple juice imports fell rapidly to $X in 2021. In general, imports, however, showed temperate growth. The pace of growth was the most pronounced in 2020 when imports increased by 166%. As a result, imports reached the peak of $X, and then fell notably in the following year.

Imports by Country

Nigeria represented the largest importing country with an import of around X tons, which reached 52% of total imports. It was distantly followed by Burkina Faso (X tons) and Senegal (X tons), together generating a 33% share of total imports. Ghana (X tons), Guinea (X tons), Cote d'Ivoire (X tons) and Sierra Leone (X tons) followed a long way behind the leaders.

From 2012 to 2021, average annual rates of growth with regard to concentrated pineapple juice imports into Nigeria stood at +3.7%. At the same time, Sierra Leone (+31.0%), Guinea (+30.2%), Burkina Faso (+7.9%) and Senegal (+1.0%) displayed positive paces of growth. Moreover, Sierra Leone emerged as the fastest-growing importer imported in ECOWAS, with a CAGR of +31.0% from 2012-2021. By contrast, Cote d'Ivoire (-7.8%) and Ghana (-11.5%) illustrated a downward trend over the same period. Burkina Faso (+9 p.p.), Nigeria (+6.3 p.p.), Guinea (+2.2 p.p.) and Sierra Leone (+1.6 p.p.) significantly strengthened its position in terms of the total imports, while Cote d'Ivoire and Ghana saw its share reduced by -3.6% and -9.9% from 2012 to 2021, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Nigeria ($X) constitutes the largest market for imported concentrated pineapple juice in ECOWAS, comprising 66% of total imports. The second position in the ranking was held by Burkina Faso ($X), with an 11% share of total imports. It was followed by Senegal, with a 7.7% share.

In Nigeria, concentrated pineapple juice imports expanded at an average annual rate of +2.3% over the period from 2012-2021. The remaining importing countries recorded the following average annual rates of imports growth: Burkina Faso (+16.8% per year) and Senegal (+2.1% per year).

Import Prices by Country

The import price in ECOWAS stood at $X per ton in 2021, waning by -2.9% against the previous year. Over the period under review, the import price, however, showed a relatively flat trend pattern. The pace of growth was the most pronounced in 2020 an increase of 48% against the previous year. As a result, import price attained the peak level of $X per ton, and then shrank slightly in the following year.

Prices varied noticeably country of destination: the country with the highest price was Sierra Leone ($X per ton), while Burkina Faso ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Sierra Leone (+13.1%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform