ECOWAS: Market for Crabs and Crab Meat 2024

Market Size for Crabs and Crab Meat in ECOWAS

The ECOWAS crab and crab meat market contracted to $X in 2021, falling by -6.1% against the previous year. The market value increased at an average annual rate of +2.4% over the period from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The level of consumption peaked at $X in 2020, and then contracted in the following year.

Production of Crabs and Crab Meat in ECOWAS

In value terms, crab and crab meat production declined to $X in 2021 estimated in export price. Over the period under review, production recorded a perceptible setback. The pace of growth was the most pronounced in 2020 with an increase of 30% against the previous year. The level of production peaked at $X in 2012; however, from 2013 to 2021, production remained at a lower figure.

Exports of Crabs and Crab Meat

Exports in ECOWAS

Crab and crab meat exports surged to X tons in 2021, jumping by 133% against 2020 figures. In general, exports enjoyed moderate growth. The most prominent rate of growth was recorded in 2015 with an increase of 333%. As a result, the exports attained the peak of X tons. From 2016 to 2021, the growth of the exports remained at a lower figure.

In value terms, crab and crab meat exports surged to $X in 2021. Overall, exports, however, continue to indicate a abrupt downturn. The growth pace was the most rapid in 2015 when exports increased by 646% against the previous year. As a result, the exports reached the peak of $X. From 2016 to 2021, the growth of the exports failed to regain momentum.

Exports by Country

In 2021, Senegal (X tons) represented the key exporter of crabs and crab meat, generating 68% of total exports. It was distantly followed by Gambia (X tons), comprising a 31% share of total exports.

From 2012 to 2021, average annual rates of growth with regard to crab and crab meat exports from Senegal stood at +12.4%. At the same time, Gambia (+165.8%) displayed positive paces of growth. Moreover, Gambia emerged as the fastest-growing exporter exported in ECOWAS, with a CAGR of +165.8% from 2012-2021. Senegal (+36 p.p.) and Gambia (+31 p.p.) significantly strengthened its position in terms of the total exports, while the shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Senegal ($X) remains the largest crab and crab meat supplier in ECOWAS, comprising 70% of total exports. The second position in the ranking was taken by Gambia ($X), with a 28% share of total exports.

In Senegal, crab and crab meat exports expanded at an average annual rate of +19.8% over the period from 2012-2021.

Export Prices by Country

In 2021, the export price in ECOWAS amounted to $X per ton, growing by 22% against the previous year. Overall, the export price, however, showed a abrupt curtailment. The most prominent rate of growth was recorded in 2015 an increase of 72% against the previous year. Over the period under review, the export prices reached the maximum at $X per ton in 2012; however, from 2013 to 2021, the export prices failed to regain momentum.

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

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Gambia (+15.2%).

Imports of Crabs and Crab Meat

Imports in ECOWAS

In 2021, supplies from abroad of crabs and crab meat decreased by -15.4% to X tons for the first time since 2018, thus ending a two-year rising trend. In general, imports, however, posted resilient growth. The pace of growth was the most pronounced in 2015 when imports increased by 261%. The volume of import peaked at X tons in 2017; however, from 2018 to 2021, imports stood at a somewhat lower figure.

In value terms, crab and crab meat imports soared to $X in 2021. Overall, imports, however, enjoyed a strong increase. The pace of growth appeared the most rapid in 2015 with an increase of 119%. Over the period under review, imports attained the maximum in 2021 and are expected to retain growth in the immediate term.

Imports by Country

Nigeria prevails in imports structure, resulting at X tons, which was near 57% of total imports in 2021. Liberia (X kg) ranks second in terms of the total imports with an 8.2% share, followed by Cabo Verde (7.6%), Burkina Faso (6.1%) and Niger (5.3%). The following importers - Ghana (X kg) and Cote d'Ivoire (X kg) - each recorded an 8.1% share of total imports.

From 2012 to 2021, average annual rates of growth with regard to crab and crab meat imports into Nigeria stood at +40.2%. At the same time, Niger (+98.1%), Liberia (+63.6%), Burkina Faso (+33.5%) and Cote d'Ivoire (+10.9%) displayed positive paces of growth. Moreover, Niger emerged as the fastest-growing importer imported in ECOWAS, with a CAGR of +98.1% from 2012-2021. By contrast, Cabo Verde (-5.3%) and Ghana (-16.5%) illustrated a downward trend over the same period. From 2012 to 2021, the share of Nigeria, Liberia, Niger and Burkina Faso increased by +52, +8.2, +5.3 and +5.2 percentage points, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Nigeria ($X) constitutes the largest market for imported crabs and crab meat in ECOWAS, comprising 67% of total imports. The second position in the ranking was held by Cote d'Ivoire ($X), with a 15% share of total imports. It was followed by Cabo Verde, with a 4.9% share.

In Nigeria, crab and crab meat imports increased at an average annual rate of +43.0% over the period from 2012-2021. In the other countries, the average annual rates were as follows: Cote d'Ivoire (+25.9% per year) and Cabo Verde (+0.3% per year).

Import Prices by Country

In 2021, the import price in ECOWAS amounted to $X per ton, surging by 73% against the previous year. Over the period under review, the import price enjoyed a temperate expansion. The pace of growth appeared the most rapid in 2018 when the import price increased by 86%. Over the period under review, import prices hit record highs in 2021 and is expected to retain growth in years to come.

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 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 Cote d'Ivoire (+13.6%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform