ECOWAS: Crispbread Market 2024

Crispbread Market Size in ECOWAS

In 2021, the ECOWAS crispbread market decreased by -0.6% to $X for the first time since 2016, thus ending a four-year rising trend. The total consumption indicated strong growth from 2012 to 2021: its value increased at an average annual rate of +6.3% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, consumption increased by +82.0% against 2016 indices. The level of consumption peaked at $X in 2020, and then shrank modestly in the following year.

Crispbread Production in ECOWAS

In value terms, crispbread production reduced slightly to $X in 2021 estimated in export price. The total production indicated prominent growth from 2012 to 2021: its value increased at an average annual rate of +6.3% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, production increased by +78.7% against 2016 indices. The most prominent rate of growth was recorded in 2017 when the production volume increased by 50% against the previous year. The level of production peaked at $X in 2020, and then contracted slightly in the following year.

Crispbread Exports

Exports in ECOWAS

In 2021, exports of crispbread in ECOWAS surged to X tons, rising by 151% against 2020 figures. Overall, exports, however, continue to indicate a abrupt curtailment. The growth pace was the most rapid in 2020 when exports increased by 211%. Over the period under review, the exports attained the maximum at X tons in 2012; however, from 2013 to 2021, the exports remained at a lower figure.

In value terms, crispbread exports surged to $X in 2021. Over the period under review, exports, however, saw a deep reduction. Over the period under review, the exports reached the peak figure at $X in 2012; however, from 2013 to 2021, the exports remained at a lower figure.

Exports by Country

Cote d'Ivoire prevails in exports structure, amounting to X tons, which was approx. 93% of total exports in 2021. It was distantly followed by Nigeria (X tons), creating a 6.6% share of total exports.

Cote d'Ivoire was also the fastest-growing in terms of the crispbread exports, with a CAGR of +91.3% from 2012 to 2021. Nigeria (-34.3%) illustrated a downward trend over the same period. While the share of Cote d'Ivoire (+93 p.p.) increased significantly in terms of the total exports from 2012-2021, the share of Nigeria (-92.2 p.p.) displayed negative dynamics.

In value terms, Cote d'Ivoire ($X) emerged as the largest crispbread supplier in ECOWAS, comprising 90% of total exports. The second position in the ranking was taken by Nigeria ($X), with a 9.8% share of total exports.

From 2012 to 2021, the average annual growth rate of value in Cote d'Ivoire amounted to +82.7%.

Export Prices by Country

The export price in ECOWAS stood at $X per ton in 2021, with an increase of 33% against the previous year. In general, the export price, however, saw a relatively flat trend pattern. The pace of growth appeared the most rapid in 2017 when the export price increased by 91% against the previous year. Over the period under review, the export prices reached the maximum at $X per ton in 2014; however, from 2015 to 2021, the export prices stood at a somewhat lower figure.

There were significant differences in the average prices amongst the major exporting countries. In 2021, the country with the highest price was Nigeria ($X per ton), while Cote d'Ivoire amounted to $X per ton.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Nigeria (+4.1%).

Crispbread Imports

Imports in ECOWAS

In 2021, crispbread imports in ECOWAS skyrocketed to X tons, increasing by 104% against the previous year. In general, imports saw significant growth. The most prominent rate of growth was recorded in 2013 when imports increased by 174% against the previous year. Over the period under review, imports attained the peak figure in 2021 and are likely to see gradual growth in years to come.

In value terms, crispbread imports surged to $X in 2021. Overall, imports enjoyed significant growth. The pace of growth was the most pronounced in 2013 with an increase of 133% against the previous year. The level of import peaked in 2021 and is likely to see steady growth in the near future.

Imports by Country

Cote d'Ivoire represented the major importing country with an import of around X tons, which accounted for 75% of total imports. Burkina Faso (X tons) held a 13% share (based on physical terms) of total imports, which put it in second place, followed by Ghana (4.5%). Nigeria (X tons) and Togo (X tons) followed a long way behind the leaders.

Imports into Cote d'Ivoire increased at an average annual rate of +75.4% from 2012 to 2021. At the same time, Burkina Faso (+272.0%), Togo (+37.1%) and Nigeria (+31.3%) displayed positive paces of growth. Moreover, Burkina Faso emerged as the fastest-growing importer imported in ECOWAS, with a CAGR of +272.0% from 2012-2021. By contrast, Ghana (-2.0%) illustrated a downward trend over the same period. From 2012 to 2021, the share of Cote d'Ivoire and Burkina Faso increased by +68 and +13 percentage points, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Cote d'Ivoire ($X) constitutes the largest market for imported crispbread in ECOWAS, comprising 82% of total imports. The second position in the ranking was held by Ghana ($X), with a 5.8% share of total imports. It was followed by Burkina Faso, with a 2.8% share.

In Cote d'Ivoire, crispbread imports increased at an average annual rate of +71.8% over the period from 2012-2021. The remaining importing countries recorded the following average annual rates of imports growth: Ghana (-3.8% per year) and Burkina Faso (+228.2% per year).

Import Prices by Country

In 2021, the import price in ECOWAS amounted to $X per ton, dropping by -6.5% against the previous year. Over the period under review, the import price recorded a pronounced downturn. The growth pace was the most rapid in 2019 an increase of 24% against the previous year. As a result, import price reached the peak level of $X per ton. From 2020 to 2021, the import prices remained at a lower figure.

There were significant differences in the average prices amongst the major importing countries. In 2021, 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 Togo (+0.1%), while the other leaders experienced a decline in the import price figures.

Source: IndexBox Platform