ECOWAS: Frozen Chicken Cut Market 2024

Frozen Chicken Cut Market Size in ECOWAS

After five years of growth, the ECOWAS frozen chicken cut market decreased by -5.9% to $X in 2022. Over the period under review, consumption recorded a relatively flat trend pattern. The level of consumption peaked at $X in 2012; however, from 2013 to 2022, consumption failed to regain momentum.

Frozen Chicken Cut Production in ECOWAS

In value terms, frozen chicken cut production dropped slightly to $X in 2022 estimated in export price. In general, production saw a deep reduction. The most prominent rate of growth was recorded in 2018 with an increase of 6.6%. The level of production peaked at $X in 2012; however, from 2013 to 2022, production remained at a lower figure.

Nigeria (X tons) remains the largest frozen chicken cut producing country in ECOWAS, comprising approx. 60% of total volume. Moreover, frozen chicken cut production in Nigeria exceeded the figures recorded by the second-largest producer, Cote d'Ivoire (X tons), sixfold. Niger (X tons) ranked third in terms of total production with a 7.1% share.

In Nigeria, frozen chicken cut production remained relatively stable over the period from 2012-2022. In the other countries, the average annual rates were as follows: Cote d'Ivoire (-0.0% per year) and Niger (-1.7% per year).

Frozen Chicken Cut Exports

Exports in ECOWAS

In 2022, overseas shipments of frozen cuts of chicken decreased by -60.5% to X tons, falling for the fourth year in a row after two years of growth. In general, exports recorded a precipitous curtailment. The growth pace was the most rapid in 2015 with an increase of 281% against the previous year. The volume of export peaked at X tons in 2018; however, from 2019 to 2022, the exports remained at a lower figure.

In value terms, frozen chicken cut exports declined remarkably to $X in 2022. Overall, exports saw a sharp slump. The growth pace was the most rapid in 2015 when exports increased by 152%. Over the period under review, the exports hit record highs at $X in 2018; however, from 2019 to 2022, the exports failed to regain momentum.

Exports by Country

Liberia represented the main exporting country with an export of about X tons, which resulted at 68% of total exports. Ghana (X tons) ranks second in terms of the total exports with a 21% share, followed by Togo (5.5%). Benin (X tons) and Cabo Verde (X tons) followed a long way behind the leaders.

Liberia was also the fastest-growing in terms of the frozen cuts of chicken exports, with a CAGR of +8.1% from 2012 to 2022. Cabo Verde (-7.6%), Togo (-9.2%), Ghana (-14.6%) and Benin (-44.5%) illustrated a downward trend over the same period. From 2012 to 2022, the share of Liberia, Ghana, Togo and Cabo Verde increased by +66, +14, +4.5 and +1.6 percentage points, respectively.

In value terms, Liberia ($X), Ghana ($X) and Benin ($X) appeared to be the countries with the highest levels of exports in 2022, together accounting for 89% of total exports.

In terms of the main exporting countries, Liberia, with a CAGR of +5.3%, recorded the highest rates of growth with regard to the value of exports, over the period under review, while shipments for the other leaders experienced a decline in the exports figures.

Export Prices by Country

In 2022, the export price in ECOWAS amounted to $X per ton, dropping by -31.4% against the previous year. Over the period under review, the export price showed a perceptible shrinkage. The most prominent rate of growth was recorded in 2016 an increase of 42% against the previous year. Over the period under review, the export prices hit record highs at $X per ton in 2020; however, from 2021 to 2022, the export prices remained at a lower figure.

Prices varied noticeably by country of origin: amid the top suppliers, the country with the highest price was Cabo Verde ($X per ton), while Togo ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Benin (+7.0%), while the other leaders experienced more modest paces of growth.

Frozen Chicken Cut Imports

Imports in ECOWAS

After five years of growth, supplies from abroad of frozen cuts of chicken decreased by -3.9% to X tons in 2022. Over the period under review, imports, however, enjoyed prominent growth. The pace of growth was the most pronounced in 2019 with an increase of 81% against the previous year. The volume of import peaked at X tons in 2021, and then contracted in the following year.

In value terms, frozen chicken cut imports shrank to $X in 2022. In general, imports, however, showed a buoyant expansion. The pace of growth appeared the most rapid in 2019 when imports increased by 78% against the previous year. Over the period under review, imports reached the peak figure at $X in 2021, and then contracted in the following year.

Imports by Country

Ghana prevails in imports structure, reaching X tons, which was near 61% of total imports in 2022. Benin (X tons) held an 8.8% share (based on physical terms) of total imports, which put it in second place, followed by Liberia (8.6%), Sierra Leone (6.5%) and Guinea (5.3%). Gambia (X tons) and Togo (X tons) followed a long way behind the leaders.

Imports into Ghana increased at an average annual rate of +11.9% from 2012 to 2022. At the same time, Guinea (+29.0%), Togo (+28.3%), Gambia (+15.9%), Liberia (+14.2%) and Sierra Leone (+10.5%) displayed positive paces of growth. Moreover, Guinea emerged as the fastest-growing importer imported in ECOWAS, with a CAGR of +29.0% from 2012-2022. By contrast, Benin (-2.7%) illustrated a downward trend over the same period. While the share of Ghana (+9.9 p.p.), Guinea (+4.2 p.p.), Liberia (+2.7 p.p.), Gambia (+1.6 p.p.) and Togo (+1.6 p.p.) increased significantly in terms of the total imports from 2012-2022, the share of Benin (-21 p.p.) displayed negative dynamics. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Ghana ($X) constitutes the largest market for imported frozen cuts of chicken in ECOWAS, comprising 66% of total imports. The second position in the ranking was held by Benin ($X), with a 7.9% share of total imports. It was followed by Liberia, with a 6.2% share.

From 2012 to 2022, the average annual rate of growth in terms of value in Ghana totaled +9.9%. In the other countries, the average annual rates were as follows: Benin (-6.4% per year) and Liberia (+14.5% per year).

Import Prices by Country

The import price in ECOWAS stood at $X per ton in 2022, declining by -9.9% against the previous year. Overall, the import price showed a pronounced downturn. The pace of growth was the most pronounced in 2021 an increase of 24%. The level of import peaked at $X per ton in 2012; however, from 2013 to 2022, import prices remained at a lower figure.

Average prices varied somewhat amongst the major importing countries. In 2022, major importing countries recorded the following prices: in Ghana ($X per ton) and Gambia ($X per ton), while Liberia ($X per ton) and Togo ($X per ton) were amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Liberia (+0.3%), while the other leaders experienced a decline in the import price figures.

Source: IndexBox Platform