ECOWAS: Frozen Cuttlefishes Market 2025

Frozen Cuttlefishes Market Size in ECOWAS

The ECOWAS frozen cuttlefishes market expanded slightly to $X in 2021, with an increase of 2.9% against the previous year. In general, consumption recorded a prominent expansion. The level of consumption peaked in 2021 and is expected to retain growth in years to come.

Frozen Cuttlefishes Production in ECOWAS

In value terms, frozen cuttlefishes production contracted 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 +6.1% 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 +43.1% against 2014 indices. The most prominent rate of growth was recorded in 2018 with an increase of 23% against the previous year. Over the period under review, production reached the maximum level at $X in 2020, and then reduced modestly in the following year.

Frozen Cuttlefishes Exports

Exports in ECOWAS

In 2021, approx. X tons of frozen cuttlefishes were exported in ECOWAS; dropping by -16.5% on the year before. The total export volume increased at an average annual rate of +3.4% over the period from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The pace of growth appeared the most rapid in 2013 with an increase of 65%. The volume of export peaked at X tons in 2014; however, from 2015 to 2021, the exports remained at a lower figure.

In value terms, frozen cuttlefishes exports contracted to $X in 2021. The total export value increased at an average annual rate of +3.4% from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The most prominent rate of growth was recorded in 2013 with an increase of 73%. Over the period under review, the exports hit record highs at $X in 2014; however, from 2015 to 2021, the exports stood at a somewhat lower figure.

Exports by Country

Senegal prevails in exports structure, reaching X tons, which was near 98% of total exports in 2021. Cote d'Ivoire (X tons) followed a long way behind the leaders.

Exports from Senegal increased at an average annual rate of +5.7% from 2012 to 2021. At the same time, Cote d'Ivoire (+29.1%) displayed positive paces of growth. Moreover, Cote d'Ivoire emerged as the fastest-growing exporter exported in ECOWAS, with a CAGR of +29.1% from 2012-2021. From 2012 to 2021, the share of Senegal increased by +17 percentage points, while the shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Senegal ($X) remains the largest frozen cuttlefishes supplier in ECOWAS, comprising 98% of total exports. The second position in the ranking was taken by Cote d'Ivoire ($X), with a 0.8% share of total exports.

From 2012 to 2021, the average annual rate of growth in terms of value in Senegal amounted to +5.4%.

Export Prices by Country

In 2021, the export price in ECOWAS amounted to $X per ton, picking up by 13% against the previous year. In general, the export price saw a relatively flat trend pattern. Over the period under review, the export prices reached the peak figure at $X per ton in 2013; however, from 2014 to 2021, the export prices failed to regain momentum.

There were significant differences in the average prices amongst the major exporting countries. In 2021, the country with the highest price was Senegal ($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 Senegal (-0.3%).

Frozen Cuttlefishes Imports

Imports in ECOWAS

In 2021, approx. X tons of frozen cuttlefishes were imported in ECOWAS; growing by 4.8% against 2020 figures. In general, imports enjoyed a measured increase. The growth pace was the most rapid in 2019 when imports increased by 255%. Over the period under review, imports attained the peak figure in 2021 and are likely to see gradual growth in the near future.

In value terms, frozen cuttlefishes imports shrank dramatically to $X in 2021. Over the period under review, imports enjoyed a notable increase. The growth pace was the most rapid in 2019 when imports increased by 350% against the previous year. As a result, imports attained the peak of $X. From 2020 to 2021, the growth of imports remained at a somewhat lower figure.

Imports by Country

Senegal dominates imports structure, recording X tons, which was approx. 93% of total imports in 2021. The following importers - Mali (X tons) and Cabo Verde (X tons) - each accounted for a 3.7% share of total imports.

Senegal was also the fastest-growing in terms of the frozen cuttlefishes imports, with a CAGR of +9.2% from 2012 to 2021. Mali (-1.3%) and Cabo Verde (-23.0%) illustrated a downward trend over the same period. Senegal (+37 p.p.) significantly strengthened its position in terms of the total imports, while Cabo Verde saw its share reduced by -20.7% from 2012 to 2021, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Senegal ($X) constitutes the largest market for imported frozen cuttlefishes in ECOWAS, comprising 93% of total imports. The second position in the ranking was held by Cabo Verde ($X), with a 2.5% share of total imports.

From 2012 to 2021, the average annual rate of growth in terms of value in Senegal amounted to +13.6%. The remaining importing countries recorded the following average annual rates of imports growth: Cabo Verde (-20.5% per year) and Mali (-18.1% per year).

Import Prices by Country

The import price in ECOWAS stood at $X per ton in 2021, shrinking by -22.5% against the previous year. Import price indicated a slight expansion from 2012 to 2021: its price increased at an average annual rate of +1.4% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, frozen cuttlefishes import price decreased by -36.4% against 2019 indices. The most prominent rate of growth was recorded in 2014 when the import price increased by 29% against the previous year. Over the period under review, import prices reached the maximum at $X per ton in 2019; however, from 2020 to 2021, import prices stood at a somewhat lower figure.

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

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Senegal (+4.0%), while the other leaders experienced mixed trends in the import price figures.

Source: IndexBox Platform