ECOWAS: Frozen Fish Meat Market 2025

Frozen Fish Meat Market Size in ECOWAS

The ECOWAS frozen fish meat market rose rapidly to $X in 2021, increasing by 15% against the previous year. The total consumption indicated a resilient expansion from 2012 to 2021: its value increased at an average annual rate of +5.0% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, consumption decreased by -3.3% against 2019 indices. The level of consumption peaked at $X in 2019; however, from 2020 to 2021, consumption failed to regain momentum.

Frozen Fish Meat Production in ECOWAS

In value terms, frozen fish meat production declined modestly to $X in 2021 estimated in export price. Over the period under review, production saw a slight reduction. The growth pace was the most rapid in 2019 with an increase of 11% against the previous year. Over the period under review, production attained the maximum level at $X in 2012; however, from 2013 to 2021, production failed to regain momentum.

Frozen Fish Meat Exports

Exports in ECOWAS

In 2021, shipments abroad of frozen fish meat was finally on the rise to reach X tons after seven years of decline. In general, exports, however, showed a deep setback. The volume of export peaked at X tons in 2013; however, from 2014 to 2021, the exports remained at a lower figure.

In value terms, frozen fish meat exports soared to $X in 2021. Over the period under review, exports, however, continue to indicate a deep reduction. Over the period under review, the exports attained the maximum at $X in 2013; however, from 2014 to 2021, the exports failed to regain momentum.

Exports by Country

Senegal dominates exports structure, resulting at X tons, which was approx. 84% of total exports in 2021. It was distantly followed by Ghana (X tons), constituting a 7.8% share of total exports. The following exporters - Nigeria (X tons), Cote d'Ivoire (X tons) and Gambia (X tons) - together made up 7.8% of total exports.

Exports from Senegal increased at an average annual rate of +2.9% from 2012 to 2021. At the same time, Cote d'Ivoire (+18.7%) and Gambia (+8.5%) displayed positive paces of growth. Moreover, Cote d'Ivoire emerged as the fastest-growing exporter exported in ECOWAS, with a CAGR of +18.7% from 2012-2021. By contrast, Nigeria (-8.2%) and Ghana (-19.9%) illustrated a downward trend over the same period. While the share of Senegal (+55 p.p.) and Cote d'Ivoire (+1.9 p.p.) increased significantly in terms of the total exports from 2012-2021, the share of Ghana (-17.9 p.p.) displayed negative dynamics. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Senegal ($X) emerged as the largest frozen fish meat supplier in ECOWAS, comprising 88% of total exports. The second position in the ranking was taken by Ghana ($X), with a 6.4% share of total exports. It was followed by Nigeria, with a 3.5% share.

In Senegal, frozen fish meat exports increased at an average annual rate of +4.9% over the period from 2012-2021. The remaining exporting countries recorded the following average annual rates of exports growth: Ghana (-19.8% per year) and Nigeria (-7.8% per year).

Export Prices by Country

The export price in ECOWAS stood at $X per ton in 2021, jumping by 41% against the previous year. In general, the export price, however, recorded a mild decrease. The most prominent rate of growth was recorded in 2017 an increase of 48% against the previous year. Over the period under review, the export prices attained the peak figure at $X per ton in 2012; however, from 2013 to 2021, 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 Senegal ($X per ton), while Gambia ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Gambia (+9.6%), while the other leaders experienced more modest paces of growth.

Frozen Fish Meat Imports

Imports in ECOWAS

In 2021, overseas purchases of frozen fish meat were finally on the rise to reach X tons for the first time since 2017, thus ending a three-year declining trend. Overall, imports showed a remarkable increase. The most prominent rate of growth was recorded in 2017 with an increase of 113% against the previous year. As a result, imports attained the peak of X tons. From 2018 to 2021, the growth of imports remained at a somewhat lower figure.

In value terms, frozen fish meat imports skyrocketed to $X in 2021. In general, imports showed a buoyant increase. The most prominent rate of growth was recorded in 2018 when imports increased by 120% against the previous year. As a result, imports reached the peak of $X. From 2019 to 2021, the growth of imports remained at a somewhat lower figure.

Imports by Country

The purchases of the three major importers of frozen fish meat, namely Ghana, Cabo Verde and Nigeria, represented more than two-thirds of total import. Burkina Faso (X tons) followed a long way behind the leaders.

From 2012 to 2021, the biggest increases were recorded for Ghana (with a CAGR of +42.5%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, Cabo Verde ($X) constitutes the largest market for imported frozen fish meat in ECOWAS, comprising 55% of total imports. The second position in the ranking was taken by Nigeria ($X), with a 13% share of total imports. It was followed by Ghana, with an 11% share.

In Cabo Verde, frozen fish meat imports increased at an average annual rate of +18.6% over the period from 2012-2021. In the other countries, the average annual rates were as follows: Nigeria (-4.0% per year) and Ghana (+18.2% per year).

Import Prices by Country

In 2021, the import price in ECOWAS amounted to $X per ton, surging by 10% against the previous year. Import price indicated a slight increase from 2012 to 2021: its price increased at an average annual rate of +1.5% 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 fish meat import price decreased by -7.5% against 2019 indices. The most prominent rate of growth was recorded in 2018 when the import price increased by 122% against the previous year. The level of import peaked at $X per ton in 2019; however, from 2020 to 2021, import prices failed to regain momentum.

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 Burkina Faso ($X per ton), while Ghana ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Cabo Verde (+4.7%), while the other leaders experienced a decline in the import price figures.

Source: IndexBox Platform