ECOWAS: Grape Must Market 2024

Grape Must Market Size in ECOWAS

The ECOWAS grape must market dropped to $X in 2021, shrinking by -10.4% against the previous year. Over the period under review, consumption, however, recorded a buoyant expansion. Over the period under review, the market attained the maximum level at $X in 2020, and then fell in the following year.

Grape Must Production in ECOWAS

In value terms, grape must production shrank to $X in 2021 estimated in export price. Overall, production, however, posted strong growth. The growth pace was the most rapid in 2017 with an increase of 73%. Over the period under review, production attained the maximum level at $X in 2020, and then dropped in the following year.

Grape Must Exports

Exports in ECOWAS

For the third consecutive year, ECOWAS recorded decline in shipments abroad of grape must, which decreased by -16.8% to X litres in 2021. Over the period under review, exports saw a precipitous decrease. The growth pace was the most rapid in 2014 when exports increased by 17% against the previous year. Over the period under review, the exports reached the maximum at X litres in 2012; however, from 2013 to 2021, the exports remained at a lower figure.

In value terms, grape must exports expanded slightly to $X in 2021. Overall, exports recorded a abrupt curtailment. The growth pace was the most rapid in 2014 with an increase of 234% against the previous year. As a result, the exports attained the peak of $X. From 2015 to 2021, the growth of the exports failed to regain momentum.

Exports by Country

Benin dominates exports structure, resulting at X litres, which was approx. 90% of total exports in 2021. It was distantly followed by Ghana (X litres), achieving a 5.2% share of total exports. Togo (X litres) held a minor share of total exports.

Benin was also the fastest-growing in terms of the grape must exports, with a CAGR of -17.5% from 2012 to 2021. Togo (-39.7%) and Ghana (-42.3%) illustrated a downward trend over the same period. While the share of Benin (+59 p.p.) increased significantly in terms of the total exports from 2012-2021, the share of Togo (-20 p.p.) and Ghana (-39.7 p.p.) displayed negative dynamics.

In value terms, Benin ($X) remains the largest grape must supplier in ECOWAS, comprising 60% of total exports. The second position in the ranking was taken by Togo ($X), with a 30% share of total exports.

In Benin, grape must exports increased at an average annual rate of +2.3% over the period from 2012-2021. In the other countries, the average annual rates were as follows: Togo (-12.7% per year) and Ghana (-25.8% per year).

Export Prices by Country

The export price in ECOWAS stood at $X per litre in 2021, growing by 25% against the previous year. Over the period under review, the export price posted significant growth. The pace of growth appeared the most rapid in 2014 when the export price increased by 186% against the previous year. The level of export peaked in 2021 and is expected to retain growth in the near future.

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

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Togo (+44.8%), while the other leaders experienced more modest paces of growth.

Grape Must Imports

Imports in ECOWAS

In 2021, approx. X litres of grape must were imported in ECOWAS; growing by 29% against the previous year. Over the period under review, imports posted significant growth. The pace of growth appeared the most rapid in 2018 when imports increased by 1,009% against the previous year. Over the period under review, imports reached the peak figure at X litres in 2019; however, from 2020 to 2021, imports failed to regain momentum.

In value terms, grape must imports surged to $X in 2021. Overall, imports enjoyed significant growth. The most prominent rate of growth was recorded in 2018 with an increase of 1,887% against the previous year. Over the period under review, imports reached the peak figure at $X in 2019; however, from 2020 to 2021, imports remained at a lower figure.

Imports by Country

Nigeria dominates imports structure, accounting for X litres, which was near 85% of total imports in 2021. It was distantly followed by Cabo Verde (X litres) and Togo (X litres), together achieving a 14% share of total imports.

Nigeria was also the fastest-growing in terms of the grape must imports, with a CAGR of +57.4% from 2012 to 2021. At the same time, Togo (+8.3%) displayed positive paces of growth. By contrast, Cabo Verde (-2.1%) illustrated a downward trend over the same period. While the share of Nigeria (+77 p.p.) increased significantly in terms of the total imports from 2012-2021, the share of Togo (-7.5 p.p.) and Cabo Verde (-49.9 p.p.) displayed negative dynamics.

In value terms, Nigeria ($X) constitutes the largest market for imported grape must in ECOWAS, comprising 93% of total imports. The second position in the ranking was taken by Togo ($X), with a 2.8% share of total imports.

From 2012 to 2021, the average annual rate of growth in terms of value in Nigeria stood at +57.4%. In the other countries, the average annual rates were as follows: Togo (+0.8% per year) and Cabo Verde (-13.8% per year).

Import Prices by Country

The import price in ECOWAS stood at $X per litre in 2021, leveling off at the previous year. Over the period under review, the import price showed strong growth. The most prominent rate of growth was recorded in 2018 when the import price increased by 79%. Over the period under review, import prices reached the peak figure in 2021 and is likely to continue growth in the immediate term.

Prices varied noticeably by country of destination: amid the top importers, the country with the highest price was Nigeria ($X per litre), while Cabo Verde ($X per litre) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Nigeria (-0.0%), while the other leaders experienced a decline in the import price figures.

Source: IndexBox Platform