ECOWAS: Fruit-Preparation Industrial Machinery Market 2024

Fruit-Preparation Industrial Machinery Market Size in ECOWAS

In 2021, the ECOWAS fruit-preparation industrial machinery market decreased by -5.1% to $X, falling for the second year in a row after two years of growth. Overall, consumption, however, saw perceptible growth. As a result, consumption attained the peak level of $X. From 2020 to 2021, the growth of the market remained at a somewhat lower figure.

Fruit-Preparation Industrial Machinery Production in ECOWAS

In value terms, fruit-preparation industrial machinery production totaled $X in 2021 estimated in export price. Overall, production, however, showed a strong expansion. The most prominent rate of growth was recorded in 2018 when the production volume increased by 31% against the previous year. As a result, production attained the peak level of $X. From 2019 to 2021, production growth remained at a lower figure.

Fruit-Preparation Industrial Machinery Exports

Exports in ECOWAS

In 2021, exports of industrial machinery for the preparation of fruits, nuts or vegetables in ECOWAS dropped rapidly to X units, which is down by -97.1% on the year before. Overall, exports, however, saw a prominent expansion. The most prominent rate of growth was recorded in 2020 when exports increased by 741%. As a result, the exports reached the peak of X units, and then reduced remarkably in the following year.

In value terms, fruit-preparation industrial machinery exports reduced remarkably to $X in 2021. In general, exports continue to indicate a abrupt contraction. The pace of growth was the most pronounced in 2017 when exports increased by 2,697%. As a result, the exports attained the peak of $X. From 2018 to 2021, the growth of the exports failed to regain momentum.

Exports by Country

Ghana represented the main exporting country with an export of around X units, which resulted at 80% of total exports. It was distantly followed by Nigeria (X units), committing a 20% share of total exports.

Ghana was also the fastest-growing in terms of the industrial machinery for the preparation of fruits, nuts or vegetables exports, with a CAGR of +16.7% from 2012 to 2021. Nigeria (-4.4%) illustrated a downward trend over the same period. Ghana (+40 p.p.) significantly strengthened its position in terms of the total exports, while Nigeria saw its share reduced by -40% from 2012 to 2021, respectively.

In value terms, Ghana ($X) remains the largest fruit-preparation industrial machinery supplier in ECOWAS, comprising 86% of total exports. The second position in the ranking was taken by Nigeria ($X), with a 0.1% share of total exports.

In Ghana, fruit-preparation industrial machinery exports expanded at an average annual rate of +22.9% over the period from 2012-2021.

Export Prices by Country

The export price in ECOWAS stood at $X per unit in 2021, growing by 583% against the previous year. In general, the export price, however, faced a drastic downturn. The most prominent rate of growth was recorded in 2017 an increase of 1,483% against the previous year. Over the period under review, the export prices reached the maximum at $X per unit in 2012; however, from 2013 to 2021, the export prices remained at a lower figure.

There were significant differences in the average prices amongst the major exporting countries. In 2021, amid the top suppliers, the country with the highest price was Ghana ($X per unit), while Nigeria amounted to $X per unit.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Ghana (+5.4%).

Fruit-Preparation Industrial Machinery Imports

Imports in ECOWAS

Fruit-preparation industrial machinery imports declined notably to X units in 2021, with a decrease of -26% on the previous year. In general, imports showed a deep slump. The pace of growth was the most pronounced in 2020 when imports increased by 101% against the previous year. Over the period under review, imports hit record highs at X units in 2012; however, from 2013 to 2021, imports stood at a somewhat lower figure.

In value terms, fruit-preparation industrial machinery imports reduced dramatically to $X in 2021. Over the period under review, imports, however, recorded a buoyant expansion. The pace of growth was the most pronounced in 2020 with an increase of 136%. As a result, imports reached the peak of $X, and then contracted remarkably in the following year.

Imports by Country

The countries with the highest levels of fruit-preparation industrial machinery imports in 2021 were Nigeria (X units), Cote d'Ivoire (X units), Ghana (X units) and Niger (X units), together resulting at 70% of total import. Burkina Faso (X units) held a 7.5% share (based on physical terms) of total imports, which put it in second place, followed by Senegal (7.3%), Guinea (5.9%) and Togo (5.1%).

From 2012 to 2021, the biggest increases were recorded for Niger (with a CAGR of +62.0%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, Nigeria ($X) constitutes the largest market for imported industrial machinery for the preparation of fruits, nuts or vegetables in ECOWAS, comprising 48% of total imports. The second position in the ranking was held by Cote d'Ivoire ($X), with an 18% share of total imports. It was followed by Ghana, with a 16% share.

From 2012 to 2021, the average annual growth rate of value in Nigeria totaled +10.9%. In the other countries, the average annual rates were as follows: Cote d'Ivoire (+18.4% per year) and Ghana (+1.0% per year).

Import Prices by Country

The import price in ECOWAS stood at $X per unit in 2021, increasing by 11% against the previous year. In general, the import price enjoyed a significant expansion. The most prominent rate of growth was recorded in 2014 when the import price increased by 305%. Over the period under review, import prices attained the maximum in 2021 and is expected to retain growth in the immediate term.

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

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Togo (+23.6%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform