ECOWAS: Paper Label Market 2024

Paper Label Market Size in ECOWAS

The ECOWAS paper label market rose to $X in 2021, picking up by 4.5% against the previous year. The market value increased at an average annual rate of +1.1% over the period from 2012 to 2021; however, the trend pattern remained consistent, with somewhat noticeable fluctuations throughout the analyzed period. As a result, consumption attained the peak level of $X. From 2020 to 2021, the growth of the market failed to regain momentum.

Paper Label Production in ECOWAS

In value terms, paper label production expanded to $X in 2021 estimated in export price. In general, production continues to indicate a relatively flat trend pattern. The growth pace was the most rapid in 2019 with an increase of 32% against the previous year. As a result, production reached the peak level of $X. From 2020 to 2021, production growth failed to regain momentum.

Paper Label Exports

Exports in ECOWAS

In 2021, after three years of growth, there was significant decline in overseas shipments of labels of paper or paperboard, when their volume decreased by -16.2% to X tons. Overall, exports, however, enjoyed prominent growth. The pace of growth was the most pronounced in 2018 with an increase of 93%. Over the period under review, the exports hit record highs at X tons in 2020, and then reduced markedly in the following year.

In value terms, paper label exports contracted to $X in 2021. In general, exports, however, saw a remarkable increase. The pace of growth was the most pronounced in 2018 when exports increased by 103%. The level of export peaked at $X in 2020, and then fell in the following year.

Exports by Country

In 2021, Ghana (X tons) represented the main exporter of labels of paper or paperboard, achieving 76% of total exports. It was distantly followed by Senegal (X tons), comprising a 13% share of total exports. The following exporters - Togo (X tons) and Cote d'Ivoire (X tons) - each amounted to an 8.8% share of total exports.

Ghana was also the fastest-growing in terms of the labels of paper or paperboard exports, with a CAGR of +55.7% from 2012 to 2021. At the same time, Togo (+7.8%) and Senegal (+4.2%) displayed positive paces of growth. By contrast, Cote d'Ivoire (-10.2%) illustrated a downward trend over the same period. Ghana (+71 p.p.) significantly strengthened its position in terms of the total exports, while Togo, Senegal and Cote d'Ivoire saw its share reduced by -3.6%, -18.9% and -36.6% from 2012 to 2021, respectively.

In value terms, Ghana ($X) remains the largest paper label supplier in ECOWAS, comprising 76% of total exports. The second position in the ranking was held by Senegal ($X), with a 10% share of total exports. It was followed by Togo, with a 7.5% share.

In Ghana, paper label exports expanded at an average annual rate of +53.5% over the period from 2012-2021. In the other countries, the average annual rates were as follows: Senegal (+3.0% per year) and Togo (+29.1% per year).

Export Prices by Country

The export price in ECOWAS stood at $X per ton in 2021, growing by 15% against the previous year. Over the period under review, the export price, however, saw a relatively flat trend pattern. Over the period under review, the export prices hit record highs 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 Togo ($X per ton), while Senegal ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Togo (+19.7%), while the other leaders experienced a decline in the export price figures.

Paper Label Imports

Imports in ECOWAS

In 2021, purchases abroad of labels of paper or paperboard increased by 38% to X tons, rising for the second year in a row after two years of decline. Over the period under review, imports posted tangible growth. The pace of growth appeared the most rapid in 2014 when imports increased by 54% against the previous year. As a result, imports attained the peak of X tons. From 2015 to 2021, the growth of imports failed to regain momentum.

In value terms, paper label imports skyrocketed to $X in 2021. Overall, imports continue to indicate a mild expansion. The pace of growth was the most pronounced in 2014 when imports increased by 120% against the previous year. As a result, imports attained the peak of $X. From 2015 to 2021, the growth of imports remained at a lower figure.

Imports by Country

The purchases of the four major importers of labels of paper or paperboard, namely Senegal, Nigeria, Togo and Ghana, represented more than two-thirds of total import. Cote d'Ivoire (X tons) held the next position in the ranking, followed by Burkina Faso (X tons). All these countries together took near 15% share of total imports. Benin (X tons) took a minor share of total imports.

From 2012 to 2021, the biggest increases were recorded for Senegal (with a CAGR of +31.4%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, the largest paper label importing markets in ECOWAS were Cote d'Ivoire ($X), Togo ($X) and Senegal ($X), together comprising 51% of total imports.

Senegal, with a CAGR of +22.1%, recorded the highest growth rate of the value of imports, among the main importing countries over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

In 2021, the import price in ECOWAS amounted to $X per ton, picking up by 1.9% against the previous year. Over the period under review, the import price, however, recorded a noticeable decline. The growth pace was the most rapid in 2014 when the import price increased by 43%. As a result, import price attained the peak level of $X per ton. From 2015 to 2021, the import prices remained at a somewhat lower figure.

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 Cote d'Ivoire ($X per ton), while Nigeria ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Togo (+2.0%), while the other leaders experienced mixed trends in the import price figures.

Source: IndexBox Platform