ECOWAS: Malt Market 2024

Malt Market Size in ECOWAS

The ECOWAS malt market totaled $X in 2021, picking up by 4.5% against the previous year. Over the period under review, consumption, however, saw a mild descent. Over the period under review, the market hit record highs at $X in 2012; however, from 2013 to 2021, consumption remained at a lower figure.

Malt Production in ECOWAS

In value terms, malt production totaled $X in 2021 estimated in export price. Overall, production showed a perceptible shrinkage. The most prominent rate of growth was recorded in 2016 with an increase of 16% against the previous year. Over the period under review, production reached the maximum level at $X in 2012; however, from 2013 to 2021, production remained at a lower figure.

Malt Exports

Exports in ECOWAS

In 2021, the amount of malt (not roasted) exported in ECOWAS skyrocketed to X tons, with an increase of 212% against the year before. In general, exports showed a significant increase. The growth pace was the most rapid in 2014 with an increase of 9,774% against the previous year. As a result, the exports attained the peak of X tons. From 2015 to 2021, the growth of the exports remained at a lower figure.

In value terms, malt exports surged to $X in 2021. Overall, exports continue to indicate a significant expansion. The most prominent rate of growth was recorded in 2014 with an increase of 8,536% against the previous year. As a result, the exports attained the peak of $X. From 2015 to 2021, the growth of the exports remained at a lower figure.

Exports by Country

Togo (X tons) and Cote d'Ivoire (X tons) represented roughly 81% of total exports in 2021. It was distantly followed by Benin (X tons), committing a 17% share of total exports.

From 2012 to 2021, the biggest increases were recorded for Cote d'Ivoire (with a CAGR of +2.3%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, Togo ($X), Cote d'Ivoire ($X) and Benin ($X) constituted the countries with the highest levels of exports in 2021, with a combined 98% share of total exports.

Togo, with a CAGR of +32.6%, recorded the highest growth rate of the value of exports, among the main exporting countries over the period under review, while shipments for the other leaders experienced a decline in the exports figures.

Export Prices by Country

In 2021, the export price in ECOWAS amounted to $X per ton, increasing by 7.4% against the previous year. Overall, the export price, however, continues to indicate a abrupt descent. The most prominent rate of growth was recorded in 2015 when the export price increased by 62% against the previous year. As a result, the export price reached the peak level of $X per ton. From 2016 to 2021, the export prices remained at a somewhat lower figure.

Average prices varied somewhat amongst the major exporting countries. In 2021, amid the top suppliers, the country with the highest price was Togo ($X per ton), while Cote d'Ivoire ($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 (+30.1%), while the other leaders experienced a decline in the export price figures.

Malt Imports

Imports in ECOWAS

In 2021, supplies from abroad of malt (not roasted) increased by 15% to X tons, rising for the second year in a row after two years of decline. Total imports indicated a resilient expansion from 2012 to 2021: its volume increased at an average annual rate of +7.9% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, imports increased by +43.7% against 2019 indices. The most prominent rate of growth was recorded in 2014 when imports increased by 59% against the previous year. Over the period under review, imports reached the peak figure in 2021 and are expected to retain growth in years to come.

In value terms, malt imports surged to $X in 2021. Total imports indicated prominent growth from 2012 to 2021: its value increased at an average annual rate of +5.5% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, imports increased by +86.2% against 2016 indices. The pace of growth was the most pronounced in 2020 with an increase of 29%. The level of import peaked in 2021 and is likely to see gradual growth in years to come.

Imports by Country

Nigeria was the major importing country with an import of about X tons, which accounted for 33% of total imports. Ghana (X tons) ranks second in terms of the total imports with an 18% share, followed by Cote d'Ivoire (17%), Burkina Faso (11%), Benin (7%) and Togo (5.3%). Guinea (X tons) held a relatively small share of total imports.

From 2012 to 2021, the biggest increases were recorded for Guinea (with a CAGR of +10.6%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, Nigeria ($X) constitutes the largest market for imported malt (not roasted) in ECOWAS, comprising 59% of total imports. The second position in the ranking was taken by Cote d'Ivoire ($X), with a 10% share of total imports. It was followed by Ghana, with a 9.8% share.

In Nigeria, malt imports expanded at an average annual rate of +6.5% over the period from 2012-2021. The remaining importing countries recorded the following average annual rates of imports growth: Cote d'Ivoire (+2.5% per year) and Ghana (+4.5% per year).

Import Prices by Country

In 2021, the import price in ECOWAS amounted to $X per ton, rising by 1.6% against the previous year. In general, the import price, however, saw a pronounced descent. The pace of growth was the most pronounced in 2018 an increase of 23% against the previous year. Over the period under review, import prices hit record highs at $X per ton in 2012; however, from 2013 to 2021, import prices remained at a lower figure.

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

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Nigeria (-0.8%), while the other leaders experienced a decline in the import price figures.

Source: IndexBox Platform