ECOWAS: Mannequin Market 2024

Mannequin Market Size in ECOWAS

The ECOWAS mannequin market reduced modestly to $X in 2022, standing approx. at the previous year. Overall, consumption recorded a relatively flat trend pattern. Over the period under review, the market hit record highs at $X in 2017; however, from 2018 to 2022, consumption failed to regain momentum.

Mannequin Production in ECOWAS

In value terms, mannequin production declined modestly to $X in 2022 estimated in export price. Overall, production showed a abrupt contraction. The most prominent rate of growth was recorded in 2017 when the production volume increased by 44% against the previous year. The level of production peaked at $X in 2014; however, from 2015 to 2022, production stood at a somewhat lower figure.

Mannequin Exports

Exports in ECOWAS

In 2022, shipments abroad of mannequins was finally on the rise to reach X tons after two years of decline. Overall, exports, however, recorded a relatively flat trend pattern. The most prominent rate of growth was recorded in 2019 when exports increased by 203% against the previous year. The volume of export peaked at X tons in 2013; however, from 2014 to 2022, the exports remained at a lower figure.

In value terms, mannequin exports fell to $X in 2022. In general, exports, however, saw a relatively flat trend pattern. The most prominent rate of growth was recorded in 2019 with an increase of 92%. Over the period under review, the exports attained the maximum at $X in 2013; however, from 2014 to 2022, the exports stood at a somewhat lower figure.

Exports by Country

In 2022, Cote d'Ivoire (X tons) was the main exporter of mannequins, achieving 70% of total exports. Burkina Faso (X kg) held a 12% share (based on physical terms) of total exports, which put it in second place, followed by Niger (5.1%). The following exporters - Ghana (X kg), Togo (X kg), Nigeria (X kg) and Senegal (X kg) - together made up 11% of total exports.

Cote d'Ivoire was also the fastest-growing in terms of the mannequins exports, with a CAGR of +24.9% from 2012 to 2022. At the same time, Niger (+14.8%) and Ghana (+6.2%) displayed positive paces of growth. By contrast, Burkina Faso (-7.6%), Togo (-12.8%), Senegal (-20.9%) and Nigeria (-22.0%) illustrated a downward trend over the same period. While the share of Cote d'Ivoire (+63 p.p.), Niger (+3.9 p.p.) and Ghana (+1.7 p.p.) increased significantly in terms of the total exports from 2012-2022, the share of Togo (-7.8 p.p.), Burkina Faso (-13.3 p.p.), Senegal (-18.9 p.p.) and Nigeria (-24.3 p.p.) displayed negative dynamics.

In value terms, Cote d'Ivoire ($X) remains the largest mannequin supplier in ECOWAS, comprising 54% of total exports. The second position in the ranking was taken by Burkina Faso ($X), with a 19% share of total exports. It was followed by Ghana, with an 8.9% share.

In Cote d'Ivoire, mannequin exports expanded at an average annual rate of +32.2% over the period from 2012-2022. The remaining exporting countries recorded the following average annual rates of exports growth: Burkina Faso (-7.7% per year) and Ghana (+17.7% per year).

Export Prices by Country

The export price in ECOWAS stood at $X per ton in 2022, with a decrease of -14.3% against the previous year. In general, the export price, however, continues to indicate a relatively flat trend pattern. The pace of growth appeared the most rapid in 2021 an increase of 41%. The level of export peaked at $X per ton in 2014; however, from 2015 to 2022, the export prices stood at a somewhat lower figure.

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

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Nigeria (+11.9%), while the other leaders experienced more modest paces of growth.

Mannequin Imports

Imports in ECOWAS

In 2022, approx. X tons of mannequins were imported in ECOWAS; with an increase of 22% compared with the previous year's figure. Over the period under review, imports continue to indicate a temperate increase. The pace of growth was the most pronounced in 2020 when imports increased by 208% against the previous year. As a result, imports reached the peak of X tons. From 2021 to 2022, the growth of imports failed to regain momentum.

In value terms, mannequin imports totaled $X in 2022. In general, imports showed a prominent increase. The most prominent rate of growth was recorded in 2020 with an increase of 226%. As a result, imports reached the peak of $X. From 2021 to 2022, the growth of imports failed to regain momentum.

Imports by Country

Ghana represented the key importer of mannequins in ECOWAS, with the volume of imports amounting to X tons, which was near 45% of total imports in 2022. Nigeria (X tons) held the second position in the ranking, distantly followed by Senegal (X tons) and Cote d'Ivoire (X tons). All these countries together held near 44% share of total imports. Benin (X tons) and Burkina Faso (X tons) followed a long way behind the leaders.

From 2012 to 2022, average annual rates of growth with regard to mannequin imports into Ghana stood at +13.5%. At the same time, Nigeria (+19.0%) and Cote d'Ivoire (+13.4%) displayed positive paces of growth. Moreover, Nigeria emerged as the fastest-growing importer imported in ECOWAS, with a CAGR of +19.0% from 2012-2022. By contrast, Benin (-1.9%), Senegal (-8.5%) and Burkina Faso (-17.2%) illustrated a downward trend over the same period. Ghana (+26 p.p.), Nigeria (+17 p.p.) and Cote d'Ivoire (+5.6 p.p.) significantly strengthened its position in terms of the total imports, while Benin, Burkina Faso and Senegal saw its share reduced by -3.4%, -14.1% and -31.9% from 2012 to 2022, respectively.

In value terms, Ghana ($X) constitutes the largest market for imported mannequins in ECOWAS, comprising 59% of total imports. The second position in the ranking was held by Cote d'Ivoire ($X), with a 15% share of total imports. It was followed by Nigeria, with a 6.7% share.

From 2012 to 2022, the average annual growth rate of value in Ghana stood at +24.3%. In the other countries, the average annual rates were as follows: Cote d'Ivoire (+17.6% per year) and Nigeria (+10.9% per year).

Import Prices by Country

The import price in ECOWAS stood at $X per ton in 2022, falling by -15.4% against the previous year. In general, the import price, however, continues to indicate buoyant growth. The pace of growth was the most pronounced in 2014 an increase of 47% against the previous year. Over the period under review, import prices attained the peak figure at $X per ton in 2016; however, from 2017 to 2022, import prices failed to regain momentum.

There were significant differences in the average prices amongst the major importing countries. In 2022, amid the top importers, the country with the highest price was Burkina Faso ($X per ton), while Senegal ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Burkina Faso (+14.5%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform