ECOWAS: Market for Non-Domestic Percolators and Equipment For Cooking Or Heating Food 2024

Market Size for Non-Domestic Percolators and Equipment For Cooking Or Heating Food in ECOWAS

For the fifth year in a row, the ECOWAS market for non-domestic percolators and equipment for cooking or heating food recorded growth in sales value, which increased by 0.3% to $X in 2022. Over the period under review, consumption, however, posted a buoyant expansion. Over the period under review, the market hit record highs in 2022 and is likely to continue growth in the immediate term.

Production of Non-Domestic Percolators and Equipment For Cooking Or Heating Food in ECOWAS

In value terms, production of non-domestic percolators and equipment for cooking or heating food stood at $X in 2022 estimated in export price. The total production indicated resilient growth from 2012 to 2022: its value increased at an average annual rate of +6.3% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, production decreased by -0.1% against 2020 indices. The most prominent rate of growth was recorded in 2015 when the production volume increased by 25%. Over the period under review, production of hit record highs at $X in 2020; however, from 2021 to 2022, production stood at a somewhat lower figure.

Exports of Non-Domestic Percolators and Equipment For Cooking Or Heating Food

Exports in ECOWAS

For the third consecutive year, ECOWAS recorded growth in shipments abroad of non-domestic percolators and equipment for cooking or heating food, which increased by 29% to X units in 2022. Over the period under review, exports, however, showed a noticeable reduction. The most prominent rate of growth was recorded in 2018 when exports increased by 576%. As a result, the exports reached the peak of X units. From 2019 to 2022, the growth of the exports of remained at a somewhat lower figure.

In value terms, exports of non-domestic percolators and equipment for cooking or heating food fell dramatically to $X in 2022. In general, exports saw prominent growth. The most prominent rate of growth was recorded in 2021 when exports increased by 217% against the previous year. As a result, the exports reached the peak of $X, and then dropped sharply in the following year.

Exports by Country

Niger was the major exporter of non-domestic percolators and equipment for cooking or heating food in ECOWAS, with the volume of exports recording X units, which was approx. 69% of total exports in 2022. Togo (X units) ranks second in terms of the total exports with a 10% share, followed by Nigeria (8.6%), Ghana (6.9%) and Senegal (5.2%).

Niger was also the fastest-growing in terms of the non-domestic percolators and equipment for cooking or heating food exports, with a CAGR of +16.1% from 2012 to 2022. Togo experienced a relatively flat trend pattern. Senegal (-2.8%), Nigeria (-17.4%) and Ghana (-20.8%) illustrated a downward trend over the same period. From 2012 to 2022, the share of Niger and Togo increased by +59 and +10 percentage points, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, the largest non-domestic percolators and equipment for cooking or heating food supplying countries in ECOWAS were Niger ($X), Togo ($X) and Senegal ($X), together comprising 68% of total exports.

Togo, with a CAGR of +64.8%, saw the highest rates of growth with regard to the value of exports, in terms of the main exporting countries over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

The export price in ECOWAS stood at $X per unit in 2022, falling by -69.7% against the previous year. In general, the export price, however, enjoyed strong growth. The pace of growth was the most pronounced in 2019 when the export price increased by 369%. Over the period under review, the export prices hit record highs at $X per unit in 2021, and then reduced markedly in the following year.

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

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Niger (+19.7%), while the other leaders experienced mixed trends in the export price figures.

Imports of Non-Domestic Percolators and Equipment For Cooking Or Heating Food

Imports in ECOWAS

In 2022, supplies from abroad of non-domestic percolators and equipment for cooking or heating food decreased by -1.5% to X units for the first time since 2017, thus ending a four-year rising trend. Over the period under review, imports, however, posted significant growth. The most prominent rate of growth was recorded in 2020 with an increase of 325% against the previous year. The volume of import peaked at X units in 2021, and then declined in the following year.

In value terms, imports of non-domestic percolators and equipment for cooking or heating food surged to $X in 2022. In general, imports, however, saw significant growth. The pace of growth was the most pronounced in 2020 when imports increased by 234%. The level of import peaked in 2022 and is likely to continue growth in the near future.

Imports by Country

Nigeria dominates food structure, reaching X units, which was near 79% of total imports in 2022. Ghana (X units) held the second position in the ranking, followed by Liberia (X units) and Benin (X units). All these countries together took approx. 16% share of total imports. Cote d'Ivoire (X units) followed a long way behind the leaders.

From 2012 to 2022, average annual rates of growth with regard to non-domestic percolators and equipment for cooking or heating food imports into Nigeria stood at +41.0%. At the same time, Benin (+63.7%), Liberia (+51.0%), Cote d'Ivoire (+14.5%) and Ghana (+9.0%) displayed positive paces of growth. Moreover, Benin emerged as the fastest-growing importer imported in ECOWAS, with a CAGR of +63.7% from 2012-2022. From 2012 to 2022, the share of Nigeria, Benin and Liberia increased by +42, +4.1 and +3.9 percentage points, respectively.

In value terms, Nigeria ($X) constitutes the largest market for imported non-domestic percolators and equipment for cooking or heating food in ECOWAS, comprising 92% of total imports. The second position in the ranking was taken by Cote d'Ivoire ($X), with a 3.4% share of total imports. It was followed by Ghana, with a 2.7% share.

In Nigeria, imports of non-domestic percolators and equipment for cooking or heating food increased at an average annual rate of +42.3% over the period from 2012-2022. The remaining importing countries recorded the following average annual rates of imports growth: Cote d'Ivoire (+14.9% per year) and Ghana (+7.8% per year).

Import Prices by Country

The import price in ECOWAS stood at $X per unit in 2022, growing by 44% against the previous year. Import price indicated temperate growth from 2012 to 2022: its price increased at an average annual rate of +2.1% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. The level of import peaked at $X per unit in 2017; however, from 2018 to 2022, import prices remained at a lower figure.

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

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Nigeria (+0.9%), while the other leaders experienced mixed trends in the import price figures.

Source: IndexBox Platform