ECOWAS: Plastic Bag Market 2024

Plastic Bag Market Size in ECOWAS

The ECOWAS plastic bag market expanded notably to $X in 2022, with an increase of 5.2% against the previous year. The market value increased at an average annual rate of +3.6% over the period from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. As a result, consumption attained the peak level of $X. From 2021 to 2022, the growth of the market remained at a somewhat lower figure.

Plastic Bag Production in ECOWAS

In value terms, plastic bag production rose significantly to $X in 2022 estimated in export price. The total output value increased at an average annual rate of +3.4% over the period from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The most prominent rate of growth was recorded in 2020 when the production volume increased by 28% against the previous year. As a result, production attained the peak level of $X. From 2021 to 2022, production growth failed to regain momentum.

Plastic Bag Exports

Exports in ECOWAS

In 2022, shipments abroad of plastic sacks and bags increased by 46% to X tons for the first time since 2016, thus ending a five-year declining trend. Overall, exports, however, showed a relatively flat trend pattern. Over the period under review, the exports attained the maximum at X tons in 2016; however, from 2017 to 2022, the exports failed to regain momentum.

In value terms, plastic bag exports surged to $X in 2022. Over the period under review, exports, however, continue to indicate a mild slump. The level of export peaked at $X in 2016; however, from 2017 to 2022, the exports remained at a lower figure.

Exports by Country

Togo dominates exports structure, accounting for X tons, which was near 84% of total exports in 2022. It was distantly followed by Cote d'Ivoire (X tons), creating a 9.2% share of total exports. The following exporters - Ghana (X tons) and Senegal (X tons) - each amounted to a 3.4% share of total exports.

Togo was also the fastest-growing in terms of the plastic sacks and bags exports, with a CAGR of +7.1% from 2012 to 2022. At the same time, Senegal (+5.7%) displayed positive paces of growth. By contrast, Ghana (-13.4%) and Cote d'Ivoire (-15.2%) illustrated a downward trend over the same period. While the share of Togo (+45 p.p.) increased significantly in terms of the total exports from 2012-2022, the share of Ghana (-5 p.p.) and Cote d'Ivoire (-34.7 p.p.) displayed negative dynamics. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Togo ($X) remains the largest plastic bag supplier in ECOWAS, comprising 82% of total exports. The second position in the ranking was taken by Cote d'Ivoire ($X), with a 10% share of total exports. It was followed by Senegal, with a 2.9% share.

From 2012 to 2022, the average annual growth rate of value in Togo amounted to +6.8%. In the other countries, the average annual rates were as follows: Cote d'Ivoire (-14.9% per year) and Senegal (+3.6% per year).

Export Prices by Country

In 2022, the export price in ECOWAS amounted to $X per ton, waning by -9.1% against the previous year. Over the period under review, the export price showed a relatively flat trend pattern. The pace of growth appeared the most rapid in 2013 when the export price increased by 32% against the previous year. As a result, the export price reached the peak level of $X per ton. From 2014 to 2022, the export prices remained at a somewhat lower figure.

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

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Cote d'Ivoire (+0.4%), while the other leaders experienced a decline in the export price figures.

Plastic Bag Imports

Imports in ECOWAS

In 2022, purchases abroad of plastic sacks and bags decreased by -5.7% to X tons, falling for the second year in a row after two years of growth. Total imports indicated strong growth from 2012 to 2022: its volume increased at an average annual rate of +5.8% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports decreased by -9.0% against 2020 indices. The pace of growth was the most pronounced in 2013 with an increase of 57%. The volume of import peaked at X tons in 2016; however, from 2017 to 2022, imports remained at a lower figure.

In value terms, plastic bag imports dropped to $X in 2022. Total imports indicated prominent 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, imports increased by +23.8% against 2019 indices. The most prominent rate of growth was recorded in 2013 when imports increased by 44%. The level of import peaked at $X in 2021, and then fell in the following year.

Imports by Country

The purchases of the five major importers of plastic sacks and bags, namely Mali, Ghana, Senegal, Burkina Faso and Nigeria, represented more than two-thirds of total import. It was distantly followed by Guinea (X tons), constituting a 5% share of total imports. Togo (X tons) took a little share of total imports.

From 2012 to 2022, the biggest increases were recorded for Senegal (with a CAGR of +10.5%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, the largest plastic bag importing markets in ECOWAS were Senegal ($X), Ghana ($X) and Mali ($X), together comprising 66% of total imports. Nigeria, Guinea, Burkina Faso and Togo lagged somewhat behind, together accounting for a further 19%.

Nigeria, with a CAGR of +16.9%, recorded the highest rates of growth with regard to the value of imports, in terms of 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 2022, the import price in ECOWAS amounted to $X per ton, shrinking by -2.9% against the previous year. In general, the import price, however, recorded a relatively flat trend pattern. The most prominent rate of growth was recorded in 2021 an increase of 16%. As a result, import price reached the peak level of $X per ton, and then reduced slightly in the following year.

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 Senegal ($X per ton), while Burkina Faso ($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 (+6.1%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform