ECOWAS: Potato Chips Market 2024

Potato Chips Market Size in ECOWAS

The ECOWAS potato chips market rose slightly to $X in 2022, surging by 4.4% against the previous year. The total consumption indicated a resilient expansion from 2012 to 2022: its value increased at an average annual rate of +5.7% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, consumption decreased by -4.1% against 2020 indices. The level of consumption peaked at $X in 2020; however, from 2021 to 2022, consumption stood at a somewhat lower figure.

Potato Chips Production in ECOWAS

In value terms, potato chips production rose to $X in 2022 estimated in export price. The total production indicated a buoyant increase from 2012 to 2022: its value increased at an average annual rate of +6.2% 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 -4.5% against 2020 indices. The pace of growth was the most pronounced in 2015 when the production volume increased by 24%. The level of production peaked at $X in 2020; however, from 2021 to 2022, production remained at a lower figure.

Potato Chips Exports

Exports in ECOWAS

Potato chips exports reduced to X tons in 2022, dropping by -11.2% on the previous year's figure. Over the period under review, exports, however, saw measured growth. The pace of growth appeared the most rapid in 2016 when exports increased by 128% against the previous year. The volume of export peaked at X tons in 2017; however, from 2018 to 2022, the exports failed to regain momentum.

In value terms, potato chips exports fell significantly to $X in 2022. Overall, exports, however, showed a modest increase. The most prominent rate of growth was recorded in 2016 when exports increased by 108% against the previous year. Over the period under review, the exports hit record highs at $X in 2021, and then reduced notably in the following year.

Exports by Country

In 2022, Senegal (X tons) represented the key exporter of potato chips, constituting 52% of total exports. Togo (X tons) took a 19% share (based on physical terms) of total exports, which put it in second place, followed by Cote d'Ivoire (12%), Nigeria (11%) and Ghana (6.3%).

Exports from Senegal increased at an average annual rate of +3.9% from 2012 to 2022. At the same time, Cote d'Ivoire (+70.9%), Togo (+17.1%), Nigeria (+10.1%) and Ghana (+5.7%) displayed positive paces of growth. Moreover, Cote d'Ivoire emerged as the fastest-growing exporter exported in ECOWAS, with a CAGR of +70.9% from 2012-2022. While the share of Togo (+13 p.p.), Cote d'Ivoire (+12 p.p.), Nigeria (+4.9 p.p.) and Senegal (+2.2 p.p.) increased significantly, the shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Senegal ($X) remains the largest potato chips supplier in ECOWAS, comprising 46% of total exports. The second position in the ranking was taken by Cote d'Ivoire ($X), with a 22% share of total exports. It was followed by Togo, with a 15% share.

From 2012 to 2022, the average annual growth rate of value in Senegal amounted to -2.7%. In the other countries, the average annual rates were as follows: Cote d'Ivoire (+82.2% per year) and Togo (+21.2% per year).

Export Prices by Country

In 2022, the export price in ECOWAS amounted to $X per ton, declining by -9.8% against the previous year. Overall, the export price showed a pronounced downturn. The pace of growth was the most pronounced in 2019 an increase of 27% against the previous year. As a result, the export price attained the peak level of $X per ton. From 2020 to 2022, 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 Cote d'Ivoire ($X per ton), while Ghana ($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 (+6.6%), while the other leaders experienced more modest paces of growth.

Potato Chips Imports

Imports in ECOWAS

After two years of growth, supplies from abroad of potato chips decreased by -15.9% to X tons in 2022. Over the period under review, imports, however, recorded a measured increase. The most prominent rate of growth was recorded in 2016 when imports increased by 47% against the previous year. Over the period under review, imports reached the maximum at X tons in 2021, and then fell dramatically in the following year.

In value terms, potato chips imports fell significantly to $X in 2022. Overall, imports, however, showed resilient growth. The most prominent rate of growth was recorded in 2016 with an increase of 40%. Over the period under review, imports hit record highs at $X in 2021, and then contracted significantly in the following year.

Imports by Country

The purchases of the seven major importers of potato chips, namely Senegal, Gambia, Sierra Leone, Ghana, Nigeria, Cabo Verde and Cote d'Ivoire, represented more than two-thirds of total import. It was distantly followed by Guinea (X tons), mixing up a 5.5% share of total imports.

From 2012 to 2022, the biggest increases were recorded for Senegal (with a CAGR of +19.3%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, the largest potato chips importing markets in ECOWAS were Ghana ($X), Cabo Verde ($X) and Senegal ($X), together comprising 45% of total imports.

In terms of the main importing countries, Ghana, with a CAGR of +17.8%, recorded the highest growth rate of the value of imports, 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, with a decrease of -2.9% against the previous year. Over the last decade, it increased at an average annual rate of +2.0%. The pace of growth appeared the most rapid in 2014 when the import price increased by 15%. The level of import peaked at $X per ton in 2021, and then declined in the following year.

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

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Ghana (+8.8%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform