ECOWAS: Prepared Baking Powder Market 2024

Prepared Baking Powder Market Size in ECOWAS

The ECOWAS prepared baking powder market rose notably to $X in 2022, with an increase of 5.9% against the previous year. Over the period under review, consumption recorded a buoyant expansion. Over the period under review, the market reached the peak level at $X in 2017; however, from 2018 to 2022, consumption remained at a lower figure.

Prepared Baking Powder Production in ECOWAS

In value terms, prepared baking powder production rose markedly to $X in 2022 estimated in export price. The total production indicated a buoyant expansion from 2012 to 2022: its value increased at an average annual rate of +8.8% 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 -10.1% against 2018 indices. The growth pace was the most rapid in 2018 with an increase of 45% against the previous year. As a result, production reached the peak level of $X. From 2019 to 2022, production growth remained at a somewhat lower figure.

Prepared Baking Powder Exports

Exports in ECOWAS

In 2022, shipments abroad of prepared baking powders decreased by -70.6% to X tons, falling for the second consecutive year after two years of growth. Overall, exports, however, showed a perceptible expansion. The most prominent rate of growth was recorded in 2013 when exports increased by 160%. Over the period under review, the exports hit record highs at X tons in 2020; however, from 2021 to 2022, the exports remained at a lower figure.

In value terms, prepared baking powder exports dropped notably to $X in 2022. In general, exports showed a pronounced descent. The growth pace was the most rapid in 2020 when exports increased by 176%. As a result, the exports attained the peak of $X. From 2021 to 2022, the growth of the exports remained at a lower figure.

Exports by Country

Togo was the largest exporting country with an export of around X tons, which finished at 51% of total exports. Niger (X tons) took the second position in the ranking, distantly followed by Cote d'Ivoire (X tons) and Nigeria (X tons). All these countries together took approx. 45% share of total exports. Senegal (X tons) followed a long way behind the leaders.

From 2012 to 2022, the most notable rate of growth in terms of shipments, amongst the leading exporting countries, was attained by Niger (with a CAGR of +63.7%), while the other leaders experienced more modest paces of growth.

In value terms, the largest prepared baking powder supplying countries in ECOWAS were Togo ($X), Niger ($X) and Cote d'Ivoire ($X), with a combined 85% share of total exports.

Niger, with a CAGR of +43.6%, recorded the highest rates of growth with regard to the value of exports, among 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 ton in 2022, falling by -39.3% against the previous year. Over the period under review, the export price continues to indicate a abrupt shrinkage. The growth pace was the most rapid in 2020 when the export price increased by 48%. As a result, the export price attained the peak level of $X per ton. From 2021 to 2022, the export prices failed to regain momentum.

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 Cote d'Ivoire ($X per ton), while Togo ($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 (+9.6%), while the other leaders experienced a decline in the export price figures.

Prepared Baking Powder Imports

Imports in ECOWAS

In 2022, approx. X tons of prepared baking powders were imported in ECOWAS; rising by 10% against the previous year's figure. Over the period under review, imports showed strong growth. The most prominent rate of growth was recorded in 2017 with an increase of 149% against the previous year. As a result, imports attained the peak of X tons. From 2018 to 2022, the growth of imports remained at a somewhat lower figure.

In value terms, prepared baking powder imports contracted to $X in 2022. Overall, imports showed a measured increase. The most prominent rate of growth was recorded in 2017 when imports increased by 116% against the previous year. As a result, imports attained the peak of $X. From 2018 to 2022, the growth of imports remained at a lower figure.

Imports by Country

Nigeria dominates imports structure, resulting at X tons, which was near 68% of total imports in 2022. It was distantly followed by Ghana (X tons), Togo (X tons) and Liberia (X tons), together achieving a 22% share of total imports. The following importers - Niger (X tons) and Cabo Verde (X tons) - each resulted at a 3.7% share of total imports.

From 2012 to 2022, average annual rates of growth with regard to prepared baking powder imports into Nigeria stood at +8.7%. At the same time, Niger (+9.7%), Ghana (+6.1%), Liberia (+5.7%) and Togo (+2.5%) displayed positive paces of growth. Moreover, Niger emerged as the fastest-growing importer imported in ECOWAS, with a CAGR of +9.7% from 2012-2022. By contrast, Cabo Verde (-1.6%) illustrated a downward trend over the same period. From 2012 to 2022, the share of Nigeria increased by +17 percentage points. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Nigeria ($X) constitutes the largest market for imported prepared baking powders in ECOWAS, comprising 66% of total imports. The second position in the ranking was held by Ghana ($X), with a 7.6% share of total imports. It was followed by Cabo Verde, with a 5.1% share.

In Nigeria, prepared baking powder imports increased at an average annual rate of +7.9% over the period from 2012-2022. In the other countries, the average annual rates were as follows: Ghana (+3.8% per year) and Cabo Verde (-2.7% per year).

Import Prices by Country

The import price in ECOWAS stood at $X per ton in 2022, falling by -15% against the previous year. In general, the import price recorded a mild decline. The most prominent rate of growth was recorded in 2014 an increase of 31%. Over the period under review, import prices reached the maximum at $X per ton in 2016; however, from 2017 to 2022, 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 Cabo Verde ($X per ton), while Togo ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Niger (+2.7%), while the other leaders experienced a decline in the import price figures.

Source: IndexBox Platform