ECOWAS: Market for Prepared Or Preserved Crab Meat 2024

Market Size for Prepared Or Preserved Crab Meat in ECOWAS

The ECOWAS market for prepared or preserved crab meat expanded sharply to $X in 2021, picking up by 11% against the previous year. Overall, consumption, however, enjoyed a prominent expansion. Over the period under review, the market attained the maximum level at $X in 2019; however, from 2020 to 2021, consumption stood at a somewhat lower figure.

Production of Prepared Or Preserved Crab Meat in ECOWAS

In value terms, prepared or preserved crab meat production surged to $X in 2021 estimated in export price. Over the period under review, production, however, posted a prominent expansion. The most prominent rate of growth was recorded in 2017 with an increase of 33% against the previous year. Over the period under review, production hit record highs at $X in 2019; however, from 2020 to 2021, production stood at a somewhat lower figure.

Exports of Prepared Or Preserved Crab Meat

Exports in ECOWAS

In 2021, the amount of prepared or preserved crab meat exported in ECOWAS soared to X tons, jumping by 2,502% on 2020. In general, exports showed a significant increase. As a result, the exports attained the peak and are likely to continue growth in the immediate term.

In value terms, prepared or preserved crab meat exports soared to $X in 2021. Over the period under review, exports showed a significant expansion. As a result, the exports reached the peak and are likely to continue growth in the immediate term.

Exports by Country

Gambia prevails in exports structure, reaching X tons, which was near 91% of total exports in 2021. It was distantly followed by Nigeria (X kg), constituting a 6.8% share of total exports. Guinea (X kg) held a minor share of total exports.

Gambia experienced a relatively flat trend pattern with regard to volume of exports of prepared or preserved crab meat. At the same time, Nigeria (+33.6%) displayed positive paces of growth. Moreover, Nigeria emerged as the fastest-growing exporter exported in ECOWAS, with a CAGR of +33.6% from 2012-2021. Guinea experienced a relatively flat trend pattern. Gambia (+91 p.p.) and Guinea (+1.6 p.p.) significantly strengthened its position in terms of the total exports, while Nigeria saw its share reduced by -13.6% from 2012 to 2021, respectively.

In value terms, Gambia ($X) emerged as the largest prepared or preserved crab meat supplier in ECOWAS, comprising 87% of total exports. The second position in the ranking was taken by Nigeria ($X), with an 8.2% share of total exports.

From 2012 to 2021, the average annual growth rate of value in Gambia amounted to +513.4%. In the other countries, the average annual rates were as follows: Nigeria (+34.3% per year) and Guinea (0.0% per year).

Export Prices by Country

The export price in ECOWAS stood at $X per ton in 2021, which is down by -15.7% against the previous year. Over the period under review, the export price, however, continues to indicate prominent growth. The most prominent rate of growth was recorded in 2015 when the export price increased by 313%. As a result, the export price attained the peak level of $X per ton. From 2016 to 2021, the export prices failed to regain momentum.

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

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Nigeria (+0.5%).

Imports of Prepared Or Preserved Crab Meat

Imports in ECOWAS

In 2021, purchases abroad of prepared or preserved crab meat decreased by -7.5% to X tons, falling for the second consecutive year after three years of growth. Overall, imports continue to indicate a slight descent. The most prominent rate of growth was recorded in 2017 with an increase of 45%. Over the period under review, imports attained the maximum at X tons in 2019; however, from 2020 to 2021, imports failed to regain momentum.

In value terms, prepared or preserved crab meat imports reduced to $X in 2021. Over the period under review, imports showed a deep setback. The growth pace was the most rapid in 2017 with an increase of 116%. Over the period under review, imports attained the maximum at $X in 2019; however, from 2020 to 2021, imports remained at a lower figure.

Imports by Country

Benin (X tons) and Cote d'Ivoire (X tons) prevails in imports structure, together committing 71% of total imports. Ghana (X kg) held the next position in the ranking, followed by Gambia (X kg) and Burkina Faso (X kg). All these countries together held approx. 22% share of total imports. Senegal (X kg) held a little share of total imports.

From 2012 to 2021, the biggest increases were recorded for Benin (with a CAGR of +35.2%), while purchases for the other leaders experienced mixed trends in the imports figures.

In value terms, the largest prepared or preserved crab meat importing markets in ECOWAS were Cote d'Ivoire ($X), Benin ($X) and Gambia ($X), together accounting for 79% of total imports.

In terms of the main importing countries, Benin, with a CAGR of +29.3%, saw the highest rates of growth with regard to 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 2021, the import price in ECOWAS amounted to $X per ton, stabilizing at the previous year. In general, the import price, however, continues to indicate a abrupt curtailment. The most prominent rate of growth was recorded in 2017 an increase of 49%. The level of import peaked at $X per ton in 2013; however, from 2014 to 2021, 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 Gambia ($X per ton), while Burkina Faso ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Ghana (+7.6%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform