
ECOWAS - Refined Groundnut Oil - Market Analysis, Forecast, Size, Trends and Insights
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View PricingECOWAS: Refined Groundnut Oil Market 2025
Refined Groundnut Oil Market Size in ECOWAS
After two years of growth, the ECOWAS refined groundnut oil market decreased by -1.4% to $X in 2021. In general, consumption showed a prominent increase. The level of consumption peaked at $X in 2017; however, from 2018 to 2021, consumption failed to regain momentum.
Refined Groundnut Oil Production in ECOWAS
In value terms, refined groundnut oil production reduced to $X in 2021 estimated in export price. Over the period under review, production, however, showed a prominent increase. The growth pace was the most rapid in 2016 when the production volume increased by 75%. Over the period under review, production hit record highs at $X in 2017; however, from 2018 to 2021, production failed to regain momentum.
Refined Groundnut Oil Exports
Exports in ECOWAS
Refined groundnut oil exports declined dramatically to X tons in 2021, which is down by -43.4% against the previous year. Over the period under review, exports recorded a dramatic contraction. The most prominent rate of growth was recorded in 2014 when exports increased by 424%. As a result, the exports attained the peak of X tons. From 2015 to 2021, the growth of the exports remained at a lower figure.
In value terms, refined groundnut oil exports fell dramatically to $X in 2021. Overall, exports saw a sharp slump. The pace of growth was the most pronounced in 2020 when exports increased by 161%. Over the period under review, the exports reached the maximum at $X in 2012; however, from 2013 to 2021, the exports failed to regain momentum.
Exports by Country
Senegal prevails in exports structure, accounting for X tons, which was approx. 68% of total exports in 2021. Cote d'Ivoire (X tons) took a 9.4% share (based on physical terms) of total exports, which put it in second place, followed by Togo (9.3%) and Ghana (7.3%). Nigeria (X tons) and Burkina Faso (X tons) held a minor share of total exports.
From 2012 to 2021, average annual rates of growth with regard to refined groundnut oil exports from Senegal stood at -13.8%. At the same time, Burkina Faso (+9.0%) and Ghana (+5.6%) displayed positive paces of growth. Moreover, Burkina Faso emerged as the fastest-growing exporter exported in ECOWAS, with a CAGR of +9.0% from 2012-2021. By contrast, Cote d'Ivoire (-7.4%), Togo (-19.4%) and Nigeria (-24.8%) illustrated a downward trend over the same period. While the share of Senegal (+53 p.p.), Cote d'Ivoire (+8.3 p.p.), Ghana (+7.1 p.p.), Togo (+5.5 p.p.) and Burkina Faso (+2.2 p.p.) increased significantly, the shares of the other countries remained relatively stable throughout the analyzed period.
In value terms, Senegal ($X) remains the largest refined groundnut oil supplier in ECOWAS, comprising 86% of total exports. The second position in the ranking was held by Ghana ($X), with a 4% share of total exports. It was followed by Cote d'Ivoire, with a 3.1% share.
In Senegal, refined groundnut oil exports declined by an average annual rate of -14.6% over the period from 2012-2021. The remaining exporting countries recorded the following average annual rates of exports growth: Ghana (+9.2% per year) and Cote d'Ivoire (-15.6% per year).
Export Prices by Country
The export price in ECOWAS stood at $X per ton in 2021, which is down by -2.8% 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 2020 when the export price increased by 117%. The level of export peaked at $X per ton in 2012; however, from 2013 to 2021, the export prices failed to regain momentum.
There were significant differences in the average prices amongst the major exporting countries. In 2021, the country with the highest price was Senegal ($X per ton), while Togo ($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 (+6.6%), while the other leaders experienced mixed trends in the export price figures.
Refined Groundnut Oil Imports
Imports in ECOWAS
In 2021, the amount of refined groundnut oil imported in ECOWAS amounted to X tons, with an increase of 13% against the year before. Overall, imports saw a tangible increase. The growth pace was the most rapid in 2017 when imports increased by 196% against the previous year. As a result, imports reached the peak of X tons. From 2018 to 2021, the growth of imports remained at a lower figure.
In value terms, refined groundnut oil imports shrank to $X in 2021. Over the period under review, imports, however, continue to indicate a abrupt slump. The most prominent rate of growth was recorded in 2017 when imports increased by 180% against the previous year. Over the period under review, imports reached the maximum at $X in 2013; however, from 2014 to 2021, imports failed to regain momentum.
Imports by Country
Benin (X tons) represented roughly 98% of total imports in 2021.
Benin was also the fastest-growing in terms of the refined groundnut oil imports, with a CAGR of +6.1% from 2012 to 2021. While the share of Benin (+29 p.p.) increased significantly, the shares of the other countries remained relatively stable throughout the analyzed period.
In value terms, Benin ($X) constitutes the largest market for imported refined groundnut oil in ECOWAS.
In Benin, refined groundnut oil imports plunged by an average annual rate of -6.9% over the period from 2012-2021.
Import Prices by Country
The import price in ECOWAS stood at $X per ton in 2021, dropping by -13% against the previous year. Over the period under review, the import price continues to indicate a abrupt decline. The pace of growth was the most pronounced in 2013 when the import price increased by 27%. As a result, import price attained the peak level of $X per ton. From 2014 to 2021, the import prices failed to regain momentum.
As there is only one major supplying country, the average price level is determined by prices for Benin.
From 2012 to 2021, the rate of growth in terms of prices for Benin amounted to -12.3% per year.
Source: IndexBox Platform
This report provides an in-depth analysis of the refined groundnut oil market in ECOWAS. Within it, you will discover the latest data on market trends and opportunities by country, consumption, production and price developments, as well as the global trade (imports and exports). The forecast exhibits the market prospects through 2030.
Product coverage:
- Prodcom 10415200 - Refined groundnut oil and its fractions (excluding chemically modified)
Country coverage:
- Benin
- Burkina Faso
- Cabo Verde
- Gambia
- Ghana
- Guinea
- Guinea-Bissau
- Liberia
- Mali
- Niger
- Nigeria
- Senegal
- Sierra Leone
- Togo
- Cote d'Ivoire
Data coverage:
- Market volume and value
- Per Capita consumption
- Forecast of the market dynamics in the medium term
- Production in ECOWAS, split by region and country
- Trade (exports and imports) in ECOWAS
- Export and import prices
- Market trends, drivers and restraints
- Key market players and their profiles
Reasons to buy this report:
- Take advantage of the latest data
- Find deeper insights into current market developments
- Discover vital success factors affecting the market
This report is designed for manufacturers, distributors, importers, and wholesalers, as well as for investors, consultants and advisors.
In this report, you can find information that helps you to make informed decisions on the following issues:
- How to diversify your business and benefit from new market opportunities
- How to load your idle production capacity
- How to boost your sales on overseas markets
- How to increase your profit margins
- How to make your supply chain more sustainable
- How to reduce your production and supply chain costs
- How to outsource production to other countries
- How to prepare your business for global expansion
While doing this research, we combine the accumulated expertise of our analysts and the capabilities of artificial intelligence. The AI-based platform, developed by our data scientists, constitutes the key working tool for business analysts, empowering them to discover deep insights and ideas from the marketing data.
1. INTRODUCTION
Making Data-Driven Decisions to Grow Your Business
- REPORT DESCRIPTION
- RESEARCH METHODOLOGY AND THE AI PLATFORM
- DATA-DRIVEN DECISIONS FOR YOUR BUSINESS
- GLOSSARY AND SPECIFIC TERMS
2. EXECUTIVE SUMMARY
A Quick Overview of Market Performance
- KEY FINDINGS
- MARKET TRENDS This Chapter is Available Only for the Professional EditionPRO
3. MARKET OVERVIEW
Understanding the Current State of The Market and its Prospects
- MARKET SIZE: HISTORICAL DATA (2012–2024) AND FORECAST (2025–2035)
- CONSUMPTION BY COUNTRY: HISTORICAL DATA (2012–2024) AND FORECAST (2025–2035)
- MARKET FORECAST TO 2035
4. MOST PROMISING PRODUCTS FOR DIVERSIFICATION
Finding New Products to Diversify Your Business
- TOP PRODUCTS TO DIVERSIFY YOUR BUSINESS
- BEST-SELLING PRODUCTS
- MOST CONSUMED PRODUCTS
- MOST TRADED PRODUCTS
- MOST PROFITABLE PRODUCTS FOR EXPORT
5. MOST PROMISING SUPPLYING COUNTRIES
Choosing the Best Countries to Establish Your Sustainable Supply Chain
- TOP COUNTRIES TO SOURCE YOUR PRODUCT
- TOP PRODUCING COUNTRIES
- TOP EXPORTING COUNTRIES
- LOW-COST EXPORTING COUNTRIES
6. MOST PROMISING OVERSEAS MARKETS
Choosing the Best Countries to Boost Your Export
- TOP OVERSEAS MARKETS FOR EXPORTING YOUR PRODUCT
- TOP CONSUMING MARKETS
- UNSATURATED MARKETS
- TOP IMPORTING MARKETS
- MOST PROFITABLE MARKETS
7. PRODUCTION
The Latest Trends and Insights into The Industry
- PRODUCTION VOLUME AND VALUE: HISTORICAL DATA (2012–2024) AND FORECAST (2025–2035)
- PRODUCTION BY COUNTRY: HISTORICAL DATA (2012–2024) AND FORECAST (2025–2035)
8. IMPORTS
The Largest Import Supplying Countries
- IMPORTS: HISTORICAL DATA (2012–2024) AND FORECAST (2025–2035)
- IMPORTS BY COUNTRY: HISTORICAL DATA (2012–2024) AND FORECAST (2025–2035)
- IMPORT PRICES BY COUNTRY: HISTORICAL DATA (2012–2024) AND FORECAST (2025–2035)
9. EXPORTS
The Largest Destinations for Exports
- EXPORTS: HISTORICAL DATA (2012–2024) AND FORECAST (2025–2035)
- EXPORTS BY COUNTRY: HISTORICAL DATA (2012–2024) AND FORECAST (2025–2035)
- EXPORT PRICES BY COUNTRY: HISTORICAL DATA (2012–2024) AND FORECAST (2025–2035)
10. PROFILES OF MAJOR PRODUCERS
The Largest Producers on The Market and Their Profiles
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11. COUNTRY PROFILES
The Largest Markets And Their Profiles
This Chapter is Available Only for the Professional Edition PRO- Benin
- Burkina Faso
- Cabo Verde
- Gambia
- Ghana
- Guinea
- Guinea-Bissau
- Liberia
- Mali
- Niger
- Nigeria
- Senegal
- Sierra Leone
- Togo
- Cote d'Ivoire
LIST OF TABLES
- Key Findings In 2024
- Market Volume, In Physical Terms: Historical Data (2012–2024) and Forecast (2025–2035)
- Market Value: Historical Data (2012–2024) and Forecast (2025–2035)
- Per Capita Consumption, by Country, 2022–2024
- Production, In Physical Terms, By Country: Historical Data (2012–2024) and Forecast (2025–2035)
- Imports, In Physical Terms, By Country: Historical Data (2012–2024) and Forecast (2025–2035)
- Imports, In Value Terms, By Country: Historical Data (2012–2024) and Forecast (2025–2035)
- Import Prices, By Country: Historical Data (2012–2024) and Forecast (2025–2035)
- Exports, In Physical Terms, By Country: Historical Data (2012–2024) and Forecast (2025–2035)
- Exports, In Value Terms, By Country: Historical Data (2012–2024) and Forecast (2025–2035)
- Export Prices, By Country: Historical Data (2012–2024) and Forecast (2025–2035)
LIST OF FIGURES
- Market Volume, In Physical Terms: Historical Data (2012–2024) and Forecast (2025–2035)
- Market Value: Historical Data (2012–2024) and Forecast (2025–2035)
- Consumption, by Country, 2024
- Market Volume Forecast to 2035
- Market Value Forecast to 2035
- Market Size and Growth, By Product
- Average Per Capita Consumption, By Product
- Exports and Growth, By Product
- Export Prices and Growth, By Product
- Production Volume and Growth
- Exports and Growth
- Export Prices and Growth
- Market Size and Growth
- Per Capita Consumption
- Imports and Growth
- Import Prices
- Production, In Physical Terms: Historical Data (2012–2024) and Forecast (2025–2035)
- Production, In Value Terms: Historical Data (2012–2024) and Forecast (2025–2035)
- Production, by Country, 2024
- Production, In Physical Terms, by Country: Historical Data (2012–2024) and Forecast (2025–2035)
- Imports, In Physical Terms: Historical Data (2012–2024) and Forecast (2025–2035)
- Imports, In Value Terms: Historical Data (2012–2024) and Forecast (2025–2035)
- Imports, In Physical Terms, By Country, 2024
- Imports, In Physical Terms, By Country: Historical Data (2012–2024) and Forecast (2025–2035)
- Imports, In Value Terms, By Country: Historical Data (2012–2024) and Forecast (2025–2035)
- Import Prices, By Country: Historical Data (2012–2024) and Forecast (2025–2035)
- Exports, In Physical Terms: Historical Data (2012–2024) and Forecast (2025–2035)
- Exports, In Value Terms: Historical Data (2012–2024) and Forecast (2025–2035)
- Exports, In Physical Terms, By Country, 2024
- Exports, In Physical Terms, By Country: Historical Data (2012–2024) and Forecast (2025–2035)
- Exports, In Value Terms, By Country: Historical Data (2012–2024) and Forecast (2025–2035)
- Export Prices, By Country: Historical Data (2012–2024) and Forecast (2025–2035)
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