ECOWAS: Market for Salted, Dried or Smoked Meat, and Offal 2024

Market Size for Salted, Dried or Smoked Meat, and Offal in ECOWAS

The ECOWAS market for salted, dried or smoked meat, and offal expanded slightly to $X in 2022, growing by 2.3% against the previous year. Over the period under review, consumption, however, recorded a noticeable slump. The pace of growth appeared the most rapid in 2020 with an increase of 9.7%. The level of consumption peaked at $X in 2012; however, from 2013 to 2022, consumption stood at a somewhat lower figure.

Production of Salted, Dried or Smoked Meat, and Offal in ECOWAS

In value terms, production of salted, dried or smoked meat, and offal reached $X in 2022 estimated in export price. In general, production, however, recorded a perceptible reduction. The most prominent rate of growth was recorded in 2020 when the production volume increased by 11%. Over the period under review, production of hit record highs at $X in 2012; however, from 2013 to 2022, production stood at a somewhat lower figure.

Exports of Salted, Dried or Smoked Meat, and Offal

Exports in ECOWAS

In 2022, after three years of growth, there was significant decline in shipments abroad of salted, dried or smoked meat, and offal, when their volume decreased by -47.1% to X tons. Overall, exports, however, continue to indicate a prominent increase. The most prominent rate of growth was recorded in 2021 when exports increased by 439% against the previous year. As a result, the exports reached the peak of X tons, and then shrank notably in the following year.

In value terms, exports of salted, dried or smoked meat, and offal plummeted to $X in 2022. Over the period under review, exports, however, posted a measured expansion. The growth pace was the most rapid in 2021 when exports increased by 438%. As a result, the exports reached the peak of $X, and then shrank remarkably in the following year.

Exports by Country

Togo represented the main exporter of salted, dried or smoked meat, and offal in ECOWAS, with the volume of exports finishing at X tons, which was near 75% of total exports in 2022. It was distantly followed by Nigeria (X tons), mixing up a 19% share of total exports. Burkina Faso (X tons) took a minor share of total exports.

Togo was also the fastest-growing in terms of the salted, dried or smoked meat, and offal exports, with a CAGR of +54.8% from 2012 to 2022. At the same time, Burkina Faso (+29.5%) and Nigeria (+6.1%) displayed positive paces of growth. Togo (+71 p.p.) and Burkina Faso (+2.5 p.p.) significantly strengthened its position in terms of the total exports, while Nigeria saw its share reduced by -19.5% from 2012 to 2022, respectively.

In value terms, Togo ($X) remains the largest salted, dried or smoked meat, and offal supplier in ECOWAS, comprising 71% of total exports. The second position in the ranking was held by Nigeria ($X), with a 20% share of total exports.

In Togo, exports of salted, dried or smoked meat, and offal expanded at an average annual rate of +38.7% over the period from 2012-2022. In the other countries, the average annual rates were as follows: Nigeria (-0.9% per year) and Burkina Faso (+9.1% per year).

Export Prices by Country

The export price in ECOWAS stood at $X per ton in 2022, flattening at the previous year. Overall, the export price continues to indicate a abrupt curtailment. The growth pace was the most rapid in 2018 an increase of 42%. Over the period under review, the export prices reached the maximum at $X per ton in 2013; however, from 2014 to 2022, 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 Nigeria ($X per ton), while Burkina Faso ($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 (-6.6%), while the other leaders experienced a decline in the export price figures.

Imports of Salted, Dried or Smoked Meat, and Offal

Imports in ECOWAS

Imports of salted, dried or smoked meat, and offal rose rapidly to X tons in 2022, increasing by 6.8% compared with 2021 figures. Total imports indicated pronounced growth from 2012 to 2022: its volume increased at an average annual rate of +3.0% 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 +1.9% against 2019 indices. The pace of growth was the most pronounced in 2018 when imports increased by 46% against the previous year. The volume of import peaked in 2022 and is likely to continue growth in the immediate term.

In value terms, imports of salted, dried or smoked meat, and offal shrank to $X in 2022. Overall, imports posted notable growth. The pace of growth appeared the most rapid in 2018 when imports increased by 94% against the previous year. Over the period under review, imports of reached the maximum at $X in 2021, and then reduced in the following year.

Imports by Country

Ghana was the main importer of salted, dried or smoked meat, and offal in ECOWAS, with the volume of imports recording X tons, which was near 62% of total imports in 2022. Liberia (X tons) held the second position in the ranking, followed by Senegal (X tons). All these countries together held approx. 24% share of total imports. The following importers - Cabo Verde (X tons), Sierra Leone (X tons) and Nigeria (X tons) - each reached an 8.8% share of total imports.

Imports into Ghana increased at an average annual rate of +6.5% from 2012 to 2022. At the same time, Senegal (+39.3%), Cabo Verde (+8.0%) and Nigeria (+2.3%) displayed positive paces of growth. Moreover, Senegal emerged as the fastest-growing importer imported in ECOWAS, with a CAGR of +39.3% from 2012-2022. By contrast, Liberia (-6.3%) and Sierra Leone (-7.1%) illustrated a downward trend over the same period. Ghana (+18 p.p.) and Senegal (+8.6 p.p.) significantly strengthened its position in terms of the total imports, while Sierra Leone and Liberia saw its share reduced by -5.3% and -23.7% from 2012 to 2022, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Ghana ($X) constitutes the largest market for imported salted, dried or smoked meat, and offal in ECOWAS, comprising 40% of total imports. The second position in the ranking was taken by Liberia ($X), with a 17% share of total imports. It was followed by Cabo Verde, with a 9.8% share.

From 2012 to 2022, the average annual growth rate of value in Ghana amounted to +2.8%. The remaining importing countries recorded the following average annual rates of imports growth: Liberia (-2.1% per year) and Cabo Verde (+8.2% per year).

Import Prices by Country

In 2022, the import price in ECOWAS amounted to $X per ton, falling by -11.2% against the previous year. In general, the import price showed a relatively flat trend pattern. The growth pace was the most rapid in 2018 an increase of 33% against the previous year. As a result, import price attained the peak level of $X per ton. From 2019 to 2022, the import prices failed to regain momentum.

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

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Liberia (+4.4%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform