ECOWAS: Spirits And Liqueurs Market 2024

Spirits And Liqueurs Market Size in ECOWAS

After four years of growth, the ECOWAS spirits and liqueurs market decreased by X% to $X in 2022. The market value increased at an average annual rate of X% over the period from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The level of consumption peaked at $X in 2014; however, from 2015 to 2022, consumption remained at a lower figure.

Spirits And Liqueurs Production in ECOWAS

In value terms, spirits and liqueurs production rose slightly to $X in 2022 estimated in export price. The total output value increased at an average annual rate of X% from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The most prominent rate of growth was recorded in 2013 with an increase of X%. Over the period under review, production hit record highs at $X in 2015; however, from 2016 to 2022, production remained at a lower figure.

Spirits And Liqueurs Exports

Exports in ECOWAS

Spirits and liqueurs exports fell rapidly to X litres in 2022, which is down by X% on the year before. In general, exports recorded a mild descent. The pace of growth was the most pronounced in 2013 when exports increased by X%. Over the period under review, the exports reached the peak figure at X litres in 2018; however, from 2019 to 2022, the exports remained at a lower figure.

In value terms, spirits and liqueurs exports fell dramatically to $X in 2022. Overall, exports faced a abrupt shrinkage. The most prominent rate of growth was recorded in 2013 with an increase of X% against the previous year. As a result, the exports attained the peak of $X. From 2014 to 2022, the growth of the exports remained at a lower figure.

Exports by Country

Ghana (X litres) and Cote d'Ivoire (X litres) prevails in exports structure, together committing X% of total exports. It was distantly followed by Togo (X litres), creating a X% share of total exports. The following exporters - Burkina Faso (X litres), Cabo Verde (X litres) and Nigeria (X litres) - together made up X% of total exports.

From 2012 to 2022, the biggest increases were recorded for Nigeria (with a CAGR of X%), while shipments for the other leaders experienced mixed trends in the exports figures.

In value terms, Cote d'Ivoire ($X) remains the largest spirits and liqueurs supplier in ECOWAS, comprising X% of total exports. The second position in the ranking was held by Ghana ($X), with an X% share of total exports. It was followed by Burkina Faso, with a X% share.

From 2012 to 2022, the average annual rate of growth in terms of value in Cote d'Ivoire stood at X%. In the other countries, the average annual rates were as follows: Ghana (X% per year) and Burkina Faso (X% per year).

Export Prices by Country

In 2022, the export price in ECOWAS amounted to $X per litre, approximately mirroring the previous year. In general, the export price showed a deep setback. The pace of growth appeared the most rapid in 2020 when the export price increased by X%. The level of export peaked at $X per litre in 2012; however, from 2013 to 2022, the export prices stood at a somewhat lower figure.

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 Burkina Faso ($X per litre), while Togo ($X per litre) was amongst the lowest.

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

Spirits And Liqueurs Imports

Imports in ECOWAS

In 2022, overseas purchases of spirits, liqueurs and other spirituous beverages decreased by X% to X litres for the first time since 2016, thus ending a five-year rising trend. Over the period under review, imports, however, recorded strong growth. The growth pace was the most rapid in 2014 with an increase of X%. The volume of import peaked at X litres in 2021, and then declined in the following year.

In value terms, spirits and liqueurs imports reduced to $X in 2022. Total imports indicated a resilient increase from 2012 to 2022: its value increased at an average annual rate of X% 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 X% against 2015 indices. The most prominent rate of growth was recorded in 2014 when imports increased by X% against the previous year. Over the period under review, imports attained the maximum at $X in 2021, and then dropped in the following year.

Imports by Country

The countries with the highest levels of spirits and liqueurs imports in 2022 were Togo (X litres), Nigeria (X litres) and Ghana (X litres), together resulting at X% of total import. It was distantly followed by Mali (X litres), Cote d'Ivoire (X litres) and Burkina Faso (X litres), together mixing up a X% share of total imports. Guinea (X litres) held a minor share of total imports.

From 2012 to 2022, the most notable rate of growth in terms of purchases, amongst the leading importing countries, was attained by Mali (with a CAGR of X%), while imports for the other leaders experienced more modest paces of growth.

In value terms, Ghana ($X), Nigeria ($X) and Cote d'Ivoire ($X) constituted the countries with the highest levels of imports in 2022, with a combined X% share of total imports. Mali, Togo, Guinea and Burkina Faso lagged somewhat behind, together comprising a further X%.

Mali, with a CAGR of X%, recorded the highest growth rate of the value of imports, among the main importing countries 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 litre, rising by X% against the previous year. Over the period under review, the import price recorded a modest expansion. The most prominent rate of growth was recorded in 2013 when the import price increased by X%. The level of import peaked at $X per litre in 2014; however, from 2015 to 2022, import prices stood at a somewhat lower figure.

There were significant differences in the average prices amongst the major importing countries. In 2022, amid the top importers, the country with the highest price was Ghana ($X per litre), while Togo ($X per litre) was amongst the lowest.

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

Source: IndexBox Platform