ECOWAS: Tomato Ketchup Market 2024

Tomato Ketchup Market Size in ECOWAS

The ECOWAS tomato ketchup market was estimated at $X in 2022, surging by 5.1% against the previous year. In general, consumption, however, showed a relatively flat trend pattern. The level of consumption peaked at $X in 2013; however, from 2014 to 2022, consumption failed to regain momentum.

Tomato Ketchup Production in ECOWAS

In value terms, tomato ketchup production rose sharply to $X in 2022 estimated in export price. In general, production, however, showed a relatively flat trend pattern. The most prominent rate of growth was recorded in 2020 when the production volume increased by 25%. Over the period under review, production attained the peak level at $X in 2013; however, from 2014 to 2022, production stood at a somewhat lower figure.

Tomato Ketchup Exports

Exports in ECOWAS

After four years of decline, overseas shipments of tomato ketchup and tomato sauces increased by 52% to X tons in 2022. In general, exports enjoyed prominent growth. The most prominent rate of growth was recorded in 2015 when exports increased by 490% against the previous year. The volume of export peaked at X tons in 2017; however, from 2018 to 2022, the exports stood at a somewhat lower figure.

In value terms, tomato ketchup exports skyrocketed to $X in 2022. Over the period under review, exports continue to indicate a strong expansion. The most prominent rate of growth was recorded in 2015 when exports increased by 439% against the previous year. Over the period under review, the exports hit record highs at $X in 2018; however, from 2019 to 2022, the exports remained at a lower figure.

Exports by Country

Senegal was the largest exporting country with an export of around X tons, which recorded 70% of total exports. Liberia (X tons) ranks second in terms of the total exports with an 18% share, followed by Togo (6.6%). Ghana (X tons) and Nigeria (X tons) held a little share of total exports.

Exports from Senegal increased at an average annual rate of +21.6% from 2012 to 2022. At the same time, Liberia (+57.3%), Togo (+21.4%) and Ghana (+16.6%) displayed positive paces of growth. Moreover, Liberia emerged as the fastest-growing exporter exported in ECOWAS, with a CAGR of +57.3% from 2012-2022. By contrast, Nigeria (-5.7%) illustrated a downward trend over the same period. While the share of Liberia (+16 p.p.) and Senegal (+9.9 p.p.) increased significantly in terms of the total exports from 2012-2022, the share of Nigeria (-17 p.p.) displayed negative dynamics. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Senegal ($X), Togo ($X) and Liberia ($X) were the countries with the highest levels of exports in 2022, with a combined 91% share of total exports.

Liberia, with a CAGR of +61.9%, recorded the highest growth rate of the value of exports, in terms of 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

In 2022, the export price in ECOWAS amounted to $X per ton, rising by 28% against the previous year. In general, the export price, however, recorded a relatively flat trend pattern. The level of export peaked at $X per ton in 2018; however, from 2019 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 Togo ($X per ton), while Senegal ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Togo (+14.9%), while the other leaders experienced more modest paces of growth.

Tomato Ketchup Imports

Imports in ECOWAS

After two years of decline, supplies from abroad of tomato ketchup and tomato sauces increased by 14% to X tons in 2022. Overall, imports posted a resilient expansion. The pace of growth was the most pronounced in 2019 when imports increased by 87% against the previous year. As a result, imports attained the peak of X tons. From 2020 to 2022, the growth of imports remained at a somewhat lower figure.

In value terms, tomato ketchup imports rose notably to $X in 2022. Total imports indicated a buoyant expansion from 2012 to 2022: its value increased at an average annual rate of +6.1% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports decreased by -15.4% against 2019 indices. The most prominent rate of growth was recorded in 2019 when imports increased by 69%. Over the period under review, imports attained the peak figure at $X in 2014; however, from 2015 to 2022, imports failed to regain momentum.

Imports by Country

Ghana was the major importing country with an import of about X tons, which accounted for 36% of total imports. It was distantly followed by Sierra Leone (X tons), Guinea (X tons), Cote d'Ivoire (X tons), Gambia (X tons) and Liberia (X tons), together constituting a 53% share of total imports. The following importers - Cabo Verde (X tons) and Senegal (X tons) - each amounted to a 5.6% share of total imports.

Imports into Ghana increased at an average annual rate of +15.4% from 2012 to 2022. At the same time, Guinea (+39.5%), Cote d'Ivoire (+20.6%), Liberia (+19.8%), Gambia (+14.7%), Cabo Verde (+11.1%) and Sierra Leone (+7.1%) displayed positive paces of growth. Moreover, Guinea emerged as the fastest-growing importer imported in ECOWAS, with a CAGR of +39.5% from 2012-2022. By contrast, Senegal (-10.1%) illustrated a downward trend over the same period. While the share of Ghana (+17 p.p.), Guinea (+12 p.p.), Cote d'Ivoire (+8.9 p.p.), Liberia (+3.3 p.p.) and Gambia (+3 p.p.) increased significantly in terms of the total imports from 2012-2022, the share of Sierra Leone (-1.6 p.p.) and Senegal (-13.6 p.p.) displayed negative dynamics. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, the largest tomato ketchup importing markets in ECOWAS were Ghana ($X), Sierra Leone ($X) and Guinea ($X), together accounting for 60% of total imports.

In terms of the main importing countries, Guinea, with a CAGR of +42.0%, 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 2022, the import price in ECOWAS amounted to $X per ton, with a decrease of -4.8% against the previous year. Overall, the import price recorded a pronounced setback. The most prominent rate of growth was recorded in 2013 when the import price increased by 17%. As a result, import price attained the peak level of $X per ton. From 2014 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 Senegal ($X per ton), while Ghana ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Sierra Leone (+1.9%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform