ECOWAS: Market for Orange Juice (Single Strength) 2024

Market Size for Orange Juice (Single Strength) in ECOWAS

For the third year in a row, the ECOWAS orange juice (single strength) market recorded growth in sales value, which increased by 51% to $X in 2021. Over the period under review, consumption recorded buoyant growth. As a result, consumption reached the peak level and is likely to continue growth in the immediate term.

Production of Orange Juice (Single Strength) in ECOWAS

In value terms, orange juice (single strength) production surged to $X in 2021 estimated in export price. In general, production, however, continues to indicate a deep slump. The level of production peaked at $X in 2012; however, from 2013 to 2021, production failed to regain momentum.

Exports of Orange Juice (Single Strength)

Exports in ECOWAS

Orange juice (single strength) exports fell remarkably to X tons in 2021, with a decrease of -47.3% against the previous year. Overall, exports showed a sharp slump. The most prominent rate of growth was recorded in 2016 when exports increased by 4.8% against the previous year. The volume of export peaked at X tons in 2012; however, from 2013 to 2021, the exports stood at a somewhat lower figure.

In value terms, orange juice (single strength) exports contracted notably to $X in 2021. Over the period under review, exports saw a sharp slump. The growth pace was the most rapid in 2016 when exports increased by 43% against the previous year. The level of export peaked at $X in 2012; however, from 2013 to 2021, the exports stood at a somewhat lower figure.

Exports by Country

Ghana represented the main exporter of orange juice (single strength) in ECOWAS, with the volume of exports accounting for X tons, which was near 77% of total exports in 2021. Togo (X tons) took the second position in the ranking, followed by Mali (X tons). All these countries together held near 19% share of total exports. Niger (X tons) followed a long way behind the leaders.

Exports from Ghana decreased at an average annual rate of -26.1% from 2012 to 2021. At the same time, Mali (+19.7%) displayed positive paces of growth. Moreover, Mali emerged as the fastest-growing exporter exported in ECOWAS, with a CAGR of +19.7% from 2012-2021. Niger and Togo experienced a relatively flat trend pattern. While the share of Togo (+11 p.p.), Mali (+7.5 p.p.) and Niger (+1.7 p.p.) increased significantly in terms of the total exports from 2012-2021, the share of Ghana (-9.8 p.p.) displayed negative dynamics.

In value terms, Ghana ($X) remains the largest orange juice (single strength) supplier in ECOWAS, comprising 91% of total exports. The second position in the ranking was taken by Togo ($X), with a 4.9% share of total exports. It was followed by Mali, with a 2.2% share.

In Ghana, orange juice (single strength) exports declined by an average annual rate of -23.9% over the period from 2012-2021. The remaining exporting countries recorded the following average annual rates of exports growth: Togo (-4.2% per year) and Mali (+1.9% per year).

Export Prices by Country

The export price in ECOWAS stood at $X per ton in 2021, declining by -15.3% against the previous year. Export price indicated slight growth from 2012 to 2021: its price increased at an average annual rate of +1.8% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, orange juice (single strength) export price decreased by -26.7% against 2017 indices. The growth pace was the most rapid in 2016 when the export price increased by 36% against the previous year. Over the period under review, the export prices reached the maximum at $X per ton in 2017; however, from 2018 to 2021, the export prices stood at a somewhat lower figure.

There were significant differences in the average prices amongst the major exporting countries. In 2021, the country with the highest price was Ghana ($X per ton), while Mali ($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 (+3.0%), while the other leaders experienced a decline in the export price figures.

Imports of Orange Juice (Single Strength)

Imports in ECOWAS

For the third consecutive year, ECOWAS recorded growth in overseas purchases of orange juice (single strength), which increased by 38% to X tons in 2021. Overall, imports posted a prominent increase. As a result, imports attained the peak and are likely to continue growth in the immediate term.

In value terms, orange juice (single strength) imports skyrocketed to $X in 2021. Over the period under review, imports posted a strong increase. As a result, imports attained the peak and are likely to continue growth in the immediate term.

Imports by Country

In 2021, Senegal (X tons), distantly followed by Mali (X tons), Cabo Verde (X tons), Guinea-Bissau (X tons), Ghana (X tons), Gambia (X tons) and Guinea (X tons) were the major importers of orange juice (single strength), together constituting 88% of total imports.

From 2012 to 2021, the most notable rate of growth in terms of purchases, amongst the key importing countries, was attained by Guinea-Bissau (with a CAGR of +48.1%), while imports for the other leaders experienced more modest paces of growth.

In value terms, the largest orange juice (single strength) importing markets in ECOWAS were Senegal ($X), Guinea-Bissau ($X) and Mali ($X), with a combined 53% share of total imports.

Guinea-Bissau, with a CAGR of +53.0%, recorded the highest rates of growth with regard to 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

The import price in ECOWAS stood at $X per ton in 2021, increasing by 2.2% against the previous year. Over the period under review, the import price continues to indicate a relatively flat trend pattern. The pace of growth was the most pronounced in 2020 when the import price increased by 5%. Over the period under review, import prices attained the maximum at $X per ton in 2013; however, from 2014 to 2021, import prices failed to regain momentum.

There were significant differences in the average prices amongst the major importing countries. In 2021, the country with the highest price was Guinea-Bissau ($X per ton), while Guinea ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Guinea-Bissau (+3.3%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform