ECOWAS: Market for Non-Mineral or Non-Aerated Waters 2024

Market Size for Non-Mineral or Non-Aerated Waters in ECOWAS

The ECOWAS non-mineral or non-aerated water market reduced to $X in 2021, standing approx. at the previous year. The total consumption indicated a noticeable expansion from 2012 to 2021: its value increased at an average annual rate of +3.6% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, consumption increased by +50.0% against 2015 indices. The level of consumption peaked at $X in 2020, and then dropped in the following year.

Production of Non-Mineral or Non-Aerated Waters in ECOWAS

In value terms, non-mineral or non-aerated water production declined slightly to $X in 2021 estimated in export price. The total production indicated a perceptible increase from 2012 to 2021: its value increased at an average annual rate of +3.6% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, production increased by +59.3% against 2015 indices. The growth pace was the most rapid in 2017 with an increase of 32% against the previous year. Over the period under review, production hit record highs at $X in 2020, and then dropped in the following year.

Exports of Non-Mineral or Non-Aerated Waters

Exports in ECOWAS

In 2021, overseas shipments of non-mineral or non-aerated waters decreased by -50.8% to X litres for the first time since 2018, thus ending a two-year rising trend. Overall, exports, however, showed a prominent expansion. The most prominent rate of growth was recorded in 2015 when exports increased by 369% against the previous year. The volume of export peaked at X litres in 2020, and then contracted remarkably in the following year.

In value terms, non-mineral or non-aerated water exports declined notably to $X in 2021. Over the period under review, exports, however, showed a tangible increase. The most prominent rate of growth was recorded in 2015 with an increase of 227%. The level of export peaked at $X in 2020, and then contracted rapidly in the following year.

Exports by Country

Nigeria represented the largest exporter of non-mineral or non-aerated waters in ECOWAS, with the volume of exports finishing at X litres, which was approx. 60% of total exports in 2021. Niger (X litres) took a 17% share (based on physical terms) of total exports, which put it in second place, followed by Cabo Verde (13%). Mali (X litres) and Ghana (X litres) held a little share of total exports.

From 2012 to 2021, average annual rates of growth with regard to non-mineral or non-aerated water exports from Nigeria stood at +9.9%. At the same time, Niger (+18.7%) and Mali (+16.1%) displayed positive paces of growth. Moreover, Niger emerged as the fastest-growing exporter exported in ECOWAS, with a CAGR of +18.7% from 2012-2021. Cabo Verde experienced a relatively flat trend pattern. By contrast, Ghana (-8.9%) illustrated a downward trend over the same period. From 2012 to 2021, the share of Cabo Verde, Niger and Nigeria increased by +13, +8.9 and +1.9 percentage points, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, the largest non-mineral or non-aerated water supplying countries in ECOWAS were Nigeria ($X), Niger ($X) and Ghana ($X), together comprising 80% of total exports.

In terms of the main exporting countries, Niger, with a CAGR of +19.6%, recorded the highest growth rate of the value of exports, over the period under review, while shipments for the other leaders experienced mixed trends in the exports figures.

Export Prices by Country

The export price in ECOWAS stood at $X per litre in 2021, with an increase of 31% against the previous year. In general, the export price, however, saw a abrupt curtailment. The growth pace was the most rapid in 2017 when the export price increased by 69%. Over the period under review, the export prices reached the peak figure at $X per litre in 2012; however, from 2013 to 2021, 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 Ghana ($X per litre), while Cabo Verde ($X per litre) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Ghana (+3.8%), while the other leaders experienced mixed trends in the export price figures.

Imports of Non-Mineral or Non-Aerated Waters

Imports in ECOWAS

In 2021, the amount of non-mineral or non-aerated waters imported in ECOWAS soared to X litres, growing by 82% compared with the previous year's figure. Over the period under review, imports showed a temperate expansion. The volume of import peaked at X litres in 2014; however, from 2015 to 2021, imports stood at a somewhat lower figure.

In value terms, non-mineral or non-aerated water imports surged to $X in 2021. Total imports indicated mild growth from 2012 to 2021: its value increased at an average annual rate of +1.9% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, imports increased by +83.2% against 2019 indices. Over the period under review, imports reached the maximum at $X in 2014; however, from 2015 to 2021, imports failed to regain momentum.

Imports by Country

Senegal represented the largest importer of non-mineral or non-aerated waters in ECOWAS, with the volume of imports finishing at X litres, which was approx. 49% of total imports in 2021. Cote d'Ivoire (X litres) ranks second in terms of the total imports with a 13% share, followed by Nigeria (8.3%), Mali (8.2%) and Benin (5.5%). Burkina Faso (X litres) and Liberia (X litres) followed a long way behind the leaders.

Senegal experienced a relatively flat trend pattern with regard to volume of imports of non-mineral or non-aerated waters. At the same time, Mali (+47.4%), Burkina Faso (+31.8%), Cote d'Ivoire (+26.5%), Liberia (+15.6%), Nigeria (+7.1%) and Benin (+6.1%) displayed positive paces of growth. Moreover, Mali emerged as the fastest-growing importer imported in ECOWAS, with a CAGR of +47.4% from 2012-2021. While the share of Cote d'Ivoire (+11 p.p.), Mali (+7.9 p.p.), Burkina Faso (+3.7 p.p.), Liberia (+1.9 p.p.) and Nigeria (+1.8 p.p.) increased significantly in terms of the total imports from 2012-2021, the share of Senegal (-24.6 p.p.) displayed negative dynamics. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Senegal ($X), Nigeria ($X) and Cote d'Ivoire ($X) were the countries with the highest levels of imports in 2021, with a combined 57% share of total imports. These countries were followed by Liberia, Mali, Burkina Faso and Benin, which together accounted for a further 28%.

Mali, with a CAGR of +46.5%, saw the highest growth rate of the value of imports, in terms of 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 litre in 2021, reducing by -17.7% against the previous year. Over the period under review, the import price saw a noticeable slump. The most prominent rate of growth was recorded in 2016 an increase of 38% against the previous year. As a result, import price reached the peak level of $X per litre. From 2017 to 2021, the import prices remained at a lower figure.

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

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Mali (-0.6%), while the other leaders experienced a decline in the import price figures.

Source: IndexBox Platform