ECOWAS: Vegetable Product Market 2025

Vegetable Product Market Size in ECOWAS

In 2022, the ECOWAS vegetable product market increased by 47% to $X for the first time since 2019, thus ending a two-year declining trend. The market value increased at an average annual rate of +1.6% over the period from 2012 to 2022; the trend pattern indicated some noticeable fluctuations being recorded in certain years. As a result, consumption reached the peak level and is likely to continue growth in the immediate term.

Vegetable Product Production in ECOWAS

In value terms, vegetable product production surged to $X in 2022 estimated in export price. The total output value increased at an average annual rate of +1.6% over the period from 2012 to 2022; the trend pattern indicated some noticeable fluctuations being recorded in certain years. As a result, production reached the peak level and is likely to continue growth in the immediate term.

The countries with the highest volumes of production in 2022 were Cote d'Ivoire (X tons), Nigeria (X tons) and Senegal (X tons), with a combined 66% share of total production. Mali, Burkina Faso, Niger and Guinea lagged somewhat behind, together accounting for a further 25%.

From 2012 to 2022, the most notable rate of growth in terms of production, amongst the main producing countries, was attained by Niger (with a CAGR of +8.6%), while production for the other leaders experienced more modest paces of growth.

In 2022, the average yield of vegetable products in ECOWAS was estimated at X tons per ha, remaining constant against 2021 figures. In general, the yield, however, showed a relatively flat trend pattern. The most prominent rate of growth was recorded in 2017 with an increase of 3.7% against the previous year. Over the period under review, the vegetable product yield attained the peak level at X tons per ha in 2012; however, from 2013 to 2022, the yield failed to regain momentum. Despite the increased use of modern agricultural techniques and methods, future yield figures may still be impacted by adverse weather conditions.

In 2022, approx. X ha of vegetable products were harvested in ECOWAS; remaining constant against the previous year. The harvested area increased at an average annual rate of +2.4% from 2012 to 2022; the trend pattern remained consistent, with somewhat noticeable fluctuations being recorded throughout the analyzed period. The growth pace was the most rapid in 2014 with an increase of 8% against the previous year. The level of harvested area peaked at X ha in 2021, and then declined modestly in the following year.

Vegetable Product Exports

Exports in ECOWAS

After five years of growth, overseas shipments of vegetable products decreased by -1% to X tons in 2022. Overall, exports, however, recorded prominent growth. The pace of growth was the most pronounced in 2017 with an increase of 47%. Over the period under review, the exports reached the peak figure at X tons in 2021, and then fell in the following year.

In value terms, vegetable product exports soared to $X in 2022. Over the period under review, exports, however, continue to indicate a buoyant increase. The growth pace was the most rapid in 2017 with an increase of 94% against the previous year. The level of export peaked in 2022 and is likely to continue growth in the near future.

Exports by Country

Nigeria was the key exporter of vegetable products in ECOWAS, with the volume of exports finishing at X tons, which was near 81% of total exports in 2022. It was distantly followed by Niger (X tons), creating a 13% share of total exports. Cote d'Ivoire (X tons) took a relatively small share of total exports.

From 2012 to 2022, average annual rates of growth with regard to vegetable product exports from Nigeria stood at +12.6%. At the same time, Niger (+55.2%) and Cote d'Ivoire (+18.4%) displayed positive paces of growth. Moreover, Niger emerged as the fastest-growing exporter exported in ECOWAS, with a CAGR of +55.2% from 2012-2022. While the share of Niger (+13 p.p.) increased significantly in terms of the total exports from 2012-2022, the share of Nigeria (-12.6 p.p.) displayed negative dynamics. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Nigeria ($X) remains the largest vegetable product supplier in ECOWAS, comprising 82% of total exports. The second position in the ranking was taken by Niger ($X), with a 10% share of total exports.

In Nigeria, vegetable product exports expanded at an average annual rate of +11.9% over the period from 2012-2022. In the other countries, the average annual rates were as follows: Niger (+52.5% per year) and Cote d'Ivoire (+27.5% per year).

Export Prices by Country

In 2022, the export price in ECOWAS amounted to $X per ton, surging by 47% against the previous year. Overall, the export price, however, recorded a relatively flat trend pattern. Over the period under review, the export prices hit record highs at $X per ton in 2013; however, from 2014 to 2022, the export prices remained at a 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 Cote d'Ivoire ($X per ton), while Niger ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Cote d'Ivoire (+7.7%), while the other leaders experienced a decline in the export price figures.

Vegetable Product Imports

Imports in ECOWAS

In 2022, vegetable product imports in ECOWAS surged to X tons, jumping by 43% compared with the previous year's figure. In general, imports continue to indicate prominent growth. The growth pace was the most rapid in 2020 when imports increased by 155%. As a result, imports reached the peak of X tons. From 2021 to 2022, the growth of imports failed to regain momentum.

In value terms, vegetable product imports expanded markedly to $X in 2022. Overall, imports showed a buoyant increase. The pace of growth appeared the most rapid in 2014 with an increase of 86% against the previous year. Over the period under review, imports reached the maximum at $X in 2020; however, from 2021 to 2022, imports failed to regain momentum.

Imports by Country

Nigeria was the largest importing country with an import of around X tons, which accounted for 64% of total imports. Cote d'Ivoire (X tons) held a 10% share (based on physical terms) of total imports, which put it in second place, followed by Senegal (6.7%) and Niger (6.2%). The following importers - Ghana (X tons), Togo (X tons) and Mali (X tons) - together made up 10% of total imports.

Imports into Nigeria increased at an average annual rate of +28.8% from 2012 to 2022. At the same time, Cote d'Ivoire (+50.3%), Senegal (+30.8%) and Mali (+18.5%) displayed positive paces of growth. Moreover, Cote d'Ivoire emerged as the fastest-growing importer imported in ECOWAS, with a CAGR of +50.3% from 2012-2022. Ghana experienced a relatively flat trend pattern. By contrast, Togo (-3.0%) and Niger (-3.3%) illustrated a downward trend over the same period. From 2012 to 2022, the share of Nigeria, Cote d'Ivoire and Senegal increased by +47, +9.8 and +5.2 percentage points, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Cote d'Ivoire ($X), Nigeria ($X) and Senegal ($X) constituted the countries with the highest levels of imports in 2022, with a combined 76% share of total imports.

Cote d'Ivoire, with a CAGR of +66.1%, recorded the highest rates of growth with regard to 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 ton in 2022, shrinking by -22.6% against the previous year. Over the period under review, the import price, however, recorded a relatively flat trend pattern. The most prominent rate of growth was recorded in 2021 when the import price increased by 68%. As a result, import price attained the peak level of $X per ton, and then shrank significantly in the following year.

Prices varied noticeably by country of destination: amid the top importers, the country with the highest price was Senegal ($X per ton), while Nigeria ($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 (+42.6%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform