ECOWAS: Market for Spirits, Liqueurs And Other Spirituous Beverages 2024

Market Size for Spirits, Liqueurs And Other Spirituous Beverages in ECOWAS

In 2022, the ECOWAS market for spirits, liqueurs and other spirituous beverages increased by 42% to $X, rising for the third consecutive year after two years of decline. Over the period under review, consumption recorded a resilient expansion. Over the period under review, the market hit record highs in 2022 and is likely to see steady growth in years to come.

Production of Spirits, Liqueurs And Other Spirituous Beverages in ECOWAS

In value terms, production of spirits, liqueurs and other spirituous beverages dropped to $X in 2022 estimated in export price. The total production indicated pronounced growth from 2012 to 2022: its value increased at an average annual rate of +4.4% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, production increased by +3.7% against 2018 indices. The most prominent rate of growth was recorded in 2013 with an increase of 43%. Over the period under review, production of reached the peak level at $X in 2017; however, from 2018 to 2022, production failed to regain momentum.

Exports of Spirits, Liqueurs And Other Spirituous Beverages

Exports in ECOWAS

In 2022, exports of spirits, liqueurs and other spirituous beverages in ECOWAS was estimated at X litres, surging by 10% compared with the previous year's figure. In general, exports recorded a buoyant increase. The most prominent rate of growth was recorded in 2017 when exports increased by 110% against the previous year. The volume of export peaked at X litres in 2020; however, from 2021 to 2022, the exports remained at a lower figure.

In value terms, exports of spirits, liqueurs and other spirituous beverages stood at $X in 2022. Over the period under review, exports, however, recorded a abrupt shrinkage. The most prominent rate of growth was recorded in 2013 with an increase of 115%. As a result, the exports attained the peak of $X. From 2014 to 2022, the growth of the exports of failed to regain momentum.

Exports by Country

In 2022, Ghana (X litres) represented the main exporter of spirits, liqueurs and other spirituous beverages, comprising 72% of total exports. It was distantly followed by Cote d'Ivoire (X litres), achieving a 23% share of total exports.

Exports from Ghana increased at an average annual rate of +5.8% from 2012 to 2022. At the same time, Cote d'Ivoire (+52.1%) displayed positive paces of growth. Moreover, Cote d'Ivoire emerged as the fastest-growing exporter exported in ECOWAS, with a CAGR of +52.1% from 2012-2022. From 2012 to 2022, the share of Cote d'Ivoire increased by +23 percentage points, while the shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Ghana ($X) remains the largest spirits, liqueurs and other spirituous beverages supplier in ECOWAS, comprising 58% of total exports. The second position in the ranking was held by Cote d'Ivoire ($X), with a 25% share of total exports.

From 2012 to 2022, the average annual rate of growth in terms of value in Ghana totaled -9.8%.

Export Prices by Country

The export price in ECOWAS stood at $X per litre in 2022, dropping by -8.2% against the previous year. Overall, the export price continues to indicate a abrupt curtailment. The pace of growth was the most pronounced in 2021 an increase of 15% against the previous year. Over the period under review, the export prices hit record highs at $X per litre in 2013; however, from 2014 to 2022, the export prices failed to regain momentum.

Average prices varied somewhat amongst the major exporting countries. In 2022, amid the top suppliers, the country with the highest price was Cote d'Ivoire ($X per litre), while Ghana stood at $X per litre.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Cote d'Ivoire (-11.7%).

Imports of Spirits, Liqueurs And Other Spirituous Beverages

Imports in ECOWAS

In 2022, the amount of spirits, liqueurs and other spirituous beverages imported in ECOWAS soared to X litres, with an increase of 190% compared with the previous year. Over the period under review, imports showed a significant increase. As a result, imports attained the peak and are likely to continue growth in the immediate term.

In value terms, imports of spirits, liqueurs and other spirituous beverages soared to $X in 2022. Overall, imports showed a significant expansion. As a result, imports reached the peak and are likely to continue growth in the immediate term.

Imports by Country

The countries with the highest levels of imports of spirits, liqueurs and other spirituous beverages in 2022 were Togo (X litres), Burkina Faso (X litres), Cote d'Ivoire (X litres) and Nigeria (X litres), together finishing at 92% of total import. Mali (X litres) followed a long way behind the leaders.

From 2012 to 2022, the most notable rate of growth in terms of purchases, amongst the main importing countries, was attained by Cote d'Ivoire (with a CAGR of +58.4%), while imports for the other leaders experienced more modest paces of growth.

In value terms, Nigeria ($X), Cote d'Ivoire ($X) and Burkina Faso ($X) were the countries with the highest levels of imports in 2022, together comprising 77% of total imports.

Cote d'Ivoire, with a CAGR of +45.2%, 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 litre in 2022, waning by -25.1% against the previous year. Over the period under review, the import price showed a drastic downturn. The pace of growth appeared the most rapid in 2014 an increase of 22%. As a result, import price reached the peak level of $X per litre. From 2015 to 2022, the import prices remained at a 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 Nigeria ($X per litre), while Togo ($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 (+2.0%), while the other leaders experienced a decline in the import price figures.

Source: IndexBox Platform