ECOWAS: Wine Market 2024

Wine Market Size in ECOWAS

For the sixth year in a row, the ECOWAS wine market recorded growth in sales value, which increased by X% to $X in 2022. Over the period under review, consumption, however, continues to indicate a deep setback. The level of consumption peaked at $X in 2012; however, from 2013 to 2022, consumption failed to regain momentum.

Wine Production in ECOWAS

In value terms, wine production expanded to $X in 2022 estimated in export price. Overall, production showed a relatively flat trend pattern. The most prominent rate of growth was recorded in 2015 when the production volume increased by X%. Over the period under review, production attained the maximum level at $X in 2020; however, from 2021 to 2022, production stood at a somewhat lower figure.

Wine Exports

Exports in ECOWAS

After two years of growth, shipments abroad of wine and grape must decreased by X% to X litres in 2022. Overall, exports, however, continue to indicate a significant increase. The most prominent rate of growth was recorded in 2017 with an increase of X%. Over the period under review, the exports hit record highs at X litres in 2021, and then dropped in the following year.

In value terms, wine exports fell to $X in 2022. In general, exports, however, posted a significant expansion. The growth pace was the most rapid in 2017 when exports increased by X%. Over the period under review, the exports hit record highs at $X in 2021, and then dropped in the following year.

Exports by Country

Togo prevails in exports structure, finishing at X litres, which was near X% of total exports in 2022. Ghana (X litres) took a relatively small share of total exports.

Togo was also the fastest-growing in terms of the wine and grape must exports, with a CAGR of X% from 2012 to 2022. Ghana (X%) illustrated a downward trend over the same period. While the share of Togo (X p.p.) increased significantly in terms of the total exports from 2012-2022, the share of Ghana (X p.p.) displayed negative dynamics.

In value terms, Togo ($X) remains the largest wine supplier in ECOWAS, comprising X% of total exports. The second position in the ranking was held by Ghana ($X), with a X% share of total exports.

From 2012 to 2022, the average annual rate of growth in terms of value in Togo stood at X%.

Export Prices by Country

The export price in ECOWAS stood at $X per litre in 2022, waning by X% against the previous year. In general, the export price continues to indicate a pronounced descent. The pace of growth was the most pronounced in 2013 an increase of X% against the previous year. As a result, the export price reached the peak level of $X per litre. From 2014 to 2022, the export prices remained at a somewhat 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 Togo ($X per litre), while Ghana totaled $X per litre.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Ghana (X%).

Wine Imports

Imports in ECOWAS

Wine imports rose slightly to X litres in 2022, growing by X% compared with 2021 figures. Total imports indicated a tangible expansion from 2012 to 2022: its volume increased at an average annual rate of X% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports increased by X% against 2015 indices. The pace of growth was the most pronounced in 2019 with an increase of X%. Over the period under review, imports hit record highs in 2022 and are expected to retain growth in the immediate term.

In value terms, wine imports shrank modestly to $X in 2022. Total imports indicated a temperate expansion from 2012 to 2022: its value increased at an average annual rate of X% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports increased by X% against 2016 indices. The growth pace was the most rapid in 2021 with an increase of X% against the previous year. As a result, imports reached the peak of $X, and then declined slightly in the following year.

Imports by Country

Cote d'Ivoire was the main importer of wine and grape must in ECOWAS, with the volume of imports amounting to X litres, which was near X% of total imports in 2022. Ghana (X litres) ranks second in terms of the total imports with a X% share, followed by Guinea-Bissau (X%), Togo (X%), Burkina Faso (X%) and Nigeria (X%). Senegal (X litres) took a relatively small share of total imports.

From 2012 to 2022, the biggest increases were recorded for Burkina Faso (with a CAGR of X%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, the largest wine importing markets in ECOWAS were Cote d'Ivoire ($X), Ghana ($X) and Nigeria ($X), with a combined X% share of total imports. Guinea-Bissau, Togo, Burkina Faso and Senegal lagged somewhat behind, together accounting for a further X%.

Among the main importing countries, Togo, with a CAGR of X%, recorded 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

The import price in ECOWAS stood at $X per litre in 2022, reducing by X% against the previous year. Over the period under review, the import price, however, showed a relatively flat trend pattern. The most prominent rate of growth was recorded in 2014 when the import price increased by X%. As a result, import price attained the peak level of $X per litre. From 2015 to 2022, the import prices failed to regain momentum.

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 Ghana ($X per litre), while Burkina Faso ($X per litre) was amongst the lowest.

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

Source: IndexBox Platform