Report Update Nov 1, 2024

Ghana - Animal Fats and Oils - Market Analysis, Forecast, Size, Trends and Insights

Single report

Sent by email within 24h (Mon-Fri)

$599 Basic Edition

$2095 Professional Edition

What's the difference?

Subscription

Online access and download

from $350/month

Get instant access to more than 2 million reports, dashboards, and datasets on the IndexBox Platform.

View Pricing

Ghana: Animal Fats Market 2024

Animal Fats Market Size in Ghana

After two years of growth, the Ghanian animal fats market decreased by -21.4% to $X in 2021. Over the period under review, consumption, however, continues to indicate resilient growth. As a result, consumption reached the peak level of $X, and then declined rapidly in the following year.

Animal Fats Production in Ghana

In value terms, animal fats production dropped dramatically to $X in 2021 estimated in export price. Overall, production, however, enjoyed a buoyant expansion. The pace of growth was the most pronounced in 2013 with an increase of 77% against the previous year. Animal fats production peaked at $X in 2020, and then reduced rapidly in the following year.

Animal Fats Exports

Exports from Ghana

In 2021, the amount of animal fats and oils exported from Ghana dropped rapidly to X kg, with a decrease of -95.5% against the previous year. In general, exports showed a sharp decline. The growth pace was the most rapid in 2019 with an increase of 732%. The exports peaked at X tons in 2015; however, from 2016 to 2021, the exports failed to regain momentum.

In value terms, animal fats exports fell sharply to $X in 2021. Overall, exports recorded a significant curtailment. The growth pace was the most rapid in 2019 with an increase of 1,083% against the previous year. As a result, the exports attained the peak of $X. From 2020 to 2021, the growth of the exports remained at a somewhat lower figure.

Exports by Country

Belgium (X kg) was the main destination for animal fats exports from Ghana, with a 48% share of total exports. Moreover, animal fats exports to Belgium exceeded the volume sent to the second major destination, South Africa (X kg), more than tenfold.

From 2014 to 2021, the average annual rate of growth in terms of volume to Belgium was relatively modest.

In value terms, Belgium ($X) emerged as the key foreign market for animal fats and oils exports from Ghana, comprising 45% of total exports. The second position in the ranking was held by South Africa ($X), with a 1.4% share of total exports.

From 2014 to 2021, the average annual growth rate of value to Belgium was relatively modest.

Export Prices by Country

The average animal fats export price stood at $X per ton in 2021, growing by 83% against the previous year. Overall, the export price showed a significant increase. The growth pace was the most rapid in 2018 when the average export price increased by 93% against the previous year. The export price peaked in 2021 and is expected to retain growth in the near future.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Belgium ($X per ton), while the average price for exports to South Africa amounted to $X per ton.

From 2015 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to Burkina Faso (+119.6%).

Animal Fats Imports

Imports into Ghana

In 2021, animal fats imports into Ghana dropped markedly to X kg, with a decrease of -74.2% compared with the year before. Over the period under review, imports showed a sharp decline. The pace of growth was the most pronounced in 2014 with an increase of 28,694% against the previous year. As a result, imports reached the peak of X tons. From 2015 to 2021, the growth of imports remained at a lower figure.

In value terms, animal fats imports dropped remarkably to $X in 2021. In general, imports faced a sharp shrinkage. The pace of growth was the most pronounced in 2014 when imports increased by 18,289% against the previous year. As a result, imports reached the peak of $X. From 2015 to 2021, the growth of imports remained at a somewhat lower figure.

Imports by Country

The United States (X kg), Lebanon (X kg) and Canada (X kg) were the main suppliers of animal fats imports to Ghana, together accounting for 90% of total imports.

From 2012 to 2021, the biggest increases were recorded for the United States (with a CAGR of +52.8%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, the largest animal fats suppliers to Ghana were the United States ($X), Lebanon ($X) and Turkey ($X), together comprising 91% of total imports.

Among the main suppliers, the United States, with a CAGR of +48.7%, recorded the highest growth rate of 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 average animal fats import price stood at $X per ton in 2021, with a decrease of -3.3% against the previous year. Over the period under review, the import price showed a perceptible shrinkage. The pace of growth appeared the most rapid in 2013 an increase of 82%. As a result, import price attained the peak level of $X per ton. From 2014 to 2021, the average import prices remained at a lower figure.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was Turkey ($X per ton), while the price for Canada ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Thailand (+17.6%), while the prices for the other major suppliers experienced mixed trend patterns.

Source: IndexBox Platform

Frequently Asked Questions (FAQ) :

What are the largest markets for animal fats and oils in the world?

The countries with the highest volumes of animal fats consumption in 2020 were China, the U.S. and India, together accounting for 27% of global consumption. These countries were followed by Italy, Japan, Russia, Brazil, Indonesia, Spain, Germany, Mexico, Pakistan and France, which together accounted for a further 26%.

What are the largest producers of animal fats and oils in the world?

China remains the largest animal fats producing country worldwide, accounting for 15% of total volume. Moreover, animal fats production in China exceeded the figures recorded by the second-largest producer, the U.S., twofold. India ranked third in terms of total production with a 5.6% share.

What are the leading suppliers of animal fats and oils to Ghana?

In value terms, the largest animal fats suppliers to Ghana were Lebanon, the U.S. $736) and the UK $320), with a combined 84% share of total imports.

What are the leading importers of animal fats and oils from Ghana?

In value terms, Sudan $87) remains the key foreign market for animal fats exports from Ghana, comprising 98% of total exports. The second position in the ranking was occupied by Canada $2), with a 2.2% share of total exports.

What is the average export price for animal fats and oils in Ghana?

The average animal fats export price stood at $795 per ton in 2020, with a decrease of -43.3% against the previous year.

What is the average import price for animal fats and oils in Ghana?

The average animal fats import price stood at $2,147 per ton in 2020, growing by 6.2% against the previous year.

This report provides an in-depth analysis of the animal fats market in Ghana. Within it, you will discover the latest data on market trends and opportunities by country, consumption, production and price developments, as well as the global trade (imports and exports). The forecast exhibits the market prospects through 2030.

Product coverage:

Prodcom 10416030 - Animal fats and oils and their fractions partly or wholly hydrogenated, inter-esterified, re-esterified or elaidinised, but not further prepared (including refined)

Country coverage:

Ghana

Data coverage:

Market volume and value
Per Capita consumption
Forecast of the market dynamics in the medium term
Trade (exports and imports) in Ghana
Export and import prices
Market trends, drivers and restraints
Key market players and their profiles

Reasons to buy this report:

Take advantage of the latest data
Find deeper insights into current market developments
Discover vital success factors affecting the market

This report is designed for manufacturers, distributors, importers, and wholesalers, as well as for investors, consultants and advisors.

In this report, you can find information that helps you to make informed decisions on the following issues:

How to diversify your business and benefit from new market opportunities
How to load your idle production capacity
How to boost your sales on overseas markets
How to increase your profit margins
How to make your supply chain more sustainable
How to reduce your production and supply chain costs
How to outsource production to other countries
How to prepare your business for global expansion

While doing this research, we combine the accumulated expertise of our analysts and the capabilities of artificial intelligence. The AI-based platform, developed by our data scientists, constitutes the key working tool for business analysts, empowering them to discover deep insights and ideas from the marketing data.

1. INTRODUCTION

Making Data-Driven Decisions to Grow Your Business
1. REPORT DESCRIPTION
2. RESEARCH METHODOLOGY AND AI PLATFORM
3. DATA-DRIVEN DECISIONS FOR YOUR BUSINESS
4. GLOSSARY AND SPECIFIC TERMS
2. EXECUTIVE SUMMARY

A Quick Overview of Market Performance
1. KEY FINDINGS
2. MARKET TRENDS This Chapter is Available Only for the Professional Edition PRO
3. MARKET OVERVIEW

Understanding the Current State of The Market and Its Prospects
1. MARKET SIZE
2. MARKET STRUCTURE
3. TRADE BALANCE
4. PER CAPITA CONSUMPTION
5. MARKET FORECAST TO 2030
4. MOST PROMISING PRODUCT

Finding New Products to Diversify Your Business
This Chapter is Available Only for the Professional Edition PRO
1. TOP PRODUCTS TO DIVERSIFY YOUR BUSINESS
2. BEST-SELLING PRODUCTS
3. MOST CONSUMED PRODUCT
4. MOST TRADED PRODUCT
5. MOST PROFITABLE PRODUCT FOR EXPORT
5. MOST PROMISING SUPPLYING COUNTRIES

Choosing the Best Countries to Establish Your Sustainable Supply Chain
This Chapter is Available Only for the Professional Edition PRO
1. TOP COUNTRIES TO SOURCE YOUR PRODUCT
2. TOP PRODUCING COUNTRIES
3. TOP EXPORTING COUNTRIES
4. LOW-COST EXPORTING COUNTRIES
6. MOST PROMISING OVERSEAS MARKETS

Choosing the Best Countries to Boost Your Exports
This Chapter is Available Only for the Professional Edition PRO
1. TOP OVERSEAS MARKETS FOR EXPORTING YOUR PRODUCT
2. TOP CONSUMING MARKETS
3. UNSATURATED MARKETS
4. TOP IMPORTING MARKETS
5. MOST PROFITABLE MARKETS
7. PRODUCTION

The Latest Trends and Insights into The Industry
1. PRODUCTION VOLUME AND VALUE
8. IMPORTS
The Largest Import Supplying Countries
1. IMPORTS FROM 2012–2023
2. IMPORTS BY COUNTRY
3. IMPORT PRICES BY COUNTRY
9. EXPORTS
The Largest Destinations for Exports
1. EXPORTS FROM 2012–2023
2. EXPORTS BY COUNTRY
3. EXPORT PRICES BY COUNTRY
10. PROFILES OF MAJOR PRODUCERS

The Largest Producers on The Market and Their Profiles
This Chapter is Available Only for the Professional Edition PRO
LIST OF TABLES
1. Key Findings In 2023
2. Market Volume, In Physical Terms, 2012–2023
3. Market Value, 2012–2023
4. Per Capita Consumption In 2012-2023
5. Imports, In Physical Terms, By Country, 2012–2023
6. Imports, In Value Terms, By Country, 2012–2023
7. Import Prices, By Country Of Origin, 2012–2023
8. Exports, In Physical Terms, By Country, 2012–2023
9. Exports, In Value Terms, By Country, 2012–2023
10. Export Prices, By Country Of Destination, 2012–2023
LIST OF FIGURES
1. Market Volume, In Physical Terms, 2012–2023
2. Market Value, 2012–2023
3. Market Structure – Domestic Supply vs. Imports, In Physical Terms, 2012-2023
4. Market Structure – Domestic Supply vs. Imports, In Value Terms, 2012-2023
5. Trade Balance, In Physical Terms, 2012-2023
6. Trade Balance, In Value Terms, 2012-2023
7. Per Capita Consumption, 2012-2023
8. Market Volume Forecast to 2030
9. Market Value Forecast to 2030
10. Products: Market Size And Growth, By Type
11. Products: Average Per Capita Consumption, By Type
12. Products: Exports And Growth, By Type
13. Products: Export Prices And Growth, By Type
14. Production Volume And Growth
15. Exports And Growth
16. Export Prices And Growth
17. Market Size And Growth
18. Per Capita Consumption
19. Imports And Growth
20. Import Prices
21. Production, In Physical Terms, 2012–2023
22. Production, In Value Terms, 2012–2023
23. Imports, In Physical Terms, 2012–2023
24. Imports, In Value Terms, 2012–2023
25. Imports, In Physical Terms, By Country, 2023
26. Imports, In Physical Terms, By Country, 2012–2023
27. Imports, In Value Terms, By Country, 2012–2023
28. Import Prices, By Country Of Origin, 2012–2023
29. Exports, In Physical Terms, 2012–2023
30. Exports, In Value Terms, 2012–2023
31. Exports, In Physical Terms, By Country, 2023
32. Exports, In Physical Terms, By Country, 2012–2023
33. Exports, In Value Terms, By Country, 2012–2023
34. Export Prices, By Country Of Destination, 2012–2023