Ghana: Market for Colouring Matter Of Vegetable Or Animal Origin 2024

Market Size for Colouring Matter Of Vegetable Or Animal Origin in Ghana

In 2021, the Ghanian market for colouring matter of vegetable or animal origin was finally on the rise to reach $X for the first time since 2017, thus ending a three-year declining trend. In general, the total consumption indicated notable growth from 2012 to 2021: its value increased at an average annual rate of +3.3% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, consumption decreased by -29.9% against 2017 indices. Over the period under review, the market attained the maximum level at $X in 2017; however, from 2018 to 2021, consumption stood at a somewhat lower figure.

Production of Colouring Matter Of Vegetable Or Animal Origin in Ghana

In value terms, vegetable or animal colouring matter production soared to $X in 2021 estimated in export price. In general, the total production indicated a temperate expansion from 2012 to 2021: its value increased at an average annual rate of +2.0% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, production decreased by -39.0% against 2017 indices. The pace of growth was the most pronounced in 2014 when the production volume increased by 34% against the previous year. Over the period under review, production hit record highs at $X in 2017; however, from 2018 to 2021, production failed to regain momentum.

Exports of Colouring Matter Of Vegetable Or Animal Origin

Exports from Ghana

In 2021, shipments abroad of colouring matter of vegetable or animal origin decreased by -76.3% to X tons, falling for the third year in a row after five years of growth. Overall, exports, however, showed a relatively flat trend pattern. The most prominent rate of growth was recorded in 2014 with an increase of 773%. Over the period under review, the exports reached the peak figure at X tons in 2018; however, from 2019 to 2021, the exports failed to regain momentum.

In value terms, vegetable or animal colouring matter exports contracted remarkably to $X in 2021. Over the period under review, exports showed a deep contraction. The pace of growth appeared the most rapid in 2014 with an increase of 462% against the previous year. The exports peaked at $X in 2018; however, from 2019 to 2021, the exports stood at a somewhat lower figure.

Exports by Country

The United States (X tons) was the main destination for vegetable or animal colouring matter exports from Ghana, accounting for a 83% share of total exports. Moreover, vegetable or animal colouring matter exports to the United States exceeded the volume sent to the second major destination, Niger (X tons), sevenfold. The third position in this ranking was taken by Canada (X kg), with a 3.1% share.

From 2012 to 2021, the average annual rate of growth in terms of volume to the United States was relatively modest. Exports to the other major destinations recorded the following average annual rates of exports growth: Niger (+53.1% per year) and Canada (+17.2% per year).

In value terms, the United States ($X) remains the key foreign market for colouring matter of vegetable or animal origin exports from Ghana, comprising 90% of total exports. The second position in the ranking was held by Canada ($X), with a 4% share of total exports. It was followed by Niger, with a 1.2% share.

From 2012 to 2021, the average annual growth rate of value to the United States amounted to -10.4%. Exports to the other major destinations recorded the following average annual rates of exports growth: Canada (-10.8% per year) and Niger (+13.0% per year).

Export Prices by Country

The average export price for colouring matter of vegetable or animal origin stood at $X per ton in 2021, which is down by -7.8% against the previous year. In general, the export price continues to indicate a abrupt shrinkage. The most prominent rate of growth was recorded in 2013 when the average export price increased by 52% against the previous year. As a result, the export price reached the peak level of $X per ton. From 2014 to 2021, the average export prices failed to regain momentum.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Canada ($X per ton), while the average price for exports to Niger ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to the United States (-9.7%), while the prices for the other major destinations experienced a decline.

Imports of Colouring Matter Of Vegetable Or Animal Origin

Imports into Ghana

Vegetable or animal colouring matter imports into Ghana dropped notably to X tons in 2021, which is down by -48.5% against 2020. In general, imports, however, recorded significant growth. The pace of growth appeared the most rapid in 2013 when imports increased by 851% against the previous year. Over the period under review, imports reached the peak figure at X tons in 2020, and then contracted notably in the following year.

In value terms, vegetable or animal colouring matter imports reduced to $X in 2021. Overall, imports, however, recorded a significant increase. The most prominent rate of growth was recorded in 2013 with an increase of 964%. Imports peaked at $X in 2017; however, from 2018 to 2021, imports stood at a somewhat lower figure.

Imports by Country

India (X tons), Israel (X tons) and the United States (X tons) were the main suppliers of vegetable or animal colouring matter imports to Ghana, with a combined 88% share of total imports.

From 2012 to 2021, the biggest increases were recorded for India (with a CAGR of +72.5%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, the United States ($X), India ($X) and Israel ($X) constituted the largest vegetable or animal colouring matter suppliers to Ghana, together accounting for 95% of total imports.

In terms of the main suppliers, India, with a CAGR of +97.0%, saw 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 average import price for colouring matter of vegetable or animal origin stood at $X per ton in 2021, growing by 66% against the previous year. Over the period under review, the import price posted a prominent increase. The most prominent rate of growth was recorded in 2015 an increase of 87% against the previous year. As a result, import price attained the peak level of $X per ton. From 2016 to 2021, the average import prices remained at a somewhat lower figure.

There were significant differences in the average prices amongst the major supplying countries. In 2021, amid the top importers, the country with the highest price was the United States ($X per ton), while the price for Belgium ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by the United States (+34.9%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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