Western Africa: Animal Feed Market 2024

Animal Feed Market Size in Western Africa

The West African animal feed market amounted to $X in 2022, picking up by 1.7% against the previous year. The market value increased at an average annual rate of +3.2% from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The level of consumption peaked at $X in 2020; however, from 2021 to 2022, consumption remained at a lower figure.

Animal Feed Production in Western Africa

In value terms, animal feed production reached $X in 2022 estimated in export price. The total output value increased at an average annual rate of +3.5% from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The pace of growth appeared the most rapid in 2016 with an increase of 21% against the previous year. Over the period under review, production reached the maximum level at $X in 2020; however, from 2021 to 2022, production stood at a somewhat lower figure.

Animal Feed Exports

Exports in Western Africa

In 2022, overseas shipments of animal and pet feed decreased by -19.8% to X tons for the first time since 2016, thus ending a five-year rising trend. Overall, exports recorded a deep reduction. The most prominent rate of growth was recorded in 2021 when exports increased by 50%. Over the period under review, the exports hit record highs at X tons in 2012; however, from 2013 to 2022, the exports remained at a lower figure.

In value terms, animal feed exports declined rapidly to $X in 2022. Over the period under review, exports, however, continue to indicate a slight increase. The pace of growth was the most pronounced in 2021 with an increase of 82%. As a result, the exports attained the peak of $X, and then shrank remarkably in the following year.

Exports by Country

Mauritania was the largest exporter of animal and pet feed in Western Africa, with the volume of exports reaching X tons, which was approx. 49% of total exports in 2022. It was distantly followed by Senegal (X tons), Cote d'Ivoire (X tons) and Nigeria (X tons), together comprising a 43% share of total exports. Ghana (X tons) and Benin (X tons) took a little share of total exports.

From 2012 to 2022, the most notable rate of growth in terms of shipments, amongst the leading exporting countries, was attained by Mauritania (with a CAGR of +64.5%), while the other leaders experienced more modest paces of growth.

In value terms, Mauritania ($X) remains the largest animal feed supplier in Western Africa, comprising 64% of total exports. The second position in the ranking was held by Senegal ($X), with a 14% share of total exports. It was followed by Nigeria, with a 9.8% share.

In Mauritania, animal feed exports expanded at an average annual rate of +66.1% over the period from 2012-2022. The remaining exporting countries recorded the following average annual rates of exports growth: Senegal (+10.3% per year) and Nigeria (-16.2% per year).

Export Prices by Country

In 2022, the export price in Western Africa amounted to $X per ton, declining by -5.8% against the previous year. Overall, the export price, however, enjoyed a resilient expansion. The most prominent rate of growth was recorded in 2013 when the export price increased by 66% against the previous year. Over the period under review, the export prices attained the maximum at $X per ton in 2021, and then fell in the following year.

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 Nigeria ($X per ton), while Senegal ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Nigeria (+20.1%), while the other leaders experienced more modest paces of growth.

Animal Feed Imports

Imports in Western Africa

After four years of growth, overseas purchases of animal and pet feed decreased by -16.5% to X tons in 2022. Overall, imports, however, enjoyed a remarkable increase. The most prominent rate of growth was recorded in 2019 when imports increased by 37%. Over the period under review, imports reached the maximum at X tons in 2021, and then dropped rapidly in the following year.

In value terms, animal feed imports shrank to $X in 2022. In general, imports, however, continue to indicate a buoyant increase. The pace of growth appeared the most rapid in 2020 with an increase of 49% against the previous year. The level of import peaked at $X in 2021, and then dropped in the following year.

Imports by Country

The countries with the highest levels of animal feed imports in 2022 were Ghana (X tons), Nigeria (X tons) and Cote d'Ivoire (X tons), together recording 70% of total import. Mali (X tons) held a 12% share (based on physical terms) of total imports, which put it in second place, followed by Guinea (6.1%). The following importers - Senegal (X tons) and Cabo Verde (X tons) - together made up 4.7% of total imports.

From 2012 to 2022, the biggest increases were recorded for Mali (with a CAGR of +39.0%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, Nigeria ($X), Ghana ($X) and Cote d'Ivoire ($X) appeared to be the countries with the highest levels of imports in 2022, with a combined 76% share of total imports. Mali, Guinea, Senegal and Cabo Verde lagged somewhat behind, together accounting for a further 20%.

In terms of the main importing countries, Mali, with a CAGR of +38.1%, 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 Western Africa stood at $X per ton in 2022, increasing by 4.7% against the previous year. Over the period from 2012 to 2022, it increased at an average annual rate of +1.2%. The most prominent rate of growth was recorded in 2013 an increase of 17% against the previous year. The level of import peaked at $X per ton in 2014; however, from 2015 to 2022, import prices stood at a somewhat lower figure.

Prices varied noticeably by country of destination: amid the top importers, the country with the highest price was Senegal ($X per ton), while Cabo Verde ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Nigeria (+2.5%), while the other leaders experienced mixed trends in the import price figures.

Source: IndexBox Platform

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