Western Africa: Breakfast Cereal Market 2022

Breakfast Cereal Market Size in Western Africa

After three years of growth, the West African breakfast cereal market decreased by -X% to $X in 2021. In general, consumption, however, continues to indicate a resilient increase. Over the period under review, the market reached the maximum level at $X in 2020, and then dropped slightly in the following year.

Breakfast Cereal Production in Western Africa

In value terms, breakfast cereal production fell to $X in 2021 estimated in export price. Overall, production, however, enjoyed a prominent expansion. The pace of growth was the most pronounced in 2014 when the production volume increased by X% against the previous year. Over the period under review, production hit record highs at $X in 2020, and then declined in the following year.

Breakfast Cereal Exports

Exports in Western Africa

In 2021, the amount of breakfast cereals exported in Western Africa surged to X tons, picking up by X% compared with the year before. Overall, exports posted a strong increase. As a result, the exports reached the peak and are likely to continue growth in the immediate term.

In value terms, breakfast cereal exports soared to $X in 2021. Over the period under review, exports continue to indicate significant growth. As a result, the exports attained the peak and are likely to continue growth in the immediate term.

Exports by Country

In 2021, Senegal (X tons) represented the largest exporter of breakfast cereals, comprising X% of total exports. It was distantly followed by Liberia (X tons), constituting a X% share of total exports. The following exporters - Ghana (X tons) and Burkina Faso (X tons) - each finished at a X% share of total exports.

From 2012 to 2021, average annual rates of growth with regard to breakfast cereal exports from Senegal stood at +X%. At the same time, Liberia (+X%), Burkina Faso (+X%) and Ghana (+X%) displayed positive paces of growth. Moreover, Liberia emerged as the fastest-growing exporter exported in Western Africa, with a CAGR of +X% from 2012-2021. From 2012 to 2021, the share of Liberia, Senegal and Burkina Faso increased by +X, +X and +X percentage points, respectively.

In value terms, Senegal ($X) remains the largest breakfast cereal supplier in Western Africa, comprising X% of total exports. The second position in the ranking was held by Liberia ($X), with an X% share of total exports. It was followed by Ghana, with a X% share.

From 2012 to 2021, the average annual rate of growth in terms of value in Senegal amounted to +X%. In the other countries, the average annual rates were as follows: Liberia (+X% per year) and Ghana (+X% per year).

Export Prices by Country

The export price in Western Africa stood at $X per ton in 2021, which is down by -X% against the previous year. Export price indicated a modest increase from 2012 to 2021: its price increased at an average annual rate of +X% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, breakfast cereal export price increased by +X% against 2019 indices. The pace of growth appeared the most rapid in 2020 an increase of X% against the previous year. As a result, the export price attained the peak level of $X per ton, and then dropped in the following year.

There were significant differences in the average prices amongst the major exporting countries. In 2021, the country with the highest price was Senegal ($X per ton), while Burkina Faso ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Senegal (+X%), while the other leaders experienced mixed trends in the export price figures.

Breakfast Cereal Imports

Imports in Western Africa

In 2021, purchases abroad of breakfast cereals increased by X% to X tons for the first time since 2018, thus ending a two-year declining trend. Overall, imports enjoyed tangible growth. As a result, imports attained the peak and are likely to continue growth in the immediate term.

In value terms, breakfast cereal imports skyrocketed to $X in 2021. In general, imports continue to indicate perceptible growth. As a result, imports reached the peak and are likely to continue growth in the immediate term.

Imports by Country

In 2021, Nigeria (X tons) was the major importer of breakfast cereals, comprising X% of total imports. Burkina Faso (X tons) took the second position in the ranking, distantly followed by Senegal (X tons) and Liberia (X tons). All these countries together took approx. X% share of total imports. Ghana (X tons), Guinea (X tons) and Cote d'Ivoire (X tons) followed a long way behind the leaders.

Imports into Nigeria increased at an average annual rate of +X% from 2012 to 2021. At the same time, Guinea (+X%), Senegal (+X%), Cote d'Ivoire (+X%) and Burkina Faso (+X%) displayed positive paces of growth. Moreover, Guinea emerged as the fastest-growing importer imported in Western Africa, with a CAGR of +X% from 2012-2021. Ghana experienced a relatively flat trend pattern. By contrast, Liberia (-X%) illustrated a downward trend over the same period. Nigeria (+X p.p.), Senegal (+X p.p.), Guinea (+X p.p.) and Burkina Faso (+X p.p.) significantly strengthened its position in terms of the total imports, while Liberia saw its share reduced by -X% from 2012 to 2021, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Nigeria ($X) constitutes the largest market for imported breakfast cereals in Western Africa, comprising X% of total imports. The second position in the ranking was taken by Senegal ($X), with a X% share of total imports. It was followed by Burkina Faso, with a X% share.

From 2012 to 2021, the average annual growth rate of value in Nigeria totaled +X%. The remaining importing countries recorded the following average annual rates of imports growth: Senegal (+X% per year) and Burkina Faso (+X% per year).

Import Prices by Country

In 2021, the import price in Western Africa amounted to $X per ton, declining by -X% against the previous year. Over the period from 2012 to 2021, it increased at an average annual rate of +X%. The growth pace was the most rapid in 2014 an increase of X% against the previous year. As a result, import price reached the peak level of $X per ton. From 2015 to 2021, the import prices remained at a lower figure.

There were significant differences in the average prices amongst the major importing countries. In 2021, the country with the highest price was Guinea ($X per ton), while Burkina Faso ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Guinea (+X%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform

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