Western Africa: Market for Caviar (Salmon) And Caviar Substitutes 2024

Market Size for Caviar (Salmon) And Caviar Substitutes in Western Africa

The West African market for caviar (salmon) and caviar substitutes was estimated at $X in 2021, remaining stable against the previous year. The market value increased at an average annual rate of +1.3% from 2012 to 2021; the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The level of consumption peaked at $X in 2015; however, from 2016 to 2021, consumption stood at a somewhat lower figure.

Production of Caviar (Salmon) And Caviar Substitutes in Western Africa

In value terms, caviar (salmon) and caviar substitutes production totaled $X in 2021 estimated in export price. The total output value increased at an average annual rate of +1.4% from 2012 to 2021; the trend pattern indicated some noticeable fluctuations being recorded in certain years. The most prominent rate of growth was recorded in 2014 with an increase of 28% against the previous year. Over the period under review, production reached the peak level at $X in 2015; however, from 2016 to 2021, production failed to regain momentum.

Exports of Caviar (Salmon) And Caviar Substitutes

Exports in Western Africa

In 2021, the amount of caviar (salmon) and caviar substitutes exported in Western Africa skyrocketed to X kg, picking up by 311% against 2020 figures. Over the period under review, exports, however, recorded a abrupt contraction. The most prominent rate of growth was recorded in 2019 when exports increased by 13,761% against the previous year. As a result, the exports attained the peak of X tons. From 2020 to 2021, the growth of the exports remained at a somewhat lower figure.

In value terms, caviar (salmon) and caviar substitutes exports surged to $X in 2021. Overall, exports saw a relatively flat trend pattern. The most prominent rate of growth was recorded in 2019 when exports increased by 3,369%. As a result, the exports reached the peak of $X. From 2020 to 2021, the growth of the exports failed to regain momentum.

Exports by Country

Guinea dominates exports structure, accounting for X kg, which was approx. 98% of total exports in 2021. Mauritania (X kg) followed a long way behind the leaders.

Guinea was also the fastest-growing in terms of the caviar (salmon) and caviar substitutes exports, with a CAGR of +347.6% from 2012 to 2021. Mauritania (-41.2%) illustrated a downward trend over the same period. While the share of Guinea (+98 p.p.) increased significantly in terms of the total exports from 2012-2021, the share of Mauritania (-98 p.p.) displayed negative dynamics.

In value terms, Guinea ($X) remains the largest caviar (salmon) and caviar substitutes supplier in Western Africa, comprising 99% of total exports. The second position in the ranking was taken by Mauritania ($X), with a 1.2% share of total exports.

In Guinea, caviar (salmon) and caviar substitutes exports expanded at an average annual rate of +330.8% over the period from 2012-2021.

Export Prices by Country

In 2021, the export price in Western Africa amounted to $X per ton, approximately equating the previous year. Over the period under review, the export price, however, saw a resilient expansion. The pace of growth appeared the most rapid in 2020 an increase of 512%. Over the period under review, the export prices hit record highs at $X per ton in 2017; however, from 2018 to 2021, the export prices remained at a lower figure.

There were significant differences in the average prices amongst the major exporting countries. In 2021, the country with the highest price was Guinea ($X per ton), while Mauritania stood at $X per ton.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Mauritania (+4.9%).

Imports of Caviar (Salmon) And Caviar Substitutes

Imports in Western Africa

In 2021, caviar (salmon) and caviar substitutes imports in Western Africa expanded sharply to X tons, picking up by 12% compared with 2020. Over the period under review, imports, however, recorded a pronounced contraction. The pace of growth was the most pronounced in 2016 with an increase of 44% against the previous year. As a result, imports reached the peak of X tons. From 2017 to 2021, the growth of imports remained at a somewhat lower figure.

In value terms, caviar (salmon) and caviar substitutes imports soared to $X in 2021. In general, imports, however, showed a abrupt decrease. The growth pace was the most rapid in 2016 with an increase of 72%. Over the period under review, imports hit record highs at $X in 2012; however, from 2013 to 2021, imports remained at a lower figure.

Imports by Country

The purchases of the three major importers of caviar (salmon) and caviar substitutes, namely Saint Helena, Ascension and Tristan da Cunha, Senegal and Cote d'Ivoire, represented more than two-thirds of total import. Sierra Leone (X kg), Mali (X kg), Cabo Verde (X kg) and Benin (X kg) followed a long way behind the leaders.

From 2012 to 2021, the most notable rate of growth in terms of purchases, amongst the key importing countries, was attained by Senegal (with a CAGR of +41.5%), while imports for the other leaders experienced more modest paces of growth.

In value terms, Cote d'Ivoire ($X), Senegal ($X) and Sierra Leone ($X) were the countries with the highest levels of imports in 2021, with a combined 74% share of total imports.

Sierra Leone, with a CAGR of +36.0%, saw the highest growth rate of the value of imports, among the main importing countries over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

In 2021, the import price in Western Africa amounted to $X per ton, growing by 26% against the previous year. Over the period under review, the import price, however, continues to indicate a relatively flat trend pattern. The most prominent rate of growth was recorded in 2019 an increase of 43%. As a result, import price attained the peak level of $X per ton. From 2020 to 2021, the import prices remained at a somewhat lower figure.

There were significant differences in the average prices amongst the major importing countries. In 2021, the country with the highest price was Sierra Leone ($X per ton), while Saint Helena, Ascension and Tristan da Cunha ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Mali (+5.6%), while the other leaders experienced mixed trends in the import price figures.

Source: IndexBox Platform

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