Western Africa: Coffee Extract Market 2024

Coffee Extract Market Size in Western Africa

After two years of decline, the West African coffee extract market increased by 5.1% to $X in 2021. The market value increased at an average annual rate of +1.3% over the period from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The level of consumption peaked at $X in 2018; however, from 2019 to 2021, consumption remained at a lower figure.

Coffee Extract Production in Western Africa

In value terms, coffee extract production expanded notably to $X in 2021 estimated in export price. Over the period under review, production saw a mild increase. The most prominent rate of growth was recorded in 2016 when the production volume increased by 23% against the previous year. Over the period under review, production reached the maximum level at $X in 2018; however, from 2019 to 2021, production stood at a somewhat lower figure.

Coffee Extract Exports

Exports in Western Africa

For the fifth consecutive year, Western Africa recorded growth in overseas shipments of coffee extracts, essences and concentrates, which increased by 8% to X tons in 2021. Total exports indicated a prominent expansion from 2012 to 2021: its volume increased at an average annual rate of +6.1% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, exports increased by +110.8% against 2016 indices. The growth pace was the most rapid in 2017 with an increase of 50% against the previous year. The volume of export peaked in 2021 and is expected to retain growth in the near future.

In value terms, coffee extract exports dropped to $X in 2021. Overall, exports, however, continue to indicate a noticeable reduction. The pace of growth appeared the most rapid in 2014 with an increase of 18% against the previous year. The level of export peaked at $X in 2015; however, from 2016 to 2021, the exports stood at a somewhat lower figure.

Exports by Country

Ghana represented the key exporter of coffee extracts, essences and concentrates in Western Africa, with the volume of exports resulting at X tons, which was approx. 59% of total exports in 2021. It was distantly followed by Cote d'Ivoire (X tons), constituting a 36% share of total exports. Burkina Faso (X tons) took a little share of total exports.

From 2012 to 2021, the most notable rate of growth in terms of shipments, amongst the key exporting countries, was attained by Burkina Faso (with a CAGR of +54.4%), while the other leaders experienced mixed trends in the exports figures.

In value terms, Cote d'Ivoire ($X) remains the largest coffee extract supplier in Western Africa, comprising 90% of total exports. The second position in the ranking was held by Ghana ($X), with a 6.1% share of total exports.

From 2012 to 2021, the average annual rate of growth in terms of value in Cote d'Ivoire stood at -2.2%. The remaining exporting countries recorded the following average annual rates of exports growth: Ghana (-7.7% per year) and Burkina Faso (+27.9% per year).

Export Prices by Country

The export price in Western Africa stood at $X per ton in 2021, reducing by -16.4% against the previous year. Overall, the export price recorded a abrupt descent. The pace of growth appeared the most rapid in 2013 an increase of 6.9% against the previous year. Over the period under review, the export prices reached the maximum at $X per ton in 2014; however, from 2015 to 2021, the export prices remained at a lower figure.

Prices varied noticeably by country of origin: amid the top suppliers, the country with the highest price was Cote d'Ivoire ($X per ton), while Ghana ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Cote d'Ivoire (+0.5%), while the other leaders experienced a decline in the export price figures.

Coffee Extract Imports

Imports in Western Africa

In 2021, after three years of growth, there was significant decline in overseas purchases of coffee extracts, essences and concentrates, when their volume decreased by -27.2% to X tons. Total imports indicated temperate growth from 2012 to 2021: its volume increased at an average annual rate of +4.8% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. The pace of growth appeared the most rapid in 2020 with an increase of 33%. As a result, imports reached the peak of X tons, and then declined dramatically in the following year.

In value terms, coffee extract imports fell remarkably to $X in 2021. Total imports indicated noticeable growth from 2012 to 2021: its value increased at an average annual rate of +4.5% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. The most prominent rate of growth was recorded in 2015 when imports increased by 37%. The level of import peaked at $X in 2020, and then shrank significantly in the following year.

Imports by Country

The countries with the highest levels of coffee extract imports in 2021 were Nigeria (X tons), Senegal (X tons) and Burkina Faso (X tons), together resulting at 70% of total import. Ghana (X tons) ranks next in terms of the total imports with a 6.3% share, followed by Benin (5.6%) and Mauritania (5%). Mali (X tons) took a relatively small share of total imports.

From 2012 to 2021, the most notable rate of growth in terms of purchases, amongst the key importing countries, was attained by Benin (with a CAGR of +20.1%), while imports for the other leaders experienced more modest paces of growth.

In value terms, the largest coffee extract importing markets in Western Africa were Senegal ($X), Burkina Faso ($X) and Nigeria ($X), with a combined 67% share of total imports. These countries were followed by Mauritania, Benin, Ghana and Mali, which together accounted for a further 24%.

Among the main importing countries, Benin, with a CAGR of +20.1%, 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

In 2021, the import price in Western Africa amounted to $X per ton, surging by 13% against the previous year. Over the period under review, the import price, however, continues to indicate a relatively flat trend pattern. The pace of growth appeared the most rapid in 2013 an increase of 20% against the previous year. The level of import peaked at $X per ton in 2015; however, from 2016 to 2021, import prices failed to regain momentum.

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

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Nigeria (+1.6%), while the other leaders experienced a decline in the import price figures.

Source: IndexBox Platform

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