Western Africa: Market for Condensed Or Evaporated Milk (Unsweetened) 2024

Market Size for Condensed Or Evaporated Milk (Unsweetened) in Western Africa

The West African market for condensed or evaporated milk (unsweetened) soared to $X in 2021, jumping by 17% against the previous year. Over the period under review, consumption saw a noticeable decrease. The level of consumption peaked at $X in 2014; however, from 2015 to 2021, consumption remained at a lower figure.

Production of Condensed Or Evaporated Milk (Unsweetened) in Western Africa

In value terms, unsweetened condensed and evaporated milk production contracted slightly to $X in 2021 estimated in export price. Overall, production, however, enjoyed a strong expansion. The pace of growth was the most pronounced in 2015 with an increase of 238%. As a result, production attained the peak level of $X. From 2016 to 2021, production growth remained at a lower figure.

Exports of Condensed Or Evaporated Milk (Unsweetened)

Exports in Western Africa

In 2021, after three years of growth, there was significant decline in shipments abroad of condensed or evaporated milk (unsweetened), when their volume decreased by -66% to X tons. In general, exports, however, saw a temperate increase. The most prominent rate of growth was recorded in 2018 with an increase of 97% against the previous year. The volume of export peaked at X tons in 2020, and then shrank dramatically in the following year.

In value terms, unsweetened condensed and evaporated milk exports dropped significantly to $X in 2021. Over the period under review, exports, however, showed a pronounced expansion. The most prominent rate of growth was recorded in 2018 with an increase of 73% against the previous year. Over the period under review, the exports attained the maximum at $X in 2020, and then fell dramatically in the following year.

Exports by Country

Ghana prevails in exports structure, reaching X tons, which was near 93% of total exports in 2021. It was distantly followed by Togo (X tons), generating a 5.7% share of total exports.

Exports from Ghana increased at an average annual rate of +6.1% from 2012 to 2021. At the same time, Togo (+6.2%) displayed positive paces of growth. Moreover, Togo emerged as the fastest-growing exporter exported in Western Africa, with a CAGR of +6.2% from 2012-2021. From 2012 to 2021, the share of Ghana and Togo increased by +25 and +1.6 percentage points, while the shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Ghana ($X) remains the largest unsweetened condensed and evaporated milk supplier in Western Africa, comprising 97% of total exports. The second position in the ranking was taken by Togo ($X), with a 2.1% share of total exports.

From 2012 to 2021, the average annual rate of growth in terms of value in Ghana amounted to +6.3%.

Export Prices by Country

In 2021, the export price in Western Africa amounted to $X per ton, with an increase of 35% against the previous year. In general, the export price saw a relatively flat trend pattern. The level of export peaked at $X per ton in 2014; however, from 2015 to 2021, the export prices failed to regain momentum.

There were significant differences in the average prices amongst the major exporting countries. In 2021, amid the top suppliers, the country with the highest price was Ghana ($X per ton), while Togo amounted to $X per ton.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Togo (+4.8%).

Imports of Condensed Or Evaporated Milk (Unsweetened)

Imports in Western Africa

In 2021, the amount of condensed or evaporated milk (unsweetened) imported in Western Africa contracted to X tons, waning by -11.8% compared with the previous year's figure. In general, imports saw a perceptible shrinkage. The most prominent rate of growth was recorded in 2017 with an increase of 83%. Over the period under review, imports hit record highs at X tons in 2014; however, from 2015 to 2021, imports stood at a somewhat lower figure.

In value terms, unsweetened condensed and evaporated milk imports soared to $X in 2021. Over the period under review, imports recorded a noticeable setback. The pace of growth was the most pronounced in 2017 when imports increased by 69% against the previous year. The level of import peaked at $X in 2014; however, from 2015 to 2021, imports remained at a lower figure.

Imports by Country

Ghana (X tons) and Mauritania (X tons) were the major importers of condensed or evaporated milk (unsweetened) in 2021, accounting for near 22% and 19% of total imports, respectively. It was distantly followed by Gambia (X tons), Cote d'Ivoire (X tons), Benin (X tons), Togo (X tons), Burkina Faso (X tons), Senegal (X tons), Sierra Leone (X tons) and Guinea (X tons), together achieving a 54% share of total imports.

From 2012 to 2021, the most notable rate of growth in terms of purchases, amongst the main importing countries, was attained by Guinea (with a CAGR of +28.9%), while imports for the other leaders experienced more modest paces of growth.

In value terms, Ghana ($X), Mauritania ($X) and Cote d'Ivoire ($X) appeared to be the countries with the highest levels of imports in 2021, together comprising 47% of total imports. These countries were followed by Burkina Faso, Gambia, Senegal, Sierra Leone, Guinea, Benin and Togo, which together accounted for a further 49%.

Among the main importing countries, Guinea, with a CAGR of +31.6%, 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 import price in Western Africa stood at $X per ton in 2021, increasing by 32% against the previous year. Over the period under review, the import price, however, showed a slight setback. The level of import peaked at $X per ton in 2012; however, from 2013 to 2021, import prices remained at a lower figure.

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

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Burkina Faso (+3.1%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform

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