Western Africa: Market for Crispbread, Rusks and Toasted Bread 2024

Market Size for Crispbread, Rusks and Toasted Bread in Western Africa

The West African market for crispbread, rusks and toasted bread stood at $X in 2022, stabilizing at the previous year. The market value increased at an average annual rate of +4.2% over the period from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The level of consumption peaked at $X in 2020; however, from 2021 to 2022, consumption stood at a somewhat lower figure.

Production of Crispbread, Rusks and Toasted Bread in Western Africa

In value terms, crispbread, rusk and toasted bread production fell to $X in 2022 estimated in export price. The total output value increased at an average annual rate of +4.5% from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The most prominent rate of growth was recorded in 2013 when the production volume increased by 13%. The level of production peaked at $X in 2019; however, from 2020 to 2022, production failed to regain momentum.

Exports of Crispbread, Rusks and Toasted Bread

Exports in Western Africa

In 2022, after two years of growth, there was significant decline in overseas shipments of crispbread, rusks and toasted bread, when their volume decreased by -13.8% to X tons. Overall, exports faced a drastic downturn. The growth pace was the most rapid in 2020 with an increase of 123% against the previous year. The volume of export peaked at X tons in 2012; however, from 2013 to 2022, the exports failed to regain momentum.

In value terms, crispbread, rusk and toasted bread exports dropped sharply to $X in 2022. In general, exports recorded a deep setback. The most prominent rate of growth was recorded in 2021 when exports increased by 77%. The level of export peaked at $X in 2012; however, from 2013 to 2022, the exports remained at a lower figure.

Exports by Country

Ghana represented the key exporter of crispbread, rusks and toasted bread in Western Africa, with the volume of exports amounting to X tons, which was approx. 45% of total exports in 2022. Cote d'Ivoire (X tons) took a 24% share (based on physical terms) of total exports, which put it in second place, followed by Togo (21%) and Nigeria (8%).

From 2012 to 2022, the biggest increases were recorded for Togo (with a CAGR of +54.2%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, the largest crispbread, rusk and toasted bread supplying countries in Western Africa were Cote d'Ivoire ($X), Ghana ($X) and Nigeria ($X), together accounting for 91% of total exports. Togo lagged somewhat behind, accounting for a further 6.5%.

Togo, with a CAGR of +32.7%, saw the highest growth rate of the value of exports, among the main exporting countries over the period under review, while shipments for the other leaders experienced mixed trends in the exports figures.

Export Prices by Country

The export price in Western Africa stood at $X per ton in 2022, falling by -11.9% against the previous year. Over the period under review, the export price, however, continues to indicate a resilient increase. The most prominent rate of growth was recorded in 2013 an increase of 194%. Over the period under review, the export prices reached the peak figure at $X per ton in 2014; however, from 2015 to 2022, the export prices stood at a somewhat lower figure.

Prices varied noticeably by country of origin: amid the top suppliers, the country with the highest price was Cote d'Ivoire ($X per ton), while Togo ($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 (+13.6%), while the other leaders experienced a decline in the export price figures.

Imports of Crispbread, Rusks and Toasted Bread

Imports in Western Africa

Crispbread, rusk and toasted bread imports skyrocketed to X tons in 2022, increasing by 17% on 2021 figures. Overall, imports recorded a buoyant increase. The most prominent rate of growth was recorded in 2013 with an increase of 126% against the previous year. Over the period under review, imports attained the peak figure at X tons in 2020; however, from 2021 to 2022, imports failed to regain momentum.

In value terms, crispbread, rusk and toasted bread imports rose sharply to $X in 2022. Over the period under review, imports continue to indicate a prominent expansion. The pace of growth was the most pronounced in 2013 when imports increased by 89%. Over the period under review, imports attained the peak figure at $X in 2020; however, from 2021 to 2022, imports stood at a somewhat lower figure.

Imports by Country

Cote d'Ivoire was the main importer of crispbread, rusks and toasted bread in Western Africa, with the volume of imports amounting to X tons, which was near 46% of total imports in 2022. Burkina Faso (X tons) held the second position in the ranking, distantly followed by Ghana (X tons), Togo (X tons) and Nigeria (X tons). All these countries together took approx. 38% share of total imports. The following importers - Senegal (X tons) and Niger (X tons) - each finished at a 6.3% share of total imports.

From 2012 to 2022, average annual rates of growth with regard to crispbread, rusk and toasted bread imports into Cote d'Ivoire stood at +32.3%. At the same time, Burkina Faso (+34.7%), Niger (+31.9%), Togo (+24.4%), Nigeria (+20.1%) and Senegal (+15.6%) displayed positive paces of growth. Moreover, Burkina Faso emerged as the fastest-growing importer imported in Western Africa, with a CAGR of +34.7% from 2012-2022. Ghana experienced a relatively flat trend pattern. From 2012 to 2022, the share of Cote d'Ivoire, Burkina Faso, Togo and Niger increased by +32, +14, +2.8 and +2.1 percentage points, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Cote d'Ivoire ($X) constitutes the largest market for imported crispbread, rusks and toasted bread in Western Africa, comprising 53% of total imports. The second position in the ranking was taken by Ghana ($X), with an 11% share of total imports. It was followed by Senegal, with a 7.2% share.

From 2012 to 2022, the average annual growth rate of value in Cote d'Ivoire stood at +27.4%. In the other countries, the average annual rates were as follows: Ghana (-1.8% per year) and Senegal (+27.7% per year).

Import Prices by Country

The import price in Western Africa stood at $X per ton in 2022, waning by -5.9% against the previous year. Over the period under review, the import price recorded a noticeable shrinkage. The growth pace was the most rapid in 2019 an increase of 19%. The level of import peaked at $X per ton in 2012; however, from 2013 to 2022, import prices remained at a lower figure.

There were significant differences in the average prices amongst the major importing countries. In 2022, amid the top importers, the country with the highest price was Senegal ($X per ton), while Burkina Faso ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Senegal (+10.5%), while the other leaders experienced a decline in the import price figures.

Source: IndexBox Platform

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