Western Africa: Egg Product Market 2024

Egg Product Market Size in Western Africa

In 2021, the West African egg product market decreased by -9.3% to $X for the first time since 2018, thus ending a two-year rising trend. The total consumption indicated slight growth from 2012 to 2021: its value increased at an average annual rate of +1.1% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, consumption increased by +64.1% against 2015 indices. Over the period under review, the market reached the peak level at $X in 2020, and then shrank in the following year.

Egg Product Production in Western Africa

In value terms, egg product production declined to $X in 2021 estimated in export price. Over the period under review, production, however, continues to indicate a relatively flat trend pattern. The pace of growth appeared the most rapid in 2020 when the production volume increased by 21%. As a result, production attained the peak level of $X, and then reduced in the following year.

Egg Product Exports

Exports in Western Africa

In 2021, shipments abroad of egg products increased by 85% to X tons for the first time since 2018, thus ending a two-year declining trend. Overall, exports enjoyed a strong expansion. The most prominent rate of growth was recorded in 2016 with an increase of 220% against the previous year. As a result, the exports reached the peak of X tons. From 2017 to 2021, the growth of the exports failed to regain momentum.

In value terms, egg product exports surged to $X in 2021. Over the period under review, exports continue to indicate prominent growth. The growth pace was the most rapid in 2016 when exports increased by 121%. Over the period under review, the exports attained the peak figure at $X in 2018; however, from 2019 to 2021, the exports remained at a lower figure.

Exports by Country

Senegal prevails in exports structure, resulting at X tons, which was approx. 95% of total exports in 2021. Ghana (X kg) held a minor share of total exports.

Senegal was also the fastest-growing in terms of the egg products exports, with a CAGR of +10.8% from 2012 to 2021. Ghana (-9.2%) illustrated a downward trend over the same period. Senegal (+25 p.p.) significantly strengthened its position in terms of the total exports, while Ghana saw its share reduced by -11.1% from 2012 to 2021, respectively.

In value terms, Senegal ($X) remains the largest egg product supplier in Western Africa, comprising 97% of total exports. The second position in the ranking was taken by Ghana ($X), with a 1.9% share of total exports.

From 2012 to 2021, the average annual growth rate of value in Senegal amounted to +12.5%.

Export Prices by Country

In 2021, the export price in Western Africa amounted to $X per ton, increasing by 6.4% against the previous year. Export price indicated modest growth from 2012 to 2021: its price increased at an average annual rate of +1.1% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, egg product export price decreased by -19.7% against 2018 indices. The pace of growth appeared the most rapid in 2017 when the export price increased by 106%. The level of export peaked at $X per ton in 2018; however, from 2019 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 Senegal ($X per ton), while Ghana amounted to $X per ton.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Senegal (+1.5%).

Egg Product Imports

Imports in Western Africa

In 2021, overseas purchases of egg products decreased by -14.8% to X tons, falling for the fourth consecutive year after four years of growth. Over the period under review, imports, however, enjoyed a buoyant increase. The growth pace was the most rapid in 2015 when imports increased by 190% against the previous year. The volume of import peaked at X tons in 2017; however, from 2018 to 2021, imports stood at a somewhat lower figure.

In value terms, egg product imports soared to $X in 2021. In general, imports, however, posted a significant expansion. The growth pace was the most rapid in 2017 when imports increased by 94% against the previous year. Over the period under review, imports reached the maximum in 2021 and are likely to continue growth in years to come.

Imports by Country

Mauritania was the largest importing country with an import of around X tons, which amounted to 49% of total imports. Nigeria (X tons) held a 20% share (based on physical terms) of total imports, which put it in second place, followed by Senegal (14%) and Cote d'Ivoire (11%). Ghana (X tons) held a little share of total imports.

From 2012 to 2021, average annual rates of growth with regard to egg product imports into Mauritania stood at +19.8%. At the same time, Senegal (+39.4%), Nigeria (+28.7%), Cote d'Ivoire (+15.9%) and Ghana (+15.5%) displayed positive paces of growth. Moreover, Senegal emerged as the fastest-growing importer imported in Western Africa, with a CAGR of +39.4% from 2012-2021. Mauritania (+14 p.p.), Nigeria (+13 p.p.) and Senegal (+11 p.p.) significantly strengthened its position in terms of the total imports, while the shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, the largest egg product importing markets in Western Africa were Nigeria ($X), Senegal ($X) and Cote d'Ivoire ($X), with a combined 86% share of total imports.

In terms of the main importing countries, Senegal, with a CAGR of +42.3%, recorded 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

In 2021, the import price in Western Africa amounted to $X per ton, jumping by 42% against the previous year. Overall, the import price showed a buoyant expansion. The pace of growth was the most pronounced in 2017 an increase of 83% against the previous year. Over the period under review, import prices attained the maximum in 2021 and is expected to retain growth in years to come.

There were significant differences in the average prices amongst the major importing countries. In 2021, the country with the highest price was Cote d'Ivoire ($X per ton), while Mauritania ($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 (+2.1%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform

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