Western Africa: Market for Evaporated And Condensed Milk 2024

Market Size for Evaporated And Condensed Milk in Western Africa

The West African evaporated and condensed milk market reduced to $X in 2022, remaining relatively unchanged against the previous year. Overall, consumption, however, continues to indicate a slight downturn. Over the period under review, the market reached the peak level at $X in 2014; however, from 2015 to 2022, consumption remained at a lower figure.

Production of Evaporated And Condensed Milk in Western Africa

In value terms, evaporated and condensed milk production stood at $X in 2022 estimated in export price. In general, production recorded a relatively flat trend pattern. The pace of growth appeared the most rapid in 2016 when the production volume increased by 62%. As a result, production reached the peak level of $X. From 2017 to 2022, production growth remained at a lower figure.

Togo (X tons) constituted the country with the largest volume of evaporated and condensed milk production, accounting for 99.9% of total volume.

From 2012 to 2022, the average annual rate of growth in terms of volume in Togo stood at +7.2%.

Exports of Evaporated And Condensed Milk

Exports in Western Africa

Evaporated and condensed milk exports skyrocketed to X tons in 2022, rising by 31% compared with the previous year's figure. Overall, exports showed buoyant growth. The most prominent rate of growth was recorded in 2014 when exports increased by 60% against the previous year. The volume of export peaked in 2022 and is likely to see gradual growth in the near future.

In value terms, evaporated and condensed milk exports skyrocketed to $X in 2022. Total exports indicated a prominent expansion from 2012 to 2022: its value increased at an average annual rate of +7.3% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. The most prominent rate of growth was recorded in 2014 with an increase of 68% against the previous year. Over the period under review, the exports reached the peak figure at $X in 2016; however, from 2017 to 2022, the exports failed to regain momentum.

Exports by Country

Togo dominates exports structure, recording X tons, which was near 87% of total exports in 2022. It was distantly followed by Ghana (X tons), making up a 9.1% share of total exports. Senegal (X tons) took a little share of total exports.

Exports from Togo increased at an average annual rate of +15.0% from 2012 to 2022. At the same time, Senegal (+42.8%) and Ghana (+7.8%) displayed positive paces of growth. Moreover, Senegal emerged as the fastest-growing exporter exported in Western Africa, with a CAGR of +42.8% from 2012-2022. While the share of Togo (+28 p.p.) and Senegal (+1.9 p.p.) increased significantly in terms of the total exports from 2012-2022, the share of Ghana (-2.7 p.p.) displayed negative dynamics.

In value terms, Togo ($X) remains the largest evaporated and condensed milk supplier in Western Africa, comprising 67% of total exports. The second position in the ranking was held by Ghana ($X), with a 26% share of total exports.

From 2012 to 2022, the average annual growth rate of value in Togo totaled +12.9%. In the other countries, the average annual rates were as follows: Ghana (+8.3% per year) and Senegal (+43.7% per year).

Export Prices by Country

The export price in Western Africa stood at $X per ton in 2022, which is down by -4.4% against the previous year. Overall, the export price recorded a pronounced curtailment. The pace of growth appeared the most rapid in 2016 an increase of 16%. The level of export peaked at $X per ton in 2014; however, from 2015 to 2022, the export prices failed to regain momentum.

There were significant differences in the average prices amongst the major exporting countries. In 2022, amid the top suppliers, the country with the highest price was Ghana ($X per ton), while Togo ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Senegal (+0.7%), while the other leaders experienced mixed trends in the export price figures.

Imports of Evaporated And Condensed Milk

Imports in Western Africa

In 2022, evaporated and condensed milk imports in Western Africa rose modestly to X tons, growing by 2.2% on the previous year. Over the period under review, imports showed a relatively flat trend pattern. The pace of growth was the most pronounced in 2017 when imports increased by 46%. The volume of import peaked at X tons in 2014; however, from 2015 to 2022, imports remained at a lower figure.

In value terms, evaporated and condensed milk imports dropped to $X in 2022. Overall, imports, however, showed a mild shrinkage. The most prominent rate of growth was recorded in 2019 with an increase of 52% against the previous year. Over the period under review, imports attained the peak figure at $X in 2014; however, from 2015 to 2022, imports remained at a lower figure.

Imports by Country

The purchases of the seven major importers of evaporated and condensed milk, namely Burkina Faso, Togo, Ghana, Cote d'Ivoire, Mauritania, Gambia and Nigeria, represented more than two-thirds of total import.

From 2012 to 2022, the biggest increases were recorded for Burkina Faso (with a CAGR of +17.7%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, Ghana ($X), Burkina Faso ($X) and Cote d'Ivoire ($X) appeared to be the countries with the highest levels of imports in 2022, together accounting for 43% of total imports.

In terms of the main importing countries, Burkina Faso, with a CAGR of +18.8%, 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 2022, declining by -7.9% against the previous year. In general, the import price continues to indicate a perceptible slump. The most prominent rate of growth was recorded in 2014 when the import price increased by 9.9% against the previous year. As a result, import price reached the peak level of $X per ton. From 2015 to 2022, the import prices failed to regain momentum.

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 Ghana ($X per ton), while Togo ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Ghana (+3.0%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform

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