Western Africa: Fish Parts Market 2024

Fish Parts Market Size in Western Africa

In 2022, the West African fish parts market decreased by -16.3% to $X for the first time since 2019, thus ending a two-year rising trend. Overall, consumption, however, saw a prominent increase. Over the period under review, the market attained the peak level at $X in 2021, and then dropped markedly in the following year.

Fish Parts Production in Western Africa

In value terms, fish parts production totaled $X in 2022 estimated in export price. In general, production, however, showed a mild decline. The pace of growth appeared the most rapid in 2017 when the production volume increased by 18% against the previous year. The level of production peaked at $X in 2013; however, from 2014 to 2022, production stood at a somewhat lower figure.

Fish Parts Exports

Exports in Western Africa

In 2022, overseas shipments of fish heads, tails and maws increased by 120% to X tons for the first time since 2019, thus ending a two-year declining trend. Over the period under review, exports posted a strong increase. As a result, the exports reached the peak and are likely to continue growth in the immediate term.

In value terms, fish parts exports surged to $X in 2022. Overall, exports, however, showed a slight decline. The level of export peaked at $X in 2015; however, from 2016 to 2022, the exports stood at a somewhat lower figure.

Exports by Country

Senegal dominates exports structure, recording X tons, which was approx. 72% of total exports in 2022. It was distantly followed by Guinea (X tons), committing a 7.1% share of total exports. Mauritania (X tons), Sierra Leone (X tons), Togo (X tons), Nigeria (X tons), Ghana (X tons) and Liberia (X tons) followed a long way behind the leaders.

Senegal was also the fastest-growing in terms of the fish heads, tails and maws exports, with a CAGR of +48.3% from 2012 to 2022. At the same time, Liberia (+26.9%), Sierra Leone (+16.3%) and Nigeria (+12.8%) displayed positive paces of growth. Ghana experienced a relatively flat trend pattern. By contrast, Mauritania (-1.8%), Guinea (-4.9%) and Togo (-12.5%) illustrated a downward trend over the same period. From 2012 to 2022, the share of Senegal and Sierra Leone increased by +72 and +1.8 percentage points, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Senegal ($X), Togo ($X) and Nigeria ($X) appeared to be the countries with the highest levels of exports in 2022, together comprising 67% of total exports.

Senegal, with a CAGR of +57.5%, recorded the highest growth rate of the value of exports, in terms of the main exporting countries over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

The export price in Western Africa stood at $X per ton in 2022, waning by -24.5% against the previous year. Over the period under review, the export price continues to indicate a abrupt downturn. The pace of growth was the most pronounced in 2018 an increase of 46% against the previous year. The level of export peaked at $X per ton in 2014; however, from 2015 to 2022, the export prices remained at a lower figure.

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 Togo ($X per ton), while Senegal ($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 more modest paces of growth.

Fish Parts Imports

Imports in Western Africa

After ten years of growth, supplies from abroad of fish heads, tails and maws decreased by -19.8% to X tons in 2022. Over the period under review, imports, however, showed a significant expansion. The pace of growth was the most pronounced in 2015 when imports increased by 8,881%. Over the period under review, imports attained the peak figure at X tons in 2021, and then shrank significantly in the following year.

In value terms, fish parts imports contracted markedly to $X in 2022. In general, imports, however, saw a significant increase. The most prominent rate of growth was recorded in 2015 with an increase of 35,718%. Over the period under review, imports attained the maximum at $X in 2016; however, from 2017 to 2022, imports stood at a somewhat lower figure.

Imports by Country

Nigeria prevails in imports structure, finishing at X tons, which was approx. 96% of total imports in 2022. Benin (X tons) followed a long way behind the leaders.

From 2012 to 2022, average annual rates of growth with regard to fish parts imports into Nigeria stood at +32.6%. At the same time, Benin (+55.8%) displayed positive paces of growth. Moreover, Benin emerged as the fastest-growing importer imported in Western Africa, with a CAGR of +55.8% from 2012-2022. From 2012 to 2022, the share of Nigeria increased by +96 percentage points.

In value terms, Nigeria ($X) constitutes the largest market for imported fish heads, tails and maws in Western Africa, comprising 98% of total imports. The second position in the ranking was held by Benin ($X), with a 2.3% share of total imports.

In Nigeria, fish parts imports expanded at an average annual rate of +6.7% over the period from 2012-2022.

Import Prices by Country

The import price in Western Africa stood at $X per ton in 2022, declining by -10.4% against the previous year. Overall, the import price continues to indicate a relatively flat trend pattern. The growth pace was the most rapid in 2015 when the import price increased by 299% against the previous year. As a result, import price attained the peak level of $X per ton. From 2016 to 2022, the import prices remained at a somewhat lower figure.

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

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Benin (-4.9%).

Source: IndexBox Platform

Frequently Asked Questions (FAQ) :