Western Africa: Frozen Crustaceans Market 2024

Frozen Crustaceans Market Size in Western Africa

In 2022, the West African frozen crustaceans market decreased by X% to $X, falling for the second consecutive year after six years of growth. In general, consumption, however, recorded a prominent increase. The level of consumption peaked at $X in 2020; however, from 2021 to 2022, consumption remained at a lower figure.

Frozen Crustaceans Production in Western Africa

In value terms, frozen crustaceans production expanded rapidly to $X in 2022 estimated in export price. The total production indicated a perceptible expansion from 2012 to 2022: its value increased at an average annual rate of X% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, production decreased by X% against 2020 indices. The most prominent rate of growth was recorded in 2020 with an increase of X%. As a result, production attained the peak level of $X. From 2021 to 2022, production growth failed to regain momentum.

Frozen Crustaceans Exports

Exports in Western Africa

In 2022, approx. X tons of frozen crustaceans were exported in Western Africa; picking up by X% compared with the previous year's figure. Over the period under review, exports, however, showed a deep downturn. The volume of export peaked at X tons in 2012; however, from 2013 to 2022, the exports remained at a lower figure.

In value terms, frozen crustaceans exports soared to $X in 2022. Overall, exports, however, recorded a noticeable decrease. The pace of growth appeared the most rapid in 2018 with an increase of X%. The level of export peaked at $X in 2012; however, from 2013 to 2022, the exports stood at a somewhat lower figure.

Exports by Country

Nigeria (X tons) and Senegal (X tons) dominates exports structure, together comprising X% of total exports. It was distantly followed by Mauritania (X tons), achieving a X% share of total exports. Gambia (X tons) held a little share of total exports.

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

In value terms, Nigeria ($X), Senegal ($X) and Mauritania ($X) constituted the countries with the highest levels of exports in 2022, together accounting for X% of total exports. Gambia lagged somewhat behind, comprising a further X%.

In terms of the main exporting countries, Gambia, with a CAGR of X%, saw the highest growth rate of the value of exports, 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, therefore, remained relatively stable against the previous year. Over the last decade, it increased at an average annual rate of X%. The most prominent rate of growth was recorded in 2018 an increase of X% against the previous year. Over the period under review, the export prices attained the maximum in 2022 and is expected to retain growth in the immediate term.

Average prices varied noticeably amongst the major exporting countries. In 2022, major exporting countries recorded the following prices: in Mauritania ($X per ton) and Senegal ($X per ton), while Gambia ($X per ton) and Nigeria ($X per ton) were amongst the lowest.

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

Frozen Crustaceans Imports

Imports in Western Africa

Frozen crustaceans imports contracted rapidly to X tons in 2022, with a decrease of X% compared with 2021. In general, imports, however, saw a relatively flat trend pattern. The pace of growth appeared the most rapid in 2013 with an increase of X% against the previous year. As a result, imports reached the peak of X tons. From 2014 to 2022, the growth of imports remained at a lower figure.

In value terms, frozen crustaceans imports contracted remarkably to $X in 2022. Overall, imports, however, enjoyed a pronounced expansion. The most prominent rate of growth was recorded in 2013 with an increase of X%. As a result, imports reached the peak of $X. From 2014 to 2022, the growth of imports remained at a somewhat lower figure.

Imports by Country

Cabo Verde (X tons) and Ghana (X tons) represented the major importers of frozen crustaceans in 2022, resulting at near X% and X% of total imports, respectively. It was distantly followed by Nigeria (X tons), Cote d'Ivoire (X tons) and Senegal (X tons), together making up a X% share of total imports. The following importers - Burkina Faso (X tons) and Liberia (X tons) - each finished at a X% share of total imports.

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

In value terms, Ghana ($X), Cabo Verde ($X) and Cote d'Ivoire ($X) were the countries with the highest levels of imports in 2022, with a combined X% share of total imports. Senegal, Nigeria, Liberia and Burkina Faso lagged somewhat behind, together accounting for a further X%.

Among the main importing countries, Burkina Faso, with a CAGR of X%, 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, jumping by X% against the previous year. Import price indicated measured growth from 2012 to 2022: its price increased at an average annual rate of X% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. The level of import peaked at $X per ton in 2014; however, from 2015 to 2022, 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 Liberia ($X per ton), while Nigeria ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Cote d'Ivoire (X%), while the other leaders experienced a decline in the import price figures.

Source: IndexBox Platform

Frequently Asked Questions (FAQ) :