Western Africa: Frozen Fish Fillet Market 2024

Frozen Fish Fillet Market Size in Western Africa

The West African frozen fish fillet market was estimated at $X in 2022, increasing by 12% against the previous year. In general, consumption, however, showed a slight decline. Over the period under review, the market reached the maximum level at $X in 2014; however, from 2015 to 2022, consumption remained at a lower figure.

Frozen Fish Fillet Production in Western Africa

In value terms, frozen fish fillet production fell modestly to $X in 2022 estimated in export price. In general, production, however, continues to indicate a noticeable contraction. The growth pace was the most rapid in 2014 with an increase of 14% against the previous year. The level of production peaked at $X in 2012; however, from 2013 to 2022, production failed to regain momentum.

Frozen Fish Fillet Exports

Exports in Western Africa

In 2022, frozen fish fillet exports in Western Africa soared to X tons, growing by 46% compared with the previous year's figure. In general, exports saw a resilient expansion. The most prominent rate of growth was recorded in 2019 with an increase of 63% against the previous year. Over the period under review, the exports attained the peak figure in 2022 and are expected to retain growth in years to come.

In value terms, frozen fish fillet exports soared to $X in 2022. Over the period under review, exports showed resilient growth. The most prominent rate of growth was recorded in 2019 when exports increased by 60% against the previous year. Over the period under review, the exports hit record highs in 2022 and are likely to continue growth in the immediate term.

Exports by Country

Ghana (X tons) and Senegal (X tons) dominates exports structure, together achieving 89% of total exports. It was distantly followed by Mauritania (X tons), comprising a 4.7% share of total exports. Gambia (X tons) and Nigeria (X tons) followed a long way behind the leaders.

From 2012 to 2022, the most notable rate of growth in terms of shipments, amongst the main exporting countries, was attained by Ghana (with a CAGR of +18.4%), while the other leaders experienced more modest paces of growth.

In value terms, the largest frozen fish fillet supplying countries in Western Africa were Ghana ($X), Senegal ($X) and Mauritania ($X), together comprising 95% of total exports.

Among the main exporting countries, Ghana, with a CAGR of +13.7%, recorded the highest growth rate of the value of exports, 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, almost unchanged from the previous year. Over the period under review, the export price continues to indicate a slight curtailment. The growth pace was the most rapid in 2017 when the export price increased by 24% against the previous year. Over the period under review, the export prices attained the peak figure at $X per ton in 2012; however, from 2013 to 2022, the export prices stood at a somewhat lower figure.

Average prices varied somewhat amongst the major exporting countries. In 2022, major exporting countries recorded the following prices: in Senegal ($X per ton) and Ghana ($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 (+0.8%), while the other leaders experienced a decline in the export price figures.

Frozen Fish Fillet Imports

Imports in Western Africa

Frozen fish fillet imports amounted to X tons in 2022, picking up by 10% on the previous year. Over the period under review, imports continue to indicate a strong expansion. The pace of growth was the most pronounced in 2021 when imports increased by 129%. The volume of import peaked in 2022 and is likely to continue growth in the near future.

In value terms, frozen fish fillet imports skyrocketed to $X in 2022. In general, imports continue to indicate a buoyant increase. The growth pace was the most rapid in 2019 when imports increased by 62% against the previous year. Over the period under review, imports attained the peak figure in 2022 and are likely to see gradual growth in years to come.

Imports by Country

In 2022, Mali (X tons) was the largest importer of frozen fish fillet, constituting 39% of total imports. It was distantly followed by Nigeria (X tons), Cabo Verde (X tons), Ghana (X tons) and Cote d'Ivoire (X tons), together creating a 54% share of total imports. Senegal (X tons) held a relatively small share of total imports.

Mali was also the fastest-growing in terms of the frozen fish fillet imports, with a CAGR of +65.2% from 2012 to 2022. At the same time, Senegal (+11.2%), Nigeria (+9.5%), Cote d'Ivoire (+8.9%), Ghana (+5.2%) and Cabo Verde (+2.7%) displayed positive paces of growth. While the share of Mali (+38 p.p.) increased significantly in terms of the total imports from 2012-2022, the share of Ghana (-5.3 p.p.) and Cabo Verde (-11.4 p.p.) displayed negative dynamics. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Cabo Verde ($X), Mali ($X) and Ghana ($X) constituted the countries with the highest levels of imports in 2022, together comprising 71% of total imports.

Mali, with a CAGR of +73.5%, saw the highest growth rate of the value of imports, in terms of the main importing countries 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 36% against the previous year. In general, the import price, however, continues to indicate a relatively flat trend pattern. Over the period under review, import prices hit record highs at $X per ton in 2018; however, from 2019 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 Cabo Verde ($X per ton), while Mali ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Cabo Verde (+7.0%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform

Frequently Asked Questions (FAQ) :