Western Africa: Frozen Fish Market 2024

Frozen Fish Market Size in Western Africa

The West African frozen fish market reduced to $X in 2022, dropping by X% against the previous year. The total consumption indicated a temperate 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, consumption decreased by X% against 2020 indices. The level of consumption peaked at $X in 2020; however, from 2021 to 2022, consumption failed to regain momentum.

Frozen Fish Production in Western Africa

In value terms, frozen fish production stood at $X in 2022 estimated in export price. Over the period under review, production continues to indicate a strong increase. The pace of growth was the most pronounced in 2018 with an increase of X% against the previous year. The level of production peaked at $X in 2020; however, from 2021 to 2022, production remained at a lower figure.

Frozen Fish Exports

Exports in Western Africa

In 2022, overseas shipments of frozen fish were finally on the rise to reach X tons after two years of decline. Total exports indicated a strong increase from 2012 to 2022: its volume 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, exports decreased by X% against 2019 indices. The growth pace was the most rapid in 2014 with an increase of X% against the previous year. Over the period under review, the exports attained the maximum at X tons in 2019; however, from 2020 to 2022, the exports remained at a lower figure.

In value terms, frozen fish exports rose to $X in 2022. Total exports indicated prominent growth 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, exports decreased by X% against 2019 indices. The most prominent rate of growth was recorded in 2013 when exports increased by X% against the previous year. Over the period under review, the exports hit record highs at $X in 2019; however, from 2020 to 2022, the exports stood at a somewhat lower figure.

Exports by Country

In 2022, Mauritania (X tons) was the major exporter of frozen fish, comprising X% of total exports. It was distantly followed by Senegal (X tons), making up a X% share of total exports. Guinea-Bissau (X tons) and Ghana (X tons) held a minor share of total exports.

From 2012 to 2022, the most notable rate of growth in terms of shipments, amongst the leading exporting countries, was attained by Guinea-Bissau (with a CAGR of X%), while the other leaders experienced more modest paces of growth.

In value terms, Mauritania ($X), Senegal ($X) and Ghana ($X) constituted the countries with the highest levels of exports in 2022, with a combined X% share of total exports. These countries were followed by Guinea-Bissau, which accounted for a further X%.

Guinea-Bissau, with a CAGR of X%, recorded the highest rates of growth with regard to the value of exports, among 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 X% 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 2013 an increase of X%. As a result, the export price attained the peak level of $X per ton. From 2014 to 2022, the export prices remained at a lower figure.

Prices varied noticeably by country of origin: amid the top suppliers, the country with the highest price was Ghana ($X per ton), while Mauritania ($X per ton) was amongst the lowest.

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

Frozen Fish Imports

Imports in Western Africa

In 2022, overseas purchases of frozen fish decreased by X% to X tons, falling for the second year in a row after six years of growth. In general, imports, however, enjoyed a temperate expansion. The pace of growth was the most pronounced in 2017 with an increase of X%. The volume of import peaked at X tons in 2020; however, from 2021 to 2022, imports failed to regain momentum.

In value terms, frozen fish imports contracted to $X in 2022. Over the period under review, imports, however, saw a relatively flat trend pattern. The growth pace was the most rapid in 2017 with an increase of X% against the previous year. The level of import peaked at $X in 2021, and then fell in the following year.

Imports by Country

Cote d'Ivoire was the largest importing country with an import of around X tons, which amounted to X% of total imports. Nigeria (X tons) held the second position in the ranking, followed by Ghana (X tons), Burkina Faso (X tons), Benin (X tons) and Mali (X tons). All these countries together took near X% share of total imports. Togo (X tons) held a relatively small share of total imports.

From 2012 to 2022, average annual rates of growth with regard to frozen fish imports into Cote d'Ivoire stood at X%. At the same time, Benin (X%), Mali (X%), Burkina Faso (X%), Togo (X%) and Ghana (X%) displayed positive paces of growth. Moreover, Benin emerged as the fastest-growing importer imported in Western Africa, with a CAGR of X% from 2012-2022. By contrast, Nigeria (X%) illustrated a downward trend over the same period. Cote d'Ivoire (X p.p.), Burkina Faso (X p.p.), Benin (X p.p.) and Mali (X p.p.) significantly strengthened its position in terms of the total imports, while Nigeria saw its share reduced by X% from 2012 to 2022, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, the largest frozen fish importing markets in Western Africa were Cote d'Ivoire ($X), Nigeria ($X) and Ghana ($X), together comprising X% of total imports. Benin, Mali, Togo and Burkina Faso lagged somewhat behind, together accounting for a further X%.

Mali, with a CAGR of X%, recorded 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

In 2022, the import price in Western Africa amounted to $X per ton, approximately equating the previous year. In general, the import price continues to indicate a pronounced curtailment. The most prominent rate of growth was recorded in 2020 an increase of X% against the previous year. Over the period under review, import prices attained the peak figure at $X per ton in 2012; however, from 2013 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 Nigeria ($X per ton), while Burkina Faso ($X per ton) was amongst the lowest.

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

Source: IndexBox Platform

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