Western Africa: Industrial Bakery Machinery Market 2024

Industrial Bakery Machinery Market Size in Western Africa

The West African industrial bakery machinery market soared to $X in 2022, rising by 39% against the previous year. Overall, consumption continues to indicate moderate growth. The level of consumption peaked at $X in 2020; however, from 2021 to 2022, consumption failed to regain momentum.

Industrial Bakery Machinery Production in Western Africa

In value terms, industrial bakery machinery production rose to $X in 2022 estimated in export price. The total production indicated tangible growth from 2012 to 2022: its value increased at an average annual rate of +2.1% 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 -1.5% against 2020 indices. The growth pace was the most rapid in 2019 when the production volume increased by 37%. Over the period under review, production hit record highs at $X in 2020; however, from 2021 to 2022, production failed to regain momentum.

Industrial Bakery Machinery Exports

Exports in Western Africa

In 2022, approx. X units of industrial bakery machinery were exported in Western Africa; with a decrease of -12% against 2021 figures. Overall, exports, however, posted a modest expansion. The pace of growth appeared the most rapid in 2014 when exports increased by 328%. Over the period under review, the exports reached the maximum at X units in 2017; however, from 2018 to 2022, the exports stood at a somewhat lower figure.

In value terms, industrial bakery machinery exports fell modestly to $X in 2022. Over the period under review, exports, however, saw a moderate expansion. The pace of growth was the most pronounced in 2014 when exports increased by 360%. Over the period under review, the exports attained the maximum at $X in 2017; however, from 2018 to 2022, the exports remained at a lower figure.

Exports by Country

Senegal represented the key exporting country with an export of about X units, which accounted for 56% of total exports. Gambia (X units) held the second position in the ranking, distantly followed by Nigeria (X units) and Cote d'Ivoire (X units). All these countries together held near 36% share of total exports. The following exporters - Mauritania (X units) and Ghana (X units) - together made up 6.1% of total exports.

Senegal was also the fastest-growing in terms of the industrial bakery machinery exports, with a CAGR of +20.2% from 2012 to 2022. At the same time, Mauritania (+7.2%) and Cote d'Ivoire (+3.4%) displayed positive paces of growth. By contrast, Gambia (-1.7%), Nigeria (-10.8%) and Ghana (-17.3%) illustrated a downward trend over the same period. While the share of Senegal (+46 p.p.) and Mauritania (+1.8 p.p.) increased significantly in terms of the total exports from 2012-2022, the share of Gambia (-8.8 p.p.), Ghana (-13.3 p.p.) and Nigeria (-13.8 p.p.) displayed negative dynamics. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Senegal ($X) remains the largest industrial bakery machinery supplier in Western Africa, comprising 50% of total exports. The second position in the ranking was held by Nigeria ($X), with a 19% share of total exports. It was followed by Ghana, with a 12% share.

In Senegal, industrial bakery machinery exports increased at an average annual rate of +20.2% over the period from 2012-2022. The remaining exporting countries recorded the following average annual rates of exports growth: Nigeria (-0.6% per year) and Ghana (+1.7% per year).

Export Prices by Country

The export price in Western Africa stood at $X per unit in 2022, rising by 9.3% against the previous year. Overall, the export price posted a noticeable expansion. The growth pace was the most rapid in 2019 when the export price increased by 104% against the previous year. The level of export peaked at $X per unit in 2017; however, from 2018 to 2022, the export prices failed to regain momentum.

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

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Ghana (+22.3%), while the other leaders experienced more modest paces of growth.

Industrial Bakery Machinery Imports

Imports in Western Africa

In 2022, industrial bakery machinery imports in Western Africa skyrocketed to X units, jumping by 40% compared with the previous year's figure. Over the period under review, imports saw buoyant growth. The pace of growth was the most pronounced in 2019 with an increase of 111%. Over the period under review, imports reached the maximum at X units in 2020; however, from 2021 to 2022, imports failed to regain momentum.

In value terms, industrial bakery machinery imports skyrocketed to $X in 2022. Overall, imports recorded perceptible growth. The pace of growth appeared the most rapid in 2014 with an increase of 103% against the previous year. Over the period under review, imports reached the peak figure in 2022 and are likely to see gradual growth in the immediate term.

Imports by Country

Nigeria prevails in imports structure, reaching X units, which was near 62% of total imports in 2022. It was distantly followed by Cote d'Ivoire (X units), Ghana (X units), Mauritania (X units), Mali (X units) and Senegal (X units), together mixing up a 34% share of total imports.

From 2012 to 2022, average annual rates of growth with regard to industrial bakery machinery imports into Nigeria stood at +4.4%. At the same time, Cote d'Ivoire (+22.7%), Mali (+11.6%), Ghana (+9.5%), Senegal (+8.6%) and Mauritania (+5.4%) displayed positive paces of growth. Moreover, Cote d'Ivoire emerged as the fastest-growing importer imported in Western Africa, with a CAGR of +22.7% from 2012-2022. While the share of Cote d'Ivoire (+7.3 p.p.), Ghana (+2.3 p.p.) and Mali (+2.2 p.p.) increased significantly in terms of the total imports from 2012-2022, the share of Nigeria (-10.2 p.p.) displayed negative dynamics. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Nigeria ($X) constitutes the largest market for imported industrial bakery machinery in Western Africa, comprising 60% of total imports. The second position in the ranking was taken by Ghana ($X), with a 13% share of total imports. It was followed by Cote d'Ivoire, with an 11% share.

In Nigeria, industrial bakery machinery imports remained relatively stable over the period from 2012-2022. In the other countries, the average annual rates were as follows: Ghana (+19.3% per year) and Cote d'Ivoire (+22.3% per year).

Import Prices by Country

In 2022, the import price in Western Africa amounted to $X per unit, with a decrease of -11% against the previous year. In general, the import price continues to indicate a pronounced reduction. The pace of growth appeared the most rapid in 2021 an increase of 74% against the previous year. The level of import peaked at $X per unit 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 Ghana ($X per unit), while Senegal ($X per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Ghana (+9.0%), while the other leaders experienced a decline in the import price figures.

Source: IndexBox Platform

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