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Report Western Africa - Lard Stearin, Lard Oil, Oleostearin, Oleo-Oil and Tallow Oil - Market Analysis, Forecast, Size, Trends and Insights for 499$
Report Update Nov 1, 2024

Western Africa - Lard Stearin, Lard Oil, Oleostearin, Oleo-Oil and Tallow Oil - Market Analysis, Forecast, Size, Trends and Insights

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Western Africa: Oleo Oils Market 2024

Oleo Oils Market Size in Western Africa

In 2021, after five years of growth, there was significant decline in the West African oleo oils market, when its value decreased by -24% to $X. Over the period under review, consumption, however, recorded measured growth. The level of consumption peaked at $X in 2020, and then shrank remarkably in the following year.

Oleo Oils Production in Western Africa

In value terms, oleo oils production skyrocketed to $X in 2021 estimated in export price. The total production indicated a prominent increase from 2012 to 2021: its value increased at an average annual rate of +7.6% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. As a result, production reached the peak level and is likely to continue growth in the immediate term.

Oleo Oils Exports

Exports in Western Africa

For the third year in a row, Western Africa recorded growth in shipments abroad of lard stearin, lard oil, oleostearin, oleo-oil and tallow oil, which increased by 2,091% to X tons in 2021. In general, exports enjoyed a significant expansion. As a result, the exports attained the peak and are likely to continue growth in the immediate term.

In value terms, oleo oils exports surged to $X in 2021. Overall, exports continue to indicate a significant increase. As a result, the exports reached the peak and are likely to continue growth in the immediate term.

Exports by Country

Senegal (X tons) and Ghana (X tons) represented roughly 100% of total exports in 2021.

From 2012 to 2021, the most notable rate of growth in terms of shipments, amongst the main exporting countries, was attained by Ghana (with a CAGR of +19.6%).

In value terms, Senegal ($X) and Ghana ($X) constituted the countries with the highest levels of exports in 2021.

In terms of the main exporting countries, Ghana, with a CAGR of +14.5%, saw the highest rates of growth with regard to the value of exports, over the period under review.

Export Prices by Country

In 2021, the export price in Western Africa amounted to $X per ton, increasing by 160% against the previous year. Over the period under review, the export price enjoyed a tangible increase. The level of export peaked at $X per ton in 2017; however, from 2018 to 2021, the export prices stood at a somewhat lower figure.

There were significant differences in the average prices amongst the major exporting countries. In 2021, the country with the highest price was Senegal ($X per ton), while Ghana totaled $X per ton.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Ghana (-4.3%).

Oleo Oils Imports

Imports in Western Africa

In 2021, oleo oils imports in Western Africa rose modestly to X tons, picking up by 2.7% on the previous year's figure. Over the period under review, imports recorded a buoyant increase. The pace of growth appeared the most rapid in 2018 with an increase of 300%. As a result, imports reached the peak of X tons. From 2019 to 2021, the growth of imports remained at a lower figure.

In value terms, oleo oils imports dropped to $X in 2021. In general, imports enjoyed a strong increase. The pace of growth was the most pronounced in 2018 when imports increased by 249%. As a result, imports reached the peak of $X. From 2019 to 2021, the growth of imports failed to regain momentum.

Imports by Country

Nigeria was the key importer of lard stearin, lard oil, oleostearin, oleo-oil and tallow oil in Western Africa, with the volume of imports accounting for X tons, which was near 49% of total imports in 2021. It was distantly followed by Togo (X tons), Niger (X tons) and Cabo Verde (X tons), together achieving a 44% share of total imports. Burkina Faso (X tons) and Cote d'Ivoire (X tons) held a relatively small share of total imports.

From 2012 to 2021, the biggest increases were recorded for Niger (with a CAGR of +63.8%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, Nigeria ($X) constitutes the largest market for imported lard stearin, lard oil, oleostearin, oleo-oil and tallow oil in Western Africa, comprising 53% of total imports. The second position in the ranking was held by Niger ($X), with a 19% share of total imports. It was followed by Cabo Verde, with an 11% share.

In Nigeria, oleo oils imports expanded at an average annual rate of +14.8% over the period from 2012-2021. In the other countries, the average annual rates were as follows: Niger (+38.2% per year) and Cabo Verde (+9.9% per year).

Import Prices by Country

In 2021, the import price in Western Africa amounted to $X per ton, falling by -10% against the previous year. Overall, the import price saw a mild slump. The pace of growth appeared the most rapid in 2020 an increase of 27% against the previous year. The level of import peaked at $X per ton in 2013; however, from 2014 to 2021, import prices remained at a lower figure.

Prices varied noticeably country of destination: the country with the highest price was Cote d'Ivoire ($X per ton), while Togo ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Cabo Verde (+8.5%), while the other leaders experienced a decline in the import price figures.

Source: IndexBox Platform

Frequently Asked Questions (FAQ) :

The countries with the highest volumes of oleo oils consumption in 2020 were Mauritania, Nigeria and Cabo Verde, together comprising 84% of total consumption. Togo, Cote d'Ivoire and Burkina Faso lagged somewhat behind, together accounting for a further 12%.
Cote d'Ivoire remains the largest oleo oils producing country in Western Africa, comprising approx. 87% of total volume. Moreover, oleo oils production in Cote d'Ivoire exceeded the figures recorded by the second-largest producer, Mali, eightfold.
In value terms, Cote d'Ivoire emerged as the largest oleo oils supplier in Western Africa, comprising 80% of total exports. The second position in the ranking was occupied by Nigeria, with a 20% share of total exports.
In value terms, Nigeria constitutes the largest market for imported lard stearin, lard oil, oleostearin, oleo-oil and tallow oil in Western Africa, comprising 69% of total imports. The second position in the ranking was occupied by Mauritania, with a 15% share of total imports. It was followed by Cabo Verde, with a 10% share.
The oleo oils export price in Western Africa stood at $351 per ton in 2020, waning by -42.2% against the previous year.
The oleo oils import price in Western Africa stood at $513 per ton in 2020, reducing by -79.4% against the previous year.

This report provides an in-depth analysis of the oleo oils market in Western Africa. Within it, you will discover the latest data on market trends and opportunities by country, consumption, production and price developments, as well as the global trade (imports and exports). The forecast exhibits the market prospects through 2030.

Product coverage:

  • Prodcom 10411100 - Lard stearin, lard oil, oleostearin, oleo-oil and tallow oil (excluding emulsified, mixed or otherwise prepared)

Country coverage:

  • Benin
  • Burkina Faso
  • Cabo Verde
  • Gambia
  • Ghana
  • Guinea
  • Guinea-Bissau
  • Liberia
  • Mali
  • Mauritania
  • Niger
  • Nigeria
  • Saint Helena, Ascension and Tristan da Cunha
  • Senegal
  • Sierra Leone
  • Togo
  • Cote d'Ivoire

Data coverage:

  • Market volume and value
  • Per Capita consumption
  • Forecast of the market dynamics in the medium term
  • Production in Western Africa, split by region and country
  • Trade (exports and imports) in Western Africa
  • Export and import prices
  • Market trends, drivers and restraints
  • Key market players and their profiles

Reasons to buy this report:

  • Take advantage of the latest data
  • Find deeper insights into current market developments
  • Discover vital success factors affecting the market

This report is designed for manufacturers, distributors, importers, and wholesalers, as well as for investors, consultants and advisors.

In this report, you can find information that helps you to make informed decisions on the following issues:

  1. How to diversify your business and benefit from new market opportunities
  2. How to load your idle production capacity
  3. How to boost your sales on overseas markets
  4. How to increase your profit margins
  5. How to make your supply chain more sustainable
  6. How to reduce your production and supply chain costs
  7. How to outsource production to other countries
  8. How to prepare your business for global expansion

While doing this research, we combine the accumulated expertise of our analysts and the capabilities of artificial intelligence. The AI-based platform, developed by our data scientists, constitutes the key working tool for business analysts, empowering them to discover deep insights and ideas from the marketing data.

  1. 1. INTRODUCTION

    Making Data-Driven Decisions to Grow Your Business

    1. REPORT DESCRIPTION
    2. RESEARCH METHODOLOGY AND AI PLATFORM
    3. DATA-DRIVEN DECISIONS FOR YOUR BUSINESS
    4. GLOSSARY AND SPECIFIC TERMS

  2. 2. EXECUTIVE SUMMARY

    A Quick Overview of Market Performance

    1. KEY FINDINGS
    2. MARKET TRENDS This Chapter is Available Only for the Professional Edition PRO

  3. 3. MARKET OVERVIEW

    Understanding the Current State of The Market and Its Prospects

    1. MARKET SIZE
    2. CONSUMPTION BY COUNTRY
    3. MARKET FORECAST TO 2030

  4. 4. MOST PROMISING PRODUCT

    Finding New Products to Diversify Your Business

    This Chapter is Available Only for the Professional Edition PRO
    1. TOP PRODUCTS TO DIVERSIFY YOUR BUSINESS
    2. BEST-SELLING PRODUCTS
    3. MOST CONSUMED PRODUCT
    4. MOST TRADED PRODUCT
    5. MOST PROFITABLE PRODUCT FOR EXPORT

  5. 5. MOST PROMISING SUPPLYING COUNTRIES

    Choosing the Best Countries to Establish Your Sustainable Supply Chain

    This Chapter is Available Only for the Professional Edition PRO
    1. TOP COUNTRIES TO SOURCE YOUR PRODUCT
    2. TOP PRODUCING COUNTRIES
    3. TOP EXPORTING COUNTRIES
    4. LOW-COST EXPORTING COUNTRIES

  6. 6. MOST PROMISING OVERSEAS MARKETS

    Choosing the Best Countries to Boost Your Exports

    This Chapter is Available Only for the Professional Edition PRO
    1. TOP OVERSEAS MARKETS FOR EXPORTING YOUR PRODUCT
    2. TOP CONSUMING MARKETS
    3. UNSATURATED MARKETS
    4. TOP IMPORTING MARKETS
    5. MOST PROFITABLE MARKETS

  7. 7. PRODUCTION

    The Latest Trends and Insights into The Industry

    1. PRODUCTION VOLUME AND VALUE
    2. PRODUCTION BY COUNTRY

  8. 8. IMPORTS

    The Largest Importers on The Market and How They Succeed

    1. IMPORTS FROM 2012–2023
    2. IMPORTS BY COUNTRY
    3. IMPORT PRICES BY COUNTRY

  9. 9. EXPORTS

    The Largest Exporters on The Market and How They Succeed

    1. EXPORTS FROM 2012–2023
    2. EXPORTS BY COUNTRY
    3. EXPORT PRICES BY COUNTRY

  10. 10. PROFILES OF MAJOR PRODUCERS

    The Largest Producers on The Market and Their Profiles

    This Chapter is Available Only for the Professional Edition PRO

  11. 11. COUNTRY PROFILES

    The Largest Markets And Their Profiles

    This Chapter is Available Only for the Professional Edition PRO
    • Benin
    • Burkina Faso
    • Cabo Verde
    • Gambia
    • Ghana
    • Guinea
    • Guinea-Bissau
    • Liberia
    • Mali
    • Mauritania
    • Niger
    • Nigeria
    • Saint Helena, Ascension and Tristan da Cunha
    • Senegal
    • Sierra Leone
    • Togo
    • Cote d'Ivoire

  12. LIST OF TABLES

    1. Key Findings In 2023
    2. Market Volume, In Physical Terms, 2012–2023
    3. Market Value, 2012–2023
    4. Per Capita Consumption, By Country, 2018–2023
    5. Production, In Physical Terms, By Country, 2012–2023
    6. Imports, In Physical Terms, By Country, 2012–2023
    7. Imports, In Value Terms, By Country, 2012–2023
    8. Import Prices, By Country Of Destination, 2012–2023
    9. Exports, In Physical Terms, By Country, 2012–2023
    10. Exports, In Value Terms, By Country, 2012–2023
    11. Export Prices, By Country Of Origin, 2012–2023

  13. LIST OF FIGURES

    1. Market Volume, In Physical Terms, 2012–2023
    2. Market Value, 2012–2023
    3. Consumption, By Country, 2023
    4. Market Volume Forecast to 2030
    5. Market Value Forecast to 2030
    6. Products: Market Size And Growth, By Type
    7. Products: Average Per Capita Consumption, By Type
    8. Products: Exports And Growth, By Type
    9. Products: Export Prices And Growth, By Type
    10. Production Volume And Growth
    11. Exports And Growth
    12. Export Prices And Growth
    13. Market Size And Growth
    14. Per Capita Consumption
    15. Imports And Growth
    16. Import Prices
    17. Production, In Physical Terms, 2012–2023
    18. Production, In Value Terms, 2012–2023
    19. Production, By Country, 2023
    20. Production, In Physical Terms, By Country, 2012–2023
    21. Imports, In Physical Terms, 2012–2023
    22. Imports, In Value Terms, 2012–2023
    23. Imports, In Physical Terms, By Country, 2023
    24. Imports, In Physical Terms, By Country, 2012–2023
    25. Imports, In Value Terms, By Country, 2012–2023
    26. Import Prices, By Country, 2012–2023
    27. Exports, In Physical Terms, 2012–2023
    28. Exports, In Value Terms, 2012–2023
    29. Exports, In Physical Terms, By Country, 2023
    30. Exports, In Physical Terms, By Country, 2012–2023
    31. Exports, In Value Terms, By Country, 2012–2023
    32. Export Prices, 2012–2023

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Free Data: Lard Stearin, Lard Oil, Oleostearin, Oleo-Oil And Tallow Oil - Western Africa
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