Western Africa: Filling Containers Machinery Market 2024

Filling Containers Machinery Market Size in Western Africa

The West African filling containers machinery market surged to $X in 2021, increasing by 24% against the previous year. Over the period under review, consumption, however, continues to indicate a significant expansion. The level of consumption peaked in 2021 and is likely to see gradual growth in years to come.

Filling Containers Machinery Production in Western Africa

In value terms, filling containers machinery production shrank to $X in 2021 estimated in export price. Overall, production continues to indicate a strong expansion. The most prominent rate of growth was recorded in 2018 when the production volume increased by 180% against the previous year. The level of production peaked at $X in 2020, and then contracted in the following year.

Filling Containers Machinery Exports

Exports in Western Africa

In 2021, approx. X units of machinery for filling, closing, sealing, capsuling or labelling containers were exported in Western Africa; waning by -1.9% on the previous year. In general, exports saw a relatively flat trend pattern. The most prominent rate of growth was recorded in 2016 when exports increased by 213%. As a result, the exports reached the peak of X units. From 2017 to 2021, the growth of the exports remained at a lower figure.

In value terms, filling containers machinery exports declined markedly to $X in 2021. Over the period under review, exports saw a noticeable reduction. The pace of growth appeared the most rapid in 2016 when exports increased by 243%. As a result, the exports attained the peak of $X. From 2017 to 2021, the growth of the exports remained at a somewhat lower figure.

Exports by Country

Benin was the key exporter of machinery for filling, closing, sealing, capsuling or labelling containers in Western Africa, with the volume of exports finishing at X units, which was near 67% of total exports in 2021. Senegal (X units) ranks second in terms of the total exports with a 17% share, followed by Nigeria (11%). Cote d'Ivoire (X units) followed a long way behind the leaders.

Benin was also the fastest-growing in terms of the machinery for filling, closing, sealing, capsuling or labelling containers exports, with a CAGR of +21.6% from 2012 to 2021. At the same time, Nigeria (+1.8%) displayed positive paces of growth. Senegal experienced a relatively flat trend pattern. By contrast, Cote d'Ivoire (-6.7%) illustrated a downward trend over the same period. Benin (+56 p.p.) and Nigeria (+1.9 p.p.) significantly strengthened its position in terms of the total exports, while Cote d'Ivoire saw its share reduced by -2.1% from 2012 to 2021, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, the largest filling containers machinery supplying countries in Western Africa were Benin ($X), Senegal ($X) and Nigeria ($X), together accounting for 78% of total exports.

In terms of the main exporting countries, Benin, with a CAGR of +18.0%, recorded the highest rates of growth with regard to 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

In 2021, the export price in Western Africa amounted to $X per unit, reducing by -30.5% against the previous year. Overall, the export price showed a pronounced slump. The pace of growth was the most pronounced in 2013 when the export price increased by 55% against the previous year. Over the period under review, the export prices hit record highs at $X per unit in 2018; however, from 2019 to 2021, the export prices remained at a lower figure.

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

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Nigeria (+13.9%), while the other leaders experienced mixed trends in the export price figures.

Filling Containers Machinery Imports

Imports in Western Africa

In 2021, after four years of growth, there was significant decline in overseas purchases of machinery for filling, closing, sealing, capsuling or labelling containers, when their volume decreased by -30.7% to X units. In general, imports, however, saw a significant increase. The growth pace was the most rapid in 2018 with an increase of 117% against the previous year. The volume of import peaked at X units in 2020, and then shrank sharply in the following year.

In value terms, filling containers machinery imports rose sharply to $X in 2021. Overall, imports, however, showed strong growth. The growth pace was the most rapid in 2014 when imports increased by 145%. Over the period under review, imports hit record highs in 2021 and are expected to retain growth in the near future.

Imports by Country

Nigeria prevails in imports structure, accounting for X units, which was approx. 90% of total imports in 2021. It was distantly followed by Ghana (X units), comprising a 6% share of total imports. Cote d'Ivoire (X units) followed a long way behind the leaders.

Nigeria was also the fastest-growing in terms of the machinery for filling, closing, sealing, capsuling or labelling containers imports, with a CAGR of +27.1% from 2012 to 2021. At the same time, Cote d'Ivoire (+24.3%) and Ghana (+21.9%) displayed positive paces of growth. While the share of Nigeria (+9 p.p.) increased significantly in terms of the total imports from 2012-2021, the share of Ghana (-1.9 p.p.) displayed negative dynamics. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Nigeria ($X) constitutes the largest market for imported machinery for filling, closing, sealing, capsuling or labelling containers in Western Africa, comprising 60% of total imports. The second position in the ranking was held by Ghana ($X), with a 23% share of total imports.

In Nigeria, filling containers machinery imports expanded at an average annual rate of +14.9% over the period from 2012-2021. The remaining importing countries recorded the following average annual rates of imports growth: Ghana (+29.2% per year) and Cote d'Ivoire (+20.3% per year).

Import Prices by Country

In 2021, the import price in Western Africa amounted to $X per unit, jumping by 61% against the previous year. In general, the import price, however, continues to indicate a abrupt slump. Over the period under review, import prices attained the maximum at $X per unit in 2014; however, from 2015 to 2021, import prices stood at a somewhat lower figure.

There were significant differences in the average prices amongst the major importing countries. In 2021, the country with the highest price was Ghana ($X per unit), while Nigeria ($X per unit) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Ghana (+6.1%), while the other leaders experienced a decline in the import price figures.

Source: IndexBox Platform

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