Western Africa: Machinery For Packing Market 2024

Machinery For Packing Market Size in Western Africa

In 2022, the West African machinery for packing market decreased by -22.9% to $X, falling for the second year in a row after five years of growth. In general, consumption, however, enjoyed a prominent increase. The level of consumption peaked at $X in 2020; however, from 2021 to 2022, consumption failed to regain momentum.

Machinery For Packing Production in Western Africa

In value terms, machinery for packing production reduced modestly to $X in 2022 estimated in export price. Over the period under review, production, however, posted strong growth. The most prominent rate of growth was recorded in 2019 when the production volume increased by 86% against the previous year. As a result, production attained the peak level of $X. From 2020 to 2022, production growth failed to regain momentum.

Machinery For Packing Exports

Exports in Western Africa

In 2022, exports of machinery for packing or wrapping in Western Africa soared to X units, with an increase of 39% against the year before. Overall, exports continue to indicate a relatively flat trend pattern. The growth pace was the most rapid in 2020 when exports increased by 254% against the previous year. As a result, the exports attained the peak of X units. From 2021 to 2022, the growth of the exports remained at a lower figure.

In value terms, machinery for packing exports declined to $X in 2022. Over the period under review, exports, however, recorded a abrupt shrinkage. The growth pace was the most rapid in 2020 with an increase of 39%. Over the period under review, the exports hit record highs at $X in 2012; however, from 2013 to 2022, the exports remained at a lower figure.

Exports by Country

Ghana (X units) and Togo (X units) were the main exporters of machinery for packing or wrapping in 2022, finishing at approx. 39% and 26% of total exports, respectively. Senegal (X units) took a 15% share (based on physical terms) of total exports, which put it in second place, followed by Nigeria (8.6%). The following exporters - Cote d'Ivoire (X units), Liberia (X units) and Mali (X units) - together made up 8.4% of total exports.

From 2012 to 2022, the biggest increases were recorded for Liberia (with a CAGR of +25.2%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, Togo ($X), Senegal ($X) and Nigeria ($X) constituted the countries with the highest levels of exports in 2022, with a combined 69% share of total exports. Ghana, Cote d'Ivoire, Liberia and Mali lagged somewhat behind, together accounting for a further 23%.

Cote d'Ivoire, with a CAGR of +23.7%, recorded the highest growth rate of 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 unit in 2022, waning by -34.1% against the previous year. Over the period under review, the export price continues to indicate a abrupt decline. The pace of growth appeared the most rapid in 2021 an increase of 110% against the previous year. Over the period under review, the export prices attained the maximum at $X per unit in 2018; however, from 2019 to 2022, the export prices failed to regain momentum.

There were significant differences in the average prices amongst the major exporting countries. In 2022, amid the top suppliers, the country with the highest price was Nigeria ($X per unit), while Ghana ($X per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Cote d'Ivoire (+6.5%), while the other leaders experienced a decline in the export price figures.

Machinery For Packing Imports

Imports in Western Africa

In 2022, overseas purchases of machinery for packing or wrapping decreased by -37.7% to X units, falling for the second year in a row after five years of growth. Overall, imports, however, posted a buoyant expansion. The pace of growth appeared the most rapid in 2019 with an increase of 98%. 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, machinery for packing imports declined to $X in 2022. In general, imports, however, continue to indicate noticeable growth. The pace of growth was the most pronounced in 2019 with an increase of 61% against the previous year. Over the period under review, imports attained the peak figure at $X in 2020; however, from 2021 to 2022, imports stood at a somewhat lower figure.

Imports by Country

Nigeria prevails in imports structure, accounting for X units, which was approx. 73% of total imports in 2022. Ghana (X units) held the second position in the ranking, followed by Cote d'Ivoire (X units). All these countries together took near 13% share of total imports. Mali (X units), Senegal (X units) and Guinea (X units) held a relatively small share of total imports.

From 2012 to 2022, average annual rates of growth with regard to machinery for packing imports into Nigeria stood at +12.7%. At the same time, Guinea (+20.5%), Mali (+11.8%), Cote d'Ivoire (+5.4%), Ghana (+2.2%) and Senegal (+2.0%) displayed positive paces of growth. Moreover, Guinea emerged as the fastest-growing importer imported in Western Africa, with a CAGR of +20.5% from 2012-2022. While the share of Nigeria (+16 p.p.) increased significantly in terms of the total imports from 2012-2022, the share of Cote d'Ivoire (-3.1 p.p.), Senegal (-3.6 p.p.) and Ghana (-7.6 p.p.) displayed negative dynamics. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Nigeria ($X) constitutes the largest market for imported machinery for packing or wrapping in Western Africa, comprising 49% of total imports. The second position in the ranking was held by Cote d'Ivoire ($X), with a 16% share of total imports. It was followed by Ghana, with a 15% share.

From 2012 to 2022, the average annual rate of growth in terms of value in Nigeria stood at +3.8%. The remaining importing countries recorded the following average annual rates of imports growth: Cote d'Ivoire (+3.7% per year) and Ghana (+3.5% per year).

Import Prices by Country

In 2022, the import price in Western Africa amounted to $X per unit, picking up by 51% against the previous year. Over the period under review, the import price, however, recorded a abrupt downturn. The level of import peaked at $X per unit in 2015; however, from 2016 to 2022, import prices failed to regain momentum.

Prices varied noticeably by country of destination: amid the top importers, the country with the highest price was Cote d'Ivoire ($X per unit), while Nigeria ($X per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Guinea (+2.3%), while the other leaders experienced mixed trends in the import price figures.

Source: IndexBox Platform

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