Western Africa: Frozen Norway Lobster Market 2024

Frozen Norway Lobster Market Size in Western Africa

The West African frozen norway lobster market contracted to $X in 2022, declining by -10.7% against the previous year. Over the period under review, consumption recorded a relatively flat trend pattern. The level of consumption peaked at $X in 2021, and then shrank in the following year.

Frozen Norway Lobster Production in Western Africa

In value terms, frozen norway lobster production totaled $X in 2022 estimated in export price. In general, production continues to indicate buoyant growth. The pace of growth was the most pronounced in 2019 with an increase of 35%. Over the period under review, production attained the maximum level at $X in 2020; however, from 2021 to 2022, production stood at a somewhat lower figure.

Frozen Norway Lobster Exports

Exports in Western Africa

In 2022, shipments abroad of frozen norway lobsters was finally on the rise to reach X kg after three years of decline. Over the period under review, exports saw a significant increase. The most prominent rate of growth was recorded in 2013 when exports increased by 279,100%. Over the period under review, the exports hit record highs at X tons in 2018; however, from 2019 to 2022, the exports remained at a lower figure.

In value terms, frozen norway lobster exports skyrocketed to $X in 2022. Overall, exports enjoyed a significant expansion. The most prominent rate of growth was recorded in 2013 with an increase of 1,644,300%. Over the period under review, the exports attained the peak figure at $X in 2018; however, from 2019 to 2022, the exports failed to regain momentum.

Exports by Country

Nigeria represented the major exporter of frozen norway lobsters in Western Africa, with the volume of exports reaching X kg, which was approx. 85% of total exports in 2022. It was distantly followed by Senegal (X kg), achieving a 14% share of total exports. Mauritania (X kg) took a little share of total exports.

Nigeria was also the fastest-growing in terms of the frozen norway lobsters exports, with a CAGR of +73.4% from 2012 to 2022. Senegal (-2.3%) and Mauritania (-52.4%) illustrated a downward trend over the same period. From 2012 to 2022, the share of Senegal and Mauritania increased by +14 and +1.7 percentage points, respectively.

In value terms, Nigeria ($X) emerged as the largest frozen norway lobster supplier in Western Africa, comprising 81% of total exports. The second position in the ranking was held by Senegal ($X), with a 19% share of total exports.

From 2012 to 2022, the average annual rate of growth in terms of value in Nigeria amounted to +123.2%. In the other countries, the average annual rates were as follows: Senegal (-0.8% per year) and Mauritania (-49.6% per year).

Export Prices by Country

The export price in Western Africa stood at $X per ton in 2022, shrinking by -6.1% against the previous year. Overall, the export price, however, posted a significant expansion. The most prominent rate of growth was recorded in 2013 when the export price increased by 489% against the previous year. Over the period under review, the export prices attained the peak figure at $X per ton in 2021, and then fell in the following year.

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

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Nigeria (+28.7%), while the other leaders experienced more modest paces of growth.

Frozen Norway Lobster Imports

Imports in Western Africa

Frozen norway lobster imports fell sharply to X tons in 2022, shrinking by -30.9% compared with the year before. In general, imports showed a abrupt curtailment. The growth pace was the most rapid in 2021 when imports increased by 140%. Over the period under review, imports hit record highs at X tons in 2013; however, from 2014 to 2022, imports stood at a somewhat lower figure.

In value terms, frozen norway lobster imports contracted sharply to $X in 2022. Overall, imports showed a drastic downturn. The growth pace was the most rapid in 2021 with an increase of 187% against the previous year. The level of import peaked at $X in 2014; however, from 2015 to 2022, imports failed to regain momentum.

Imports by Country

Cote d'Ivoire represented the largest importing country with an import of around X tons, which accounted for 47% of total imports. Cabo Verde (X kg) ranks second in terms of the total imports with an 18% share, followed by Niger (16%), Mali (5.9%) and Burkina Faso (5.6%). Benin (X kg) and Ghana (X kg) followed a long way behind the leaders.

Imports into Cote d'Ivoire increased at an average annual rate of +41.7% from 2012 to 2022. At the same time, Ghana (+72.8%), Burkina Faso (+16.4%), Niger (+15.0%) and Mali (+8.7%) displayed positive paces of growth. Moreover, Ghana emerged as the fastest-growing importer imported in Western Africa, with a CAGR of +72.8% from 2012-2022. Benin experienced a relatively flat trend pattern. By contrast, Cabo Verde (-26.0%) illustrated a downward trend over the same period. From 2012 to 2022, the share of Cote d'Ivoire, Niger, Burkina Faso, Mali, Benin and Ghana increased by +47, +15, +5.3, +5.2, +3 and +2 percentage points, respectively.

In value terms, Cote d'Ivoire ($X) constitutes the largest market for imported frozen norway lobsters in Western Africa, comprising 58% of total imports. The second position in the ranking was held by Cabo Verde ($X), with a 12% share of total imports. It was followed by Niger, with a 12% share.

From 2012 to 2022, the average annual growth rate of value in Cote d'Ivoire amounted to +71.3%. The remaining importing countries recorded the following average annual rates of imports growth: Cabo Verde (-22.5% per year) and Niger (+17.5% per year).

Import Prices by Country

In 2022, the import price in Western Africa amounted to $X per ton, stabilizing at the previous year. Overall, the import price, however, recorded a strong increase. The pace of growth was the most pronounced in 2018 an increase of 62% against the previous year. As a result, import price reached the peak level of $X per ton. From 2019 to 2022, the import prices remained at a somewhat 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 Ghana ($X per ton), while Mali ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Cote d'Ivoire (+20.9%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform

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