Western Africa: Smoked Salmon Market 2024

Smoked Salmon Market Size in Western Africa

The West African smoked salmon market rose slightly to $X in 2022, surging by 4.3% against the previous year. The total consumption indicated resilient growth from 2012 to 2022: its value increased at an average annual rate of +8.4% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, consumption decreased by -3.8% against 2020 indices. The level of consumption peaked at $X in 2020; however, from 2021 to 2022, consumption remained at a lower figure.

Smoked Salmon Production in Western Africa

In value terms, smoked salmon production expanded slightly to $X in 2022 estimated in export price. The total production indicated a strong increase from 2012 to 2022: its value increased at an average annual rate of +9.1% 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 -4.4% against 2020 indices. The pace of growth appeared the most rapid in 2013 when the production volume increased by 124%. Over the period under review, production hit record highs at $X in 2020; however, from 2021 to 2022, production failed to regain momentum.

Smoked Salmon Exports

Exports in Western Africa

In 2022, shipments abroad of smoked pacific, atlantic and danube salmon increased by 29% to X tons, rising for the second consecutive year after two years of decline. In general, exports, however, saw a abrupt contraction. The pace of growth was the most pronounced in 2021 with an increase of 120%. Over the period under review, the exports hit record highs at X tons in 2013; however, from 2014 to 2022, the exports failed to regain momentum.

In value terms, smoked salmon exports contracted to $X in 2022. Over the period under review, exports, however, recorded a abrupt setback. The pace of growth appeared the most rapid in 2018 when exports increased by 82%. Over the period under review, the exports hit record highs at $X in 2013; however, from 2014 to 2022, the exports stood at a somewhat lower figure.

Exports by Country

In 2022, Niger (X tons) represented the main exporter of smoked pacific, atlantic and danube salmon, comprising 49% of total exports. Cote d'Ivoire (X kg) ranks second in terms of the total exports with a 17% share, followed by Nigeria (12%), Ghana (11%) and Senegal (8.2%). Guinea (X kg) followed a long way behind the leaders.

Niger experienced a relatively flat trend pattern with regard to volume of exports of smoked pacific, atlantic and danube salmon. At the same time, Cote d'Ivoire (+37.3%) and Nigeria (+19.6%) displayed positive paces of growth. Moreover, Cote d'Ivoire emerged as the fastest-growing exporter exported in Western Africa, with a CAGR of +37.3% from 2012-2022. By contrast, Ghana (-1.4%), Senegal (-9.3%) and Guinea (-30.6%) illustrated a downward trend over the same period. While the share of Niger (+49 p.p.), Cote d'Ivoire (+17 p.p.), Nigeria (+11 p.p.), Ghana (+7.7 p.p.) and Senegal (+2.9 p.p.) increased significantly in terms of the total exports from 2012-2022, the share of Guinea (-31.2 p.p.) displayed negative dynamics.

In value terms, the largest smoked salmon supplying countries in Western Africa were Nigeria ($X), Ghana ($X) and Senegal ($X), together accounting for 72% of total exports. Cote d'Ivoire, Niger and Guinea lagged somewhat behind, together comprising a further 28%.

Cote d'Ivoire, with a CAGR of +20.1%, saw the highest growth rate of the value of exports, in terms of 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 ton in 2022, which is down by -32.3% against the previous year. Overall, the export price showed a noticeable setback. The growth pace was the most rapid in 2020 when the export price increased by 67%. As a result, the export price reached the peak level of $X per ton. From 2021 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 Senegal ($X per ton), while Niger ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Senegal (+9.2%), while the other leaders experienced mixed trends in the export price figures.

Smoked Salmon Imports

Imports in Western Africa

In 2022, approx. X tons of smoked pacific, atlantic and danube salmon were imported in Western Africa; which is down by -23.2% compared with 2021. Over the period under review, imports, however, continue to indicate resilient growth. The most prominent rate of growth was recorded in 2021 with an increase of 139% against the previous year. As a result, imports reached the peak of X tons, and then dropped sharply in the following year.

In value terms, smoked salmon imports fell significantly to $X in 2022. In general, imports, however, continue to indicate strong growth. The pace of growth appeared the most rapid in 2021 when imports increased by 73% against the previous year. As a result, imports attained the peak of $X, and then shrank dramatically in the following year.

Imports by Country

In 2022, Cote d'Ivoire (X tons), distantly followed by Togo (X tons), Senegal (X tons), Mali (X tons), Benin (X tons), Nigeria (X tons) and Cabo Verde (X tons) represented the key importers of smoked pacific, atlantic and danube salmon, together comprising 90% of total imports.

From 2012 to 2022, the biggest increases were recorded for Togo (with a CAGR of +63.4%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, the largest smoked salmon importing markets in Western Africa were Cote d'Ivoire ($X), Senegal ($X) and Nigeria ($X), together comprising 65% of total imports. Mali, Cabo Verde, Benin and Togo lagged somewhat behind, together accounting for a further 23%.

Mali, with a CAGR of +39.6%, saw the highest rates of growth with regard to the value of imports, among the main importing countries over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

The import price in Western Africa stood at $X per ton in 2022, picking up by 2.9% against the previous year. In general, the import price, however, showed a perceptible contraction. The most prominent rate of growth was recorded in 2018 an increase of 12% against the previous year. Over the period under review, import prices reached the maximum at $X per ton in 2012; however, from 2013 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 Nigeria ($X per ton), while Togo ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Cabo Verde (+2.6%), while the other leaders experienced mixed trends in the import price figures.

Source: IndexBox Platform

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