Western Africa: Soap Market 2024

Soap Market Size in Western Africa

In 2021, the West African soap market decreased by -3.4% to $X for the first time since 2018, thus ending a two-year rising trend. The total consumption indicated perceptible growth from 2012 to 2021: its value increased at an average annual rate of +4.4% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, consumption increased by +27.0% against 2018 indices. The level of consumption peaked at $X in 2020, and then fell in the following year.

Soap Production in Western Africa

In value terms, soap production shrank modestly to $X in 2021 estimated in export price. The total production indicated a temperate expansion from 2012 to 2021: its value increased at an average annual rate of +4.6% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, production increased by +25.0% against 2018 indices. The most prominent rate of growth was recorded in 2015 with an increase of 51% against the previous year. The level of production peaked at $X in 2020, and then declined in the following year.

Soap Exports

Exports in Western Africa

In 2021, shipments abroad of soap decreased by -51.7% to X tons, falling for the third year in a row after two years of growth. In general, exports recorded a abrupt setback. The most prominent rate of growth was recorded in 2017 when exports increased by 25% against the previous year. Over the period under review, the exports reached the peak figure at X tons in 2018; however, from 2019 to 2021, the exports remained at a lower figure.

In value terms, soap exports plummeted to $X in 2021. Overall, exports continue to indicate a abrupt decrease. The pace of growth was the most pronounced in 2018 with an increase of 15% against the previous year. Over the period under review, the exports hit record highs at $X in 2013; however, from 2014 to 2021, the exports remained at a lower figure.

Exports by Country

In 2021, Cote d'Ivoire (X tons) represented the main exporter of soap, comprising 55% of total exports. Nigeria (X tons) ranks second in terms of the total exports with a 23% share, followed by Ghana (9.7%) and Senegal (5.5%). Niger (X tons) followed a long way behind the leaders.

Exports from Cote d'Ivoire decreased at an average annual rate of -11.0% from 2012 to 2021. At the same time, Nigeria (+15.5%) and Niger (+1.3%) displayed positive paces of growth. Moreover, Nigeria emerged as the fastest-growing exporter exported in Western Africa, with a CAGR of +15.5% from 2012-2021. Senegal experienced a relatively flat trend pattern. By contrast, Ghana (-3.2%) illustrated a downward trend over the same period. While the share of Nigeria (+20 p.p.), Ghana (+2.9 p.p.), Senegal (+2.5 p.p.) and Niger (+1.6 p.p.) increased significantly in terms of the total exports from 2012-2021, the share of Cote d'Ivoire (-26.8 p.p.) displayed negative dynamics.

In value terms, Cote d'Ivoire ($X) remains the largest soap supplier in Western Africa, comprising 53% of total exports. The second position in the ranking was held by Ghana ($X), with a 13% share of total exports. It was followed by Nigeria, with a 12% share.

From 2012 to 2021, the average annual growth rate of value in Cote d'Ivoire totaled -14.4%. The remaining exporting countries recorded the following average annual rates of exports growth: Ghana (+2.9% per year) and Nigeria (-2.2% per year).

Export Prices by Country

In 2021, the export price in Western Africa amounted to $X per ton, falling by -9.6% against the previous year. Over the period under review, the export price showed a pronounced reduction. The most prominent rate of growth was recorded in 2013 when the export price increased by 13%. As a result, the export price reached the peak level of $X per ton. From 2014 to 2021, the export prices failed to regain momentum.

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

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Ghana (+6.3%), while the other leaders experienced mixed trends in the export price figures.

Soap Imports

Imports in Western Africa

In 2021, supplies from abroad of soap decreased by -22.3% to X tons for the first time since 2018, thus ending a two-year rising trend. The total import volume increased at an average annual rate of +1.4% from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The most prominent rate of growth was recorded in 2013 with an increase of 39% against the previous year. The volume of import peaked at X tons in 2020, and then declined rapidly in the following year.

In value terms, soap imports declined slightly to $X in 2021. Overall, imports, however, saw a relatively flat trend pattern. The pace of growth appeared the most rapid in 2013 with an increase of 30% against the previous year. As a result, imports attained the peak of $X. From 2014 to 2021, the growth of imports remained at a lower figure.

Imports by Country

Ghana represented the key importing country with an import of about X tons, which amounted to 33% of total imports. Mauritania (X tons) ranks second in terms of the total imports with an 11% share, followed by Burkina Faso (8.4%), Senegal (8.2%), Mali (7.1%), Cote d'Ivoire (6.7%), Gambia (5.1%), Nigeria (4.7%) and Togo (4.7%).

From 2012 to 2021, average annual rates of growth with regard to soap imports into Ghana stood at +7.3%. At the same time, Gambia (+26.5%), Mauritania (+12.5%), Cote d'Ivoire (+10.1%), Nigeria (+6.6%) and Mali (+1.4%) displayed positive paces of growth. Moreover, Gambia emerged as the fastest-growing importer imported in Western Africa, with a CAGR of +26.5% from 2012-2021. Togo experienced a relatively flat trend pattern. By contrast, Burkina Faso (-2.5%) and Senegal (-3.0%) illustrated a downward trend over the same period. While the share of Ghana (+13 p.p.), Mauritania (+6.6 p.p.), Gambia (+4.4 p.p.), Cote d'Ivoire (+3.5 p.p.) and Nigeria (+1.7 p.p.) increased significantly in terms of the total imports from 2012-2021, the share of Burkina Faso (-3.5 p.p.) and Senegal (-4 p.p.) displayed negative dynamics. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Ghana ($X) constitutes the largest market for imported soap in Western Africa, comprising 37% of total imports. The second position in the ranking was held by Cote d'Ivoire ($X), with an 11% share of total imports. It was followed by Senegal, with a 9.3% share.

In Ghana, soap imports expanded at an average annual rate of +5.3% over the period from 2012-2021. In the other countries, the average annual rates were as follows: Cote d'Ivoire (+9.7% per year) and Senegal (-1.9% per year).

Import Prices by Country

In 2021, the import price in Western Africa amounted to $X per ton, picking up by 29% against the previous year. Overall, the import price, however, recorded a slight reduction. The level of import peaked at $X per ton in 2012; however, from 2013 to 2021, import prices failed to regain momentum.

There were significant differences in the average prices amongst the major importing countries. In 2021, the country with the highest price was Cote d'Ivoire ($X per ton), while Burkina Faso ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Togo (+3.8%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform

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