Report Update Feb 1, 2025

Western Africa - Vanilla - Market Analysis, Forecast, Size, Trends and Insights

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Western Africa: Vanilla Market 2025

Vanilla Exports

Exports in Western Africa

In 2022, vanilla exports in Western Africa surged to X tons, growing by 5,349% on the previous year's figure. In general, exports recorded significant growth. As a result, the exports attained the peak and are likely to continue growth in the immediate term.

In value terms, vanilla exports soared to $X in 2022. Over the period under review, exports recorded a significant increase. The pace of growth was the most pronounced in 2020 with an increase of 137%. Over the period under review, the exports reached the maximum in 2022 and are expected to retain growth in the near future.

Exports by Country

Nigeria prevails in exports structure, resulting at X tons, which was near 98% of total exports in 2022. Guinea (X tons) took a little share of total exports.

Nigeria experienced a relatively flat trend pattern with regard to volume of exports of vanilla. At the same time, Guinea (+72.9%) displayed positive paces of growth. Moreover, Guinea emerged as the fastest-growing exporter exported in Western Africa, with a CAGR of +72.9% from 2013-2022. Nigeria (+97 p.p.) significantly strengthened its position in terms of the total exports, while the shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Guinea ($X) and Nigeria ($X) constituted the countries with the highest levels of exports in 2022.

Among the main exporting countries, Guinea, with a CAGR of +13.0%, saw the highest growth rate of the value of exports, over the period under review.

Export Prices by Country

In 2022, the export price in Western Africa amounted to $X per ton, reducing by -96.9% against the previous year. Over the period under review, the export price showed a deep reduction. The most prominent rate of growth was recorded in 2021 an increase of 4.4% against the previous year. Over the period under review, the export prices hit record highs at $X per ton in 2017; however, from 2018 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 Guinea ($X per ton), while Nigeria amounted to $X per ton.

From 2013 to 2022, the most notable rate of growth in terms of prices was attained by Guinea (-34.6%).

Vanilla Imports

Imports in Western Africa

After three years of growth, purchases abroad of vanilla decreased by -20.1% to X tons in 2022. Overall, imports, however, showed notable growth. The most prominent rate of growth was recorded in 2020 with an increase of 463%. Over the period under review, imports hit record highs at X tons in 2021, and then reduced rapidly in the following year.

In value terms, vanilla imports contracted to $X in 2022. Over the period under review, imports recorded a abrupt descent. The most prominent rate of growth was recorded in 2015 when imports increased by 134% against the previous year. The level of import peaked at $X in 2012; however, from 2013 to 2022, imports stood at a somewhat lower figure.

Imports by Country

Senegal represented the major importer of vanilla in Western Africa, with the volume of imports resulting at X tons, which was approx. 76% of total imports in 2022. It was distantly followed by Cote d'Ivoire (X tons), creating a 16% share of total imports. The following importers - Benin (X tons) and Ghana (X tons) - each accounted for a 4.4% share of total imports.

From 2012 to 2022, average annual rates of growth with regard to vanilla imports into Senegal stood at +7.0%. At the same time, Cote d'Ivoire (+27.6%) and Ghana (+15.2%) displayed positive paces of growth. Moreover, Cote d'Ivoire emerged as the fastest-growing importer imported in Western Africa, with a CAGR of +27.6% from 2012-2022. By contrast, Benin (-5.1%) illustrated a downward trend over the same period. From 2012 to 2022, the share of Senegal and Cote d'Ivoire increased by +20 and +16 percentage points, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Ghana ($X), Cote d'Ivoire ($X) and Senegal ($X) appeared to be the countries with the highest levels of imports in 2022, with a combined 62% share of total imports.

Ghana, with a CAGR of +29.5%, recorded the highest rates of growth with regard to the value of imports, in terms of the main importing countries over the period under review, while purchases for the other leaders experienced a decline in the imports figures.

Import Prices by Country

The import price in Western Africa stood at $X per ton in 2022, picking up by 15% against the previous year. Overall, the import price, however, faced a sharp decrease. The pace of growth was the most pronounced in 2016 when the import price increased by 99%. As a result, import price attained the peak level of $X per ton. From 2017 to 2022, the import prices remained at a 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 ($X per ton), while Senegal ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Ghana (+12.4%), while the other leaders experienced a decline in the import price figures.

Source: IndexBox Platform

Frequently Asked Questions (FAQ) :

What are the largest markets for vanilla in Western Africa?

The country with the largest volume of vanilla consumption was Senegal, accounting for 84% of total volume. Moreover, vanilla consumption in Senegal exceeded the figures recorded by the second-largest consumer, Cote d'Ivoire, more than tenfold.

What are the leading exporters of vanilla in Western Africa?

In value terms, Senegal remains the largest vanilla supplier in Western Africa, comprising 13% of total exports. The second position in the ranking was occupied by Cote d'Ivoire, with a 2.2% share of total exports.

What are the leading importers of vanilla in Western Africa?

In value terms, Ghana constitutes the largest market for imported vanilla in Western Africa, comprising 36% of total imports. The second position in the ranking was occupied by Senegal, with a 16% share of total imports.

What is the average export price for vanilla in Western Africa?

The vanilla export price in Western Africa stood at $22 per kg in 2020, with a decrease of -14.1% against the previous year.

What is the average import price for vanilla in Western Africa?

In 2020, the vanilla import price in Western Africa amounted to $598 per ton, dropping by -86% against the previous year.

This report provides an in-depth analysis of the vanilla market in Western Africa. Within it, you will discover the latest data on market trends and opportunities by country, consumption, production and price developments, as well as the global trade (imports and exports). The forecast exhibits the market prospects through 2030.

Product coverage:

FCL 692 - Vanilla

Country coverage:

Benin
Burkina Faso
Cabo Verde
Gambia
Ghana
Guinea
Guinea-Bissau
Liberia
Mali
Mauritania
Niger
Nigeria
Saint Helena, Ascension and Tristan da Cunha
Senegal
Sierra Leone
Togo
Cote d'Ivoire

Data coverage:

Market volume and value
Per Capita consumption
Forecast of the market dynamics in the medium term
Production in Western Africa, split by region and country
Trade (exports and imports) in Western Africa
Export and import prices
Market trends, drivers and restraints
Key market players and their profiles

Reasons to buy this report:

Take advantage of the latest data
Find deeper insights into current market developments
Discover vital success factors affecting the market

This report is designed for manufacturers, distributors, importers, and wholesalers, as well as for investors, consultants and advisors.

In this report, you can find information that helps you to make informed decisions on the following issues:

How to diversify your business and benefit from new market opportunities
How to load your idle production capacity
How to boost your sales on overseas markets
How to increase your profit margins
How to make your supply chain more sustainable
How to reduce your production and supply chain costs
How to outsource production to other countries
How to prepare your business for global expansion

While doing this research, we combine the accumulated expertise of our analysts and the capabilities of artificial intelligence. The AI-based platform, developed by our data scientists, constitutes the key working tool for business analysts, empowering them to discover deep insights and ideas from the marketing data.

1. INTRODUCTION

Making Data-Driven Decisions to Grow Your Business
1. REPORT DESCRIPTION
2. RESEARCH METHODOLOGY AND AI PLATFORM
3. DATA-DRIVEN DECISIONS FOR YOUR BUSINESS
4. GLOSSARY AND SPECIFIC TERMS
2. EXECUTIVE SUMMARY

A Quick Overview of Market Performance
1. KEY FINDINGS
2. MARKET TRENDS This Chapter is Available Only for the Professional Edition PRO
3. MARKET OVERVIEW

Understanding the Current State of The Market and Its Prospects
1. MARKET SIZE
2. CONSUMPTION BY COUNTRY
3. MARKET FORECAST TO 2030
4. MOST PROMISING PRODUCT

Finding New Products to Diversify Your Business
This Chapter is Available Only for the Professional Edition PRO
1. TOP PRODUCTS TO DIVERSIFY YOUR BUSINESS
2. BEST-SELLING PRODUCTS
3. MOST CONSUMED PRODUCT
4. MOST TRADED PRODUCT
5. MOST PROFITABLE PRODUCT FOR EXPORT
5. MOST PROMISING SUPPLYING COUNTRIES

Choosing the Best Countries to Establish Your Sustainable Supply Chain
This Chapter is Available Only for the Professional Edition PRO
1. TOP COUNTRIES TO SOURCE YOUR PRODUCT
2. TOP PRODUCING COUNTRIES
3. TOP EXPORTING COUNTRIES
4. LOW-COST EXPORTING COUNTRIES
6. MOST PROMISING OVERSEAS MARKETS

Choosing the Best Countries to Boost Your Exports
This Chapter is Available Only for the Professional Edition PRO
1. TOP OVERSEAS MARKETS FOR EXPORTING YOUR PRODUCT
2. TOP CONSUMING MARKETS
3. UNSATURATED MARKETS
4. TOP IMPORTING MARKETS
5. MOST PROFITABLE MARKETS
7. PRODUCTION

The Latest Trends and Insights into The Industry
1. PRODUCTION VOLUME AND VALUE
2. PRODUCTION BY COUNTRY
8. IMPORTS
The Largest Importers on The Market and How They Succeed
1. IMPORTS FROM 2012–2024
2. IMPORTS BY COUNTRY
3. IMPORT PRICES BY COUNTRY
9. EXPORTS
The Largest Exporters on The Market and How They Succeed
1. EXPORTS FROM 2012–2024
2. EXPORTS BY COUNTRY
3. EXPORT PRICES BY COUNTRY
10. PROFILES OF MAJOR PRODUCERS

The Largest Producers on The Market and Their Profiles
This Chapter is Available Only for the Professional Edition PRO
11. COUNTRY PROFILES

The Largest Markets And Their Profiles
This Chapter is Available Only for the Professional Edition PRO
- Benin
- Burkina Faso
- Cabo Verde
- Gambia
- Ghana
- Guinea
- Guinea-Bissau
- Liberia
- Mali
- Mauritania
- Niger
- Nigeria
- Saint Helena, Ascension and Tristan da Cunha
- Senegal
- Sierra Leone
- Togo
- Cote d'Ivoire
LIST OF TABLES
1. Key Findings In 2024
2. Market Volume, In Physical Terms, 2012–2024
3. Market Value, 2012–2024
4. Per Capita Consumption, By Country, 2018–2024
5. Production, In Physical Terms, By Country, 2012–2024
6. Imports, In Physical Terms, By Country, 2012–2024
7. Imports, In Value Terms, By Country, 2012–2024
8. Import Prices, By Country Of Destination, 2012–2024
9. Exports, In Physical Terms, By Country, 2012–2024
10. Exports, In Value Terms, By Country, 2012–2024
11. Export Prices, By Country Of Origin, 2012–2024
LIST OF FIGURES
1. Market Volume, In Physical Terms, 2012–2024
2. Market Value, 2012–2024
3. Consumption, By Country, 2024
4. Market Volume Forecast to 2030
5. Market Value Forecast to 2030
6. Products: Market Size And Growth, By Type
7. Products: Average Per Capita Consumption, By Type
8. Products: Exports And Growth, By Type
9. Products: Export Prices And Growth, By Type
10. Production Volume And Growth
11. Exports And Growth
12. Export Prices And Growth
13. Market Size And Growth
14. Per Capita Consumption
15. Imports And Growth
16. Import Prices
17. Production, In Physical Terms, 2012–2024
18. Production, In Value Terms, 2012–2024
19. Production, By Country, 2024
20. Production, In Physical Terms, By Country, 2012–2024
21. Imports, In Physical Terms, 2012–2024
22. Imports, In Value Terms, 2012–2024
23. Imports, In Physical Terms, By Country, 2024
24. Imports, In Physical Terms, By Country, 2012–2024
25. Imports, In Value Terms, By Country, 2012–2024
26. Import Prices, By Country, 2012–2024
27. Exports, In Physical Terms, 2012–2024
28. Exports, In Value Terms, 2012–2024
29. Exports, In Physical Terms, By Country, 2024
30. Exports, In Physical Terms, By Country, 2012–2024
31. Exports, In Value Terms, By Country, 2012–2024
32. Export Prices, 2012–2024