Western Africa: Whisky Market 2024

Whisky Market Size in Western Africa

The West African whisky market fell slightly to $X in 2022, with a decrease of -4.9% against the previous year. Over the period under review, consumption recorded resilient growth. Over the period under review, the market hit record highs at $X in 2021, and then fell modestly in the following year.

Whisky Production in Western Africa

In value terms, whisky production expanded notably to $X in 2022 estimated in export price. In general, production enjoyed a buoyant expansion. The most prominent rate of growth was recorded in 2015 when the production volume increased by 150%. The level of production peaked at $X in 2020; however, from 2021 to 2022, production stood at a somewhat lower figure.

Whisky Exports

Exports in Western Africa

After four years of decline, shipments abroad of whisky increased by 15% to X litres in 2022. In general, exports, however, showed a deep downturn. The most prominent rate of growth was recorded in 2017 when exports increased by 59%. As a result, the exports attained the peak of X litres. From 2018 to 2022, the growth of the exports failed to regain momentum.

In value terms, whisky exports rose to $X in 2022. Overall, exports, however, showed a abrupt descent. The most prominent rate of growth was recorded in 2015 with an increase of 67%. As a result, the exports reached the peak of $X. From 2016 to 2022, the growth of the exports remained at a somewhat lower figure.

Exports by Country

In 2022, Cote d'Ivoire (X litres) represented the major exporter of whisky, committing 39% of total exports. It was distantly followed by Burkina Faso (X litres), Togo (X litres), Niger (X litres) and Ghana (X litres), together committing a 52% share of total exports. The following exporters - Senegal (X litres) and Nigeria (X litres) - together made up 5.8% of total exports.

From 2012 to 2022, the biggest increases were recorded for Nigeria (with a CAGR of +44.8%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, Burkina Faso ($X) remains the largest whisky supplier in Western Africa, comprising 40% of total exports. The second position in the ranking was taken by Cote d'Ivoire ($X), with an 18% share of total exports. It was followed by Senegal, with a 16% share.

In Burkina Faso, whisky exports remained relatively stable over the period from 2012-2022. In the other countries, the average annual rates were as follows: Cote d'Ivoire (+31.3% per year) and Senegal (-2.5% per year).

Export Prices by Country

The export price in Western Africa stood at $X per litre in 2022, with a decrease of -11.1% against the previous year. Overall, the export price, however, recorded a noticeable expansion. The most prominent rate of growth was recorded in 2020 an increase of 72% against the previous year. Over the period under review, the export prices attained the maximum at $X per litre in 2021, and then contracted in the following year.

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 ($X per litre), while Niger ($X per litre) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Senegal (+5.3%), while the other leaders experienced more modest paces of growth.

Whisky Imports

Imports in Western Africa

In 2022, the amount of whisky imported in Western Africa surged to X litres, jumping by 15% against the year before. Overall, imports enjoyed a strong expansion. The most prominent rate of growth was recorded in 2019 with an increase of 61%. Over the period under review, imports reached the maximum in 2022 and are likely to see gradual growth in the immediate term.

In value terms, whisky imports contracted to $X in 2022. Total imports indicated a resilient expansion from 2012 to 2022: its value increased at an average annual rate of +5.4% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports increased by +66.6% against 2017 indices. The most prominent rate of growth was recorded in 2021 with an increase of 53% against the previous year. As a result, imports attained the peak of $X, and then fell in the following year.

Imports by Country

In 2022, Nigeria (X litres), distantly followed by Burkina Faso (X litres), Ghana (X litres) and Togo (X litres) were the main importers of whisky, together creating 91% of total imports. Cote d'Ivoire (X litres) and Guinea (X litres) followed a long way behind the leaders.

From 2012 to 2022, the biggest increases were recorded for Guinea (with a CAGR of +16.0%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, the largest whisky importing markets in Western Africa were Nigeria ($X), Ghana ($X) and Cote d'Ivoire ($X), with a combined 76% share of total imports. Burkina Faso, Togo and Guinea lagged somewhat behind, together accounting for a further 12%.

In terms of the main importing countries, Togo, with a CAGR of +14.9%, recorded the highest rates of growth with regard to the value of imports, over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

In 2022, the import price in Western Africa amounted to $X per litre, which is down by -22.4% against the previous year. In general, the import price recorded a relatively flat trend pattern. The pace of growth was the most pronounced in 2014 an increase of 38% against the previous year. The level of import peaked at $X per litre in 2018; however, from 2019 to 2022, import prices stood 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 Cote d'Ivoire ($X per litre), while Burkina Faso ($X per litre) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Togo (+13.5%), while the other leaders experienced mixed trends in the import price figures.

Source: IndexBox Platform

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