Western Africa: Frozen Crustaceans Market 2024

Frozen Crustaceans Market Size in Western Africa

The West African frozen crustaceans market reached $X in 2023, picking up by X% against the previous year. Overall, consumption continues to indicate a buoyant expansion. Over the period under review, the market reached the peak level at $X in 2021; however, from 2022 to 2023, consumption remained at a lower figure.

Frozen Crustaceans Production in Western Africa

In value terms, frozen crustaceans production expanded markedly to $X in 2023 estimated in export price. In general, production continues to indicate a remarkable increase. The most prominent rate of growth was recorded in 2017 with an increase of X%. Over the period under review, production attained the maximum level at $X in 2021; however, from 2022 to 2023, production stood at a somewhat lower figure.

Frozen Crustaceans Exports

Exports in Western Africa

In 2023, overseas shipments of frozen crustaceans decreased by X% to X tons for the first time since 2020, thus ending a two-year rising trend. In general, exports showed a abrupt curtailment. The most prominent rate of growth was recorded in 2017 with an increase of X% against the previous year. The volume of export peaked at X tons in 2013; however, from 2014 to 2023, the exports remained at a lower figure.

In value terms, frozen crustaceans exports expanded sharply to $X in 2023. Overall, exports continue to indicate a abrupt descent. The most prominent rate of growth was recorded in 2018 with an increase of X% against the previous year. Over the period under review, the exports attained the peak figure at $X in 2012; however, from 2013 to 2023, the exports failed to regain momentum.

Exports by Country

In 2023, Senegal (X tons) and Nigeria (X tons) were the key exporters of frozen crustaceans in Western Africa, together reaching approx. X% of total exports. It was distantly followed by Mauritania (X tons), achieving a X% share of total exports. Gambia (X tons) followed a long way behind the leaders.

From 2012 to 2023, the most notable rate of growth in terms of shipments, amongst the key exporting countries, was attained by Gambia (with a CAGR of X%), while the other leaders experienced mixed trends in the exports figures.

In value terms, the largest frozen crustaceans supplying countries in Western Africa were Nigeria ($X), Senegal ($X) and Mauritania ($X), with a combined X% share of total exports. These countries were followed by Gambia, which accounted for a further X%.

Gambia, with a CAGR of X%, saw the highest rates of growth with regard to the value of exports, in terms of the main exporting countries over the period under review, while shipments for the other leaders experienced mixed trends in the exports figures.

Export Prices by Country

In 2023, the export price in Western Africa amounted to $X per ton, picking up by X% against the previous year. In general, the export price, however, continues to indicate a perceptible decrease. The pace of growth appeared the most rapid in 2018 an increase of X% against the previous year. The level of export peaked at $X per ton in 2012; however, from 2013 to 2023, the export prices failed to regain momentum.

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

From 2012 to 2023, the most notable rate of growth in terms of prices was attained by Senegal (X%), while the other leaders experienced a decline in the export price figures.

Frozen Crustaceans Imports

Imports in Western Africa

In 2023, imports of frozen crustaceans in Western Africa dropped significantly to X tons, waning by X% against 2022 figures. Overall, imports, however, enjoyed a resilient expansion. The most prominent rate of growth was recorded in 2013 with an increase of X%. The volume of import peaked at X tons in 2021; however, from 2022 to 2023, imports stood at a somewhat lower figure.

In value terms, frozen crustaceans imports reduced rapidly to $X in 2023. In general, imports, however, showed buoyant growth. The most prominent rate of growth was recorded in 2013 when imports increased by X% against the previous year. As a result, imports attained the peak of $X. From 2014 to 2023, the growth of imports remained at a lower figure.

Imports by Country

Mali represented the largest importer of frozen crustaceans in Western Africa, with the volume of imports accounting for X tons, which was approx. X% of total imports in 2023. Cabo Verde (X tons) ranks second in terms of the total imports with a X% share, followed by Ghana (X%), Cote d'Ivoire (X%) and Nigeria (X%). Burkina Faso (X tons) and Liberia (X tons) followed a long way behind the leaders.

Mali was also the fastest-growing in terms of the frozen crustaceans imports, with a CAGR of X% from 2012 to 2023. At the same time, Burkina Faso (X%), Cote d'Ivoire (X%), Ghana (X%) and Liberia (X%) displayed positive paces of growth. Cabo Verde experienced a relatively flat trend pattern. By contrast, Nigeria (X%) illustrated a downward trend over the same period. Mali (X p.p.), Ghana (X p.p.), Cote d'Ivoire (X p.p.) and Burkina Faso (X p.p.) significantly strengthened its position in terms of the total imports, while Cabo Verde and Nigeria saw its share reduced by X% and X% from 2012 to 2023, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Mali ($X), Cabo Verde ($X) and Cote d'Ivoire ($X) were the countries with the highest levels of imports in 2023, together comprising X% of total imports.

Mali, with a CAGR of X%, 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 more modest paces of growth.

Import Prices by Country

The import price in Western Africa stood at $X per ton in 2023, rising by X% against the previous year. Overall, the import price, however, recorded a mild decline. The most prominent rate of growth was recorded in 2013 when the import price increased by X%. As a result, import price attained the peak level of $X per ton. From 2014 to 2023, the import prices remained at a lower figure.

Prices varied noticeably by country of destination: amid the top importers, the country with the highest price was Liberia ($X per ton), while Ghana ($X per ton) was amongst the lowest.

From 2012 to 2023, the most notable rate of growth in terms of prices was attained by Burkina Faso (X%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform