ECOWAS: Cheese Market 2024

Cheese Market Size in ECOWAS

The ECOWAS cheese market surged to $X in 2023, with an increase of X% against the previous year. Overall, consumption, however, showed a perceptible descent. Over the period under review, the market attained the peak level at $X in 2014; however, from 2015 to 2023, consumption remained at a lower figure.

Cheese Production in ECOWAS

In value terms, cheese production skyrocketed to $X in 2023 estimated in export price. In general, production showed a perceptible contraction. The pace of growth appeared the most rapid in 2021 when the production volume increased by X%. Over the period under review, production attained the maximum level at $X in 2014; however, from 2015 to 2023, production remained at a lower figure.

Cheese Exports

Exports in ECOWAS

Cheese exports skyrocketed to X tons in 2023, rising by X% against 2022. Overall, exports showed resilient growth. Over the period under review, the exports hit record highs at X tons in 2016; however, from 2017 to 2023, the exports stood at a somewhat lower figure.

In value terms, cheese exports skyrocketed to $X in 2023. In general, exports saw a prominent expansion. The level of export peaked at $X in 2014; however, from 2015 to 2023, the exports stood at a somewhat lower figure.

Exports by Country

Gambia represented the largest exporting country with an export of about X tons, which finished at X% of total exports. Cote d'Ivoire (X tons) took an X% share (based on physical terms) of total exports, which put it in second place, followed by Senegal (X%) and Togo (X%). Ghana (X tons), Nigeria (X tons) and Burkina Faso (X tons) took a little share of total exports.

Gambia was also the fastest-growing in terms of the cheese exports, with a CAGR of X% from 2012 to 2023. At the same time, Cote d'Ivoire (X%), Togo (X%) and Ghana (X%) displayed positive paces of growth. Senegal experienced a relatively flat trend pattern. By contrast, Nigeria (X%) and Burkina Faso (X%) illustrated a downward trend over the same period. While the share of Gambia (X p.p.), Cote d'Ivoire (X p.p.) and Burkina Faso (X p.p.) increased significantly in terms of the total exports from 2012-2023, the share of Ghana (X p.p.), Nigeria (X p.p.) and Senegal (X p.p.) displayed negative dynamics. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Gambia ($X) emerged as the largest cheese supplier in ECOWAS, comprising X% of total exports. The second position in the ranking was held by Senegal ($X), with a X% share of total exports. It was followed by Cote d'Ivoire, with a X% share.

In Gambia, cheese exports expanded at an average annual rate of X% over the period from 2012-2023. The remaining exporting countries recorded the following average annual rates of exports growth: Senegal (X% per year) and Cote d'Ivoire (X% per year).

Export Prices by Country

In 2023, the export price in ECOWAS amounted to $X per ton, leveling off at the previous year. Over the period under review, the export price, however, showed a relatively flat trend pattern. The most prominent rate of growth was recorded in 2017 an increase of X% against the previous year. The level of export peaked at $X per ton in 2014; however, from 2015 to 2023, the export prices failed to regain momentum.

There were significant differences in the average prices amongst the major exporting countries. In 2023, amid the top suppliers, the country with the highest price was Burkina Faso ($X per ton), while Ghana ($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.

Cheese Imports

Imports in ECOWAS

In 2023, cheese imports in ECOWAS surged to X tons, growing by X% on the year before. The total import volume increased at an average annual rate of X% from 2012 to 2023; the trend pattern remained consistent, with only minor fluctuations being observed in certain years. As a result, imports reached the peak and are likely to continue growth in the immediate term.

In value terms, cheese imports stood at $X in 2023. The total import value increased at an average annual rate of X% over the period from 2012 to 2023; the trend pattern remained consistent, with only minor fluctuations being recorded throughout the analyzed period. The pace of growth was the most pronounced in 2018 with an increase of X%. The level of import peaked in 2023 and is expected to retain growth in years to come.

Imports by Country

In 2023, Senegal (X tons), distantly followed by Ghana (X tons), Cote d'Ivoire (X tons), Nigeria (X tons) and Cabo Verde (X tons) represented the major importers of cheese, together generating X% of total imports. The following importers - Burkina Faso (X tons), Mali (X tons), Benin (X tons), Guinea (X tons), Togo (X tons), Sierra Leone (X tons) and Liberia (X tons) - together made up X% of total imports.

From 2012 to 2023, the most notable rate of growth in terms of purchases, amongst the leading importing countries, was attained by Guinea (with a CAGR of X%), while imports for the other leaders experienced more modest paces of growth.

In value terms, Senegal ($X), Cote d'Ivoire ($X) and Ghana ($X) constituted the countries with the highest levels of imports in 2023, together comprising X% of total imports. Cabo Verde, Nigeria, Mali, Guinea, Benin, Sierra Leone, Burkina Faso, Liberia and Togo lagged somewhat behind, together comprising a further X%.

In terms of the main importing countries, Guinea, with a CAGR of X%, recorded the highest growth rate of 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 2023, the import price in ECOWAS amounted to $X per ton, reducing by X% against the previous year. In general, the import price showed a mild decline. The most prominent rate of growth was recorded in 2022 an increase of X% against the previous year. The level of import peaked at $X per ton in 2014; however, from 2015 to 2023, import prices remained at a lower figure.

There were significant differences in the average prices amongst the major importing countries. In 2023, amid the top importers, the country with the highest price was Mali ($X per ton), while Burkina Faso ($X per ton) was amongst the lowest.

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

Source: IndexBox Platform