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ECOWAS - Fish Fats and Oils - Market Analysis, Forecast, Size, Trends and Insights
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View PricingECOWAS: Market for Fish Fats And Oils 2024
Market Size for Fish Fats And Oils in ECOWAS
The ECOWAS fish fat and oil market expanded slightly to $X in 2022, picking up by X% against the previous year. Overall, consumption saw a buoyant expansion. Over the period under review, the market reached the maximum level at $X in 2020; however, from 2021 to 2022, consumption remained at a lower figure.
Production of Fish Fats And Oils in ECOWAS
In value terms, fish fat and oil production totaled $X in 2022 estimated in export price. Over the period under review, production recorded a strong increase. The most prominent rate of growth was recorded in 2019 with an increase of X%. The level of production peaked at $X in 2020; however, from 2021 to 2022, production remained at a lower figure.
Exports of Fish Fats And Oils
Exports in ECOWAS
Fish fat and oil exports skyrocketed to X tons in 2022, with an increase of X% on 2021 figures. Over the period under review, exports showed strong growth. The most prominent rate of growth was recorded in 2019 when exports increased by X% against the previous year. As a result, the exports attained the peak of X tons. From 2020 to 2022, the growth of the exports remained at a lower figure.
In value terms, fish fat and oil exports soared to $X in 2022. In general, exports recorded a prominent increase. The growth pace was the most rapid in 2014 with an increase of X%. Over the period under review, the exports hit record highs at $X in 2019; however, from 2020 to 2022, the exports remained at a lower figure.
Exports by Country
Senegal represented the key exporter of fish fats and oils in ECOWAS, with the volume of exports amounting to X tons, which was near X% of total exports in 2022. Guinea-Bissau (X tons) held the second position in the ranking, followed by Guinea (X tons) and Cote d'Ivoire (X tons). All these countries together held approx. X% share of total exports. Cabo Verde (X tons), Ghana (X tons) and Gambia (X tons) held a relatively small share of total exports.
Senegal was also the fastest-growing in terms of the fish fats and oils exports, with a CAGR of X% from 2012 to 2022. At the same time, Ghana (X%) displayed positive paces of growth. Cabo Verde and Gambia experienced a relatively flat trend pattern. By contrast, Cote d'Ivoire (X%), Guinea-Bissau (X%) and Guinea (X%) illustrated a downward trend over the same period. While the share of Senegal (X p.p.), Guinea-Bissau (X p.p.), Guinea (X p.p.) and Cabo Verde (X p.p.) increased significantly in terms of the total exports from 2012-2022, the share of Ghana (X p.p.), Gambia (X p.p.) and Cote d'Ivoire (X p.p.) displayed negative dynamics.
In value terms, Senegal ($X) remains the largest fish fat and oil supplier in ECOWAS, comprising X% of total exports. The second position in the ranking was taken by Guinea-Bissau ($X), with a X% share of total exports. It was followed by Cote d'Ivoire, with an X% share.
In Senegal, fish fat and oil exports increased at an average annual rate of X% over the period from 2012-2022. The remaining exporting countries recorded the following average annual rates of exports growth: Guinea-Bissau (X% per year) and Cote d'Ivoire (X% per year).
Export Prices by Country
The export price in ECOWAS stood at $X per ton in 2022, picking up by X% against the previous year. In general, the export price, however, continues to indicate a pronounced slump. The growth pace was the most rapid in 2018 an increase of X% against the previous year. Over the period under review, the export prices hit record highs at $X per ton in 2014; however, from 2015 to 2022, the export prices failed to regain momentum.
Prices varied noticeably by country of origin: amid the top suppliers, the country with the highest price was Ghana ($X per ton), while Guinea ($X per ton) was amongst the lowest.
From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Senegal (X%), while the other leaders experienced more modest paces of growth.
Imports of Fish Fats And Oils
Imports in ECOWAS
In 2022, purchases abroad of fish fats and oils decreased by X% to X tons for the first time since 2018, thus ending a three-year rising trend. Over the period under review, imports, however, enjoyed a prominent increase. The most prominent rate of growth was recorded in 2020 when imports increased by X% against the previous year. Over the period under review, imports attained the peak figure at X tons in 2021, and then reduced notably in the following year.
In value terms, fish fat and oil imports surged to $X in 2022. Overall, imports, however, recorded a buoyant expansion. The pace of growth appeared the most rapid in 2020 when imports increased by X%. Over the period under review, imports reached the maximum in 2022 and are likely to see gradual growth in years to come.
Imports by Country
Nigeria represented the major importer of fish fats and oils in ECOWAS, with the volume of imports accounting for X tons, which was approx. X% of total imports in 2022. It was distantly followed by Ghana (X tons), generating a X% share of total imports.
Nigeria was also the fastest-growing in terms of the fish fats and oils imports, with a CAGR of X% from 2012 to 2022. At the same time, Ghana (X%) displayed positive paces of growth. Nigeria (X p.p.) significantly strengthened its position in terms of the total imports, while Ghana saw its share reduced by X% from 2012 to 2022, respectively.
In value terms, Nigeria ($X) constitutes the largest market for imported fish fats and oils in ECOWAS, comprising X% of total imports. The second position in the ranking was held by Ghana ($X), with an X% share of total imports.
In Nigeria, fish fat and oil imports expanded at an average annual rate of X% over the period from 2012-2022.
Import Prices by Country
In 2022, the import price in ECOWAS amounted to $X per ton, picking up by X% against the previous year. Overall, the import price, however, saw a mild descent. The level of import peaked at $X per ton in 2014; however, from 2015 to 2022, import prices failed to regain momentum.
Average prices varied somewhat amongst the major importing countries. In 2022, amid the top importers, the country with the highest price was Nigeria ($X per ton), while Ghana stood at $X per ton.
From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Ghana (X%).
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Frequently Asked Questions (FAQ) :
This report provides an in-depth analysis of the market for fish fat and oil in ECOWAS. 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:
- Prodcom 10411200 - Fats and oils and their fractions of fish or marine mammals (excluding chemically modified)
Country coverage:
- Benin
- Burkina Faso
- Cabo Verde
- Cote d'Ivoire
- Gambia
- Ghana
- Guinea
- Guinea-Bissau
- Liberia
- Mali
- Niger
- Nigeria
- Senegal
- Sierra Leone
- Togo
Data coverage:
- Market volume and value
- Per Capita consumption
- Forecast of the market dynamics in the medium term
- Production in ECOWAS, split by region and country
- Trade (exports and imports) in ECOWAS
- 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.
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1. INTRODUCTION
Making Data-Driven Decisions to Grow Your Business
- REPORT DESCRIPTION
- RESEARCH METHODOLOGY AND AI PLATFORM
- DATA-DRIVEN DECISIONS FOR YOUR BUSINESS
- GLOSSARY AND SPECIFIC TERMS
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2. EXECUTIVE SUMMARY
A Quick Overview of Market Performance
- KEY FINDINGS
- MARKET TRENDS This Chapter is Available Only for the Professional Edition PRO
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3. MARKET OVERVIEW
Understanding the Current State of The Market and Its Prospects
- MARKET SIZE
- CONSUMPTION BY COUNTRY
- MARKET FORECAST TO 2030
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4. MOST PROMISING PRODUCT
Finding New Products to Diversify Your Business
This Chapter is Available Only for the Professional Edition PRO- TOP PRODUCTS TO DIVERSIFY YOUR BUSINESS
- BEST-SELLING PRODUCTS
- MOST CONSUMED PRODUCT
- MOST TRADED PRODUCT
- MOST PROFITABLE PRODUCT FOR EXPORT
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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- TOP COUNTRIES TO SOURCE YOUR PRODUCT
- TOP PRODUCING COUNTRIES
- TOP EXPORTING COUNTRIES
- LOW-COST EXPORTING COUNTRIES
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6. MOST PROMISING OVERSEAS MARKETS
Choosing the Best Countries to Boost Your Exports
This Chapter is Available Only for the Professional Edition PRO- TOP OVERSEAS MARKETS FOR EXPORTING YOUR PRODUCT
- TOP CONSUMING MARKETS
- UNSATURATED MARKETS
- TOP IMPORTING MARKETS
- MOST PROFITABLE MARKETS
7. PRODUCTION
The Latest Trends and Insights into The Industry
- PRODUCTION VOLUME AND VALUE
- PRODUCTION BY COUNTRY
8. IMPORTS
The Largest Importers on The Market and How They Succeed
- IMPORTS FROM 2012–2023
- IMPORTS BY COUNTRY
- IMPORT PRICES BY COUNTRY
9. EXPORTS
The Largest Exporters on The Market and How They Succeed
- EXPORTS FROM 2012–2023
- EXPORTS BY COUNTRY
- EXPORT PRICES BY COUNTRY
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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
- Niger
- Nigeria
- Senegal
- Sierra Leone
- Togo
- Cote d'Ivoire
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LIST OF TABLES
- Key Findings In 2023
- Market Volume, In Physical Terms, 2012–2023
- Market Value, 2012–2023
- Per Capita Consumption, By Country, 2018–2023
- Production, In Physical Terms, By Country, 2012–2023
- Imports, In Physical Terms, By Country, 2012–2023
- Imports, In Value Terms, By Country, 2012–2023
- Import Prices, By Country Of Destination, 2012–2023
- Exports, In Physical Terms, By Country, 2012–2023
- Exports, In Value Terms, By Country, 2012–2023
- Export Prices, By Country Of Origin, 2012–2023
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LIST OF FIGURES
- Market Volume, In Physical Terms, 2012–2023
- Market Value, 2012–2023
- Consumption, By Country, 2023
- Market Volume Forecast to 2030
- Market Value Forecast to 2030
- Products: Market Size And Growth, By Type
- Products: Average Per Capita Consumption, By Type
- Products: Exports And Growth, By Type
- Products: Export Prices And Growth, By Type
- Production Volume And Growth
- Exports And Growth
- Export Prices And Growth
- Market Size And Growth
- Per Capita Consumption
- Imports And Growth
- Import Prices
- Production, In Physical Terms, 2012–2023
- Production, In Value Terms, 2012–2023
- Production, By Country, 2023
- Production, In Physical Terms, By Country, 2012–2023
- Imports, In Physical Terms, 2012–2023
- Imports, In Value Terms, 2012–2023
- Imports, In Physical Terms, By Country, 2023
- Imports, In Physical Terms, By Country, 2012–2023
- Imports, In Value Terms, By Country, 2012–2023
- Import Prices, By Country, 2012–2023
- Exports, In Physical Terms, 2012–2023
- Exports, In Value Terms, 2012–2023
- Exports, In Physical Terms, By Country, 2023
- Exports, In Physical Terms, By Country, 2012–2023
- Exports, In Value Terms, By Country, 2012–2023
- Export Prices, 2012–2023
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