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ECOWAS - Vanilla - Market Analysis, Forecast, Size, Trends and Insights
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View PricingECOWAS: Vanilla Market 2024
Vanilla Market Size in ECOWAS
The ECOWAS vanilla market skyrocketed to $X in 2023, surging by X% against the previous year. Overall, consumption, however, showed prominent growth. Over the period under review, the market hit record highs at $X in 2021; however, from 2022 to 2023, consumption stood at a somewhat lower figure.
Vanilla Production in ECOWAS
In value terms, vanilla production skyrocketed to $X in 2023 estimated in export price. In general, production posted buoyant growth. The most prominent rate of growth was recorded in 2016 when the production volume increased by X%. Over the period under review, production hit record highs in 2023 and is likely to continue growth in years to come.
Senegal (X tons) remains the largest vanilla producing country in ECOWAS, comprising approx. X% of total volume. Moreover, vanilla production in Senegal exceeded the figures recorded by the second-largest producer, Guinea (X kg), threefold.
From 2012 to 2023, the average annual rate of growth in terms of volume in Senegal stood at X%.
Vanilla Exports
Exports in ECOWAS
Vanilla exports soared to X tons in 2023, jumping by X% compared with the year before. Over the period under review, exports showed a significant increase. The most prominent rate of growth was recorded in 2018 with an increase of X%. Over the period under review, the exports attained the maximum in 2023 and are expected to retain growth in years to come.
In value terms, vanilla exports skyrocketed to $X in 2023. In general, exports showed significant growth. The pace of growth was the most pronounced in 2020 with an increase of X% against the previous year. The level of export peaked in 2023 and is likely to see steady growth in years to come.
Exports by Country
In 2023, Senegal (X tons) was the major exporter of vanilla, generating X% of total exports. It was distantly followed by Guinea (X kg), generating a X% share of total exports. The following exporters - Cote d'Ivoire (X kg) and Ghana (X kg) - each finished at a X% share of total exports.
Senegal was also the fastest-growing in terms of the vanilla exports, with a CAGR of X% from 2013 to 2023. At the same time, Guinea (X%) and Ghana (X%) displayed positive paces of growth. Cote d'Ivoire experienced a relatively flat trend pattern. While the share of Guinea (X p.p.), Cote d'Ivoire (X p.p.) and Ghana (X p.p.) increased significantly in terms of the total exports from 2013-2023, the share of Senegal (X p.p.) displayed negative dynamics.
In value terms, Guinea ($X) remains the largest vanilla supplier in ECOWAS, comprising X% of total exports. The second position in the ranking was held by Ghana ($X), with a X% share of total exports. It was followed by Senegal, with an X% share.
From 2013 to 2023, the average annual growth rate of value in Guinea stood at X%. The remaining exporting countries recorded the following average annual rates of exports growth: Ghana (X% per year) and Senegal (X% per year).
Export Prices by Country
In 2023, the export price in ECOWAS amounted to $X per ton, rising by X% against the previous year. Overall, the export price continues to indicate a buoyant increase. Over the period under review, the export prices attained the peak figure at $X per ton in 2017; however, from 2018 to 2023, the export prices stood at a somewhat lower figure.
Prices varied noticeably by country of origin: amid the top suppliers, the country with the highest price was Ghana ($X per ton), while Senegal ($X per ton) was amongst the lowest.
From 2013 to 2023, the most notable rate of growth in terms of prices was attained by Ghana (X%), while the other leaders experienced mixed trends in the export price figures.
Vanilla Imports
Imports in ECOWAS
In 2023, overseas purchases of vanilla decreased by X% to X tons for the first time since 2018, thus ending a four-year rising trend. Overall, imports, however, saw perceptible growth. The pace of growth appeared the most rapid in 2020 when imports increased by X%. The volume of import peaked at X tons in 2022, and then fell sharply in the following year.
In value terms, vanilla imports shrank rapidly to $X in 2023. In general, imports saw a abrupt shrinkage. The pace of growth was the most pronounced in 2015 when imports increased by X% against the previous year. The level of import peaked at $X in 2012; however, from 2013 to 2023, imports stood at a somewhat lower figure.
Imports by Country
In 2023, Niger (X tons) was the major importer of vanilla, making up X% of total imports. It was distantly followed by Cote d'Ivoire (X tons), making up a X% share of total imports. Ghana (X tons) held a relatively small share of total imports.
Niger was also the fastest-growing in terms of the vanilla imports, with a CAGR of X% from 2012 to 2023. At the same time, Cote d'Ivoire (X%) and Ghana (X%) displayed positive paces of growth. While the share of Niger (X p.p.) and Cote d'Ivoire (X p.p.) increased significantly, the shares of the other countries remained relatively stable throughout the analyzed period.
In value terms, Niger ($X) constitutes the largest market for imported vanilla in ECOWAS, comprising X% of total imports. The second position in the ranking was taken by Cote d'Ivoire ($X), with an X% share of total imports.
In Niger, vanilla imports expanded at an average annual rate of X% over the period from 2012-2023. The remaining importing countries recorded the following average annual rates of imports growth: Cote d'Ivoire (X% per year) and Ghana (X% per year).
Import Prices by Country
The import price in ECOWAS stood at $X per ton in 2023, leveling off at the previous year. Overall, the import price, however, showed a deep setback. The pace of growth appeared the most rapid in 2016 when the import price increased by X% against the previous year. As a result, import price reached the peak level of $X per ton. From 2017 to 2023, the import prices remained at a lower figure.
There were significant differences in the average prices amongst the major importing countries. In 2023, amid the top importers, the country with the highest price was Ghana ($X per ton), while Niger ($X per ton) was amongst the lowest.
From 2012 to 2023, the most notable rate of growth in terms of prices was attained by Ghana (X%), while the other leaders experienced a decline in the import price figures.
Source: IndexBox Platform
This report provides an in-depth analysis of the vanilla market 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:
- FCL 692 - Vanilla
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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