ECOWAS: Yoghurt Market 2024

Yoghurt Market Size in ECOWAS

The ECOWAS yoghurt market totaled $X in 2023, picking up by X% against the previous year. The total consumption indicated a slight increase from 2012 to 2023: its value increased at an average annual rate of X% over the last eleven years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2023 figures, consumption decreased by X% against 2021 indices. Over the period under review, the market hit record highs at $X in 2017; however, from 2018 to 2023, consumption failed to regain momentum.

Yoghurt Production in ECOWAS

In value terms, yoghurt production skyrocketed to $X in 2023 estimated in export price. In general, production, however, continues to indicate a pronounced decrease. The growth pace was the most rapid in 2017 with an increase of X% against the previous year. As a result, production reached the peak level of $X. From 2018 to 2023, production growth remained at a somewhat lower figure.

Yoghurt Exports

Exports in ECOWAS

In 2023, approx. X tons of yoghurt were exported in ECOWAS; approximately mirroring the previous year. Over the period under review, exports recorded a significant expansion. The pace of growth appeared the most rapid in 2017 when exports increased by X%. The volume of export peaked at X tons in 2021; however, from 2022 to 2023, the exports stood at a somewhat lower figure.

In value terms, yoghurt exports amounted to $X in 2023. Overall, exports showed a strong expansion. The pace of growth was the most pronounced in 2017 with an increase of X% against the previous year. The level of export peaked in 2023 and is expected to retain growth in years to come.

Exports by Country

In 2023, Ghana (X tons) represented the main exporter of yoghurt, creating X% of total exports. Nigeria (X tons) ranks second in terms of the total exports with a X% share, followed by Senegal (X%) and Benin (X%). Cote d'Ivoire (X tons) held a minor share of total exports.

Exports from Ghana increased at an average annual rate of X% from 2012 to 2023. At the same time, Benin (X%), Senegal (X%), Nigeria (X%) and Cote d'Ivoire (X%) displayed positive paces of growth. Moreover, Benin emerged as the fastest-growing exporter exported in ECOWAS, with a CAGR of X% from 2012-2023. Ghana (X p.p.), Nigeria (X p.p.), Senegal (X p.p.) and Benin (X p.p.) significantly strengthened its position in terms of the total exports, while Cote d'Ivoire saw its share reduced by X% from 2012 to 2023, respectively.

In value terms, Ghana ($X) remains the largest yoghurt supplier in ECOWAS, comprising X% of total exports. The second position in the ranking was taken by Senegal ($X), with an X% share of total exports. It was followed by Nigeria, with a X% share.

From 2012 to 2023, the average annual growth rate of value in Ghana amounted to X%. The remaining exporting countries recorded the following average annual rates of exports growth: Senegal (X% per year) and Nigeria (X% per year).

Export Prices by Country

In 2023, the export price in ECOWAS amounted to $X per ton, therefore, remained relatively stable against the previous year. Overall, the export price saw a noticeable contraction. The growth pace was the most rapid in 2022 an increase of X%. Over the period under review, the export prices hit record highs at $X per ton in 2012; however, from 2013 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 Cote d'Ivoire ($X per ton), while Benin ($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 export price figures.

Yoghurt Imports

Imports in ECOWAS

In 2023, the amount of yoghurt imported in ECOWAS contracted to X tons, declining by X% on 2022 figures. Over the period under review, imports, however, continue to indicate strong growth. The pace of growth appeared the most rapid in 2017 when imports increased by X% against the previous year. The volume of import peaked at X tons in 2021; however, from 2022 to 2023, imports failed to regain momentum.

In value terms, yoghurt imports rose slightly to $X in 2023. Total imports indicated strong growth from 2012 to 2023: its value increased at an average annual rate of X% over the last eleven-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2023 figures, imports decreased by X% against 2021 indices. The most prominent rate of growth was recorded in 2014 when imports increased by X%. Over the period under review, imports reached the maximum at $X in 2021; however, from 2022 to 2023, imports stood at a somewhat lower figure.

Imports by Country

The countries with the highest levels of yoghurt imports in 2023 were Togo (X tons), Ghana (X tons), Cabo Verde (X tons) and Cote d'Ivoire (X tons), together amounting to X% of total import. Burkina Faso (X tons) ranks next in terms of the total imports with a X% share, followed by Mali (X%) and Benin (X%).

From 2012 to 2023, the biggest increases were recorded for Togo (with a CAGR of X%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, the largest yoghurt importing markets in ECOWAS were Cabo Verde ($X), Ghana ($X) and Togo ($X), together accounting for X% of total imports.

Among the main importing countries, Togo, 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, increasing by X% against the previous year. Overall, the import price, however, continues to indicate a noticeable slump. Over the period under review, import prices reached the maximum at $X per ton in 2012; however, from 2013 to 2023, 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 Cabo Verde ($X per ton), while Burkina Faso ($X per ton) was amongst the lowest.

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

Source: IndexBox Platform