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ECOWAS - Yoghurt - Market Analysis, Forecast, Size, Trends and Insights
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View PricingECOWAS: Market for Yoghurt and Fermented Milk 2024
Market Size for Yoghurt and Fermented Milk in ECOWAS
The ECOWAS yoghurt and fermented milk market fell significantly to $X in 2023, which is down by X% against the previous year. Overall, consumption, however, continues to indicate a relatively flat trend pattern. Over the period under review, the market reached the peak level at $X in 2017; however, from 2018 to 2023, consumption stood at a somewhat lower figure.
Production of Yoghurt and Fermented Milk in ECOWAS
In value terms, yoghurt and fermented milk production declined significantly to $X in 2023 estimated in export price. In general, production, however, recorded a noticeable reduction. The growth pace was the most rapid in 2022 with an increase of X%. The level of production peaked at $X in 2013; however, from 2014 to 2023, production failed to regain momentum.
Nigeria (X tons) constituted the country with the largest volume of yoghurt and fermented milk production, comprising approx. X% of total volume. Moreover, yoghurt and fermented milk production in Nigeria exceeded the figures recorded by the second-largest producer, Cote d'Ivoire (X tons), more than tenfold. Ghana (X tons) ranked third in terms of total production with a X% share.
In Nigeria, yoghurt and fermented milk production increased at an average annual rate of X% over the period from 2012-2023. The remaining producing countries recorded the following average annual rates of production growth: Cote d'Ivoire (X% per year) and Ghana (X% per year).
Exports of Yoghurt and Fermented Milk
Exports in ECOWAS
Yoghurt and fermented milk exports dropped to X tons in 2023, shrinking by X% against 2022 figures. Overall, exports, however, enjoyed a strong expansion. The most prominent rate of growth was recorded in 2021 when exports increased by X%. As a result, the exports reached the peak of X tons. From 2022 to 2023, the growth of the exports remained at a lower figure.
In value terms, yoghurt and fermented milk exports shrank to $X in 2023. In general, exports, however, saw a buoyant expansion. The most prominent rate of growth was recorded in 2013 with an increase of X% against the previous year. Over the period under review, the exports hit record highs at $X in 2022, and then shrank in the following year.
Exports by Country
In 2023, Ghana (X tons) represented the main exporter of yoghurt and fermented milk, achieving X% of total exports. Senegal (X tons) took the second position in the ranking, followed by Benin (X tons), Nigeria (X tons) and Cote d'Ivoire (X tons). All these countries together took approx. X% share of total exports.
From 2012 to 2023, average annual rates of growth with regard to yoghurt and fermented milk exports from Ghana stood at X%. At the same time, Benin (X%), Cote d'Ivoire (X%), Senegal (X%) and Nigeria (X%) displayed positive paces of growth. Moreover, Benin emerged as the fastest-growing exporter exported in ECOWAS, with a CAGR of X% from 2012-2023. Ghana (X p.p.) and Benin (X p.p.) significantly strengthened its position in terms of the total exports, while Senegal and Nigeria saw its share reduced by X% and X% from 2012 to 2023, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.
In value terms, Ghana ($X) remains the largest yoghurt and fermented milk 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 Benin, with an X% share.
From 2012 to 2023, the average annual growth rate of value in Ghana totaled X%. The remaining exporting countries recorded the following average annual rates of exports growth: Senegal (X% per year) and Benin (X% per year).
Export Prices by Country
The export price in ECOWAS stood at $X per ton in 2023, which is down by X% against the previous year. Overall, the export price saw a perceptible curtailment. The growth pace was the most rapid in 2022 when the export price increased by X%. Over the period under review, the export prices attained the peak figure at $X per ton in 2013; however, from 2014 to 2023, the export prices remained at a lower figure.
There were significant differences in the average prices amongst the major exporting countries. In 2023, amid the top suppliers, the country with the highest price was Cote d'Ivoire ($X per ton), while Nigeria ($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.
Imports of Yoghurt and Fermented Milk
Imports in ECOWAS
In 2023, the amount of yoghurt and fermented milk imported in ECOWAS fell to X tons, waning by X% on the year before. Total imports indicated a mild expansion from 2012 to 2023: its volume 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 growth pace was the most rapid in 2014 when imports increased by X%. The volume of import peaked at X tons in 2017; however, from 2018 to 2023, imports remained at a lower figure.
In value terms, yoghurt and fermented milk imports fell rapidly to $X in 2023. Overall, imports recorded a relatively flat trend pattern. The most prominent rate of growth was recorded in 2020 with an increase of X%. As a result, imports reached the peak of $X. From 2021 to 2023, the growth of imports remained at a somewhat lower figure.
Imports by Country
Togo (X tons), Ghana (X tons), Cote d'Ivoire (X tons), Nigeria (X tons) and Cabo Verde (X tons) represented roughly X% of total imports in 2023. It was distantly followed by Burkina Faso (X tons), creating a X% share of total imports. Mali (X tons) followed a long way behind the leaders.
From 2012 to 2023, the most notable rate of growth in terms of purchases, amongst the main importing countries, was attained by Cote d'Ivoire (with a CAGR of X%), while imports for the other leaders experienced more modest paces of growth.
In value terms, the largest yoghurt and fermented milk importing markets in ECOWAS were Nigeria ($X), Cote d'Ivoire ($X) and Ghana ($X), together comprising X% of total imports.
Cote d'Ivoire, with a CAGR of X%, saw 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 ECOWAS stood at $X per ton in 2023, falling by X% against the previous year. In general, the import price continues to indicate a slight setback. The pace of growth was the most pronounced in 2020 an increase of X%. Over the period under review, import prices reached the peak figure at $X per ton in 2013; however, from 2014 to 2023, import prices stood at a somewhat lower figure.
Prices varied noticeably by country of destination: amid the top importers, the country with the highest price was Nigeria ($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 Cote d'Ivoire (X%), while the other leaders experienced more modest paces of growth.
Source: IndexBox Platform
This report provides an in-depth analysis of the market for yoghurt and fermented milk 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 891 - Yoghurt
- FCL 892 - Yoghurt, Concentrated or Unconcent
- FCL 893 - Buttermilk, Curdled Milk, Acidified Milk
- FCL 899 - Dry Buttermilk
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
- COUNTRIES WITH TOP YIELDS
- 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
- PRODUCING ANIMALS AND YIELD 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
- Producing Animals, By Country, 2012-2023
- Yield, 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
- Yield 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
- Producing Animals, 2012–2023
- Yield, 2012–2023
- Production, By Country, 2023
- Production, In Physical Terms, By Country, 2012–2023
- Producing Animals, By Country, 2023
- Producing Animals, By Country, 2012-2023
- Yield, 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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