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Western Africa - Fish Fats and Oils - Market Analysis, Forecast, Size, Trends and Insights
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View PricingWestern Africa: Market for Fish Fats And Oils 2024
Market Size for Fish Fats And Oils in Western Africa
In 2022, the West African fish fat and oil market increased by X% to $X, rising for the eighth year in a row after two years of decline. In general, consumption posted a prominent increase. Over the period under review, the market reached the maximum level in 2022 and is likely to see steady growth in years to come.
Production of Fish Fats And Oils in Western Africa
In value terms, fish fat and oil production rose modestly to $X in 2022 estimated in export price. Overall, production posted a resilient increase. The pace of growth appeared the most rapid in 2019 when the production volume increased by X%. Over the period under review, production hit record highs at $X in 2020; however, from 2021 to 2022, production stood at a somewhat lower figure.
Exports of Fish Fats And Oils
Exports in Western Africa
In 2022, shipments abroad of fish fats and oils decreased by X% to X tons, falling for the third consecutive year after three years of growth. Overall, exports, however, continue to indicate a buoyant expansion. The pace of growth appeared the most rapid in 2017 with an increase of X% against the previous year. The volume of export peaked at X tons in 2019; however, from 2020 to 2022, the exports remained at a lower figure.
In value terms, fish fat and oil exports plummeted to $X in 2022. In general, exports, however, saw prominent growth. The pace of growth was the most pronounced in 2017 when exports increased by X%. The level of export peaked at $X in 2020; however, from 2021 to 2022, the exports stood at a somewhat lower figure.
Exports by Country
Mauritania prevails in exports structure, resulting at X tons, which was approx. X% of total exports in 2022. It was distantly followed by Senegal (X tons), making up a X% share of total exports. The following exporters - Guinea-Bissau (X tons) and Guinea (X tons) - each resulted at a X% share of total exports.
From 2012 to 2022, average annual rates of growth with regard to fish fat and oil exports from Mauritania stood at X%. At the same time, Senegal (X%) displayed positive paces of growth. Moreover, Senegal emerged as the fastest-growing exporter exported in Western Africa, with a CAGR of X% from 2012-2022. By contrast, Guinea-Bissau (X%) and Guinea (X%) illustrated a downward trend over the same period. While the share of Senegal (X p.p.), Guinea-Bissau (X p.p.) and Guinea (X p.p.) increased significantly in terms of the total exports from 2012-2022, the share of Mauritania (X p.p.) displayed negative dynamics.
In value terms, Mauritania ($X) remains the largest fish fat and oil supplier in Western Africa, 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 Guinea-Bissau, with a X% share.
In Mauritania, fish fat and oil exports expanded 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: Senegal (X% per year) and Guinea-Bissau (X% per year).
Export Prices by Country
The export price in Western Africa stood at $X per ton in 2022, which is down by X% against the previous year. Export price indicated a moderate expansion from 2012 to 2022: its price increased at an average annual rate of X% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. The growth pace was the most rapid in 2015 when the export price increased by X% against the previous year. The level of export peaked at $X per ton in 2021, and then contracted markedly in the following year.
There were significant differences in the average prices amongst the major exporting countries. In 2022, amid the top suppliers, the country with the highest price was Guinea-Bissau ($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 Western Africa
In 2022, after three years of growth, there was significant decline in purchases abroad of fish fats and oils, when their volume decreased by X% to X tons. Overall, imports, however, showed a strong increase. The pace of growth appeared the most rapid in 2020 with an increase of X%. Over the period under review, imports reached the maximum at X tons in 2021, and then declined markedly in the following year.
In value terms, fish fat and oil imports surged to $X in 2022. In general, imports, however, saw a buoyant increase. The growth pace was the most rapid in 2020 when imports increased by X% against the previous year. Over the period under review, imports reached the maximum in 2022 and are likely to continue growth in the near future.
Imports by Country
Nigeria was the largest importing country with an import of about X tons, which recorded X% of total imports. It was distantly followed by Ghana (X tons), comprising a X% share of total imports.
Nigeria was also the fastest-growing in terms of the fish fats and oils imports, with a CAGR of X% from 2012 to 2022. At the same time, Ghana (X%) displayed positive paces of growth. From 2012 to 2022, the share of Nigeria increased by X percentage points.
In value terms, Nigeria ($X) constitutes the largest market for imported fish fats and oils in Western Africa, comprising X% of total imports. The second position in the ranking was taken by Ghana ($X), with an X% share of total imports.
From 2012 to 2022, the average annual growth rate of value in Nigeria totaled X%.
Import Prices by Country
The import price in Western Africa stood at $X per ton in 2022, rising by X% against the previous year. Overall, the import price, however, saw a mild reduction. Over the period under review, import prices attained the maximum 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 totaled $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 Western Africa. 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
- Mauritania
- Niger
- Nigeria
- Saint Helena, Ascension and Tristan da Cunha
- Senegal
- Sierra Leone
- Togo
Data coverage:
- Market volume and value
- Per Capita consumption
- Forecast of the market dynamics in the medium term
- Production in Western Africa, split by region and country
- Trade (exports and imports) in Western Africa
- 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
- Mauritania
- Niger
- Nigeria
- Saint Helena, Ascension and Tristan da Cunha
- 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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