ECOWAS: Market for Powdered, Evaporated And Condensed Milk 2024

Market Size for Powdered, Evaporated And Condensed Milk in ECOWAS

In 2022, the ECOWAS market for powdered, evaporated and condensed milk decreased by X% to $X, falling for the second consecutive year after two years of growth. Over the period under review, consumption saw a mild downturn. Over the period under review, the market attained the maximum level at $X in 2020; however, from 2021 to 2022, consumption remained at a lower figure.

Production of Powdered, Evaporated And Condensed Milk in ECOWAS

In value terms, powdered, evaporated and condensed milk production stood at $X in 2022 estimated in export price. Over the period under review, production recorded a relatively flat trend pattern. The most prominent rate of growth was recorded in 2016 when the production volume increased by X%. As a result, production reached the peak level of $X. From 2017 to 2022, production growth remained at a somewhat lower figure.

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Exports of Powdered, Evaporated And Condensed Milk

Exports in ECOWAS

In 2022, shipments abroad of powdered, evaporated and condensed milk increased by X% to X tons, rising for the second year in a row after three years of decline. Overall, exports, however, showed a mild curtailment. The pace of growth was the most pronounced in 2013 when exports increased by X%. As a result, the exports reached the peak of X tons. From 2014 to 2022, the growth of the exports failed to regain momentum.

In value terms, powdered, evaporated and condensed milk exports surged to $X in 2022. Over the period under review, exports, however, recorded a abrupt contraction. The most prominent rate of growth was recorded in 2013 when exports increased by X%. As a result, the exports reached the peak of $X. From 2014 to 2022, the growth of the exports failed to regain momentum.

Exports by Country

In 2022, Togo (X tons) was the major exporter of powdered, evaporated and condensed milk, achieving X% of total exports. Ghana (X tons) took the second position in the ranking, followed by Cote d'Ivoire (X tons). All these countries together took near X% share of total exports. The following exporters - Senegal (X tons) and Nigeria (X tons) - each resulted at a X% share of total exports.

Togo was also the fastest-growing in terms of the powdered, evaporated and condensed milk exports, with a CAGR of X% from 2012 to 2022. At the same time, Ghana (X%) and Cote d'Ivoire (X%) displayed positive paces of growth. By contrast, Senegal (X%) and Nigeria (X%) illustrated a downward trend over the same period. From 2012 to 2022, the share of Togo, Ghana and Cote d'Ivoire increased by X, X and X percentage points, respectively.

In value terms, Togo ($X) remains the largest powdered, evaporated and condensed milk supplier in ECOWAS, comprising X% of total exports. The second position in the ranking was held by Ghana ($X), with a X% share of total exports. It was followed by Senegal, with a X% share.

From 2012 to 2022, the average annual growth rate of value in Togo amounted to X%. In the other countries, the average annual rates were as follows: Ghana (X% per year) and Senegal (X% per year).

Export Prices by Country

In 2022, the export price in ECOWAS amounted to $X per ton, waning by X% against the previous year. Over the period under review, the export price recorded a abrupt setback. The most prominent rate of growth was recorded in 2013 when the export price increased by X% against the previous year. As a result, the export price attained the peak level of $X per ton. From 2014 to 2022, the export prices remained at a somewhat lower figure.

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 Senegal ($X per ton), while Togo ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Nigeria (X%), while the other leaders experienced a decline in the export price figures.

Imports of Powdered, Evaporated And Condensed Milk

Imports in ECOWAS

In 2022, purchases abroad of powdered, evaporated and condensed milk decreased by X% to X tons, falling for the second year in a row after two years of growth. Over the period under review, imports recorded a slight decline. The most prominent rate of growth was recorded in 2014 with an increase of X% against the previous year. Over the period under review, imports attained the maximum at X tons in 2020; however, from 2021 to 2022, imports stood at a somewhat lower figure.

In value terms, powdered, evaporated and condensed milk imports contracted notably to $X in 2022. In general, imports showed a pronounced setback. The pace of growth appeared the most rapid in 2020 when imports increased by X%. The level of import peaked at $X in 2014; however, from 2015 to 2022, imports stood at a somewhat lower figure.

Imports by Country

Nigeria represented the key importing country with an import of around X tons, which resulted at X% of total imports. Ghana (X tons) took a X% share (based on physical terms) of total imports, which put it in second place, followed by Togo (X%), Burkina Faso (X%), Cote d'Ivoire (X%), Gambia (X%) and Senegal (X%).

Imports into Nigeria decreased at an average annual rate of X% from 2012 to 2022. At the same time, Togo (X%), Burkina Faso (X%), Gambia (X%) and Ghana (X%) displayed positive paces of growth. Moreover, Togo emerged as the fastest-growing importer imported in ECOWAS, with a CAGR of X% from 2012-2022. By contrast, Cote d'Ivoire (X%) and Senegal (X%) illustrated a downward trend over the same period. While the share of Togo (X p.p.), Burkina Faso (X p.p.), Gambia (X p.p.) and Ghana (X p.p.) increased significantly in terms of the total imports from 2012-2022, the share of Senegal (X p.p.) and Nigeria (X p.p.) displayed negative dynamics. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Nigeria ($X) constitutes the largest market for imported powdered, evaporated and condensed milk in ECOWAS, comprising X% of total imports. The second position in the ranking was taken by Cote d'Ivoire ($X), with an X% share of total imports. It was followed by Ghana, with a X% share.

From 2012 to 2022, the average annual rate of growth in terms of value in Nigeria amounted to X%. 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

In 2022, the import price in ECOWAS amounted to $X per ton, picking up by X% against the previous year. In general, the import price, however, recorded a relatively flat trend pattern. The pace of growth was the most pronounced in 2020 when the import price increased by X%. The level of import peaked at $X per ton in 2014; however, from 2015 to 2022, import prices failed to regain momentum.

There were significant differences in the average prices amongst the major importing countries. In 2022, amid the top importers, the country with the highest price was Nigeria ($X per ton), while Togo ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Nigeria (X%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform

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