ECOWAS: Soft Drink Market 2024

Soft Drink Market Size in ECOWAS

The ECOWAS soft drink market fell modestly to $X in 2022, flattening at the previous year. The total consumption indicated temperate growth from 2012 to 2022: its value 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. Based on 2022 figures, consumption decreased by X% against 2019 indices. Over the period under review, the market attained the maximum level at $X in 2019; however, from 2020 to 2022, consumption remained at a lower figure.

Soft Drink Production in ECOWAS

In value terms, soft drink production shrank slightly to $X in 2022 estimated in export price. The total production indicated a pronounced expansion from 2012 to 2022: its value 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. Based on 2022 figures, production decreased by X% against 2019 indices. The pace of growth was the most pronounced in 2018 when the production volume increased by X%. Over the period under review, production reached the maximum level at $X in 2019; however, from 2020 to 2022, production remained at a lower figure.

Soft Drink Exports

Exports in ECOWAS

Soft drink exports fell dramatically to X litres in 2022, with a decrease of X% on 2021 figures. Over the period under review, exports, however, continue to indicate tangible growth. The pace of growth appeared the most rapid in 2016 when exports increased by X% against the previous year. The volume of export peaked at X litres in 2020; however, from 2021 to 2022, the exports failed to regain momentum.

In value terms, soft drink exports declined to $X in 2022. In general, exports, however, recorded a relatively flat trend pattern. The most prominent rate of growth was recorded in 2013 with an increase of X% against the previous year. As a result, the exports attained the peak of $X. From 2014 to 2022, the growth of the exports remained at a lower figure.

Exports by Country

The biggest shipments were from Senegal (X litres), Ghana (X litres) and Togo (X litres), together accounting for X% of total export. It was distantly followed by Nigeria (X litres), creating a X% share of total exports. Cote d'Ivoire (X litres) followed a long way behind the leaders.

From 2012 to 2022, the most notable rate of growth in terms of shipments, amongst the leading exporting countries, was attained by Ghana (with a CAGR of X%), while the other leaders experienced mixed trends in the exports figures.

In value terms, Senegal ($X), Togo ($X) and Ghana ($X) constituted the countries with the highest levels of exports in 2022, with a combined X% share of total exports.

Among the main exporting countries, Senegal, with a CAGR of X%, saw the highest growth rate of the value of exports, over the period under review, while shipments for the other leaders experienced mixed trends in the exports figures.

Export Prices by Country

The export price in ECOWAS stood at $X per litre in 2022, increasing by X% against the previous year. Overall, the export price, however, saw a pronounced reduction. The most prominent rate of growth was recorded in 2013 when the export price increased by X% against the previous year. Over the period under review, the export prices reached the peak figure at $X per litre in 2016; however, from 2017 to 2022, 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 Nigeria ($X per litre), while Ghana ($X per litre) 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.

Soft Drink Imports

Imports in ECOWAS

After five years of growth, supplies from abroad of soft drinks decreased by X% to X litres in 2022. In general, imports, however, recorded a buoyant increase. The most prominent rate of growth was recorded in 2019 with an increase of X% against the previous year. Over the period under review, imports attained the peak figure at X litres in 2021, and then fell in the following year.

In value terms, soft drink imports declined to $X in 2022. Over the period under review, imports saw a noticeable reduction. The most prominent rate of growth was recorded in 2019 when imports increased by X% against the previous year. Over the period under review, imports reached the peak figure at $X in 2012; however, from 2013 to 2022, imports remained at a lower figure.

Imports by Country

The purchases of the four major importers of soft drinks, namely Ghana, Cote d'Ivoire, Senegal and Mali, represented more than half of total import. Burkina Faso (X litres) held a X% share (based on physical terms) of total imports, which put it in second place, followed by Nigeria (X%). The following importers - Togo (X litres), Guinea-Bissau (X litres), Guinea (X litres), Gambia (X litres), Liberia (X litres), Cabo Verde (X litres) and Sierra Leone (X litres) - together made up X% of total imports.

From 2012 to 2022, the biggest increases were recorded for Mali (with a CAGR of X%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, Ghana ($X), Cote d'Ivoire ($X) and Senegal ($X) were the countries with the highest levels of imports in 2022, together comprising X% of total imports. Nigeria, Mali, Burkina Faso, Guinea-Bissau, Liberia, Guinea, Gambia, Cabo Verde, Sierra Leone and Togo lagged somewhat behind, together comprising a further X%.

Mali, with a CAGR of X%, saw the highest growth rate of 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 litre in 2022, which is down by X% against the previous year. Over the period under review, the import price showed a abrupt shrinkage. The pace of growth was the most pronounced in 2021 when the import price increased by X% against the previous year. The level of import peaked at $X per litre in 2012; however, from 2013 to 2022, import prices stood at a somewhat lower figure.

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

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

Source: IndexBox Platform

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