ECOWAS: Sugary Soft Drink Market 2024

Sugary Soft Drink Market Size in ECOWAS

The ECOWAS sugary soft drink market contracted to $X in 2022, waning by X% against the previous year. Overall, consumption, however, continues to indicate resilient growth. As a result, consumption reached the peak level of $X. From 2020 to 2022, the growth of the market failed to regain momentum.

Sugary Soft Drink Production in ECOWAS

In value terms, sugary soft drink production fell modestly to $X in 2022 estimated in export price. The total production indicated a remarkable increase 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 appeared the most rapid in 2019 with an increase of X% against the previous year. As a result, production attained the peak level of $X. From 2020 to 2022, production growth remained at a lower figure.

Sugary Soft Drink Exports

Exports in ECOWAS

In 2022, shipments abroad of sugary soft drinks increased by X% to X litres, rising for the second year in a row after three years of decline. In general, exports, however, continue to indicate a relatively flat trend pattern. The pace of growth was the most pronounced in 2013 when exports increased by X%. As a result, the exports attained the peak of X litres. From 2014 to 2022, the growth of the exports remained at a somewhat lower figure.

In value terms, sugary soft drink exports reduced to $X in 2022. Over the period under review, exports, however, showed a mild descent. The growth pace was the most rapid in 2013 when exports increased by X% against the previous year. As a result, the exports reached the peak of $X. From 2014 to 2022, the growth of the exports remained at a somewhat lower figure.

Exports by Country

In 2022, Togo (X litres), distantly followed by Ghana (X litres), Burkina Faso (X litres), Nigeria (X litres) and Cote d'Ivoire (X litres) represented the largest exporters of sugary soft drinks, together making up X% of total exports. Senegal (X litres) took a little share of total exports.

From 2012 to 2022, the most notable rate of growth in terms of shipments, amongst the main exporting countries, was attained by Burkina Faso (with a CAGR of X%), while the other leaders experienced more modest paces of growth.

In value terms, Togo ($X) remains the largest sugary soft drink supplier in ECOWAS, comprising X% of total exports. The second position in the ranking was taken by Ghana ($X), with a X% share of total exports. It was followed by Burkina Faso, with an X% share.

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

Export Prices by Country

The export price in ECOWAS stood at $X per litre in 2022, with a decrease of X% against the previous year. In general, the export price saw a mild setback. The most prominent rate of growth was recorded in 2013 an increase of X% against the previous year. The level of export peaked at $X per litre in 2016; however, from 2017 to 2022, the export prices failed to regain momentum.

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

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

Sugary Soft Drink Imports

Imports in ECOWAS

After two years of growth, overseas purchases of sugary soft drinks decreased by X% to X litres in 2022. Overall, imports, however, enjoyed resilient growth. The growth pace was the most rapid in 2013 when imports increased by X% against the previous year. Over the period under review, imports hit record highs at X litres in 2021, and then reduced sharply in the following year.

In value terms, sugary soft drink imports fell remarkably to $X in 2022. In general, imports, however, posted a resilient increase. The growth pace was the most rapid in 2018 with an increase of X% against the previous year. Over the period under review, imports reached the maximum at $X in 2021, and then dropped notably in the following year.

Imports by Country

Ghana was the main importer of sugary soft drinks in ECOWAS, with the volume of imports recording X litres, which was approx. X% of total imports in 2022. Burkina Faso (X litres) took an X% share (based on physical terms) of total imports, which put it in second place, followed by Togo (X%), Gambia (X%), Liberia (X%), Mali (X%) and Cote d'Ivoire (X%).

From 2012 to 2022, average annual rates of growth with regard to sugary soft drink imports into Ghana stood at X%. At the same time, Togo (X%), Mali (X%), Gambia (X%), Liberia (X%) and Burkina Faso (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%) illustrated a downward trend over the same period. While the share of Ghana (X p.p.), Togo (X p.p.), Gambia (X p.p.), Mali (X p.p.), Burkina Faso (X p.p.) and Liberia (X p.p.) increased significantly in terms of the total imports from 2012-2022, the share of Cote d'Ivoire (X p.p.) displayed negative dynamics.

In value terms, Ghana ($X) constitutes the largest market for imported sugary soft drinks in ECOWAS, comprising X% of total imports. The second position in the ranking was held by Mali ($X), with an X% share of total imports. It was followed by Liberia, with a X% share.

In Ghana, sugary soft drink imports expanded at an average annual rate of X% over the period from 2012-2022. The remaining importing countries recorded the following average annual rates of imports growth: Mali (X% per year) and Liberia (X% per year).

Import Prices by Country

In 2022, the import price in ECOWAS amounted to $X per litre, shrinking by X% against the previous year. Over the period under review, the import price saw a mild shrinkage. The growth pace was the most rapid in 2018 an increase of X% against the previous year. Over the period under review, import prices hit record highs at $X per litre in 2021, and then declined dramatically in the following year.

Prices varied noticeably by country of destination: amid the top importers, the country with the highest price was Mali ($X per litre), while Togo ($X per litre) was amongst the lowest.

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

Source: IndexBox Platform

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