ECOWAS: Vermouth Market 2024

Vermouth Market Size in ECOWAS

The ECOWAS vermouth market dropped to $X in 2022, waning by X% against the previous year. In general, consumption recorded a perceptible curtailment. The level of consumption peaked at $X in 2012; however, from 2013 to 2022, consumption remained at a lower figure.

Vermouth Production in ECOWAS

In value terms, vermouth production contracted modestly to $X in 2022 estimated in export price. The total production indicated slight 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, production increased by X% against 2020 indices. The most prominent rate of growth was recorded in 2018 when the production volume increased by X% against the previous year. Over the period under review, production hit record highs at $X in 2019; however, from 2020 to 2022, production remained at a lower figure.

Vermouth Exports

Exports in ECOWAS

In 2022, vermouth exports in ECOWAS surged to X litres, jumping by X% on the previous year's figure. Over the period under review, exports, however, recorded a relatively flat trend pattern. The volume of export peaked at X litres in 2015; however, from 2016 to 2022, the exports remained at a lower figure.

In value terms, vermouth exports contracted slightly to $X in 2022. Overall, exports, however, showed a noticeable downturn. The growth pace was the most rapid in 2019 when exports increased by X% against the previous year. Over the period under review, the exports hit record highs at $X in 2013; however, from 2014 to 2022, the exports failed to regain momentum.

Exports by Country

Benin (X litres) and Ghana (X litres) prevails in exports structure, together constituting X% of total exports. The following exporters - Burkina Faso (X litres), Senegal (X litres), Nigeria (X litres) and Cabo Verde (X litres) - together made up X% of total exports.

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

In value terms, the largest vermouth supplying countries in ECOWAS were Ghana ($X), Cabo Verde ($X) and Burkina Faso ($X), together accounting for X% of total exports. Senegal, Benin and Nigeria lagged somewhat behind, together comprising a further X%.

Among the main exporting countries, Nigeria, 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 more modest paces of growth.

Export Prices by Country

The export price in ECOWAS stood at $X per litre in 2022, reducing by X% against the previous year. In general, the export price continues to indicate a perceptible setback. The pace of growth was the most pronounced 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 litre. From 2014 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 Cabo Verde ($X per litre), while Benin ($X per litre) was amongst the lowest.

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

Vermouth Imports

Imports in ECOWAS

After two years of growth, supplies from abroad of vermouth decreased by X% to X litres in 2022. Overall, imports recorded a drastic downturn. The most prominent rate of growth was recorded in 2015 when imports increased by X% against the previous year. Over the period under review, imports reached the maximum at X litres in 2012; however, from 2013 to 2022, imports remained at a lower figure.

In value terms, vermouth imports dropped to $X in 2022. In general, imports showed a abrupt shrinkage. The growth pace was the most rapid in 2021 when imports increased by X% against the previous year. The level of import peaked at $X in 2012; however, from 2013 to 2022, imports failed to regain momentum.

Imports by Country

Ghana was the major importing country with an import of around X litres, which resulted at X% of total imports. Benin (X litres) took a X% share (based on physical terms) of total imports, which put it in second place, followed by Burkina Faso (X%), Guinea (X%), Nigeria (X%) and Togo (X%). Cabo Verde (X litres) followed a long way behind the leaders.

From 2012 to 2022, the biggest increases were recorded for Nigeria (with a CAGR of X%), while purchases for the other leaders experienced mixed trends in the imports figures.

In value terms, Ghana ($X) constitutes the largest market for imported vermouth in ECOWAS, comprising X% of total imports. The second position in the ranking was taken by Benin ($X), with a X% share of total imports. It was followed by Guinea, with a X% share.

In Ghana, vermouth imports decreased by 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: Benin (X% per year) and Guinea (X% per year).

Import Prices by Country

The import price in ECOWAS stood at $X per litre in 2022, jumping by X% against the previous year. Over the period under review, the import price showed a relatively flat trend pattern. Over the period under review, import prices attained the peak figure at $X per litre in 2013; however, from 2014 to 2022, 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 Cabo Verde ($X per litre), while Burkina Faso ($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 more modest paces of growth.

Source: IndexBox Platform

Frequently Asked Questions (FAQ) :