Western Africa: Preserved Sardines Market 2024

Preserved Sardines Market Size in Western Africa

In 2023, after nine years of growth, there was significant decline in the West African preserved sardines market, when its value decreased by X% to $X. The total consumption indicated a moderate increase from 2012 to 2023: its value increased at an average annual rate of X% over the last eleven years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Over the period under review, the market hit record highs at $X in 2022, and then fell in the following year.

Preserved Sardines Production in Western Africa

In value terms, preserved sardines production shrank to $X in 2023 estimated in export price. Overall, production, however, saw a relatively flat trend pattern. The most prominent rate of growth was recorded in 2014 when the production volume increased by X% against the previous year. The level of production peaked at $X in 2019; however, from 2020 to 2023, production failed to regain momentum.

Preserved Sardines Exports

Exports in Western Africa

Preserved sardines exports expanded markedly to X tons in 2023, growing by X% on 2022 figures. Over the period under review, exports, however, showed a abrupt decrease. The pace of growth appeared the most rapid in 2016 when exports increased by X% against the previous year. As a result, the exports reached the peak of X tons. From 2017 to 2023, the growth of the exports failed to regain momentum.

In value terms, preserved sardines exports expanded sharply to $X in 2023. Overall, exports, however, recorded a perceptible shrinkage. The most prominent rate of growth was recorded in 2021 with an increase of X% against the previous year. The level of export peaked at $X in 2012; however, from 2013 to 2023, the exports failed to regain momentum.

Exports by Country

Senegal represented the key exporter of sardines (prepared or preserved) in Western Africa, with the volume of exports reaching X tons, which was near X% of total exports in 2023. Togo (X tons) held a X% share (based on physical terms) of total exports, which put it in second place, followed by Niger (X%), Gambia (X%) and Ghana (X%). Liberia (X tons), Nigeria (X tons) and Benin (X tons) followed a long way behind the leaders.

Exports from Senegal increased at an average annual rate of X% from 2012 to 2023. At the same time, Benin (X%), Liberia (X%), Ghana (X%) and Togo (X%) displayed positive paces of growth. Moreover, Benin emerged as the fastest-growing exporter exported in Western Africa, with a CAGR of X% from 2012-2023. Niger experienced a relatively flat trend pattern. By contrast, Nigeria (X%) and Gambia (X%) illustrated a downward trend over the same period. Senegal (X p.p.), Togo (X p.p.), Ghana (X p.p.), Niger (X p.p.), Liberia (X p.p.) and Benin (X p.p.) significantly strengthened its position in terms of the total exports, while Gambia saw its share reduced by X% from 2012 to 2023, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Senegal ($X) remains the largest preserved sardines supplier in Western Africa, comprising X% of total exports. The second position in the ranking was held by Togo ($X), with a X% share of total exports. It was followed by Gambia, with an X% share.

From 2012 to 2023, the average annual rate of growth in terms of value in Senegal stood at X%. The remaining exporting countries recorded the following average annual rates of exports growth: Togo (X% per year) and Gambia (X% per year).

Export Prices by Country

In 2023, the export price in Western Africa amounted to $X per ton, increasing by X% against the previous year. Export price indicated a mild increase from 2012 to 2023: its price increased at an average annual rate of X% over the last eleven years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2023 figures, preserved sardines export price increased by X% against 2017 indices. The pace of growth was the most pronounced in 2017 when the export price increased by X%. Over the period under review, the export prices hit record highs in 2023 and is expected to retain growth in the near future.

Prices varied noticeably by country of origin: amid the top suppliers, the country with the highest price was Gambia ($X per ton), while Liberia ($X per ton) was amongst the lowest.

From 2012 to 2023, the most notable rate of growth in terms of prices was attained by Togo (X%), while the other leaders experienced more modest paces of growth.

Preserved Sardines Imports

Imports in Western Africa

In 2023, preserved sardines imports in Western Africa fell to X tons, with a decrease of X% compared with 2022. Total imports indicated notable growth from 2012 to 2023: its volume increased at an average annual rate of X% over the last eleven years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2023 figures, imports decreased by X% against 2021 indices. The most prominent rate of growth was recorded in 2021 with an increase of X% against the previous year. As a result, imports reached the peak of X tons. From 2022 to 2023, the growth of imports failed to regain momentum.

In value terms, preserved sardines imports contracted modestly to $X in 2023. In general, imports, however, enjoyed tangible growth. The growth pace was the most rapid in 2021 with an increase of X% against the previous year. As a result, imports reached the peak of $X. From 2022 to 2023, the growth of imports remained at a somewhat lower figure.

Imports by Country

In 2023, Ghana (X tons), Mauritania (X tons), Guinea (X tons), Togo (X tons), Niger (X tons), Burkina Faso (X tons), Sierra Leone (X tons), Nigeria (X tons), Senegal (X tons), Gambia (X tons), Mali (X tons) and Benin (X tons) represented the major importer of sardines (prepared or preserved) in Western Africa, making up X% of total import.

From 2012 to 2023, the biggest increases were recorded for Togo (with a CAGR of X%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, Mauritania ($X), Guinea ($X) and Ghana ($X) constituted the countries with the highest levels of imports in 2023, together comprising X% of total imports. Niger, Sierra Leone, Gambia, Mali, Senegal, Togo, Benin, Nigeria and Burkina Faso lagged somewhat behind, together comprising a further X%.

In terms of the main importing countries, Senegal, with a CAGR of X%, recorded the highest growth rate of the value of imports, over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

In 2023, the import price in Western Africa amounted to $X per ton, surging by X% against the previous year. Over the last eleven years, it increased at an average annual rate of X%. The pace of growth was the most pronounced in 2020 an increase of X%. The level of import peaked in 2023 and is likely to see gradual growth in the immediate term.

Prices varied noticeably by country of destination: amid the top importers, the country with the highest price was Sierra Leone ($X per ton), while Burkina Faso ($X per ton) was amongst the lowest.

From 2012 to 2023, the most notable rate of growth in terms of prices was attained by Benin (X%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform