ECOWAS - Olive Oil (Virgin) - Market Analysis, Forecast, Size, Trends and Insights
Get instant access to more than 2 million reports, dashboards, and datasets on the IndexBox Platform.
View PricingECOWAS: Virgin Olive Oil Market 2024
Virgin Olive Oil Market Size in ECOWAS
In 2022, the ECOWAS virgin olive oil market decreased by X% to $X, falling for the second consecutive year after three years of growth. In general, consumption showed a relatively flat trend pattern. As a result, consumption attained the peak level of $X. From 2017 to 2022, the growth of the market failed to regain momentum.
Virgin Olive Oil Production in ECOWAS
In value terms, virgin olive oil production fell rapidly to $X in 2022 estimated in export price. In general, production, however, recorded pronounced growth. The most prominent rate of growth was recorded in 2019 when the production volume increased by X% against the previous year. As a result, production attained the peak level of $X. From 2020 to 2022, production growth remained at a somewhat lower figure.
Virgin Olive Oil Exports
Exports in ECOWAS
In 2022, overseas shipments of virgin olive oil were finally on the rise to reach X tons after two years of decline. In general, exports, however, showed a deep reduction. The most prominent rate of growth was recorded in 2013 when exports increased by X% against the previous year. As a result, the exports attained the peak of X tons. From 2014 to 2022, the growth of the exports remained at a lower figure.
In value terms, virgin olive oil exports expanded notably to $X in 2022. Over the period under review, exports, however, faced a abrupt decrease. The growth pace was the most rapid in 2013 when exports increased by X%. As a result, the exports attained the peak of $X. From 2014 to 2022, the growth of the exports remained at a lower figure.
Exports by Country
Sierra Leone was the major exporting country with an export of around X tons, which finished at X% of total exports. Ghana (X kg) held a X% share (based on physical terms) of total exports, which put it in second place, followed by Cote d'Ivoire (X%).
From 2012 to 2022, average annual rates of growth with regard to virgin olive oil exports from Sierra Leone stood at X%. At the same time, Cote d'Ivoire (X%) displayed positive paces of growth. Moreover, Cote d'Ivoire emerged as the fastest-growing exporter exported in ECOWAS, with a CAGR of X% from 2012-2022. By contrast, Ghana (X%) illustrated a downward trend over the same period. While the share of Cote d'Ivoire (X p.p.) and Ghana (X p.p.) increased significantly in terms of the total exports from 2012-2022, the share of Sierra Leone (X p.p.) displayed negative dynamics.
In value terms, Sierra Leone ($X) remains the largest virgin olive oil supplier in ECOWAS, comprising X% of total exports. The second position in the ranking was held by Cote d'Ivoire ($X), with a X% share of total exports.
From 2012 to 2022, the average annual growth rate of value in Sierra Leone totaled X%. In the other countries, the average annual rates were as follows: Cote d'Ivoire (X% per year) and Ghana (X% per year).
Export Prices by Country
In 2022, the export price in ECOWAS amounted to $X per ton, dropping by X% against the previous year. Overall, the export price, however, recorded a relatively flat trend pattern. The pace of growth was the most pronounced in 2014 when the export price increased by X% against the previous year. Over the period under review, the export prices attained the maximum at $X per ton in 2017; however, from 2018 to 2022, the export prices stood at a somewhat lower figure.
Average prices varied somewhat amongst the major exporting countries. In 2022, amid the top suppliers, the country with the highest price was Cote d'Ivoire ($X per ton), while Ghana ($X per ton) 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 export price figures.
Virgin Olive Oil Imports
Imports in ECOWAS
In 2022, overseas purchases of virgin olive oil decreased by X% to X tons, falling for the second year in a row after three years of growth. Over the period under review, imports recorded a abrupt contraction. The growth pace was the most rapid in 2016 with an increase of X% against the previous year. As a result, imports attained the peak of X tons. From 2017 to 2022, the growth of imports remained at a somewhat lower figure.
In value terms, virgin olive oil imports declined to $X in 2022. Overall, imports continue to indicate a mild slump. The pace of growth appeared the most rapid in 2016 with an increase of X% against the previous year. As a result, imports reached the peak of $X. From 2017 to 2022, the growth of imports remained at a lower figure.
Imports by Country
Cote d'Ivoire (X tons) and Ghana (X tons) represented the main importers of virgin olive oil in 2022, finishing at approx. X% and X% of total imports, respectively. Cabo Verde (X tons) ranks next in terms of the total imports with a X% share, followed by Liberia (X%), Guinea-Bissau (X%), Mali (X%) and Senegal (X%).
From 2012 to 2022, the biggest increases were recorded for Mali (with a CAGR of X%), while purchases for the other leaders experienced more modest paces of growth.
In value terms, Cote d'Ivoire ($X), Ghana ($X) and Liberia ($X) were the countries with the highest levels of imports in 2022, with a combined X% share of total imports. Cabo Verde, Guinea-Bissau, Mali and Senegal lagged somewhat behind, together comprising a further X%.
Among the main importing countries, Mali, with a CAGR of X%, saw 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 2022, the import price in ECOWAS amounted to $X per ton, increasing by X% against the previous year. Import price indicated a remarkable increase from 2012 to 2022: its price increased at an average annual rate of X% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, virgin olive oil import price increased by X% against 2019 indices. The pace of growth appeared the most rapid in 2014 an increase of X%. Over the period under review, import prices hit record highs in 2022 and is likely to see steady growth in the immediate term.
Prices varied noticeably by country of destination: amid the top importers, the country with the highest price was Liberia ($X per ton), while Cote d'Ivoire ($X per ton) 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.
Source: IndexBox Platform
Frequently Asked Questions (FAQ) :
This report provides an in-depth analysis of the virgin olive oil market in ECOWAS. Within it, you will discover the latest data on market trends and opportunities by country, consumption, production and price developments, as well as the global trade (imports and exports). The forecast exhibits the market prospects through 2030.
Product coverage:
- FCL 261 - Oil of Olives, Virgin
Country coverage:
- Benin
- Burkina Faso
- Cabo Verde
- Cote d'Ivoire
- Gambia
- Ghana
- Guinea
- Guinea-Bissau
- Liberia
- Mali
- Niger
- Nigeria
- Senegal
- Sierra Leone
- Togo
Data coverage:
- Market volume and value
- Per Capita consumption
- Forecast of the market dynamics in the medium term
- Production in ECOWAS, split by region and country
- Trade (exports and imports) in ECOWAS
- Export and import prices
- Market trends, drivers and restraints
- Key market players and their profiles
Reasons to buy this report:
- Take advantage of the latest data
- Find deeper insights into current market developments
- Discover vital success factors affecting the market
This report is designed for manufacturers, distributors, importers, and wholesalers, as well as for investors, consultants and advisors.
In this report, you can find information that helps you to make informed decisions on the following issues:
- How to diversify your business and benefit from new market opportunities
- How to load your idle production capacity
- How to boost your sales on overseas markets
- How to increase your profit margins
- How to make your supply chain more sustainable
- How to reduce your production and supply chain costs
- How to outsource production to other countries
- How to prepare your business for global expansion
While doing this research, we combine the accumulated expertise of our analysts and the capabilities of artificial intelligence. The AI-based platform, developed by our data scientists, constitutes the key working tool for business analysts, empowering them to discover deep insights and ideas from the marketing data.
-
1. INTRODUCTION
Making Data-Driven Decisions to Grow Your Business
- REPORT DESCRIPTION
- RESEARCH METHODOLOGY AND AI PLATFORM
- DATA-DRIVEN DECISIONS FOR YOUR BUSINESS
- GLOSSARY AND SPECIFIC TERMS
-
2. EXECUTIVE SUMMARY
A Quick Overview of Market Performance
- KEY FINDINGS
- MARKET TRENDS This Chapter is Available Only for the Professional Edition PRO
-
3. MARKET OVERVIEW
Understanding the Current State of The Market and Its Prospects
- MARKET SIZE
- CONSUMPTION BY COUNTRY
- MARKET FORECAST TO 2030
-
4. MOST PROMISING PRODUCT
Finding New Products to Diversify Your Business
This Chapter is Available Only for the Professional Edition PRO- TOP PRODUCTS TO DIVERSIFY YOUR BUSINESS
- BEST-SELLING PRODUCTS
- MOST CONSUMED PRODUCT
- MOST TRADED PRODUCT
- MOST PROFITABLE PRODUCT FOR EXPORT
-
5. MOST PROMISING SUPPLYING COUNTRIES
Choosing the Best Countries to Establish Your Sustainable Supply Chain
This Chapter is Available Only for the Professional Edition PRO- TOP COUNTRIES TO SOURCE YOUR PRODUCT
- TOP PRODUCING COUNTRIES
- TOP EXPORTING COUNTRIES
- LOW-COST EXPORTING COUNTRIES
-
6. MOST PROMISING OVERSEAS MARKETS
Choosing the Best Countries to Boost Your Exports
This Chapter is Available Only for the Professional Edition PRO- TOP OVERSEAS MARKETS FOR EXPORTING YOUR PRODUCT
- TOP CONSUMING MARKETS
- UNSATURATED MARKETS
- TOP IMPORTING MARKETS
- MOST PROFITABLE MARKETS
7. PRODUCTION
The Latest Trends and Insights into The Industry
- PRODUCTION VOLUME AND VALUE
- PRODUCTION BY COUNTRY
8. IMPORTS
The Largest Importers on The Market and How They Succeed
- IMPORTS FROM 2012–2023
- IMPORTS BY COUNTRY
- IMPORT PRICES BY COUNTRY
9. EXPORTS
The Largest Exporters on The Market and How They Succeed
- EXPORTS FROM 2012–2023
- EXPORTS BY COUNTRY
- EXPORT PRICES BY COUNTRY
-
10. PROFILES OF MAJOR PRODUCERS
The Largest Producers on The Market and Their Profiles
This Chapter is Available Only for the Professional Edition PRO -
11. COUNTRY PROFILES
The Largest Markets And Their Profiles
This Chapter is Available Only for the Professional Edition PRO- Benin
- Burkina Faso
- Cabo Verde
- Gambia
- Ghana
- Guinea
- Guinea-Bissau
- Liberia
- Mali
- Niger
- Nigeria
- Senegal
- Sierra Leone
- Togo
- Cote d'Ivoire
-
LIST OF TABLES
- Key Findings In 2023
- Market Volume, In Physical Terms, 2012–2023
- Market Value, 2012–2023
- Per Capita Consumption, By Country, 2018–2023
- Production, In Physical Terms, By Country, 2012–2023
- Imports, In Physical Terms, By Country, 2012–2023
- Imports, In Value Terms, By Country, 2012–2023
- Import Prices, By Country Of Destination, 2012–2023
- Exports, In Physical Terms, By Country, 2012–2023
- Exports, In Value Terms, By Country, 2012–2023
- Export Prices, By Country Of Origin, 2012–2023
-
LIST OF FIGURES
- Market Volume, In Physical Terms, 2012–2023
- Market Value, 2012–2023
- Consumption, By Country, 2023
- Market Volume Forecast to 2030
- Market Value Forecast to 2030
- Products: Market Size And Growth, By Type
- Products: Average Per Capita Consumption, By Type
- Products: Exports And Growth, By Type
- Products: Export Prices And Growth, By Type
- Production Volume And Growth
- Exports And Growth
- Export Prices And Growth
- Market Size And Growth
- Per Capita Consumption
- Imports And Growth
- Import Prices
- Production, In Physical Terms, 2012–2023
- Production, In Value Terms, 2012–2023
- Production, By Country, 2023
- Production, In Physical Terms, By Country, 2012–2023
- Imports, In Physical Terms, 2012–2023
- Imports, In Value Terms, 2012–2023
- Imports, In Physical Terms, By Country, 2023
- Imports, In Physical Terms, By Country, 2012–2023
- Imports, In Value Terms, By Country, 2012–2023
- Import Prices, By Country, 2012–2023
- Exports, In Physical Terms, 2012–2023
- Exports, In Value Terms, 2012–2023
- Exports, In Physical Terms, By Country, 2023
- Exports, In Physical Terms, By Country, 2012–2023
- Exports, In Value Terms, By Country, 2012–2023
- Export Prices, 2012–2023
Recommended reports
This report provides an in-depth analysis of the virgin olive oil market in Asia.
This report provides an in-depth analysis of the virgin olive oil market in the U.S..
This report provides an in-depth analysis of the virgin olive oil market in China.
This report provides an in-depth analysis of the virgin olive oil market in the EU.
This report provides an in-depth analysis of the global virgin olive oil market.