Western Africa: Sparkling Wine Market 2024

Sparkling Wine Market Size in Western Africa

In 2023, the West African sparkling wine market decreased by X% to $X, falling for the second consecutive year after six years of growth. The total consumption indicated a strong expansion from 2012 to 2023: its value increased at an average annual rate of X% over the last eleven-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2023 figures, consumption decreased by X% against 2021 indices. Over the period under review, the market reached the peak level at $X in 2021; however, from 2022 to 2023, consumption failed to regain momentum.

Sparkling Wine Production in Western Africa

In value terms, sparkling wine production amounted to $X in 2023 estimated in export price. The total production indicated prominent growth 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. Based on 2023 figures, production decreased by X% against 2021 indices. The pace of growth was the most pronounced in 2016 with an increase of X%. Over the period under review, production reached the maximum level at $X in 2021; however, from 2022 to 2023, production remained at a lower figure.

Sparkling Wine Exports

Exports in Western Africa

In 2023, the amount of sparkling wine exported in Western Africa soared to X litres, with an increase of X% compared with the previous year. In general, exports enjoyed a significant increase. The growth pace was the most rapid in 2021 with an increase of X%. Over the period under review, the exports attained the maximum in 2023 and are likely to see steady growth in the immediate term.

In value terms, sparkling wine exports skyrocketed to $X in 2023. Overall, exports posted a strong expansion. The growth pace was the most rapid in 2021 when exports increased by X%. Over the period under review, the exports attained the maximum in 2023 and are likely to see steady growth in the near future.

Exports by Country

Ghana prevails in exports structure, reaching X litres, which was near X% of total exports in 2023. Togo (X litres) and Burkina Faso (X litres) held a little share of total exports.

Ghana was also the fastest-growing in terms of the sparkling wine exports, with a CAGR of X% from 2012 to 2023. At the same time, Togo (X%) and Burkina Faso (X%) displayed positive paces of growth. From 2012 to 2023, the share of Ghana increased by X percentage points.

In value terms, Ghana ($X) remains the largest sparkling wine supplier in Western Africa, comprising X% of total exports. The second position in the ranking was held by Burkina Faso ($X), with a X% share of total exports.

From 2012 to 2023, the average annual growth rate of value in Ghana amounted to X%. The remaining exporting countries recorded the following average annual rates of exports growth: Burkina Faso (X% per year) and Togo (X% per year).

Export Prices by Country

In 2023, the export price in Western Africa amounted to $X per litre, with an increase of X% against the previous year. Overall, the export price, however, showed a deep reduction. The pace of growth was the most pronounced in 2016 when the export price increased by X%. The level of export peaked at $X per litre in 2013; however, from 2014 to 2023, 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 Burkina Faso ($X per litre), while Ghana ($X per litre) 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.

Sparkling Wine Imports

Imports in Western Africa

Sparkling wine imports dropped sharply to X litres in 2023, shrinking by X% on 2022. Overall, imports recorded a perceptible reduction. The pace of growth appeared the most rapid in 2019 when imports increased by X%. Over the period under review, imports attained the maximum at X litres in 2014; however, from 2015 to 2023, imports remained at a lower figure.

In value terms, sparkling wine imports reduced to $X in 2023. In general, imports, however, saw a noticeable increase. The most prominent rate of growth was recorded in 2014 with an increase of X%. As a result, imports reached the peak of $X. From 2015 to 2023, the growth of imports remained at a lower figure.

Imports by Country

Nigeria represented the main importing country with an import of around X litres, which amounted to X% of total imports. Cote d'Ivoire (X litres) took a X% share (based on physical terms) of total imports, which put it in second place, followed by Ghana (X%). Togo (X litres), Burkina Faso (X litres) and Benin (X litres) followed a long way behind the leaders.

Imports into Nigeria decreased at an average annual rate of X% from 2012 to 2023. At the same time, Togo (X%), Cote d'Ivoire (X%), Ghana (X%), Burkina Faso (X%) and Benin (X%) displayed positive paces of growth. Moreover, Togo emerged as the fastest-growing importer imported in Western Africa, with a CAGR of X% from 2012-2023. Cote d'Ivoire (X p.p.), Ghana (X p.p.), Togo (X p.p.) and Burkina Faso (X p.p.) significantly strengthened its position in terms of the total imports, while Nigeria 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, the largest sparkling wine importing markets in Western Africa were Cote d'Ivoire ($X), Nigeria ($X) and Ghana ($X), with a combined X% share of total imports. Togo, Burkina Faso and Benin lagged somewhat behind, together comprising a further X%.

In terms of the main importing countries, Togo, with a CAGR of X%, recorded the highest rates of growth with regard to 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 litre, picking up by X% against the previous year. Overall, the import price recorded a remarkable increase. The most prominent rate of growth was recorded in 2015 an increase of X%. The level of import peaked at $X per litre in 2016; however, from 2017 to 2023, import prices failed to regain momentum.

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

From 2012 to 2023, 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