Western Africa: Modified Starches Market 2024

Modified Starches Market Size in Western Africa

The West African modified starches market rose notably to $X in 2023, picking up by X% against the previous year. The market value increased at an average annual rate of X% over the period from 2012 to 2023; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. Over the period under review, the market reached the peak level in 2023 and is likely to continue growth in the near future.

Modified Starches Production in Western Africa

In value terms, modified starches production contracted modestly to $X in 2023 estimated in export price. Overall, production continues to indicate resilient growth. The most prominent rate of growth was recorded in 2019 with an increase of X%. As a result, production reached the peak level of $X. From 2020 to 2023, production growth failed to regain momentum.

Modified Starches Exports

Exports in Western Africa

In 2023, shipments abroad of dextrins and other modified starches decreased by X% to X tons for the first time since 2018, thus ending a four-year rising trend. Over the period under review, exports, however, recorded buoyant growth. The most prominent rate of growth was recorded in 2020 when exports increased by X%. Over the period under review, the exports attained the maximum at X tons in 2022, and then fell in the following year.

In value terms, modified starches exports rose modestly to $X in 2023. In general, exports, however, enjoyed a strong increase. The pace of growth was the most pronounced in 2020 with an increase of X% against the previous year. The level of export peaked at $X in 2021; however, from 2022 to 2023, the exports remained at a lower figure.

Exports by Country

Senegal represented the key exporter of dextrins and other modified starches in Western Africa, with the volume of exports accounting for X tons, which was approx. X% of total exports in 2023. It was distantly followed by Cote d'Ivoire (X tons), achieving a X% share of total exports.

From 2012 to 2023, the biggest increases were recorded for Senegal (with a CAGR of X%).

In value terms, Senegal ($X) remains the largest modified starches supplier in Western Africa, comprising X% of total exports. The second position in the ranking was taken by Cote d'Ivoire ($X), with a X% share of total exports.

From 2012 to 2023, the average annual rate of growth in terms of value in Senegal totaled X%.

Export Prices by Country

The export price in Western Africa stood at $X per ton in 2023, growing by X% against the previous year. Export price indicated a mild expansion 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, modified starches export price decreased by X% against 2020 indices. The pace of growth appeared the most rapid in 2019 an increase of X% against the previous year. Over the period under review, the export prices hit record highs at $X per ton in 2020; however, from 2021 to 2023, the export prices remained at a lower figure.

Prices varied noticeably by country of origin: amid the top suppliers, the country with the highest price was Senegal ($X per ton), while Cote d'Ivoire amounted to $X per ton.

From 2012 to 2023, the most notable rate of growth in terms of prices was attained by Cote d'Ivoire (X%).

Modified Starches Imports

Imports in Western Africa

In 2023, the amount of dextrins and other modified starches imported in Western Africa fell dramatically to X tons, with a decrease of X% against the year before. Overall, imports recorded a slight reduction. The most prominent rate of growth was recorded in 2020 with an increase of X% against the previous year. As a result, imports attained the peak of X tons. From 2021 to 2023, the growth of imports remained at a lower figure.

In value terms, modified starches imports shrank to $X in 2023. Over the period under review, imports saw a relatively flat trend pattern. The most prominent rate of growth was recorded in 2020 with an increase of X%. Over the period under review, imports attained the peak figure at $X in 2022, and then reduced in the following year.

Imports by Country

Nigeria was the key importer of dextrins and other modified starches in Western Africa, with the volume of imports accounting for X tons, which was approx. X% of total imports in 2023. Senegal (X tons) held the second position in the ranking, followed by Ghana (X tons), Togo (X tons), Cote d'Ivoire (X tons) and Mauritania (X tons). All these countries together took approx. X% share of total imports. Niger (X tons) 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, Mauritania (X%), Senegal (X%), Cote d'Ivoire (X%), Niger (X%), Togo (X%) and Ghana (X%) displayed positive paces of growth. Moreover, Mauritania emerged as the fastest-growing importer imported in Western Africa, with a CAGR of X% from 2012-2023. Senegal (X p.p.), Togo (X p.p.), Cote d'Ivoire (X p.p.), Ghana (X p.p.), Mauritania (X p.p.) and Niger (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.

In value terms, Nigeria ($X) constitutes the largest market for imported dextrins and other modified starches in Western Africa, comprising X% of total imports. The second position in the ranking was taken by Senegal ($X), with a X% share of total imports. It was followed by Ghana, with a X% share.

From 2012 to 2023, the average annual rate of growth in terms of value in Nigeria totaled X%. In the other countries, the average annual rates were as follows: Senegal (X% per year) and Ghana (X% per year).

Import Prices by Country

In 2023, the import price in Western Africa amounted to $X per ton, with an increase of X% against the previous year. Import price indicated a modest expansion 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, modified starches import price increased by X% against 2019 indices. The pace of growth was the most pronounced in 2020 an increase of X% against the previous year. Over the period under review, import prices attained the maximum in 2023 and is expected to retain growth in the near future.

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

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

Source: IndexBox Platform