ECOWAS: Market for Casein Glues And Caseinates And Other Casein Derivatives 2024

Market Size for Casein Glues And Caseinates And Other Casein Derivatives in ECOWAS

In 2022, the ECOWAS casein glue and caseinates market decreased by -0.2% to $X, falling for the second year in a row after three years of growth. The total consumption indicated a strong increase from 2012 to 2022: its value increased at an average annual rate of +7.2% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, consumption decreased by -4.1% against 2020 indices. Over the period under review, the market reached the maximum level at $X in 2020; however, from 2021 to 2022, consumption failed to regain momentum.

Production of Casein Glues And Caseinates And Other Casein Derivatives in ECOWAS

In value terms, casein glue and caseinates production stood at $X in 2022 estimated in export price. The total production indicated a resilient increase from 2012 to 2022: its value increased at an average annual rate of +8.4% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, production decreased by -3.9% against 2020 indices. The pace of growth appeared the most rapid in 2014 with an increase of 48%. The level of production peaked at $X in 2020; however, from 2021 to 2022, production stood at a somewhat lower figure.

Exports of Casein Glues And Caseinates And Other Casein Derivatives

Exports in ECOWAS

In 2022, approx. X tons of casein glues and caseinates and other casein derivatives were exported in ECOWAS; growing by 8.1% against the previous year's figure. In general, exports posted a significant expansion. The growth pace was the most rapid in 2015 with an increase of 1,279%. Over the period under review, the exports reached the peak figure at X tons in 2020; however, from 2021 to 2022, the exports stood at a somewhat lower figure.

In value terms, casein glue and caseinates exports totaled $X in 2022. Over the period under review, exports showed a significant increase. The growth pace was the most rapid in 2015 with an increase of 1,840% against the previous year. As a result, the exports attained the peak of $X. From 2016 to 2022, the growth of the exports failed to regain momentum.

Exports by Country

Nigeria (X tons) and Cote d'Ivoire (X tons) dominates exports structure, together creating 95% of total exports. It was distantly followed by Togo (X tons), creating a 5% share of total exports.

From 2012 to 2022, the biggest increases were recorded for Cote d'Ivoire (with a CAGR of +64.0%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, the largest casein glue and caseinates supplying countries in ECOWAS were Cote d'Ivoire ($X), Nigeria ($X) and Togo ($X).

Among the main exporting countries, Cote d'Ivoire, with a CAGR of +76.1%, 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

In 2022, the export price in ECOWAS amounted to $X per ton, with a decrease of -3% against the previous year. Overall, the export price recorded a relatively flat trend pattern. The pace of growth was the most pronounced in 2017 when the export price increased by 93%. The level of export peaked at $X per ton in 2018; however, from 2019 to 2022, the export prices failed to regain momentum.

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

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Togo (+8.1%), while the other leaders experienced more modest paces of growth.

Imports of Casein Glues And Caseinates And Other Casein Derivatives

Imports in ECOWAS

In 2022, approx. X tons of casein glues and caseinates and other casein derivatives were imported in ECOWAS; waning by -27.6% against the previous year's figure. Over the period under review, imports, however, continue to indicate a relatively flat trend pattern. The pace of growth was the most pronounced in 2019 with an increase of 34% against the previous year. The volume of import peaked at X tons in 2014; however, from 2015 to 2022, imports stood at a somewhat lower figure.

In value terms, casein glue and caseinates imports declined significantly to $X in 2022. Overall, imports continue to indicate a slight contraction. The most prominent rate of growth was recorded in 2014 with an increase of 45% against the previous year. As a result, imports reached the peak of $X. From 2015 to 2022, the growth of imports remained at a somewhat lower figure.

Imports by Country

The countries with the highest levels of casein glue and caseinates imports in 2022 were Cote d'Ivoire (X tons), Ghana (X tons) and Nigeria (X tons), together reaching 86% of total import. It was distantly followed by Togo (X tons), creating a 7.8% share of total imports. Burkina Faso (X tons) followed a long way behind the leaders.

From 2012 to 2022, the biggest increases were recorded for Cote d'Ivoire (with a CAGR of +52.1%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, the largest casein glue and caseinates importing markets in ECOWAS were Cote d'Ivoire ($X), Ghana ($X) and Nigeria ($X), together accounting for 82% of total imports.

In terms of the main importing countries, Cote d'Ivoire, with a CAGR of +39.2%, 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

The import price in ECOWAS stood at $X per ton in 2022, growing by 6.1% against the previous year. Over the period under review, the import price, however, continues to indicate a mild reduction. The most prominent rate of growth was recorded in 2014 when the import price increased by 10% against the previous year. As a result, import price attained the peak level of $X per ton. From 2015 to 2022, the import prices remained at a lower figure.

Average prices varied somewhat amongst the major importing countries. In 2022, major importing countries recorded the following prices: in Burkina Faso ($X per ton) and Togo ($X per ton), while Ghana ($X per ton) and Cote d'Ivoire ($X per ton) were amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Nigeria (-1.6%), while the other leaders experienced a decline in the import price figures.

Source: IndexBox Platform