ECOWAS: Market for Glycosides And Vegetable Alkaloids 2024

Market Size for Glycosides And Vegetable Alkaloids in ECOWAS

In 2021, the ECOWAS glycosides and vegetable alkaloids market decreased by -25.2% to $X for the first time since 2015, thus ending a five-year rising trend. In general, consumption recorded a relatively flat trend pattern. As a result, consumption attained the peak level of $X, and then shrank remarkably in the following year.

Production of Glycosides And Vegetable Alkaloids in ECOWAS

In value terms, glycosides and vegetable alkaloids production declined to $X in 2021 estimated in export price. Overall, production saw a mild curtailment. The most prominent rate of growth was recorded in 2020 with an increase of 35%. As a result, production attained the peak level of $X, and then reduced in the following year.

Exports of Glycosides And Vegetable Alkaloids

Exports in ECOWAS

In 2021, overseas shipments of glycosides and vegetable alkaloids were finally on the rise to reach X tons for the first time since 2018, thus ending a two-year declining trend. Over the period under review, exports, however, recorded a slight curtailment. The volume of export peaked at X tons in 2012; however, from 2013 to 2021, the exports failed to regain momentum.

In value terms, glycosides and vegetable alkaloids exports surged to $X in 2021. Overall, exports, however, saw a sharp contraction. Over the period under review, the exports hit record highs at $X in 2014; however, from 2015 to 2021, the exports failed to regain momentum.

Exports by Country

Nigeria represented the largest exporter of glycosides and vegetable alkaloids in ECOWAS, with the volume of exports finishing at X tons, which was near 74% of total exports in 2021. It was distantly followed by Cote d'Ivoire (X tons), mixing up a 23% share of total exports. Senegal (X kg) held a minor share of total exports.

From 2012 to 2021, average annual rates of growth with regard to glycosides and vegetable alkaloids exports from Nigeria stood at +159.7%. At the same time, Cote d'Ivoire (+2,214.6%) displayed positive paces of growth. Moreover, Cote d'Ivoire emerged as the fastest-growing exporter exported in ECOWAS, with a CAGR of +2,214.6% from 2012-2021. By contrast, Senegal (-33.4%) illustrated a downward trend over the same period. While the share of Nigeria (+74 p.p.) and Cote d'Ivoire (+23 p.p.) increased significantly in terms of the total exports from 2012-2021, the share of Senegal (-89.6 p.p.) displayed negative dynamics.

In value terms, Cote d'Ivoire ($X) emerged as the largest glycosides and vegetable alkaloids supplier in ECOWAS, comprising 66% of total exports. The second position in the ranking was held by Senegal ($X), with a 32% share of total exports.

In Cote d'Ivoire, glycosides and vegetable alkaloids exports expanded at an average annual rate of +1,695.1% over the period from 2012-2021. In the other countries, the average annual rates were as follows: Senegal (-31.9% per year) and Nigeria (-16.7% per year).

Export Prices by Country

The export price in ECOWAS stood at $X per ton in 2021, waning by -90.8% against the previous year. In general, the export price continues to indicate a sharp descent. The growth pace was the most rapid in 2019 when the export price increased by 26% against the previous year. As a result, the export price attained the peak level of $X per ton. From 2020 to 2021, the export prices remained at a somewhat lower figure.

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

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Senegal (+2.2%), while the other leaders experienced a decline in the export price figures.

Imports of Glycosides And Vegetable Alkaloids

Imports in ECOWAS

In 2021, approx. X tons of glycosides and vegetable alkaloids were imported in ECOWAS; shrinking by -78% on the previous year's figure. Over the period under review, imports, however, enjoyed a measured expansion. The growth pace was the most rapid in 2020 when imports increased by 226% against the previous year. As a result, imports attained the peak of X tons, and then dropped remarkably in the following year.

In value terms, glycosides and vegetable alkaloids imports dropped dramatically to $X in 2021. In general, imports, however, continue to indicate a pronounced increase. The most prominent rate of growth was recorded in 2020 when imports increased by 131% against the previous year. As a result, imports reached the peak of $X, and then contracted remarkably in the following year.

Imports by Country

Nigeria represented the key importing country with an import of about X tons, which recorded 78% of total imports. It was distantly followed by Ghana (X tons), generating an 18% share of total imports. Togo (X tons) followed a long way behind the leaders.

From 2012 to 2021, average annual rates of growth with regard to glycosides and vegetable alkaloids imports into Nigeria stood at +6.4%. At the same time, Togo (+18.9%) displayed positive paces of growth. Moreover, Togo emerged as the fastest-growing importer imported in ECOWAS, with a CAGR of +18.9% from 2012-2021. By contrast, Ghana (-7.1%) illustrated a downward trend over the same period. Nigeria (+23 p.p.) and Togo (+2.1 p.p.) significantly strengthened its position in terms of the total imports, while Ghana saw its share reduced by -24.8% from 2012 to 2021, respectively.

In value terms, the largest glycosides and vegetable alkaloids importing markets in ECOWAS were Nigeria ($X), Ghana ($X) and Togo ($X), with a combined 85% share of total imports.

Togo, with a CAGR of +30.3%, recorded the highest growth rate of the value of imports, among the main importing countries over the period under review, while purchases for the other leaders experienced mixed trends in the imports figures.

Import Prices by Country

In 2021, the import price in ECOWAS amounted to $X per ton, jumping by 102% against the previous year. Overall, the import price continues to indicate a relatively flat trend pattern. The level of import peaked at $X per ton in 2014; however, from 2015 to 2021, import prices remained at a lower figure.

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

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Ghana (+14.6%), while the other leaders experienced mixed trends in the import price figures.

Source: IndexBox Platform