ECOWAS: Maltodextrine Market 2024

Maltodextrine Market Size in ECOWAS

The ECOWAS maltodextrine market stood at $X in 2021, with an increase of 1.8% against the previous year. The total consumption indicated buoyant growth from 2012 to 2021: its value increased at an average annual rate of +5.2% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, consumption decreased by -3.4% against 2019 indices. Over the period under review, the market attained the peak level at $X in 2019; however, from 2020 to 2021, consumption failed to regain momentum.

Maltodextrine Production in ECOWAS

In value terms, maltodextrine production stood at $X in 2021 estimated in export price. The total production indicated resilient growth from 2012 to 2021: its value increased at an average annual rate of +5.4% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, production decreased by -2.9% against 2019 indices. The most prominent rate of growth was recorded in 2018 with an increase of 19%. Over the period under review, production reached the peak level at $X in 2019; however, from 2020 to 2021, production remained at a lower figure.

Maltodextrine Exports

Exports in ECOWAS

After two years of decline, overseas shipments of maltodextrine and maltodextine syrup increased by 160% to X tons in 2021. Over the period under review, exports enjoyed a buoyant expansion. The most prominent rate of growth was recorded in 2016 with an increase of 249% against the previous year. Over the period under review, the exports hit record highs in 2021 and are likely to see gradual growth in the near future.

In value terms, maltodextrine exports skyrocketed to $X in 2021. Overall, exports posted resilient growth. The most prominent rate of growth was recorded in 2016 with an increase of 281% against the previous year. Over the period under review, the exports hit record highs in 2021 and are expected to retain growth in the immediate term.

Exports by Country

Senegal prevails in exports structure, resulting at X tons, which was approx. 93% of total exports in 2021. Sierra Leone (X tons) followed a long way behind the leaders.

Senegal was also the fastest-growing in terms of the maltodextrine and maltodextine syrup exports, with a CAGR of +59.1% from 2012 to 2021. At the same time, Sierra Leone (+35.7%) displayed positive paces of growth. While the share of Senegal (+86 p.p.) increased significantly, the shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Senegal ($X) remains the largest maltodextrine supplier in ECOWAS, comprising 75% of total exports. The second position in the ranking was taken by Sierra Leone ($X), with a 3.3% share of total exports.

In Senegal, maltodextrine exports increased at an average annual rate of +48.3% over the period from 2012-2021.

Export Prices by Country

In 2021, the export price in ECOWAS amounted to $X per ton, dropping by -19.5% against the previous year. In general, the export price showed a noticeable downturn. The pace of growth appeared the most rapid in 2020 when the export price increased by 41%. Over the period under review, the export prices reached the peak figure at $X per ton in 2014; however, from 2015 to 2021, the export prices remained at a lower figure.

There were significant differences in the average prices amongst the major exporting countries. In 2021, amid the top suppliers, the country with the highest price was Sierra Leone ($X per ton), while Senegal totaled $X per ton.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Senegal (-6.8%).

Maltodextrine Imports

Imports in ECOWAS

After four years of growth, supplies from abroad of maltodextrine and maltodextine syrup decreased by -34.1% to X tons in 2021. Overall, imports, however, posted tangible growth. The most prominent rate of growth was recorded in 2019 when imports increased by 65%. The volume of import peaked at X tons in 2020, and then fell rapidly in the following year.

In value terms, maltodextrine imports declined markedly to $X in 2021. In general, imports, however, saw a measured expansion. The pace of growth was the most pronounced in 2020 when imports increased by 44%. As a result, imports attained the peak of $X, and then reduced remarkably in the following year.

Imports by Country

In 2021, Nigeria (X tons) was the key importer of maltodextrine and maltodextine syrup, generating 55% of total imports. Senegal (X tons) took the second position in the ranking, distantly followed by Ghana (X tons) and Cote d'Ivoire (X tons). All these countries together took approx. 40% 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 maltodextrine imports into Nigeria stood at +1.2%. At the same time, Ghana (+36.7%), Cote d'Ivoire (+16.2%) and Senegal (+7.0%) displayed positive paces of growth. Moreover, Ghana emerged as the fastest-growing importer imported in ECOWAS, with a CAGR of +36.7% from 2012-2021. By contrast, Togo (-4.3%) illustrated a downward trend over the same period. From 2012 to 2021, the share of Ghana, Cote d'Ivoire and Senegal increased by +10, +5.9 and +3.3 percentage points, respectively.

In value terms, Nigeria ($X) constitutes the largest market for imported maltodextrine and maltodextine syrup in ECOWAS, comprising 58% of total imports. The second position in the ranking was held by Senegal ($X), with a 14% share of total imports. It was followed by Ghana, with a 12% share.

In Nigeria, maltodextrine imports increased at an average annual rate of +1.8% over the period from 2012-2021. The remaining importing countries recorded the following average annual rates of imports growth: Senegal (+2.4% per year) and Ghana (+31.7% per year).

Import Prices by Country

In 2021, the import price in ECOWAS amounted to $X per ton, surging by 2.3% against the previous year. Overall, the import price, however, showed a relatively flat trend pattern. The pace of growth was the most pronounced in 2020 when the import price increased by 17% against the previous year. Over the period under review, import prices hit record highs at $X per ton in 2014; however, from 2015 to 2021, 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 ($X per ton), while Senegal ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Togo (+6.8%), while the other leaders experienced mixed trends in the import price figures.

Source: IndexBox Platform