Western Africa: Organ Extracts Market 2024

Organ Extracts Market Size in Western Africa

After four years of growth, the West African organ extracts market decreased by -7.9% to $X in 2021. The total consumption indicated perceptible growth from 2012 to 2021: its value increased at an average annual rate of +3.5% 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 increased by +19.8% against 2015 indices. The level of consumption peaked at $X in 2020, and then declined in the following year.

Organ Extracts Production in Western Africa

In value terms, organ extracts production shrank to $X in 2021 estimated in export price. The total production indicated a pronounced expansion from 2012 to 2021: its value increased at an average annual rate of +2.5% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, production increased by +71.9% against 2014 indices. The growth pace was the most rapid in 2020 when the production volume increased by 14% against the previous year. As a result, production attained the peak level of $X, and then reduced in the following year.

Organ Extracts Exports

Exports in Western Africa

Organ extracts exports reduced sharply to X tons in 2021, waning by -30.3% on 2020. In general, exports saw a sharp decline. The pace of growth was the most pronounced in 2018 when exports increased by 912% against the previous year. Over the period under review, the exports attained the peak figure at X tons in 2013; however, from 2014 to 2021, the exports remained at a lower figure.

In value terms, organ extracts exports rose modestly to $X in 2021. Over the period under review, exports saw a precipitous slump. The most prominent rate of growth was recorded in 2018 when exports increased by 748% against the previous year. Over the period under review, the exports reached the peak figure at $X in 2013; however, from 2014 to 2021, the exports remained at a lower figure.

Exports by Country

Nigeria prevails in exports structure, reaching X tons, which was near 82% of total exports in 2021. Cote d'Ivoire (X kg) ranks second in terms of the total exports with a 9.4% share, followed by Ghana (5.3%).

Exports from Nigeria decreased at an average annual rate of -28.0% from 2012 to 2021. Cote d'Ivoire (-3.3%) and Ghana (-17.9%) illustrated a downward trend over the same period. While the share of Cote d'Ivoire (+8.6 p.p.) and Ghana (+3.3 p.p.) increased significantly in terms of the total exports from 2012-2021, the share of Nigeria (-14.8 p.p.) displayed negative dynamics.

In value terms, Nigeria ($X), Cote d'Ivoire ($X) and Ghana ($X) appeared to be the countries with the highest levels of exports in 2021, together comprising 93% of total exports.

In terms of the main exporting countries, Cote d'Ivoire, with a CAGR of +5.9%, recorded the highest growth rate of the value of exports, over the period under review, while shipments for the other leaders experienced a decline in the exports figures.

Export Prices by Country

In 2021, the export price in Western Africa amounted to $X per ton, jumping by 51% against the previous year. In general, the export price enjoyed a resilient increase. The pace of growth was the most pronounced in 2016 when the export price increased by 141%. As a result, the export price reached the peak level of $X per ton. From 2017 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 Cote d'Ivoire ($X per ton), while Ghana ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Cote d'Ivoire (+9.5%), while the other leaders experienced mixed trends in the export price figures.

Organ Extracts Imports

Imports in Western Africa

Organ extracts imports dropped notably to X tons in 2021, declining by -46.4% against the year before. Overall, imports continue to indicate a perceptible contraction. The growth pace was the most rapid in 2014 with an increase of 1,212% against the previous year. The volume of import peaked at X tons in 2015; however, from 2016 to 2021, imports stood at a somewhat lower figure.

In value terms, organ extracts imports fell to $X in 2021. In general, imports showed a noticeable decline. The most prominent rate of growth was recorded in 2014 with an increase of 96%. Over the period under review, imports attained the peak figure at $X in 2015; however, from 2016 to 2021, imports remained at a lower figure.

Imports by Country

Nigeria represented the key importing country with an import of around X tons, which reached 74% of total imports. Sierra Leone (X tons) held a 14% share (based on physical terms) of total imports, which put it in second place, followed by Ghana (6.3%). Mali (X kg) took a little share of total imports.

From 2012 to 2021, average annual rates of growth with regard to organ extracts imports into Nigeria stood at -6.4%. At the same time, Mali (+25.6%), Sierra Leone (+19.6%) and Ghana (+2.2%) displayed positive paces of growth. Moreover, Mali emerged as the fastest-growing importer imported in Western Africa, with a CAGR of +25.6% from 2012-2021. While the share of Sierra Leone (+12 p.p.), Ghana (+3 p.p.) and Mali (+2.2 p.p.) increased significantly in terms of the total imports from 2012-2021, the share of Nigeria (-11.1 p.p.) displayed negative dynamics.

In value terms, Nigeria ($X), Ghana ($X) and Mali ($X) were the countries with the highest levels of imports in 2021, together comprising 89% of total imports.

In terms of the main importing countries, Mali, with a CAGR of +43.5%, 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 mixed trends in the imports figures.

Import Prices by Country

In 2021, the import price in Western Africa amounted to $X per ton, surging by 76% against the previous year. Overall, the import price saw a pronounced increase. The pace of growth appeared the most rapid in 2013 an increase of 435%. As a result, import price attained the peak level of $X per ton. From 2014 to 2021, the import prices remained at a lower figure.

There were significant differences in the average prices amongst the major importing countries. In 2021, amid the top importers, the country with the highest price was Mali ($X per ton), while Sierra Leone ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Mali (+14.3%), while the other leaders experienced mixed trends in the import price figures.

Source: IndexBox Platform

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