Western Africa: Market for Glycosides And Vegetable Alkaloids 2024

Market Size for Glycosides And Vegetable Alkaloids in Western Africa

After five years of growth, the West African glycosides and vegetable alkaloids market decreased by -24.6% to $X in 2021. Over the period under review, consumption saw a relatively flat trend pattern. As a result, consumption attained the peak level of $X, and then declined markedly in the following year.

Production of Glycosides And Vegetable Alkaloids in Western Africa

In value terms, glycosides and vegetable alkaloids production fell to $X in 2021 estimated in export price. Overall, production continues to indicate a relatively flat trend pattern. The pace of growth was the most pronounced in 2020 when the production volume increased by 37% against the previous year. As a result, production attained the peak level of $X, and then shrank in the following year.

Exports of Glycosides And Vegetable Alkaloids

Exports in Western Africa

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. In general, exports, however, recorded a mild descent. 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 skyrocketed to $X in 2021. Over the period under review, exports, however, showed a sharp slump. The level of export peaked at $X in 2014; however, from 2015 to 2021, the exports failed to regain momentum.

Exports by Country

Nigeria was the main exporter of glycosides and vegetable alkaloids in Western Africa, with the volume of exports recording X tons, which was near 74% of total exports in 2021. It was distantly followed by Cote d'Ivoire (X tons), constituting a 23% share of total exports. Senegal (X kg) held a relatively small 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 Western Africa, with a CAGR of +2,214.6% from 2012-2021. By contrast, Senegal (-33.4%) illustrated a downward trend over the same period. From 2012 to 2021, the share of Nigeria and Cote d'Ivoire increased by +74 and +23 percentage points, respectively.

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

From 2012 to 2021, the average annual rate of growth in terms of value in Cote d'Ivoire totaled +1,695.1%. 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

In 2021, the export price in Western Africa amounted to $X per ton, which is down by -90.8% against the previous year. Overall, the export price recorded a significant curtailment. 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 reached the peak level of $X per ton. From 2020 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 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 Western Africa

In 2021, imports of glycosides and vegetable alkaloids in Western Africa fell dramatically to X tons, reducing by -78% against the year before. Overall, imports, however, continue to indicate a moderate increase. The pace of growth appeared the most rapid in 2020 with an increase of 226% against the previous year. As a result, imports reached the peak of X tons, and then dropped remarkably in the following year.

In value terms, glycosides and vegetable alkaloids imports shrank sharply to $X in 2021. In general, imports, however, enjoyed a pronounced increase. The pace of growth was the most pronounced in 2020 with an increase of 131%. As a result, imports reached the peak of $X, and then contracted dramatically in the following year.

Imports by Country

Nigeria was the main importer of glycosides and vegetable alkaloids in Western Africa, with the volume of imports reaching X tons, which was approx. 78% of total imports in 2021. It was distantly followed by Ghana (X tons), mixing up 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 Western Africa, 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 Western Africa were Nigeria ($X), Ghana ($X) and Togo ($X), with a combined 85% share of total imports.

In terms of the main importing countries, Togo, with a CAGR of +30.3%, 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, rising by 102% against the previous year. Over the period under review, 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 stood at a somewhat 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

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