Western Africa: Maltodextrine Market 2024

Maltodextrine Market Size in Western Africa

The West African maltodextrine market rose to $X in 2021, growing by 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. The level of consumption peaked at $X in 2019; however, from 2020 to 2021, consumption stood at a somewhat lower figure.

Maltodextrine Production in Western Africa

In value terms, maltodextrine production rose modestly to $X in 2021 estimated in export price. The total production indicated strong 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 when the production volume increased by 19% against the previous year. 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 Western Africa

In 2021, shipments abroad of maltodextrine and maltodextine syrup increased by 154% to X tons for the first time since 2018, thus ending a two-year declining trend. Overall, exports enjoyed significant growth. The pace of growth was the most pronounced in 2016 with an increase of 248% against the previous year. Over the period under review, the exports attained the maximum in 2021 and are expected to retain growth in years to come.

In value terms, maltodextrine exports surged to $X in 2021. In general, exports showed a buoyant increase. The most prominent rate of growth was recorded in 2016 with an increase of 278% against the previous year. The level of export peaked in 2021 and is expected to retain growth in the immediate term.

Exports by Country

Senegal dominates exports structure, resulting at X tons, which was approx. 90% of total exports in 2021. Mauritania (X tons) and 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, Mauritania (+46.0%) and Sierra Leone (+35.7%) displayed positive paces of growth. While the share of Senegal (+83 p.p.) and Mauritania (+2.9 p.p.) increased significantly, the shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Senegal ($X) remains the largest maltodextrine supplier in Western Africa, comprising 73% of total exports. The second position in the ranking was taken by Sierra Leone ($X), with a 3.3% share of total exports.

From 2012 to 2021, the average annual rate of growth in terms of value in Senegal totaled +48.3%. In the other countries, the average annual rates were as follows: Sierra Leone (+24.3% per year) and Mauritania (+22.9% per year).

Export Prices by Country

The export price in Western Africa stood at $X per ton in 2021, reducing by -17.2% against the previous year. Overall, the export price continues to indicate a perceptible slump. The most prominent rate of growth was recorded in 2020 when the export price increased by 35%. The level of export peaked 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 ($X per ton), while Mauritania ($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 (-6.8%), while the other leaders experienced a decline in the export price figures.

Maltodextrine Imports

Imports in Western Africa

In 2021, after four years of growth, there was significant decline in supplies from abroad of maltodextrine and maltodextine syrup, when their volume decreased by -34.1% to X tons. Over the period under review, imports, however, posted a notable expansion. The pace of growth appeared the most rapid in 2019 when imports increased by 65%. Over the period under review, imports attained the maximum at X tons in 2020, and then fell sharply in the following year.

In value terms, maltodextrine imports shrank rapidly to $X in 2021. Overall, imports, however, posted a noticeable expansion. The growth pace was the most rapid in 2020 when imports increased by 44% against the previous year. As a result, imports attained the peak of $X, and then plummeted in the following year.

Imports by Country

In 2021, Nigeria (X tons) was the major importer of maltodextrine and maltodextine syrup, creating 55% of total imports. Senegal (X tons) ranks second in terms of the total imports with a 19% share, followed by Ghana (11%) and Cote d'Ivoire (9.7%). 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 Western Africa, with a CAGR of +36.7% from 2012-2021. By contrast, Togo (-4.3%) illustrated a downward trend over the same period. Ghana (+10 p.p.), Cote d'Ivoire (+5.9 p.p.) and Senegal (+3.3 p.p.) significantly strengthened its position in terms of the total imports, while Togo and Nigeria saw its share reduced by -2.3% and -19.6% from 2012 to 2021, respectively.

In value terms, Nigeria ($X) constitutes the largest market for imported maltodextrine and maltodextine syrup in Western Africa, comprising 58% of total imports. The second position in the ranking was taken by Senegal ($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

The import price in Western Africa stood at $X per ton in 2021, with an increase of 2.3% against the previous year. Overall, the import price, however, showed a relatively flat trend pattern. The growth pace was the most rapid 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.

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 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

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