Western Africa: Saccharin Market 2024

Saccharin Market Size in Western Africa

The West African saccharin market reduced rapidly to $X in 2021, which is down by -18% against the previous year. In general, consumption, however, enjoyed a mild increase. As a result, consumption attained the peak level of $X, and then declined notably in the following year.

Saccharin Production in Western Africa

In value terms, saccharin production declined modestly to $X in 2021 estimated in export price. The total output value increased at an average annual rate of +1.9% over the period from 2012 to 2021; the trend pattern remained consistent, with somewhat noticeable fluctuations being observed in certain years. The pace of growth appeared the most rapid in 2016 when the production volume increased by 6.3% against the previous year. Over the period under review, production reached the maximum level at $X in 2020, and then declined modestly in the following year.

Saccharin Exports

Exports in Western Africa

In 2021, shipments abroad of saccharin and its salts decreased by -44.5% to X kg, falling for the third consecutive year after two years of growth. Overall, exports showed a deep setback. The pace of growth appeared the most rapid in 2015 when exports increased by 243%. As a result, the exports attained the peak of X tons. From 2016 to 2021, the growth of the exports remained at a lower figure.

In value terms, saccharin exports contracted remarkably to $X in 2021. In general, exports continue to indicate a deep reduction. The pace of growth was the most pronounced in 2015 with an increase of 387% against the previous year. As a result, the exports attained the peak of $X. From 2016 to 2021, the growth of the exports remained at a lower figure.

Exports by Country

Senegal (X kg) represented roughly 100% of total exports in 2021.

Senegal was also the fastest-growing in terms of the saccharin and its salts exports, with a CAGR of -11.3% from 2012 to 2021. The shares of the largest exporters remained relatively stable throughout the analyzed period.

In value terms, Senegal ($X) also remains the largest saccharin supplier in Western Africa.

From 2012 to 2021, the average annual growth rate of value in Senegal stood at -9.9%.

Export Prices by Country

The export price in Western Africa stood at $X per ton in 2021, falling by -7.5% against the previous year. Over the last nine years, it increased at an average annual rate of +1.7%. The most prominent rate of growth was recorded in 2015 when the export price increased by 42% against the previous year. The level of export peaked at $X per ton in 2019; however, from 2020 to 2021, the export prices stood at a somewhat lower figure.

As there is only one major export destination, the average price level is determined by prices for Senegal.

From 2012 to 2021, the rate of growth in terms of prices for Senegal amounted to +1.7% per year.

Saccharin Imports

Imports in Western Africa

In 2021, the amount of saccharin and its salts imported in Western Africa declined remarkably to X tons, reducing by -28.7% against 2020. Overall, imports, however, posted a noticeable increase. The pace of growth was the most pronounced in 2020 with an increase of 126% against the previous year. As a result, imports attained the peak of X tons, and then fell markedly in the following year.

In value terms, saccharin imports contracted to $X in 2021. Total imports indicated a slight increase from 2012 to 2021: its value increased at an average annual rate of +1.2% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, imports increased by +85.1% against 2019 indices. The growth pace was the most rapid in 2020 when imports increased by 103%. As a result, imports reached the peak of $X, and then contracted in the following year.

Imports by Country

In 2021, Nigeria (X tons) was the major importer of saccharin and its salts, achieving 80% of total imports. It was distantly followed by Ghana (X tons), committing a 13% share of total imports. Benin (X tons) and Cote d'Ivoire (X tons) took a little share of total imports.

Nigeria was also the fastest-growing in terms of the saccharin and its salts imports, with a CAGR of +13.0% from 2012 to 2021. At the same time, Ghana (+7.3%) displayed positive paces of growth. By contrast, Cote d'Ivoire (-3.2%) and Benin (-21.2%) illustrated a downward trend over the same period. While the share of Nigeria (+45 p.p.) and Ghana (+4 p.p.) increased significantly in terms of the total imports from 2012-2021, the share of Benin (-42.2 p.p.) displayed negative dynamics. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Nigeria ($X) constitutes the largest market for imported saccharin and its salts in Western Africa, comprising 64% of total imports. The second position in the ranking was taken by Ghana ($X), with a 25% share of total imports. It was followed by Benin, with a 5.1% share.

From 2012 to 2021, the average annual growth rate of value in Nigeria amounted to +10.6%. The remaining importing countries recorded the following average annual rates of imports growth: Ghana (+7.9% per year) and Benin (-19.7% per year).

Import Prices by Country

The import price in Western Africa stood at $X per ton in 2021, growing by 28% against the previous year. In general, the import price, however, saw a slight curtailment. The most prominent rate of growth was recorded in 2014 when the import price increased by 40%. The level of import peaked at $X per ton in 2016; however, from 2017 to 2021, 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 Ghana ($X per ton), while Nigeria ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Benin (+1.9%), while the other leaders experienced mixed trends in the import price figures.

Source: IndexBox Platform

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