Western Africa - Maize (Corn) Starch - Market Analysis, Forecast, Size, Trends and Insights
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View PricingWestern Africa: Maize Starch Market 2024
Maize Starch Market Size in Western Africa
In 2022, the West African maize starch market decreased by X% to $X, falling for the second year in a row after three years of growth. The total consumption indicated a measured expansion from 2012 to 2022: its value increased at an average annual rate of X% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, consumption decreased by X% against 2020 indices. The level of consumption peaked at $X in 2020; however, from 2021 to 2022, consumption failed to regain momentum.
Maize Starch Production in Western Africa
In value terms, maize starch production reached $X in 2022 estimated in export price. The total output value increased at an average annual rate of X% from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The pace of growth was the most pronounced in 2019 with an increase of X%. The level of production peaked at $X in 2020; however, from 2021 to 2022, production failed to regain momentum.
Maize Starch Exports
Exports in Western Africa
In 2022, after six years of growth, there was significant decline in shipments abroad of maize (corn) starch, when their volume decreased by X% to X tons. Over the period under review, exports, however, posted a moderate increase. The most prominent rate of growth was recorded in 2016 when exports increased by X% against the previous year. The volume of export peaked at X tons in 2021, and then reduced notably in the following year.
In value terms, maize starch exports reduced markedly to $X in 2022. Overall, exports, however, showed a resilient increase. The growth pace was the most rapid in 2016 when exports increased by X% against the previous year. The level of export peaked at $X in 2021, and then reduced notably in the following year.
Exports by Country
Senegal represented the major exporting country with an export of about X tons, which recorded X% of total exports. Ghana (X tons) ranks second in terms of the total exports with a X% share, followed by Nigeria (X%) and Togo (X%). Niger (X tons) held a little share of total exports.
Senegal was also the fastest-growing in terms of the maize (corn) starch exports, with a CAGR of X% from 2012 to 2022. At the same time, Togo (X%) and Nigeria (X%) displayed positive paces of growth. Niger experienced a relatively flat trend pattern. By contrast, Ghana (X%) illustrated a downward trend over the same period. From 2012 to 2022, the share of Senegal, Nigeria, Togo and Niger increased by X, X, X and X percentage points, respectively.
In value terms, the largest maize starch supplying countries in Western Africa were Senegal ($X), Nigeria ($X) and Ghana ($X), together accounting for X% of total exports. Togo and Niger lagged somewhat behind, together accounting for a further X%.
Togo, with a CAGR of X%, recorded the highest growth rate of the value of exports, among the main exporting countries over the period under review, while shipments for the other leaders experienced more modest paces of growth.
Export Prices by Country
In 2022, the export price in Western Africa amounted to $X per ton, surging by X% against the previous year. Export price indicated a temperate expansion from 2012 to 2022: its price increased at an average annual rate of X% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, maize starch export price increased by X% against 2018 indices. The pace of growth was the most pronounced in 2014 when the export price increased by X% against the previous year. Over the period under review, the export prices reached the peak figure in 2022 and is likely to see gradual growth in years to come.
There were significant differences in the average prices amongst the major exporting countries. In 2022, amid the top suppliers, the country with the highest price was Niger ($X per ton), while Senegal ($X per ton) was amongst the lowest.
From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Togo (X%), while the other leaders experienced more modest paces of growth.
Maize Starch Imports
Imports in Western Africa
In 2022, overseas purchases of maize (corn) starch decreased by X% to X tons, falling for the second year in a row after two years of growth. Overall, imports, however, showed a prominent expansion. The pace of growth was the most pronounced in 2019 with an increase of X% against the previous year. Over the period under review, imports attained the maximum at X tons in 2020; however, from 2021 to 2022, imports failed to regain momentum.
In value terms, maize starch imports contracted sharply to $X in 2022. Over the period under review, imports, however, posted a buoyant expansion. The most prominent rate of growth was recorded in 2020 with an increase of X%. As a result, imports attained the peak of $X. From 2021 to 2022, the growth of imports remained at a somewhat lower figure.
Imports by Country
Nigeria was the major importer of maize (corn) starch in Western Africa, with the volume of imports amounting to X tons, which was near X% of total imports in 2022. Cote d'Ivoire (X tons) held the second position in the ranking, distantly followed by Senegal (X tons) and Ghana (X tons). All these countries together took approx. X% share of total imports.
From 2012 to 2022, average annual rates of growth with regard to maize starch imports into Nigeria stood at X%. At the same time, Cote d'Ivoire (X%), Ghana (X%) and Senegal (X%) displayed positive paces of growth. Moreover, Cote d'Ivoire emerged as the fastest-growing importer imported in Western Africa, with a CAGR of X% from 2012-2022. While the share of Cote d'Ivoire (X p.p.) and Ghana (X p.p.) increased significantly in terms of the total imports from 2012-2022, the share of Nigeria (X p.p.) displayed negative dynamics. The shares of the other countries remained relatively stable throughout the analyzed period.
In value terms, Nigeria ($X) constitutes the largest market for imported maize (corn) starch in Western Africa, comprising X% of total imports. The second position in the ranking was held by Cote d'Ivoire ($X), with a X% share of total imports. It was followed by Senegal, with a X% share.
From 2012 to 2022, the average annual growth rate of value in Nigeria amounted to X%. The remaining importing countries recorded the following average annual rates of imports growth: Cote d'Ivoire (X% per year) and Senegal (X% per year).
Import Prices by Country
In 2022, the import price in Western Africa amounted to $X per ton, jumping by X% against the previous year. Import price indicated a perceptible expansion from 2012 to 2022: its price increased at an average annual rate of X% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, maize starch import price increased by X% against 2019 indices. The growth pace was the most rapid in 2020 when the import price increased by X% against the previous year. Over the period under review, import prices attained the maximum in 2022 and is expected to retain growth in years to come.
Average prices varied noticeably amongst the major importing countries. In 2022, major importing countries recorded the following prices: in Nigeria ($X per ton) and Cote d'Ivoire ($X per ton), while Ghana ($X per ton) and Senegal ($X per ton) were amongst the lowest.
From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Cote d'Ivoire (X%), while the other leaders experienced more modest paces of growth.
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Frequently Asked Questions (FAQ) :
This report provides an in-depth analysis of the maize starch market in Western Africa. Within it, you will discover the latest data on market trends and opportunities by country, consumption, production and price developments, as well as the global trade (imports and exports). The forecast exhibits the market prospects through 2030.
Product coverage:
- Prodcom 10621113 - Maize (corn) starch
Country coverage:
- Benin
- Burkina Faso
- Cabo Verde
- Cote d'Ivoire
- Gambia
- Ghana
- Guinea
- Guinea-Bissau
- Liberia
- Mali
- Mauritania
- Niger
- Nigeria
- Saint Helena, Ascension and Tristan da Cunha
- Senegal
- Sierra Leone
- Togo
Data coverage:
- Market volume and value
- Per Capita consumption
- Forecast of the market dynamics in the medium term
- Production in Western Africa, split by region and country
- Trade (exports and imports) in Western Africa
- Export and import prices
- Market trends, drivers and restraints
- Key market players and their profiles
Reasons to buy this report:
- Take advantage of the latest data
- Find deeper insights into current market developments
- Discover vital success factors affecting the market
This report is designed for manufacturers, distributors, importers, and wholesalers, as well as for investors, consultants and advisors.
In this report, you can find information that helps you to make informed decisions on the following issues:
- How to diversify your business and benefit from new market opportunities
- How to load your idle production capacity
- How to boost your sales on overseas markets
- How to increase your profit margins
- How to make your supply chain more sustainable
- How to reduce your production and supply chain costs
- How to outsource production to other countries
- How to prepare your business for global expansion
While doing this research, we combine the accumulated expertise of our analysts and the capabilities of artificial intelligence. The AI-based platform, developed by our data scientists, constitutes the key working tool for business analysts, empowering them to discover deep insights and ideas from the marketing data.
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1. INTRODUCTION
Making Data-Driven Decisions to Grow Your Business
- REPORT DESCRIPTION
- RESEARCH METHODOLOGY AND AI PLATFORM
- DATA-DRIVEN DECISIONS FOR YOUR BUSINESS
- GLOSSARY AND SPECIFIC TERMS
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2. EXECUTIVE SUMMARY
A Quick Overview of Market Performance
- KEY FINDINGS
- MARKET TRENDS This Chapter is Available Only for the Professional Edition PRO
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3. MARKET OVERVIEW
Understanding the Current State of The Market and Its Prospects
- MARKET SIZE
- CONSUMPTION BY COUNTRY
- MARKET FORECAST TO 2030
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4. MOST PROMISING PRODUCT
Finding New Products to Diversify Your Business
This Chapter is Available Only for the Professional Edition PRO- TOP PRODUCTS TO DIVERSIFY YOUR BUSINESS
- BEST-SELLING PRODUCTS
- MOST CONSUMED PRODUCT
- MOST TRADED PRODUCT
- MOST PROFITABLE PRODUCT FOR EXPORT
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5. MOST PROMISING SUPPLYING COUNTRIES
Choosing the Best Countries to Establish Your Sustainable Supply Chain
This Chapter is Available Only for the Professional Edition PRO- TOP COUNTRIES TO SOURCE YOUR PRODUCT
- TOP PRODUCING COUNTRIES
- TOP EXPORTING COUNTRIES
- LOW-COST EXPORTING COUNTRIES
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6. MOST PROMISING OVERSEAS MARKETS
Choosing the Best Countries to Boost Your Exports
This Chapter is Available Only for the Professional Edition PRO- TOP OVERSEAS MARKETS FOR EXPORTING YOUR PRODUCT
- TOP CONSUMING MARKETS
- UNSATURATED MARKETS
- TOP IMPORTING MARKETS
- MOST PROFITABLE MARKETS
7. PRODUCTION
The Latest Trends and Insights into The Industry
- PRODUCTION VOLUME AND VALUE
- PRODUCTION BY COUNTRY
8. IMPORTS
The Largest Importers on The Market and How They Succeed
- IMPORTS FROM 2012–2023
- IMPORTS BY COUNTRY
- IMPORT PRICES BY COUNTRY
9. EXPORTS
The Largest Exporters on The Market and How They Succeed
- EXPORTS FROM 2012–2023
- EXPORTS BY COUNTRY
- EXPORT PRICES BY COUNTRY
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10. PROFILES OF MAJOR PRODUCERS
The Largest Producers on The Market and Their Profiles
This Chapter is Available Only for the Professional Edition PRO -
11. COUNTRY PROFILES
The Largest Markets And Their Profiles
This Chapter is Available Only for the Professional Edition PRO- Benin
- Burkina Faso
- Cabo Verde
- Gambia
- Ghana
- Guinea
- Guinea-Bissau
- Liberia
- Mali
- Mauritania
- Niger
- Nigeria
- Saint Helena, Ascension and Tristan da Cunha
- Senegal
- Sierra Leone
- Togo
- Cote d'Ivoire
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LIST OF TABLES
- Key Findings In 2023
- Market Volume, In Physical Terms, 2012–2023
- Market Value, 2012–2023
- Per Capita Consumption, By Country, 2018–2023
- Production, In Physical Terms, By Country, 2012–2023
- Imports, In Physical Terms, By Country, 2012–2023
- Imports, In Value Terms, By Country, 2012–2023
- Import Prices, By Country Of Destination, 2012–2023
- Exports, In Physical Terms, By Country, 2012–2023
- Exports, In Value Terms, By Country, 2012–2023
- Export Prices, By Country Of Origin, 2012–2023
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LIST OF FIGURES
- Market Volume, In Physical Terms, 2012–2023
- Market Value, 2012–2023
- Consumption, By Country, 2023
- Market Volume Forecast to 2030
- Market Value Forecast to 2030
- Products: Market Size And Growth, By Type
- Products: Average Per Capita Consumption, By Type
- Products: Exports And Growth, By Type
- Products: Export Prices And Growth, By Type
- Production Volume And Growth
- Exports And Growth
- Export Prices And Growth
- Market Size And Growth
- Per Capita Consumption
- Imports And Growth
- Import Prices
- Production, In Physical Terms, 2012–2023
- Production, In Value Terms, 2012–2023
- Production, By Country, 2023
- Production, In Physical Terms, By Country, 2012–2023
- Imports, In Physical Terms, 2012–2023
- Imports, In Value Terms, 2012–2023
- Imports, In Physical Terms, By Country, 2023
- Imports, In Physical Terms, By Country, 2012–2023
- Imports, In Value Terms, By Country, 2012–2023
- Import Prices, By Country, 2012–2023
- Exports, In Physical Terms, 2012–2023
- Exports, In Value Terms, 2012–2023
- Exports, In Physical Terms, By Country, 2023
- Exports, In Physical Terms, By Country, 2012–2023
- Exports, In Value Terms, By Country, 2012–2023
- Export Prices, 2012–2023
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