Western Africa: Market for Protein Concentrates and Flavoured or Coloured Sugar Syrups 2024

Market Size for Protein Concentrates and Flavoured or Coloured Sugar Syrups in Western Africa

In 2023, the West African market for protein concentrates and flavoured or coloured sugar syrups decreased by X% to $X, falling for the seventh consecutive year after five years of growth. The market value increased at an average annual rate of X% over the period from 2012 to 2023; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. Over the period under review, the market hit record highs at $X in 2016; however, from 2017 to 2023, consumption failed to regain momentum.

Production of Protein Concentrates and Flavoured or Coloured Sugar Syrups in Western Africa

In value terms, production of protein concentrates and flavoured or coloured sugar syrups reduced to $X in 2023 estimated in export price. The total output value increased at an average annual rate of X% from 2012 to 2023; however, the trend pattern remained relatively stable, with somewhat noticeable fluctuations being recorded in certain years. The most prominent rate of growth was recorded in 2015 when the production volume increased by X% against the previous year. The level of production peaked at $X in 2017; however, from 2018 to 2023, production remained at a lower figure.

Exports of Protein Concentrates and Flavoured or Coloured Sugar Syrups

Exports in Western Africa

In 2023, overseas shipments of protein concentrates and flavoured or coloured sugar syrups decreased by X% to X tons, falling for the third year in a row after four years of growth. Over the period under review, exports showed a abrupt curtailment. The most prominent rate of growth was recorded in 2018 with an increase of X% against the previous year. Over the period under review, the exports of reached the peak figure at X tons in 2020; however, from 2021 to 2023, the exports failed to regain momentum.

In value terms, exports of protein concentrates and flavoured or coloured sugar syrups declined remarkably to $X in 2023. In general, exports saw a pronounced decline. The pace of growth appeared the most rapid in 2018 when exports increased by X%. The level of export peaked at $X in 2020; however, from 2021 to 2023, the exports stood at a somewhat lower figure.

Exports by Country

The biggest shipments were from Benin (X tons), Gambia (X tons) and Nigeria (X tons), together recording X% of total export. Mauritania (X tons) took a X% share (based on physical terms) of total exports, which put it in second place, followed by Guinea (X%). Sierra Leone (X kg) and Ghana (X kg) held a little share of total exports.

From 2012 to 2023, the biggest increases were recorded for Benin (with a CAGR of X%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, Mauritania ($X), Nigeria ($X) and Sierra Leone ($X) appeared to be the countries with the highest levels of exports in 2023, with a combined X% share of total exports. Gambia, Benin, Guinea and Ghana lagged somewhat behind, together comprising a further X%.

In terms of the main exporting countries, Benin, with a CAGR of X%, recorded the highest rates of growth with regard to the value of exports, over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

In 2023, the export price in Western Africa amounted to $X per ton, surging by X% against the previous year. In general, the export price posted moderate growth. Over the period under review, the export prices hit record highs at $X per ton in 2020; however, from 2021 to 2023, the export prices failed to regain momentum.

Prices varied noticeably by country of origin: amid the top suppliers, the country with the highest price was Sierra Leone ($X per ton), while Ghana ($X per ton) was amongst the lowest.

From 2012 to 2023, the most notable rate of growth in terms of prices was attained by Nigeria (X%), while the other leaders experienced a decline in the export price figures.

Imports of Protein Concentrates and Flavoured or Coloured Sugar Syrups

Imports in Western Africa

In 2023, purchases abroad of protein concentrates and flavoured or coloured sugar syrups was finally on the rise to reach X tons for the first time since 2020, thus ending a two-year declining trend. Overall, imports, however, showed a pronounced contraction. The pace of growth was the most pronounced in 2020 when imports increased by X%. The volume of import peaked at X tons in 2017; however, from 2018 to 2023, imports stood at a somewhat lower figure.

In value terms, imports of protein concentrates and flavoured or coloured sugar syrups expanded notably to $X in 2023. Over the period under review, imports saw a mild expansion. The most prominent rate of growth was recorded in 2020 with an increase of X%. The level of import peaked at $X in 2017; however, from 2018 to 2023, imports remained at a lower figure.

Imports by Country

Niger represented the major importer of protein concentrates and flavoured or coloured sugar syrups in Western Africa, with the volume of imports amounting to X tons, which was approx. X% of total imports in 2023. Burkina Faso (X tons) held a X% share (based on physical terms) of total imports, which put it in second place, followed by Nigeria (X%) and Senegal (X%). Mali (X tons), Ghana (X tons) and Cote d'Ivoire (X tons) followed a long way behind the leaders.

From 2012 to 2023, average annual rates of growth with regard to protein concentrate and flavoured or coloured sugar syrup imports into Niger stood at X%. At the same time, Mali (X%), Senegal (X%), Burkina Faso (X%), Cote d'Ivoire (X%), Nigeria (X%) and Ghana (X%) displayed positive paces of growth. Moreover, Mali emerged as the fastest-growing importer imported in Western Africa, with a CAGR of X% from 2012-2023. From 2012 to 2023, the share of Burkina Faso, Nigeria, Senegal, Mali and Ghana increased by X, X, X, X and X percentage points, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Niger ($X) constitutes the largest market for imported protein concentrates and flavoured or coloured sugar syrups in Western Africa, comprising X% of total imports. The second position in the ranking was held by Senegal ($X), with a X% share of total imports. It was followed by Nigeria, with a X% share.

In Niger, imports of protein concentrates and flavoured or coloured sugar syrups plunged by an average annual rate of X% over the period from 2012-2023. The remaining importing countries recorded the following average annual rates of imports growth: Senegal (X% per year) and Nigeria (X% per year).

Import Prices by Country

The import price in Western Africa stood at $X per ton in 2023, with a decrease of X% against the previous year. In general, the import price, however, showed a strong expansion. The most prominent rate of growth was recorded in 2016 when the import price increased by X% against the previous year. The level of import peaked at $X per ton in 2022, and then declined in the following year.

There were significant differences in the average prices amongst the major importing countries. In 2023, amid the top importers, the country with the highest price was Senegal ($X per ton), while Burkina Faso ($X per ton) was amongst the lowest.

From 2012 to 2023, the most notable rate of growth in terms of prices was attained by Senegal (X%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform