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

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

The ECOWAS market for protein concentrates and flavoured or coloured sugar syrups was estimated at $X in 2022, leveling off at the previous year. Overall, consumption continues to indicate a noticeable slump. Over the period under review, the market reached the maximum level at $X in 2012; however, from 2013 to 2022, consumption remained at a lower figure.

Production of Protein Concentrates and Flavoured or Coloured Sugar Syrups in ECOWAS

In value terms, production of protein concentrates and flavoured or coloured sugar syrups dropped slightly to $X in 2022 estimated in export price. Overall, production showed a perceptible decrease. The most prominent rate of growth was recorded in 2017 when the production volume increased by X% against the previous year. Over the period under review, production of hit record highs at $X in 2012; however, from 2013 to 2022, production failed to regain momentum.

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Exports of Protein Concentrates and Flavoured or Coloured Sugar Syrups

Exports in ECOWAS

After two years of growth, overseas shipments of protein concentrates and flavoured or coloured sugar syrups decreased by X% to X tons in 2022. In general, exports continue to indicate a abrupt decline. The growth pace was the most rapid in 2018 with an increase of X% against the previous year. Over the period under review, the exports of attained the maximum at X tons in 2021, and then contracted sharply in the following year.

In value terms, exports of protein concentrates and flavoured or coloured sugar syrups shrank rapidly to $X in 2022. Overall, exports saw a abrupt contraction. The growth pace was the most rapid in 2018 when exports increased by X% against the previous year. Over the period under review, the exports of attained the peak figure at $X in 2020; however, from 2021 to 2022, the exports failed to regain momentum.

Exports by Country

In 2022, Nigeria (X tons) represented the main exporter of protein concentrates and flavoured or coloured sugar syrups, generating X% of total exports. Niger (X tons) held a X% share (based on physical terms) of total exports, which put it in second place, followed by Gambia (X%). Guinea (X tons) and Sierra Leone (X tons) followed a long way behind the leaders.

Nigeria was also the fastest-growing in terms of the protein concentrates and flavoured or coloured sugar syrups exports, with a CAGR of X% from 2012 to 2022. At the same time, Gambia (X%) and Guinea (X%) displayed positive paces of growth. By contrast, Sierra Leone (X%) and Niger (X%) illustrated a downward trend over the same period. Nigeria (X p.p.), Niger (X p.p.), Gambia (X p.p.), Guinea (X p.p.) and Sierra Leone (X p.p.) significantly strengthened its position in terms of the total exports, while the shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Nigeria ($X), Niger ($X) and Sierra Leone ($X) constituted the countries with the highest levels of exports in 2022, with a combined X% share of total exports.

In terms of the main exporting countries, Nigeria, with a CAGR of X%, saw the highest rates of growth with regard to the value of exports, over the period under review, while shipments for the other leaders experienced a decline in the exports figures.

Export Prices by Country

In 2022, the export price in ECOWAS amounted to $X per ton, jumping by X% against the previous year. In general, the export price, however, showed a relatively flat trend pattern. The most prominent rate of growth was recorded in 2015 an increase of X% against the previous year. The level of export peaked at $X per ton in 2016; however, from 2017 to 2022, the export prices remained at a lower figure.

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 Sierra Leone ($X per ton), while Nigeria ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Niger (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 ECOWAS

In 2022, approx. X tons of protein concentrates and flavoured or coloured sugar syrups were imported in ECOWAS; reducing by X% compared with the previous year. Overall, imports continue to indicate a abrupt shrinkage. The pace of growth appeared the most rapid in 2020 with an increase of X% against the previous year. Over the period under review, imports of hit record highs at X tons in 2017; however, from 2018 to 2022, imports stood at a somewhat lower figure.

In value terms, imports of protein concentrates and flavoured or coloured sugar syrups amounted to $X in 2022. In general, imports, however, showed a relatively flat trend pattern. The pace of growth appeared the most rapid in 2020 when imports increased by X% against the previous year. Over the period under review, imports of hit record highs at $X in 2017; however, from 2018 to 2022, imports failed to regain momentum.

Imports by Country

In 2022, Niger (X tons) represented the main importer of protein concentrates and flavoured or coloured sugar syrups, creating X% of total imports. Nigeria (X tons) ranks second in terms of the total imports with a X% share, followed by Senegal (X%) and Burkina Faso (X%). Ghana (X tons), Mali (X tons) and Gambia (X tons) held a relatively small share of total imports.

Imports into Niger decreased at an average annual rate of X% from 2012 to 2022. At the same time, Senegal (X%), Mali (X%), Nigeria (X%), Ghana (X%), Burkina Faso (X%) and Gambia (X%) displayed positive paces of growth. Moreover, Senegal emerged as the fastest-growing importer imported in ECOWAS, with a CAGR of X% from 2012-2022. While the share of Nigeria (X p.p.), Senegal (X p.p.), Burkina Faso (X p.p.), Ghana (X p.p.) and Mali (X p.p.) increased significantly in terms of the total imports from 2012-2022, the share of Niger (X p.p.) displayed negative dynamics. The shares of the other countries remained relatively stable throughout the analyzed period.

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

From 2012 to 2022, the average annual growth rate of value in Niger stood at X%. 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 ECOWAS stood at $X per ton in 2022, increasing by X% against the previous year. In general, the import price saw a prominent expansion. The pace of growth appeared the most rapid in 2016 when the import price increased by X% against the previous year. Over the period under review, import prices attained the peak figure in 2022 and is expected to retain growth in years to come.

There were significant differences in the average prices amongst the major importing countries. In 2022, amid the top importers, the country with the highest price was Mali ($X per ton), while Niger ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Burkina Faso (X%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform

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