ECOWAS: Tapioca And Substitutes Market 2024

Tapioca And Substitutes Market Size in ECOWAS

In 2022, the ECOWAS tapioca and substitutes market increased by X% to $X, rising for the second consecutive year after two years of decline. In general, consumption continues to indicate buoyant growth. As a result, consumption reached the peak level and is likely to continue growth in the immediate term.

Tapioca And Substitutes Production in ECOWAS

In value terms, tapioca and substitutes production rose modestly to $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 throughout the analyzed period. The most prominent rate of growth was recorded in 2013 when the production volume increased by X%. The level of production peaked at $X in 2020; however, from 2021 to 2022, production remained at a lower figure.

Tapioca And Substitutes Exports

Exports in ECOWAS

In 2022, overseas shipments of tapioca and substitutes decreased by X% to X tons, falling for the second year in a row after six years of growth. Overall, exports, however, saw a strong increase. The most prominent rate of growth was recorded in 2015 with an increase of X%. Over the period under review, the exports attained the peak figure at X tons in 2020; however, from 2021 to 2022, the exports failed to regain momentum.

In value terms, tapioca and substitutes exports reduced dramatically to $X in 2022. Over the period under review, exports, however, enjoyed a strong expansion. The most prominent rate of growth was recorded in 2013 when exports increased by X%. The level of export peaked at $X in 2021, and then dropped markedly in the following year.

Exports by Country

Cote d'Ivoire dominates exports structure, reaching X tons, which was approx. X% of total exports in 2022. Ghana (X tons) held a minor share of total exports.

From 2012 to 2022, average annual rates of growth with regard to tapioca and substitutes exports from Cote d'Ivoire stood at X%. At the same time, Ghana (X%) displayed positive paces of growth. Moreover, Ghana emerged as the fastest-growing exporter exported in ECOWAS, with a CAGR of X% from 2012-2022. Ghana (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, Cote d'Ivoire ($X) remains the largest tapioca and substitutes supplier in ECOWAS, comprising X% of total exports. The second position in the ranking was taken by Ghana ($X), with a X% share of total exports.

In Cote d'Ivoire, tapioca and substitutes exports expanded at an average annual rate of X% over the period from 2012-2022.

Export Prices by Country

In 2022, the export price in ECOWAS amounted to $X per ton, reducing by X% against the previous year. Overall, the export price, however, continues to indicate a relatively flat trend pattern. The pace of growth was the most pronounced in 2016 when the export price increased by X%. The level of export peaked at $X per ton in 2018; however, from 2019 to 2022, the export prices remained at a lower figure.

Prices varied noticeably by country of origin: amid the top suppliers, the country with the highest price was Ghana ($X per ton), while Cote d'Ivoire amounted to $X per ton.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Cote d'Ivoire (X%).

Tapioca And Substitutes Imports

Imports in ECOWAS

In 2022, approx. X tons of tapioca and substitutes were imported in ECOWAS; surging by X% against 2021. In general, imports enjoyed a significant expansion. The pace of growth appeared the most rapid in 2021 when imports increased by X%. Over the period under review, imports hit record highs in 2022 and are expected to retain growth in years to come.

In value terms, tapioca and substitutes imports skyrocketed to $X in 2022. Overall, imports posted a significant increase. As a result, imports reached the peak and are likely to continue growth in the immediate term.

Imports by Country

Nigeria dominates imports structure, accounting for X tons, which was near X% of total imports in 2022. Ghana (X tons), Senegal (X tons), Togo (X tons), Sierra Leone (X tons) and Guinea (X tons) followed a long way behind the leaders.

Nigeria was also the fastest-growing in terms of the tapioca and substitutes imports, with a CAGR of X% from 2012 to 2022. At the same time, Ghana (X%), Togo (X%), Sierra Leone (X%) and Guinea (X%) displayed positive paces of growth. By contrast, Senegal (X%) illustrated a downward trend over the same period. While the share of Nigeria (X p.p.) increased significantly in terms of the total imports from 2012-2022, the share of Ghana (X p.p.), Togo (X p.p.), Sierra Leone (X p.p.), Guinea (X p.p.) and Senegal (X p.p.) displayed negative dynamics.

In value terms, Nigeria ($X) constitutes the largest market for imported tapioca and substitutes in ECOWAS, comprising X% of total imports. The second position in the ranking was taken by Ghana ($X), with a X% share of total imports. It was followed by Togo, with a X% share.

From 2012 to 2022, the average annual rate of growth in terms of value in Nigeria stood at X%. In the other countries, the average annual rates were as follows: Ghana (X% per year) and Togo (X% per year).

Import Prices by Country

In 2022, the import price in ECOWAS amounted to $X per ton, surging by X% against the previous year. Import price indicated buoyant growth 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, tapioca and substitutes import price increased by X% against 2020 indices. The pace of growth was the most pronounced in 2016 an increase of X%. Over the period under review, import prices hit record highs in 2022 and is expected to retain growth in the immediate term.

Prices varied noticeably by country of destination: amid the top importers, the country with the highest price was Nigeria ($X per ton), while Senegal ($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.

Source: IndexBox Platform

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