Western Africa: Glucose Market 2024

Glucose Market Size in Western Africa

The West African glucose market expanded to $X in 2022, picking up by X% against the previous year. The market value increased at an average annual rate of X% over the period from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. Over the period under review, the market hit record highs at $X in 2015; however, from 2016 to 2022, consumption stood at a somewhat lower figure.

Glucose Production in Western Africa

In value terms, glucose production declined to $X in 2022 estimated in export price. The total production indicated a noticeable increase 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, production increased by X% against 2018 indices. The growth pace was the most rapid in 2014 with an increase of X%. Over the period under review, production reached the peak level at $X in 2015; however, from 2016 to 2022, production stood at a somewhat lower figure.

Glucose Exports

Exports in Western Africa

In 2022, overseas shipments of glucose and glucose syrup increased by X% to X tons, rising for the third year in a row after two years of decline. In general, exports recorded a buoyant increase. The most prominent rate of growth was recorded in 2014 when exports increased by X% against the previous year. The volume of export peaked at X tons in 2015; however, from 2016 to 2022, the exports stood at a somewhat lower figure.

In value terms, glucose exports shrank notably to $X in 2022. Overall, exports posted a resilient expansion. The most prominent rate of growth was recorded in 2021 with an increase of X% against the previous year. As a result, the exports attained the peak of $X, and then dropped remarkably in the following year.

Exports by Country

Nigeria was the key exporter of glucose and glucose syrup in Western Africa, with the volume of exports resulting at X tons, which was approx. X% of total exports in 2022. Senegal (X tons) took the second position in the ranking, distantly followed by Cote d'Ivoire (X tons) and Ghana (X tons). All these countries together held approx. X% share of total exports.

From 2012 to 2022, average annual rates of growth with regard to glucose exports from Nigeria stood at X%. At the same time, Senegal (X%) and Cote d'Ivoire (X%) displayed positive paces of growth. Moreover, Senegal emerged as the fastest-growing exporter exported in Western Africa, with a CAGR of X% from 2012-2022. By contrast, Ghana (X%) illustrated a downward trend over the same period. While the share of Nigeria (X p.p.), Senegal (X p.p.) and Cote d'Ivoire (X p.p.) increased significantly in terms of the total exports from 2012-2022, the share of Ghana (X p.p.) displayed negative dynamics.

In value terms, Nigeria ($X) emerged as the largest glucose supplier in Western Africa, comprising X% of total exports. The second position in the ranking was held by Senegal ($X), with a X% share of total exports. It was followed by Cote d'Ivoire, with a X% share.

In Nigeria, glucose exports expanded at an average annual rate of X% over the period from 2012-2022. The remaining exporting countries recorded the following average annual rates of exports growth: Senegal (X% per year) and Cote d'Ivoire (X% per year).

Export Prices by Country

The export price in Western Africa stood at $X per ton in 2022, dropping by X% against the previous year. Over the period under review, the export price saw a noticeable decrease. The most prominent rate of growth was recorded in 2021 when the export price increased by X%. As a result, the export price reached the peak level of $X per ton, and then reduced rapidly in the following year.

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 Ghana ($X per ton), while Senegal ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Cote d'Ivoire (X%), while the other leaders experienced mixed trends in the export price figures.

Glucose Imports

Imports in Western Africa

In 2022, overseas purchases of glucose and glucose syrup decreased by X% to X tons, falling for the second consecutive year after two years of growth. Total imports indicated a moderate increase from 2012 to 2022: its volume 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, imports decreased by X% against 2020 indices. The most prominent rate of growth was recorded in 2020 with an increase of X%. As a result, imports reached the peak of X tons. From 2021 to 2022, the growth of imports remained at a lower figure.

In value terms, glucose imports totaled $X in 2022. Total imports indicated measured growth 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, imports decreased by X% against 2020 indices. The pace of growth was the most pronounced in 2020 with an increase of X% against the previous year. As a result, imports attained the peak of $X. From 2021 to 2022, the growth of imports remained at a lower figure.

Imports by Country

Nigeria represented the largest importer of glucose and glucose syrup in Western Africa, with the volume of imports resulting at X tons, which was near X% of total imports in 2022. It was distantly followed by Ghana (X tons), Togo (X tons), Cote d'Ivoire (X tons) and Senegal (X tons), together creating a X% share of total imports. The following importers - Guinea (X tons) and Burkina Faso (X tons) - each finished at a X% share of total imports.

Nigeria experienced a relatively flat trend pattern with regard to volume of imports of glucose and glucose syrup. At the same time, Ghana (X%), Togo (X%), Cote d'Ivoire (X%), Burkina Faso (X%), Guinea (X%) and Senegal (X%) displayed positive paces of growth. Moreover, Ghana emerged as the fastest-growing importer imported in Western Africa, with a CAGR of X% from 2012-2022. From 2012 to 2022, the share of Ghana, Togo, Cote d'Ivoire and Senegal increased by X, X, X and X percentage points, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Nigeria ($X) constitutes the largest market for imported glucose and glucose syrup in Western Africa, comprising X% of total imports. The second position in the ranking was held by Togo ($X), with an X% share of total imports. It was followed by Ghana, with an X% share.

From 2012 to 2022, the average annual rate of growth in terms of value in Nigeria totaled X%. The remaining importing countries recorded the following average annual rates of imports growth: Togo (X% per year) and Ghana (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. In general, the import price showed a relatively flat trend pattern. The most prominent rate of growth was recorded in 2018 when the import price increased by X%. Over the period under review, import prices reached the maximum in 2022 and is likely to continue growth in the immediate term.

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

Source: IndexBox Platform

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