Western Africa: Market for Glycosides And Vegetable Alkaloids 2024

Market Size for Glycosides And Vegetable Alkaloids in Western Africa

The West African glycosides and vegetable alkaloids market expanded rapidly to $X in 2023, with an increase of X% against the previous year. Overall, consumption showed a buoyant expansion. Over the period under review, the market reached the peak level at $X in 2021; however, from 2022 to 2023, consumption stood at a somewhat lower figure.

Production of Glycosides And Vegetable Alkaloids in Western Africa

In value terms, glycosides and vegetable alkaloids production expanded significantly to $X in 2023 estimated in export price. Over the period under review, production saw a prominent expansion. The most prominent rate of growth was recorded in 2020 when the production volume increased by X% against the previous year. Over the period under review, production reached the peak level at $X in 2021; however, from 2022 to 2023, production remained at a lower figure.

Exports of Glycosides And Vegetable Alkaloids

Exports in Western Africa

In 2023, the amount of glycosides and vegetable alkaloids exported in Western Africa skyrocketed to X kg, with an increase of X% on 2022 figures. Overall, exports, however, recorded a drastic downturn. The most prominent rate of growth was recorded in 2016 with an increase of X% against the previous year. As a result, the exports attained the peak of X tons. From 2017 to 2023, the growth of the exports remained at a lower figure.

In value terms, glycosides and vegetable alkaloids exports soared to $X in 2023. In general, exports, however, continue to indicate a drastic downturn. The growth pace was the most rapid in 2014 when exports increased by X% against the previous year. The level of export peaked at $X in 2012; however, from 2013 to 2023, the exports failed to regain momentum.

Exports by Country

Cote d'Ivoire represented the main exporter of glycosides and vegetable alkaloids in Western Africa, with the volume of exports accounting for X kg, which was near X% of total exports in 2023. Senegal (X kg) ranks second in terms of the total exports with a X% share, followed by Nigeria (X%). The following exporters - Sierra Leone (X kg) and Ghana (X kg) - each reached a X% share of total exports.

Cote d'Ivoire was also the fastest-growing in terms of the glycosides and vegetable alkaloids exports, with a CAGR of X% from 2012 to 2023. Ghana experienced a relatively flat trend pattern. Sierra Leone (X%), Senegal (X%) and Nigeria (X%) illustrated a downward trend over the same period. Cote d'Ivoire (X p.p.) and Nigeria (X p.p.) significantly strengthened its position in terms of the total exports, while Senegal saw its share reduced by X% from 2012 to 2023, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Cote d'Ivoire ($X), Senegal ($X) and Nigeria ($X) constituted the countries with the highest levels of exports in 2023, together accounting for X% of total exports.

In terms of the main exporting countries, Cote d'Ivoire, 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 mixed trends in the exports figures.

Export Prices by Country

The export price in Western Africa stood at $X per ton in 2023, growing by X% against the previous year. Overall, the export price, however, saw a relatively flat trend pattern. The pace of growth appeared the most rapid in 2017 an increase of X% against the previous year. The level of export peaked at $X per ton in 2019; however, from 2020 to 2023, the export prices stood at a somewhat lower figure.

There were significant differences in the average prices amongst the major exporting countries. In 2023, 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 2023, the most notable rate of growth in terms of prices was attained by Ghana (X%), while the other leaders experienced more modest paces of growth.

Imports of Glycosides And Vegetable Alkaloids

Imports in Western Africa

In 2023, glycosides and vegetable alkaloids imports in Western Africa rose to X tons, with an increase of X% compared with 2022. In general, imports continue to indicate temperate growth. The growth pace was the most rapid in 2020 when imports increased by X%. As a result, imports reached the peak of X tons. From 2021 to 2023, the growth of imports remained at a lower figure.

In value terms, glycosides and vegetable alkaloids imports fell modestly to $X in 2023. Overall, imports enjoyed a pronounced 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 2023, the growth of imports remained at a lower figure.

Imports by Country

Nigeria represented the largest importing country with an import of about X tons, which amounted to X% of total imports. It was distantly followed by Ghana (X tons), constituting a X% share of total imports.

Nigeria was also the fastest-growing in terms of the glycosides and vegetable alkaloids imports, with a CAGR of X% from 2012 to 2023. Ghana (X%) illustrated a downward trend over the same period. Nigeria (X p.p.) significantly strengthened its position in terms of the total imports, while Ghana saw its share reduced by X% from 2012 to 2023, respectively.

In value terms, Nigeria ($X) constitutes the largest market for imported glycosides and vegetable alkaloids in Western Africa, comprising X% of total imports. The second position in the ranking was taken by Ghana ($X), with an X% share of total imports.

From 2012 to 2023, the average annual rate of growth in terms of value in Nigeria totaled X%.

Import Prices by Country

In 2023, the import price in Western Africa amounted to $X per ton, falling by X% against the previous year. Over the period under review, the import price saw a mild contraction. The pace of growth appeared the most rapid in 2021 when the import price increased by X% against the previous year. The level of import peaked at $X per ton in 2013; however, from 2014 to 2023, import prices remained at a lower figure.

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 Ghana ($X per ton), while Nigeria amounted to $X per ton.

From 2012 to 2023, the most notable rate of growth in terms of prices was attained by Ghana (X%).

Source: IndexBox Platform