Africa - 🌽Maize (Corn) Starch - Market Analysis, Forecast, Size, Trends And Insights🌾🌿

Market Forecast 
Driven by increasing demand for maize (corn) starch in Africa, the market is expected to continue an upward consumption trend over the next decade. Market performance is forecast to decelerate, expanding with an anticipated CAGR of +1.4% for the period from 2024 to 2035, which is projected to bring the market volume to 4.2M tons by the end of 2035. In value terms, the market is forecast to increase with an anticipated CAGR of +1.7% for the period from 2024 to 2035, which is projected to bring the market value to $3B (in nominal wholesale prices) by the end of 2035.

Consumption Africa's 

Consumption of Maize (Corn) Starch In 2024, consumption of maize (corn) starch decreased by -0.7% to 3.6M tons for the first time since 2012, thus ending a eleven-year rising trend. The total consumption volume increased at an average annual rate of +3.5% over the period from 2013 to 2024; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The most prominent rate of growth was recorded in 2017 with an increase of 7.2%. Over the period under review, consumption reached the peak volume at 3.6M tons in 2023, and then declined modestly in the following year. 

Consumption By Country 
The countries with the highest volumes of consumption in 2024 were Nigeria (513K tons), Ethiopia (335K tons) and Democratic Republic of the Congo (261K tons), together comprising 31% of total consumption. Egypt, South Africa, Algeria, Tanzania, Uganda, Kenya and Sudan lagged somewhat behind, together comprising a further 29%. From 2013 to 2024, the most notable rate of growth in terms of consumption, amongst the main consuming countries, was attained by Uganda (with a CAGR of +4.3%), while consumption for the other leaders experienced more modest paces of growth.

Production Africa's 
Production of Maize (Corn) Starch In 2024, production of maize (corn) starch decreased by -0.1% to 3.6M tons, falling for the second year in a row after ten years of growth. The total output volume increased at an average annual rate of +3.7% from 2013 to 2024; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The growth pace was the most rapid in 2017 with an increase of 7%. The volume of production peaked at 3.6M tons in 2022; afterwards, it flattened through to 2024. 

Imports 
Africa's Imports of Maize (Corn) Starch In 2024, 
supplies from abroad of maize (corn) starch was finally on the rise to reach 179K tons for the first time since 2020, thus ending a three-year declining trend. Total imports indicated a noticeable increase from 2013 to 2024: its volume increased at an average annual rate of +4.1% over the last eleven-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. The most prominent rate of growth was recorded in 2019 when imports increased by 39%. The volume of import peaked at 247K tons in 2020; however, from 2021 to 2024, imports remained at a lower figure. 

Exports 

Africa's Exports of Maize (Corn) Starch 

Maize starch exports surged to 129K tons in 2024, with an increase of 43% against 2023 figures. Over the period under review, exports continue to indicate a resilient expansion. The most prominent rate of growth was recorded in 2014 with an increase of 117% against the previous year. Over the period under review, the exports attained the peak figure in 2024 and are likely to continue growth in the near future. 

Export Prices By Country 
The export price in Africa stood at $597 per ton in 2024, waning by -22.9% against the previous year. In general, the export price recorded a relatively flat trend pattern. The most prominent rate of growth was recorded in 2022 when the export price increased by 39%. The level of export peaked at $774 per ton in 2023, and then contracted sharply in the following year.