Nigeria - Dairy Produce - Market Analysis, Forecast, Size, Trends and Insights
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View PricingDairy Produce Price in Nigeria - 2022
Contents:
- Dairy Produce Price in Nigeria (CIF) - 2022
- Dairy Produce Price in Nigeria (FOB) - 2022
- Dairy Produce Imports in Nigeria
- Dairy Produce Exports in Nigeria
Dairy Produce Price in Nigeria (CIF) - 2022
The average dairy produce import price stood at $4,042 per ton in 2022, with an increase of 23% against the previous year. In general, import price indicated temperate growth from 2012 to 2022: its price increased at an average annual rate of +2.6% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, dairy produce import price increased by +85.5% against 2019 indices. The growth pace was the most rapid in 2020 an increase of 34%. Over the period under review, average import prices hit record highs in 2022 and is expected to retain growth in the near future.
There were significant differences in the average prices amongst the major supplying countries. In 2022, amid the top importers, the country with the highest price was New Zealand ($4,432 per ton), while the price for China ($1,455 per ton) was amongst the lowest.
From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Australia (+5.3%), while the prices for the other major suppliers experienced more modest paces of growth.
Dairy Produce Price in Nigeria (FOB) - 2022
The average dairy produce export price stood at $2,394 per ton in 2022, jumping by 74% against the previous year. In general, the export price, however, continues to indicate a slight descent. The export price peaked at $3,305 per ton in 2013; however, from 2014 to 2022, the export prices stood at a somewhat lower figure.
Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was the United Arab Emirates ($3,211 per ton), while the average price for exports to Togo ($887 per ton) was amongst the lowest.
From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Ghana (+4.9%), while the prices for the other major destinations experienced mixed trend patterns.
Dairy Produce Imports in Nigeria
In 2022, overseas purchases of dairy produce decreased by -36.4% to 95K tons, falling for the second consecutive year after two years of growth. In general, imports continue to indicate a abrupt contraction. The pace of growth appeared the most rapid in 2020 with an increase of 72% against the previous year. As a result, imports attained the peak of 296K tons. From 2021 to 2022, the growth of imports remained at a lower figure.
In value terms, dairy produce imports contracted remarkably to $384M in 2022. Overall, imports, however, continue to indicate a relatively flat trend pattern. The pace of growth appeared the most rapid in 2020 with an increase of 131% against the previous year. As a result, imports attained the peak of $867M. From 2021 to 2022, the growth of imports remained at a lower figure.
Import of Dairy Produce in Nigeria (Million USD) | |||||
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COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
New Zealand | 83.6 | 343 | 237 | 246 | 43.3% |
Australia | 0.7 | 0.1 | 10.0 | 20.5 | 208.2% |
Germany | 60.5 | 166 | 51.2 | 20.5 | -30.3% |
Netherlands | 63.1 | 55.3 | 51.9 | 19.2 | -32.7% |
Belgium | 28.2 | 34.4 | 8.2 | 16.4 | -16.5% |
France | 8.4 | 18.6 | 31.2 | 16.1 | 24.2% |
Ireland | 49.6 | 76.0 | 40.1 | 12.4 | -37.0% |
Denmark | 18.0 | 45.9 | 25.8 | 4.7 | -36.1% |
Poland | 12.1 | 25.8 | 6.9 | 3.3 | -35.2% |
Barbados | 13.3 | 9.3 | 3.8 | N/A | -46.5% |
Sweden | 19.6 | 62.6 | 6.2 | N/A | -43.8% |
Others | 17.8 | 30.0 | 19.8 | 24.4 | 11.1% |
Total | 375 | 867 | 492 | 384 | 0.8% |
Top Suppliers of Dairy Produce to Nigeria in 2022:
- New Zealand (55.6K tons)
- Germany (6.3K tons)
- Netherlands (5.3K tons)
- Australia (5.1K tons)
- France (4.8K tons)
- Belgium (4.3K tons)
- Ireland (3.2K tons)
- Denmark (1.4K tons)
- Poland (0.8K tons)
Dairy Produce Exports in Nigeria
After two years of decline, shipments abroad of dairy produce increased by 20% to 2.3K tons in 2022. Overall, exports, however, showed a drastic downturn.
In value terms, dairy produce exports soared to $5.4M in 2022. Over the period under review, exports showed a buoyant increase. As a result, the exports attained the peak and are likely to continue growth in the immediate term.
Export of Dairy Produce in Nigeria (Million USD) | |||||
---|---|---|---|---|---|
COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
Ghana | 3.8 | 2.3 | 2.3 | 4.6 | 6.6% |
Togo | 0.7 | 0.2 | 0.2 | 0.7 | 0.0% |
United Arab Emirates | N/A | N/A | N/A | 0.1 | 0% |
Others | 0.2 | 0.1 | 0.1 | N/A | -29.3% |
Total | 4.7 | 2.6 | 2.6 | 5.4 | 4.7% |
Top Export Markets for Dairy Produce from Nigeria in 2022:
- Ghana (1447.0 tons)
- Togo (751.1 tons)
- United Arab Emirates (38.3 tons)
This report provides an in-depth analysis of the dairy produce market in Nigeria. Within it, you will discover the latest data on market trends and opportunities by country, consumption, production and price developments, as well as the global trade (imports and exports). The forecast exhibits the market prospects through 2030.
Product coverage:
- FCL 888 - Skim Milk of Cows
- FCL 1130 - Camel milk
- FCL 882 - Cow milk, whole (fresh)
- FCL 1020 - Goat milk
- FCL 982 - Sheep milk
- FCL 951 - Buffalo milk
- FCL 897 - Dry Whole Cow Milk
- FCL 898 - Dry Skim Cow Milk
- FCL 889 - Whole Milk, Condensed
- FCL 894 - Whole Milk, Evaporated
- FCL 895 - Skim Milk, Evaporated
- FCL 896 - Skim Milk, Condensed
- FCL 891 - Yoghurt
- FCL 983 - Butter and Ghee of Sheep Milk
- FCL 1022 - Butter of Goat Milk
- FCL 952 - Butter of Buffalo Milk
- FCL 886 - Butter of Cow Milk
- FCL 887 - Ghee from Cow Milk
- FCL 953 - Ghee, from Buffalo Milk
- FCL 901 - Cheese from Whole Cow Milk
- FCL 904 - Cheese from Skimmed Cow Milk
- FCL 905 - Whey Cheese
- FCL 907 - Processed Cheese
- FCL 955 - Cheese of Buffalo Milk
- FCL 984 - Cheese of Sheep Milk
- FCL 1021 - Cheese of Goat Milk
- FCL 885 - Cream, Fresh
- FCL 893 - Buttermilk, Curdled Milk, Acidified Milk
- FCL 899 - Dry Buttermilk
- FCL 892 - Yoghurt, Concentrated or Unconcent
Country coverage:
- Nigeria
Data coverage:
- Market volume and value
- Per Capita consumption
- Forecast of the market dynamics in the medium term
- Trade (exports and imports) in Nigeria
- Export and import prices
- Market trends, drivers and restraints
- Key market players and their profiles
Reasons to buy this report:
- Take advantage of the latest data
- Find deeper insights into current market developments
- Discover vital success factors affecting the market
This report is designed for manufacturers, distributors, importers, and wholesalers, as well as for investors, consultants and advisors.
In this report, you can find information that helps you to make informed decisions on the following issues:
- How to diversify your business and benefit from new market opportunities
- How to load your idle production capacity
- How to boost your sales on overseas markets
- How to increase your profit margins
- How to make your supply chain more sustainable
- How to reduce your production and supply chain costs
- How to outsource production to other countries
- How to prepare your business for global expansion
While doing this research, we combine the accumulated expertise of our analysts and the capabilities of artificial intelligence. The AI-based platform, developed by our data scientists, constitutes the key working tool for business analysts, empowering them to discover deep insights and ideas from the marketing data.
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1. INTRODUCTION
Making Data-Driven Decisions to Grow Your Business
- REPORT DESCRIPTION
- RESEARCH METHODOLOGY AND AI PLATFORM
- DATA-DRIVEN DECISIONS FOR YOUR BUSINESS
- GLOSSARY AND SPECIFIC TERMS
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2. EXECUTIVE SUMMARY
A Quick Overview of Market Performance
- KEY FINDINGS
- MARKET TRENDS This Chapter is Available Only for the Professional Edition PRO
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3. MARKET OVERVIEW
Understanding the Current State of The Market and Its Prospects
- MARKET SIZE
- MARKET STRUCTURE
- TRADE BALANCE
- PER CAPITA CONSUMPTION
- MARKET FORECAST TO 2030
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4. MOST PROMISING PRODUCT
Finding New Products to Diversify Your Business
This Chapter is Available Only for the Professional Edition PRO- TOP PRODUCTS TO DIVERSIFY YOUR BUSINESS
- BEST-SELLING PRODUCTS
- MOST CONSUMED PRODUCT
- MOST TRADED PRODUCT
- MOST PROFITABLE PRODUCT FOR EXPORT
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5. MOST PROMISING SUPPLYING COUNTRIES
Choosing the Best Countries to Establish Your Sustainable Supply Chain
This Chapter is Available Only for the Professional Edition PRO- TOP COUNTRIES TO SOURCE YOUR PRODUCT
- TOP PRODUCING COUNTRIES
- TOP EXPORTING COUNTRIES
- LOW-COST EXPORTING COUNTRIES
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6. MOST PROMISING OVERSEAS MARKETS
Choosing the Best Countries to Boost Your Exports
This Chapter is Available Only for the Professional Edition PRO- TOP OVERSEAS MARKETS FOR EXPORTING YOUR PRODUCT
- TOP CONSUMING MARKETS
- UNSATURATED MARKETS
- TOP IMPORTING MARKETS
- MOST PROFITABLE MARKETS
7. PRODUCTION
The Latest Trends and Insights into The Industry
- PRODUCTION VOLUME AND VALUE
8. IMPORTS
The Largest Import Supplying Countries
- IMPORTS FROM 2012–2023
- IMPORTS BY COUNTRY
- IMPORT PRICES BY COUNTRY
9. EXPORTS
The Largest Destinations for Exports
- EXPORTS FROM 2012–2023
- EXPORTS BY COUNTRY
- EXPORT PRICES BY COUNTRY
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10. PROFILES OF MAJOR PRODUCERS
The Largest Producers on The Market and Their Profiles
This Chapter is Available Only for the Professional Edition PRO -
LIST OF TABLES
- Key Findings In 2023
- Market Volume, In Physical Terms, 2012–2023
- Market Value, 2012–2023
- Per Capita Consumption In 2012-2023
- Imports, In Physical Terms, By Country, 2012–2023
- Imports, In Value Terms, By Country, 2012–2023
- Import Prices, By Country Of Origin, 2012–2023
- Exports, In Physical Terms, By Country, 2012–2023
- Exports, In Value Terms, By Country, 2012–2023
- Export Prices, By Country Of Destination, 2012–2023
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LIST OF FIGURES
- Market Volume, In Physical Terms, 2012–2023
- Market Value, 2012–2023
- Market Structure – Domestic Supply vs. Imports, In Physical Terms, 2012-2023
- Market Structure – Domestic Supply vs. Imports, In Value Terms, 2012-2023
- Trade Balance, In Physical Terms, 2012-2023
- Trade Balance, In Value Terms, 2012-2023
- Per Capita Consumption, 2012-2023
- Market Volume Forecast to 2030
- Market Value Forecast to 2030
- Products: Market Size And Growth, By Type
- Products: Average Per Capita Consumption, By Type
- Products: Exports And Growth, By Type
- Products: Export Prices And Growth, By Type
- Production Volume And Growth
- Exports And Growth
- Export Prices And Growth
- Market Size And Growth
- Per Capita Consumption
- Imports And Growth
- Import Prices
- Production, In Physical Terms, 2012–2023
- Production, In Value Terms, 2012–2023
- Imports, In Physical Terms, 2012–2023
- Imports, In Value Terms, 2012–2023
- Imports, In Physical Terms, By Country, 2023
- Imports, In Physical Terms, By Country, 2012–2023
- Imports, In Value Terms, By Country, 2012–2023
- Import Prices, By Country Of Origin, 2012–2023
- Exports, In Physical Terms, 2012–2023
- Exports, In Value Terms, 2012–2023
- Exports, In Physical Terms, By Country, 2023
- Exports, In Physical Terms, By Country, 2012–2023
- Exports, In Value Terms, By Country, 2012–2023
- Export Prices, By Country Of Destination, 2012–2023
This report provides an in-depth analysis of the dairy produce market in Nigeria.
This report provides an in-depth analysis of the butter and ghee market in Nigeria.
This report provides an in-depth analysis of the ghee market in Nigeria.
This report provides an in-depth analysis of the butter market in Nigeria.
This report provides an in-depth analysis of the market for butter and dairy spreads in Nigeria.
This report provides an in-depth analysis of the dairy spread market in Nigeria.
This report provides an in-depth analysis of the global dairy produce market.
This report provides an in-depth analysis of the global butter and ghee market.
This report provides an in-depth analysis of the global ghee market.
This report provides an in-depth analysis of the global butter market.
Global butter and ghee consumption amounted to X thousand tons in 2015, remaining constant against the previous year level.
Global butter and ghee exports amounted to X thousand tons in 2015, coming down by -X% against the previous year level.
Global butter and ghee imports amounted to X thousand tons in 2015, descending by -X% against the previous year level.
In 2015, the countries with the highest levels of butter and ghee production were Turkey (X thousand tons), Iran (X thousand tons), Syria (X thousand tons), together accounting for X% of total output.
The global butter and ghee market fluctuated wildly, finally rising from X billion USD in 2007 to X billion USD in 2015.
The market of butter and ghee fluctuated wildly, finally rising from X billion USD in 2007 to X billion USD in 2015. Over the last year, the market dropped by X% in value terms.
New Zealand seized control of the butter and ghee market. In 2014, New Zealand exported X thousand tons of butter and ghee totaling X USD, X% over the previous year. Its primary trading partner was China, where it supplied X% of its total but
New Zealand continued its dominance in the global ghee trade. In 2014, New Zealand exported X thousand tons of ghee totaling X million USD, X% over the previous year. Its primary trading partner was China, where it supplied X% of its total ghee
Explore the top import markets for butter in the world based on data from IndexBox platform. Learn about the countries importing the most butter and the trends driving global butter trade.
The butter market is projected to experience steady growth over the next seven years, driven by increasing demand worldwide. Market performance is expected to see a CAGR of +1.8% in volume and +3.5% in value from 2023 to 2030.