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Nigeria - Corks and Stoppers of Natural Cork - Market Analysis, Forecast, Size, Trends and Insights
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View PricingNigeria: Natural Cork Stopper Market 2024
Natural Cork Stopper Market Size in Nigeria
The Nigerien natural cork stopper market soared to $X in 2023, increasing by X% against the previous year. Over the period under review, the total consumption indicated temperate growth from 2012 to 2023: its value increased at an average annual rate of X% over the last eleven years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2023 figures, consumption increased by X% against 2019 indices. Natural cork stopper consumption peaked in 2023 and is expected to retain growth in years to come.
Natural Cork Stopper Production in Nigeria
In value terms, natural cork stopper production surged to $X in 2023 estimated in export price. Overall, production saw a resilient increase. As a result, production attained the peak level and is likely to continue growth in the immediate term.
Natural Cork Stopper Exports
Exports from Nigeria
In 2023, overseas shipments of corks and stoppers of natural cork decreased by X% to X kg, falling for the second consecutive year after four years of decline. Overall, exports, however, saw a prominent expansion. The growth pace was the most rapid in 2013 with an increase of X%. Over the period under review, the exports reached the peak figure at X tons in 2021; however, from 2022 to 2023, the exports failed to regain momentum.
In value terms, natural cork stopper exports contracted sharply to $X in 2023. In general, exports, however, recorded significant growth. The most prominent rate of growth was recorded in 2013 when exports increased by X% against the previous year. The exports peaked at $X in 2022, and then dropped significantly in the following year.
Exports by Country
Ghana (X kg) was the main destination for natural cork stopper exports from Nigeria, accounting for a X% share of total exports. Moreover, natural cork stopper exports to Ghana exceeded the volume sent to the second major destination, South Africa (X kg), tenfold.
From 2012 to 2023, the average annual growth rate of volume to Ghana stood at X%. Exports to the other major destinations recorded the following average annual rates of exports growth: South Africa (X% per year) and China (X% per year).
In value terms, the largest markets for natural cork stopper exported from Nigeria were Ghana ($X), China ($X) and South Africa ($X).
In terms of the main countries of destination, Ghana, 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 trend patterns.
Export Prices by Country
In 2023, the average natural cork stopper export price amounted to $X per ton, jumping by X% against the previous year. Over the period under review, the export price enjoyed a buoyant increase. As a result, the export price attained the peak level and is likely to continue growth in the immediate term.
Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was China ($X per ton), while the average price for exports to South Africa ($X per ton) was amongst the lowest.
From 2012 to 2023, the most notable rate of growth in terms of prices was recorded for supplies to Ghana (X%), while the prices for the other major destinations experienced a decline.
Natural Cork Stopper Imports
Imports into Nigeria
In 2023, overseas purchases of corks and stoppers of natural cork were finally on the rise to reach X tons for the first time since 2020, thus ending a two-year declining trend. Overall, imports showed a significant increase. The pace of growth was the most pronounced in 2013 when imports increased by X%. As a result, imports attained the peak of X tons. From 2014 to 2023, the growth of imports failed to regain momentum.
In value terms, natural cork stopper imports declined rapidly to $X in 2023. In general, imports showed significant growth. The pace of growth was the most pronounced in 2013 when imports increased by X%. As a result, imports attained the peak of $X. From 2014 to 2023, the growth of imports remained at a lower figure.
Imports by Country
India (X tons), China (X tons) and Portugal (X tons) were the main suppliers of natural cork stopper imports to Nigeria, together comprising X% of total imports. Slovenia and the Netherlands lagged somewhat behind, together comprising a further X%.
From 2012 to 2023, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by the Netherlands (with a CAGR of X%), while imports for the other leaders experienced more modest paces of growth.
In value terms, the largest natural cork stopper suppliers to Nigeria were India ($X), China ($X) and Portugal ($X), with a combined X% share of total imports. The Netherlands and Slovenia lagged somewhat behind, together comprising a further X%.
The Netherlands, with a CAGR of X%, saw the highest rates of growth with regard to the value of imports, among the main suppliers over the period under review, while purchases for the other leaders experienced more modest paces of growth.
Import Prices by Country
The average natural cork stopper import price stood at $X per ton in 2023, waning by X% against the previous year. Over the period under review, the import price showed a noticeable slump. The pace of growth was the most pronounced in 2022 when the average import price increased by X% against the previous year. Over the period under review, average import prices reached the maximum at $X per ton in 2015; however, from 2016 to 2023, import prices failed to regain momentum.
There were significant differences in the average prices amongst the major supplying countries. In 2023, amid the top importers, the country with the highest price was the Netherlands ($X per ton), while the price for China ($X per ton) was amongst the lowest.
From 2012 to 2023, the most notable rate of growth in terms of prices was attained by India (X%), while the prices for the other major suppliers experienced a decline.
Source: IndexBox Platform
This report provides an in-depth analysis of the natural cork stopper 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:
- Prodcom 16292250 - Corks and stoppers of natural cork
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
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