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Nigeria - Frozen Crustaceans - Market Analysis, Forecast, Size, Trends and Insights
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View PricingNigeria: Frozen Crustaceans Market 2024
Frozen Crustaceans Market Size in Nigeria
The Nigerien frozen crustaceans market expanded significantly to $X in 2023, picking up by X% against the previous year. Over the period under review, consumption saw a resilient expansion. Over the period under review, the market reached the maximum level at $X in 2021; afterwards, it flattened through to 2023.
Frozen Crustaceans Production in Nigeria
In value terms, frozen crustaceans production expanded significantly to $X in 2023 estimated in export price. Overall, production posted a prominent expansion. The pace of growth was the most pronounced in 2017 when the production volume increased by X%. Over the period under review, production attained the maximum level in 2023 and is expected to retain growth in the near future.
Frozen Crustaceans Exports
Exports from Nigeria
In 2023, the amount of frozen crustaceans exported from Nigeria rose sharply to X tons, picking up by X% against the previous year's figure. In general, exports, however, faced a deep contraction. The pace of growth appeared the most rapid in 2018 when exports increased by X%. Over the period under review, the exports attained the maximum at X tons in 2013; however, from 2014 to 2023, the exports failed to regain momentum.
In value terms, frozen crustaceans exports soared to $X in 2023. Overall, exports, however, recorded a deep downturn. The pace of growth appeared the most rapid in 2018 when exports increased by X% against the previous year. Over the period under review, the exports reached the peak figure at $X in 2012; however, from 2013 to 2023, the exports failed to regain momentum.
Exports by Country
The Netherlands (X tons) was the main destination for frozen crustaceans exports from Nigeria, accounting for a X% share of total exports. Moreover, frozen crustaceans exports to the Netherlands exceeded the volume sent to the second major destination, Belgium (X tons), fourfold. Malaysia (X tons) ranked third in terms of total exports with an X% share.
From 2012 to 2023, the average annual rate of growth in terms of volume to the Netherlands totaled X%. Exports to the other major destinations recorded the following average annual rates of exports growth: Belgium (X% per year) and Malaysia (X% per year).
In value terms, the Netherlands ($X) remains the key foreign market for frozen crustaceans exports from Nigeria, comprising X% of total exports. The second position in the ranking was taken by Belgium ($X), with a X% share of total exports. It was followed by the United States, with a X% share.
From 2012 to 2023, the average annual growth rate of value to the Netherlands totaled X%. Exports to the other major destinations recorded the following average annual rates of exports growth: Belgium (X% per year) and the United States (X% per year).
Export Prices by Country
The average frozen crustaceans export price stood at $X per ton in 2023, with an increase of X% against the previous year. Overall, the export price, however, continues to indicate a pronounced setback. The pace of growth appeared the most rapid in 2015 when the average export price increased by X%. The export price peaked at $X per ton in 2012; however, from 2013 to 2023, the export prices remained at a lower figure.
There were significant differences in the average prices for the major external markets. In 2023, amid the top suppliers, the country with the highest price was the UK ($X per ton), while the average price for exports to Spain ($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 Malaysia (X%), while the prices for the other major destinations experienced more modest paces of growth.
Frozen Crustaceans Imports
Imports into Nigeria
In 2023, approx. X tons of frozen crustaceans were imported into Nigeria; with a decrease of X% on the previous year's figure. Over the period under review, imports saw a noticeable slump. The most prominent rate of growth was recorded in 2021 when imports increased by X%. Imports peaked at X tons in 2013; however, from 2014 to 2023, imports failed to regain momentum.
In value terms, frozen crustaceans imports declined significantly to $X in 2023. In general, imports continue to indicate a noticeable shrinkage. The pace of growth was the most pronounced in 2015 when imports increased by X% against the previous year. Imports peaked at $X in 2013; however, from 2014 to 2023, imports failed to regain momentum.
Imports by Country
In 2023, Thailand (X tons) constituted the largest supplier of frozen crustaceans to Nigeria, accounting for a X% share of total imports. Moreover, frozen crustaceans imports from Thailand exceeded the figures recorded by the second-largest supplier, Italy (X tons), threefold. Vietnam (X tons) ranked third in terms of total imports with a X% share.
From 2012 to 2023, the average annual growth rate of volume from Thailand totaled X%. The remaining supplying countries recorded the following average annual rates of imports growth: Italy (X% per year) and Vietnam (X% per year).
In value terms, the largest frozen crustaceans suppliers to Nigeria were Vietnam ($X), Thailand ($X) and Italy ($X), together accounting for X% of total imports.
Thailand, with a CAGR of X%, saw the highest growth rate of the value of imports, in terms of the main suppliers over the period under review, while purchases for the other leaders experienced mixed trend patterns.
Import Prices by Country
In 2023, the average frozen crustaceans import price amounted to $X per ton, increasing by X% against the previous year. In general, the import price saw a relatively flat trend pattern. The most prominent rate of growth was recorded in 2013 when the average import price increased by X%. As a result, import price reached the peak level of $X per ton. From 2014 to 2023, the average import prices remained at a lower figure.
Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was Vietnam ($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 South Africa (X%), while the prices for the other major suppliers experienced more modest paces of growth.
Source: IndexBox Platform
This report provides an in-depth analysis of the frozen crustaceans 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 10203100 - Frozen crustaceans, frozen flours, meals and pellets of crustaceans, fit for human consumption
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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