Nigeria: Albumins And Albuminates Market 2025

Albumins And Albuminates Market Size in Nigeria

The Nigerien albumins and albuminates market declined to $X in 2021, reducing by -4.5% against the previous year. This figure reflects the total revenues of producers and importers (excluding logistics costs, retail marketing costs, and retailers' margins, which will be included in the final consumer price). Over the period under review, consumption, however, continues to indicate a dramatic shrinkage. Albumins and albuminates consumption peaked at $X in 2014; however, from 2015 to 2021, consumption stood at a somewhat lower figure.

Albumins And Albuminates Exports

Exports from Nigeria

In 2021, approx. X kg of albumins, albuminates and other derivatives (excluding egg albumin) were exported from Nigeria; which is down by -99.6% against the previous year. Overall, exports continue to indicate a abrupt setback. The smallest decline of -37.3% was in 2017. The exports peaked at X tons in 2020, and then fell markedly in the following year.

In value terms, albumins and albuminates exports dropped remarkably to $X in 2021. In general, exports, however, showed a relatively flat trend pattern. The pace of growth was the most pronounced in 2017 with an increase of 42%. The exports peaked at $X in 2020, and then declined notably in the following year.

Exports by Country

Singapore (X kg) was the main destination for albumins and albuminates exports from Nigeria, accounting for a approx. 52% share of total exports.

From 2016 to 2021, the average annual rate of growth in terms of volume to Singapore was relatively modest.

In value terms, Singapore ($X) emerged as the key foreign market for albumins, albuminates and other derivatives (excluding egg albumin) exports from Nigeria.

From 2016 to 2021, the average annual rate of growth in terms of value to Singapore was relatively modest.

Export Prices by Country

In 2021, the average albumins and albuminates export price amounted to $X per ton, dropping by -2% against the previous year. In general, the export price, however, enjoyed resilient growth. The pace of growth appeared the most rapid in 2017 an increase of 127%. The export price peaked at $X per ton in 2020, and then contracted modestly in the following year.

As there is only one major export destination, the average price level is determined by prices for Singapore.

From 2016 to 2021, the rate of growth in terms of prices for Ireland amounted to 0.0% per year.

Albumins And Albuminates Imports

Imports into Nigeria

For the third year in a row, Nigeria recorded decline in purchases abroad of albumins, albuminates and other derivatives (excluding egg albumin), which decreased by -51.2% to X tons in 2021. Over the period under review, imports saw a sharp slump. The pace of growth was the most pronounced in 2018 when imports increased by 176% against the previous year. Imports peaked at X tons in 2012; however, from 2013 to 2021, imports stood at a somewhat lower figure.

In value terms, albumins and albuminates imports dropped rapidly to $X in 2021. Overall, imports recorded a sharp contraction. The pace of growth appeared the most rapid in 2018 when imports increased by 153% against the previous year. Over the period under review, imports hit record highs at $X in 2014; however, from 2015 to 2021, imports stood at a somewhat lower figure.

Imports by Country

In 2021, Canada (X tons) constituted the largest albumins and albuminates supplier to Nigeria, accounting for a 54% share of total imports. Moreover, albumins and albuminates imports from Canada exceeded the figures recorded by the second-largest supplier, Swaziland (X tons), twofold. The United States (X tons) ranked third in terms of total imports with a 20% share.

From 2012 to 2021, the average annual growth rate of volume from Canada stood at -19.8%. The remaining supplying countries recorded the following average annual rates of imports growth: Swaziland (-25.3% per year) and the United States (-38.7% per year).

In value terms, the United States ($X) constituted the largest supplier of albumins, albuminates and other derivatives (excluding egg albumin) to Nigeria, comprising 89% of total imports. The second position in the ranking was taken by Swaziland ($X), with a 5.3% share of total imports. It was followed by Canada, with a 2.5% share.

From 2012 to 2021, the average annual rate of growth in terms of value from the United States amounted to -29.1%. The remaining supplying countries recorded the following average annual rates of imports growth: Swaziland (-38.0% per year) and Canada (-35.0% per year).

Import Prices by Country

The average albumins and albuminates import price stood at $X per ton in 2021, reducing by -11.9% against the previous year. In general, the import price continues to indicate a relatively flat trend pattern. The pace of growth appeared the most rapid in 2020 when the average import price increased by 84%. Over the period under review, average import prices attained the peak figure at $X per ton in 2014; however, from 2015 to 2021, import prices failed to regain momentum.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was the United States ($X per ton), while the price for Canada ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by the United States (+15.8%), while the prices for the other major suppliers experienced a decline.

Source: IndexBox Platform

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