Report Update Feb 1, 2025

Nigeria - Almonds - Market Analysis, Forecast, Size, Trends and Insights

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Nigeria: Almond Market 2025

Almond Market Size in Nigeria

In 2021, the Nigerien almond market was finally on the rise to reach $X after two years of decline. In general, consumption, however, continues to indicate a slight descent. Over the period under review, the market hit record highs at $X in 2012; however, from 2013 to 2021, consumption stood at a somewhat lower figure.

Almond Production in Nigeria

In value terms, almond production soared to $X in 2021 estimated in export price. The total output value increased at an average annual rate of +2.3% over the period from 2012 to 2021; the trend pattern indicated some noticeable fluctuations being recorded in certain years. The most prominent rate of growth was recorded in 2019 when the production volume increased by 39% against the previous year. As a result, production reached the peak level of $X. From 2020 to 2021, production growth failed to regain momentum.

Almond Exports

Exports from Nigeria

In 2021, exports of almonds from Nigeria dropped remarkably to X tons, which is down by -83.1% against the previous year's figure. Over the period under review, exports, however, posted a significant increase. The pace of growth appeared the most rapid in 2016 when exports increased by 104% against the previous year. The exports peaked at X tons in 2020, and then dropped rapidly in the following year.

In value terms, almond exports dropped dramatically to $X in 2021. Overall, exports, however, recorded a significant expansion. The pace of growth appeared the most rapid in 2017 when exports increased by 96% against the previous year. The exports peaked at $X in 2020, and then shrank notably in the following year.

Exports by Country

Spain (X tons) was the main destination for almond exports from Nigeria, with a approx. 100% share of total exports.

From 2013 to 2021, the average annual growth rate of volume to Spain was relatively modest.

In value terms, Spain ($X) emerged as the key foreign market for almond exports from Nigeria.

From 2013 to 2021, the average annual rate of growth in terms of value to Spain was relatively modest.

Export Prices by Country

The average almond export price stood at $X per ton in 2021, reducing by -28% against the previous year. In general, the export price showed a abrupt shrinkage. The pace of growth was the most pronounced in 2015 an increase of 31%. As a result, the export price attained the peak level of $X per ton. From 2016 to 2021, the average export prices failed to regain momentum.

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

From 2013 to 2021, the rate of growth in terms of prices for Jordan amounted to 0.0% per year.

Almond Imports

Imports into Nigeria

In 2021, approx. X tons of almonds were imported into Nigeria; growing by 593% compared with 2020 figures. Overall, imports recorded a significant increase. The most prominent rate of growth was recorded in 2020 with an increase of 3,159%. Over the period under review, imports attained the maximum in 2021 and are expected to retain growth in the near future.

In value terms, almond imports surged to $X in 2021. In general, imports enjoyed a tangible expansion. The pace of growth appeared the most rapid in 2020 with an increase of 2,200%. Imports peaked in 2021 and are likely to continue growth in years to come.

Imports by Country

In 2021, China (X tons) constituted the largest almond supplier to Nigeria, with a 67% share of total imports. Moreover, almond imports from China exceeded the figures recorded by the second-largest supplier, the UK (X tons), threefold. The third position in this ranking was taken by India (X tons), with a 6.6% share.

From 2012 to 2021, the average annual growth rate of volume from China totaled +34.5%. The remaining supplying countries recorded the following average annual rates of imports growth: the UK (+59.6% per year) and India (+85.0% per year).

In value terms, China ($X) constituted the largest supplier of almond to Nigeria, comprising 59% of total imports. The second position in the ranking was taken by India ($X), with a 19% share of total imports. It was followed by the UK, with a 7.2% share.

From 2012 to 2021, the average annual growth rate of value from China was relatively modest. The remaining supplying countries recorded the following average annual rates of imports growth: India (+65.0% per year) and the UK (+0.3% per year).

Import Prices by Country

The average almond import price stood at $X per ton in 2021, declining by -36.6% against the previous year. Overall, the import price continues to indicate a dramatic downturn. The pace of growth was the most pronounced in 2019 a decrease of -10.5%. The import price peaked at $X per ton in 2012; however, from 2013 to 2021, import prices stood at a somewhat lower figure.

There were significant differences in the average prices amongst the major supplying countries. In 2021, the country with the highest price was Lebanon ($X per ton), while the price for the UK ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by India (-10.9%), while the prices for the other major suppliers experienced a decline.

Source: IndexBox Platform

Frequently Asked Questions (FAQ) :

What are the largest markets for almonds in the world?

The United States constituted the country with the largest volume of almond consumption, accounting for 49% of total volume. Moreover, almond consumption in the United States exceeded the figures recorded by the second-largest consumer, Spain, fivefold. India ranked third in terms of total consumption with a 5.7% share.

What are the largest producers of almonds in the world?

The United States remains the largest almond producing country worldwide, accounting for 55% of total volume. Moreover, almond production in the United States exceeded the figures recorded by the second-largest producer, Spain, sixfold. The third position in this ranking was occupied by Australia, with a 5.6% share.

What are the leading suppliers of almonds to Nigeria?

In value terms, the UK and Lebanon constituted the largest almond suppliers to Nigeria.

What is the average export price for almonds in Nigeria?

The average almond export price stood at $1,122 per ton in 2021, picking up by 12% against the previous year.

What is the average import price for almonds in Nigeria?

In 2021, the average almond import price amounted to $1,750 per ton, increasing by 8.3% against the previous year.

This report provides an in-depth analysis of the almond 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 221 - Almonds

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.

1. INTRODUCTION

Making Data-Driven Decisions to Grow Your Business
1. REPORT DESCRIPTION
2. RESEARCH METHODOLOGY AND AI PLATFORM
3. DATA-DRIVEN DECISIONS FOR YOUR BUSINESS
4. GLOSSARY AND SPECIFIC TERMS
2. EXECUTIVE SUMMARY

A Quick Overview of Market Performance
1. KEY FINDINGS
2. MARKET TRENDS This Chapter is Available Only for the Professional Edition PRO
3. MARKET OVERVIEW

Understanding the Current State of The Market and Its Prospects
1. MARKET SIZE
2. MARKET STRUCTURE
3. TRADE BALANCE
4. PER CAPITA CONSUMPTION
5. MARKET FORECAST TO 2030
4. MOST PROMISING PRODUCT

Finding New Products to Diversify Your Business
This Chapter is Available Only for the Professional Edition PRO
1. TOP PRODUCTS TO DIVERSIFY YOUR BUSINESS
2. BEST-SELLING PRODUCTS
3. MOST CONSUMED PRODUCT
4. MOST TRADED PRODUCT
5. MOST PROFITABLE PRODUCT FOR EXPORT
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
1. TOP COUNTRIES TO SOURCE YOUR PRODUCT
2. TOP PRODUCING COUNTRIES
3. COUNTRIES WITH TOP YIELDS
4. TOP EXPORTING COUNTRIES
5. LOW-COST EXPORTING COUNTRIES
6. MOST PROMISING OVERSEAS MARKETS

Choosing the Best Countries to Boost Your Exports
This Chapter is Available Only for the Professional Edition PRO
1. TOP OVERSEAS MARKETS FOR EXPORTING YOUR PRODUCT
2. TOP CONSUMING MARKETS
3. UNSATURATED MARKETS
4. TOP IMPORTING MARKETS
5. MOST PROFITABLE MARKETS
7. PRODUCTION

The Latest Trends and Insights into The Industry
1. PRODUCTION, HARVESTED AREA AND YIELD
8. IMPORTS
The Largest Import Supplying Countries
1. IMPORTS FROM 2012–2024
2. IMPORTS BY COUNTRY
3. IMPORT PRICES BY COUNTRY
9. EXPORTS
The Largest Destinations for Exports
1. EXPORTS FROM 2012–2024
2. EXPORTS BY COUNTRY
3. EXPORT PRICES BY COUNTRY
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
1. Key Findings In 2024
2. Market Volume, In Physical Terms, 2012–2024
3. Market Value, 2012–2024
4. Per Capita Consumption In 2012-2024
5. Imports, In Physical Terms, By Country, 2012–2024
6. Imports, In Value Terms, By Country, 2012–2024
7. Import Prices, By Country Of Origin, 2012–2024
8. Exports, In Physical Terms, By Country, 2012–2024
9. Exports, In Value Terms, By Country, 2012–2024
10. Export Prices, By Country Of Destination, 2012–2024
LIST OF FIGURES
1. Market Volume, In Physical Terms, 2012–2024
2. Market Value, 2012–2024
3. Market Structure – Domestic Supply vs. Imports, In Physical Terms, 2012-2024
4. Market Structure – Domestic Supply vs. Imports, In Value Terms, 2012-2024
5. Trade Balance, In Physical Terms, 2012-2024
6. Trade Balance, In Value Terms, 2012-2024
7. Per Capita Consumption, 2012-2024
8. Market Volume Forecast to 2030
9. Market Value Forecast to 2030
10. Products: Market Size And Growth, By Type
11. Products: Average Per Capita Consumption, By Type
12. Products: Exports And Growth, By Type
13. Products: Export Prices And Growth, By Type
14. Production Volume And Growth
15. Yield And Growth
16. Exports And Growth
17. Export Prices And Growth
18. Market Size And Growth
19. Per Capita Consumption
20. Imports And Growth
21. Import Prices
22. Production, In Physical Terms, 2012–2024
23. Production, In Value Terms, 2012–2024
24. Area Harvested, 2012–2024
25. Yield, 2012–2024
26. Imports, In Physical Terms, 2012–2024
27. Imports, In Value Terms, 2012–2024
28. Imports, In Physical Terms, By Country, 2024
29. Imports, In Physical Terms, By Country, 2012–2024
30. Imports, In Value Terms, By Country, 2012–2024
31. Import Prices, By Country Of Origin, 2012–2024
32. Exports, In Physical Terms, 2012–2024
33. Exports, In Value Terms, 2012–2024
34. Exports, In Physical Terms, By Country, 2024
35. Exports, In Physical Terms, By Country, 2012–2024
36. Exports, In Value Terms, By Country, 2012–2024
37. Export Prices, By Country Of Destination, 2012–2024