Nigeria: Bread And Bakery Market 2024

Bread And Bakery Market Size in Nigeria

The Nigerien bread and bakery market amounted to $X in 2022, stabilizing at the previous year. In general, the total consumption indicated a pronounced increase from 2012 to 2022: its value increased at an average annual rate of X% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, consumption decreased by X% against 2020 indices. Bread and bakery consumption peaked at $X in 2017; however, from 2018 to 2022, consumption remained at a lower figure.

Bread And Bakery Production in Nigeria

In value terms, bread and bakery production amounted to $X in 2022 estimated in export price. In general, the total production indicated a moderate increase from 2012 to 2022: its value increased at an average annual rate of X% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, production decreased by X% against 2020 indices. The growth pace was the most rapid in 2015 when the production volume increased by X% against the previous year. Over the period under review, production hit record highs at $X in 2017; however, from 2018 to 2022, production failed to regain momentum.

Bread And Bakery Exports

Exports from Nigeria

In 2022, shipments abroad of bread and bakery decreased by X% to X tons, falling for the second consecutive year after three years of growth. Over the period under review, exports continue to indicate a sharp decrease. The pace of growth was the most pronounced in 2015 when exports increased by X%. As a result, the exports attained the peak of X tons. From 2016 to 2022, the growth of the exports remained at a lower figure.

In value terms, bread and bakery exports fell dramatically to $X in 2022. In general, exports saw a sharp reduction. The growth pace was the most rapid in 2015 when exports increased by X% against the previous year. As a result, the exports reached the peak of $X. From 2016 to 2022, the growth of the exports remained at a lower figure.

Exports by Country

Ghana (X tons) was the main destination for bread and bakery exports from Nigeria, accounting for a X% share of total exports. It was followed by Cote d'Ivoire (X tons), with a X% share of total exports.

From 2012 to 2022, the average annual rate of growth in terms of volume to Ghana amounted to X%.

In value terms, Ghana ($X) remains the key foreign market for bread and bakery exports from Nigeria, comprising X% of total exports. The second position in the ranking was taken by Cote d'Ivoire ($X), with a X% share of total exports.

From 2012 to 2022, the average annual growth rate of value to Ghana amounted to X%.

Export Prices by Country

The average bread and bakery export price stood at $X per ton in 2022, increasing by X% against the previous year. In general, the export price, however, saw a pronounced downturn. The most prominent rate of growth was recorded in 2019 an increase of X% against the previous year. The export price peaked at $X per ton in 2012; however, from 2013 to 2022, the export prices failed to regain momentum.

Average prices varied noticeably for the major overseas markets. In 2022, amid the top suppliers, the country with the highest price was Ghana ($X per ton), while the average price for exports to Cote d'Ivoire totaled $X per ton.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Thailand (X%), while the prices for the other major destinations experienced more modest paces of growth.

Bread And Bakery Imports

Imports into Nigeria

In 2022, bread and bakery imports into Nigeria surged to X tons, increasing by X% compared with 2021. In general, imports showed a significant expansion. As a result, imports attained the peak and are likely to continue growth in the immediate term.

In value terms, bread and bakery imports skyrocketed to $X in 2022. Over the period under review, imports showed a prominent increase. As a result, imports reached the peak and are likely to continue growth in the immediate term.

Imports by Country

In 2022, China (X tons) constituted the largest bread and bakery supplier to Nigeria, with a X% share of total imports. Moreover, bread and bakery imports from China exceeded the figures recorded by the second-largest supplier, the UK (X tons), tenfold. The third position in this ranking was held by France (X tons), with a X% share.

From 2012 to 2022, the average annual growth rate of volume from China amounted to X%. The remaining supplying countries recorded the following average annual rates of imports growth: the UK (X% per year) and France (X% per year).

In value terms, the largest bread and bakery suppliers to Nigeria were China ($X), South Africa ($X) and the UK ($X), together accounting for X% of total imports.

South Africa, with a CAGR of X%, recorded the highest rates of growth with regard to the value of imports, in terms of the main suppliers over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

In 2022, the average bread and bakery import price amounted to $X per ton, waning by X% against the previous year. In general, the import price continues to indicate a drastic downturn. The pace of growth appeared the most rapid in 2020 when the average import price increased by X% against the previous year. As a result, import price reached the peak level of $X per ton. From 2021 to 2022, the average import prices failed to regain momentum.

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

From 2012 to 2022, 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 a decline.

Source: IndexBox Platform

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