Report Update Nov 1, 2024

Nigeria - Breakfast Cereals - Market Analysis, Forecast, Size, Trends and Insights

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Nigeria: Breakfast Cereal Market 2022

Breakfast Cereal Market Size in Nigeria

The Nigerien breakfast cereal market dropped notably to $X in 2021, with a decrease of -19.2% against the previous year. In general, consumption, however, showed a buoyant increase. Breakfast cereal consumption peaked at $X in 2020, and then fell dramatically in the following year.

Breakfast Cereal Production in Nigeria

In value terms, breakfast cereal production plummeted to $X in 2021 estimated in export price. Over the period under review, production, however, enjoyed resilient growth. The most prominent rate of growth was recorded in 2016 with an increase of 86%. Over the period under review, production hit record highs at $X in 2020, and then shrank rapidly in the following year.

Breakfast Cereal Exports

Exports from Nigeria

In 2021, overseas shipments of breakfast cereals decreased by -96.4% to X tons, falling for the second consecutive year after three years of growth. In general, exports continue to indicate a precipitous setback. The pace of growth appeared the most rapid in 2019 when exports increased by 107%. As a result, the exports attained the peak of X tons. From 2020 to 2021, the growth of the exports remained at a somewhat lower figure.

In value terms, breakfast cereal exports shrank remarkably to $X in 2021. Over the period under review, exports saw a sharp downturn. The growth pace was the most rapid in 2019 when exports increased by 163% against the previous year. Over the period under review, the exports hit record highs at $X in 2020, and then fell rapidly in the following year.

Exports by Country

Ghana (X tons) was the main destination for breakfast cereal exports from Nigeria, accounting for a 66% share of total exports. Moreover, breakfast cereal exports to Ghana exceeded the volume sent to the second major destination, Canada (X tons), threefold.

From 2012 to 2021, the average annual rate of growth in terms of volume to Ghana stood at -24.7%. Exports to the other major destinations recorded the following average annual rates of exports growth: Canada (-9.5% per year) and the UK (-25.6% per year).

In value terms, the largest markets for breakfast cereal exported from Nigeria were Ghana ($X), Canada ($X) and the UK ($X).

Ghana, with a CAGR of -22.6%, saw the highest growth rate of the value of exports, among the main countries of destination over the period under review, while shipments for the other leaders experienced a decline.

Export Prices by Country

In 2021, the average breakfast cereal export price amounted to $X per ton, shrinking by -9.3% against the previous year. Over the period under review, the export price continues to indicate a perceptible slump. The most prominent rate of growth was recorded in 2020 an increase of 73%. Over the period under review, the average export prices reached the maximum at $X per ton in 2014; however, from 2015 to 2021, the export prices failed to regain momentum.

There were significant differences in the average prices for the major overseas markets. In 2021, the country with the highest price was Canada ($X per ton), while the average price for exports to the UK ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to Niger (+17.3%), while the prices for the other major destinations experienced mixed trend patterns.

Breakfast Cereal Imports

Imports into Nigeria

In 2021, after two years of decline, there was significant growth in overseas purchases of breakfast cereals, when their volume increased by 410% to X tons. In general, imports showed buoyant growth. As a result, imports reached the peak and are likely to continue growth in the immediate term.

In value terms, breakfast cereal imports soared to $X in 2021. Overall, imports posted pronounced growth. As a result, imports reached the peak and are likely to continue growth in the immediate term.

Imports by Country

In 2021, China (X tons) constituted the largest breakfast cereal supplier to Nigeria, accounting for a 43% share of total imports. Moreover, breakfast cereal imports from China exceeded the figures recorded by the second-largest supplier, India (X tons), twofold. The UK (X tons) ranked third in terms of total imports with an 11% share.

From 2012 to 2021, the average annual rate of growth in terms of volume from China totaled +106.1%. The remaining supplying countries recorded the following average annual rates of imports growth: India (+28.0% per year) and the UK (-3.0% per year).

In value terms, China ($X), the UK ($X) and India ($X) were the largest breakfast cereal suppliers to Nigeria, together accounting for 70% of total imports.

Among the main suppliers, China, with a CAGR of +83.8%, saw the highest growth rate of the value of imports, over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

In 2021, the average breakfast cereal import price amounted to $X per ton, which is down by -27.2% against the previous year. In general, the import price recorded a abrupt decrease. The growth pace was the most rapid in 2019 an increase of 20%. The import price peaked at $X per ton in 2014; however, from 2015 to 2021, import prices stood at a somewhat lower figure.

Prices varied noticeably country of origin: the country with the highest price was the UK ($X per ton), while the price for China ($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 (+2.6%), while the prices for the other major suppliers experienced a decline.

Source: IndexBox Platform

Frequently Asked Questions (FAQ) :

What are the largest markets for breakfast cereals in the world?

The countries with the highest volumes of in 2021 were the United States, China and India, together accounting for 36% of global consumption. These countries were followed by Brazil, Indonesia, Japan, Mexico, the UK, Nigeria, Turkey, Iran and Pakistan, which together accounted for a further 21%.

What are the largest producers of breakfast cereals in the world?

The countries with the highest volumes of in 2021 were China, the United States and India, together comprising 36% of global production. These countries were followed by Brazil, Indonesia, Mexico, Japan, the UK, Turkey, Nigeria, Iran and Pakistan, which together accounted for a further 21%.

What are the leading suppliers of breakfast cereals to Nigeria?

In value terms, the UK constituted the largest supplier of breakfast cereal to Nigeria, comprising 80% of total imports. The second position in the ranking was occupied by Portugal, with an 8.3% share of total imports. It was followed by the United States, with a 3.8% share.

What are the leading importers of breakfast cereals from Nigeria?

In value terms, Benin, the Netherlands and the UK constituted the largest markets for breakfast cereal exported from Nigeria worldwide, together comprising 78% of total exports.

What is the average export price for breakfast cereals in Nigeria?

In 2021, the average breakfast cereal export price amounted to $1,996 per ton, surging by 20% against the previous year.

What is the average import price for breakfast cereals in Nigeria?

In 2021, the average breakfast cereal import price amounted to $3,049 per ton, increasing by 113% against the previous year.

This report provides an in-depth analysis of the breakfast cereal 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 10613351 - Muesli type preparations based on unroasted cereal flakes
Prodcom 10613355 - Cereals in grain form, precooked or otherwise prepared (excluding maize)
Prodcom 10613353 - Other prepared foods obtained by the swelling or roasting of cereals

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. TOP EXPORTING COUNTRIES
4. 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 VOLUME AND VALUE
8. IMPORTS
The Largest Import Supplying Countries
1. IMPORTS FROM 2012–2023
2. IMPORTS BY COUNTRY
3. IMPORT PRICES BY COUNTRY
9. EXPORTS
The Largest Destinations for Exports
1. EXPORTS FROM 2012–2023
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 2023
2. Market Volume, In Physical Terms, 2012–2023
3. Market Value, 2012–2023
4. Per Capita Consumption In 2012-2023
5. Imports, In Physical Terms, By Country, 2012–2023
6. Imports, In Value Terms, By Country, 2012–2023
7. Import Prices, By Country Of Origin, 2012–2023
8. Exports, In Physical Terms, By Country, 2012–2023
9. Exports, In Value Terms, By Country, 2012–2023
10. Export Prices, By Country Of Destination, 2012–2023
LIST OF FIGURES
1. Market Volume, In Physical Terms, 2012–2023
2. Market Value, 2012–2023
3. Market Structure – Domestic Supply vs. Imports, In Physical Terms, 2012-2023
4. Market Structure – Domestic Supply vs. Imports, In Value Terms, 2012-2023
5. Trade Balance, In Physical Terms, 2012-2023
6. Trade Balance, In Value Terms, 2012-2023
7. Per Capita Consumption, 2012-2023
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. Exports And Growth
16. Export Prices And Growth
17. Market Size And Growth
18. Per Capita Consumption
19. Imports And Growth
20. Import Prices
21. Production, In Physical Terms, 2012–2023
22. Production, In Value Terms, 2012–2023
23. Imports, In Physical Terms, 2012–2023
24. Imports, In Value Terms, 2012–2023
25. Imports, In Physical Terms, By Country, 2023
26. Imports, In Physical Terms, By Country, 2012–2023
27. Imports, In Value Terms, By Country, 2012–2023
28. Import Prices, By Country Of Origin, 2012–2023
29. Exports, In Physical Terms, 2012–2023
30. Exports, In Value Terms, 2012–2023
31. Exports, In Physical Terms, By Country, 2023
32. Exports, In Physical Terms, By Country, 2012–2023
33. Exports, In Value Terms, By Country, 2012–2023
34. Export Prices, By Country Of Destination, 2012–2023