Report Update Nov 1, 2024

Nigeria - Butter and Dairy Spreads - Market Analysis, Forecast, Size, Trends and Insights

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Nigeria: Market for Butter And Dairy Spreads 2024

Market Size for Butter And Dairy Spreads in Nigeria

In 2022, the Nigerien butter and dairy spreads market decreased by -56.7% to $X, falling for the second consecutive year after four years of growth. In general, consumption showed a deep downturn. As a result, consumption attained the peak level of $X. From 2021 to 2022, the growth of the market remained at a lower figure.

Exports of Butter And Dairy Spreads

Exports from Nigeria

In 2022, overseas shipments of butter and dairy spreads decreased by -7.7% to X tons for the first time since 2019, thus ending a two-year rising trend. Over the period under review, exports recorded a abrupt curtailment. The growth pace was the most rapid in 2021 when exports increased by 59% against the previous year. The exports peaked at X tons in 2016; however, from 2017 to 2022, the exports remained at a lower figure.

In value terms, butter and dairy spreads exports fell to $X in 2022. Overall, exports faced a drastic downturn. The most prominent rate of growth was recorded in 2015 with an increase of 51% against the previous year. The exports peaked at $X in 2016; however, from 2017 to 2022, the exports stood at a somewhat lower figure.

Exports by Country

Benin (X tons) and Niger (X tons) were the main destinations of butter and dairy spreads exports from Nigeria.

From 2012 to 2022, the biggest increases were recorded for Niger (with a CAGR of +42.7%).

In value terms, the largest markets for butter and dairy spreads exported from Nigeria were Niger ($X) and Benin ($X).

Niger, with a CAGR of +54.3%, saw the highest rates of growth with regard to the value of exports, in terms of the main countries of destination over the period under review.

Export Prices by Country

The average butter and dairy spreads export price stood at $X per ton in 2022, leveling off at the previous year. In general, the export price, however, continues to indicate a abrupt slump. The growth pace was the most rapid in 2015 when the average export price increased by 33% against the previous year. The export price peaked at $X per ton in 2017; however, from 2018 to 2022, the export prices stood at a somewhat lower figure.

There were significant differences in the average prices for the major export markets. In 2022, amid the top suppliers, the country with the highest price was Niger ($X per ton), while the average price for exports to Benin stood at $X per ton.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Togo (+36.2%), while the prices for the other major destinations experienced more modest paces of growth.

Imports of Butter And Dairy Spreads

Imports into Nigeria

In 2022, supplies from abroad of butter and dairy spreads decreased by -56.5% to X tons, falling for the second consecutive year after four years of growth. In general, imports saw a abrupt curtailment. The most prominent rate of growth was recorded in 2020 when imports increased by 184%. As a result, imports attained the peak of X tons. From 2021 to 2022, the growth of imports failed to regain momentum.

In value terms, butter and dairy spreads imports declined significantly to $X in 2022. Over the period under review, imports showed a deep reduction. The growth pace was the most rapid in 2020 when imports increased by 151%. As a result, imports attained the peak of $X. From 2021 to 2022, the growth of imports remained at a lower figure.

Imports by Country

In 2022, Malaysia (X tons) constituted the largest butter and dairy spreads supplier to Nigeria, with a 30% share of total imports. Moreover, butter and dairy spreads imports from Malaysia exceeded the figures recorded by the second-largest supplier, Indonesia (X tons), twofold. France (X tons) ranked third in terms of total imports with an 11% share.

From 2012 to 2022, the average annual rate of growth in terms of volume from Malaysia stood at +15.5%. The remaining supplying countries recorded the following average annual rates of imports growth: Indonesia (+0.4% per year) and France (-8.3% per year).

In value terms, Antigua and Barbuda ($X), France ($X) and New Zealand ($X) appeared to be the largest butter and dairy spreads suppliers to Nigeria, together comprising 50% of total imports. Denmark, Belgium, Indonesia, Malaysia, the UK, Germany, China, Ireland and the United Arab Emirates lagged somewhat behind, together comprising a further 35%.

In terms of the main suppliers, Belgium, with a CAGR of +9.8%, saw the highest rates of growth with regard to 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 2022, the average butter and dairy spreads import price amounted to $X per ton, approximately equating the previous year. Over the period under review, the import price recorded a relatively flat trend pattern. The most prominent rate of growth was recorded in 2014 when the average import price increased by 31%. Over the period under review, average import prices reached the peak figure at $X per ton in 2015; however, from 2016 to 2022, import prices remained at a lower figure.

There were significant differences in the average prices amongst the major supplying countries. In 2022, amid the top importers, the country with the highest price was New Zealand ($X per ton), while the price for Malaysia ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by New Zealand (+7.8%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

Frequently Asked Questions (FAQ) :

What are the largest markets for butter and dairy spreads in the world?

The countries with the highest volumes of butter and dairy spreads consumption in 2020 were India, the United States and Pakistan, with a combined 34% share of global consumption. Germany, France, Russia, Turkey, New Zealand, Iran, the UK, China, Canada and Egypt lagged somewhat behind, together comprising a further 37%.

What are the largest producers of butter and dairy spreads in the world?

The countries with the highest volumes of butter and dairy spreads production in 2020 were India, the United States and Pakistan, with a combined 34% share of global production. New Zealand, Germany, France, Ireland, Turkey, Russia, Iran, Poland, the UK and the Netherlands lagged somewhat behind, together accounting for a further 38%.

What are the leading suppliers of butter and dairy spreads to Nigeria?

In value terms, the largest butter and dairy spreads suppliers to Nigeria were France, Denmark and Indonesia, together accounting for 87% of total imports.

What are the leading importers of butter and dairy spreads from Nigeria?

In value terms, Benin emerged as the key foreign market for butter and dairy spreads exports from Nigeria, comprising 97% of total exports. The second position in the ranking was occupied by the United Arab Emirates $684), with a 2.5% share of total exports.

What is the average export price for butter and dairy spreads in Nigeria?

In 2020, the average butter and dairy spreads export price amounted to $3,986 per ton, picking up by 19% against the previous year.

What is the average import price for butter and dairy spreads in Nigeria?

The average butter and dairy spreads import price stood at $2,295 per ton in 2020, shrinking by -46.1% against the previous year.

This report provides an in-depth analysis of the market for butter and dairy spreads 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 983 - Butter and Ghee of Sheep Milk
FCL 1022 - Butter of Goat Milk
FCL 952 - Butter of Buffalo Milk
FCL 886 - Butter of Cow Milk

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, PRODUCING ANIMALS AND YIELD
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. 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, 2012–2023
23. Production, In Value Terms, 2012–2023
24. Producing Animals Slaughtered, 2012–2023
25. Yield, 2012–2023
26. Imports, In Physical Terms, 2012–2023
27. Imports, In Value Terms, 2012–2023
28. Imports, In Physical Terms, By Country, 2023
29. Imports, In Physical Terms, By Country, 2012–2023
30. Imports, In Value Terms, By Country, 2012–2023
31. Import Prices, By Country Of Origin, 2012–2023
32. Exports, In Physical Terms, 2012–2023
33. Exports, In Value Terms, 2012–2023
34. Exports, In Physical Terms, By Country, 2023
35. Exports, In Physical Terms, By Country, 2012–2023
36. Exports, In Value Terms, By Country, 2012–2023
37. Export Prices, By Country Of Destination, 2012–2023