Nigeria: Cheese And Curd Market 2024

Cheese And Curd Market Size in Nigeria

In 2022, the Nigerien cheese and curd market decreased by -1.3% to $X, falling for the fourth consecutive year after two years of growth. Over the period under review, consumption, however, recorded a perceptible descent. As a result, consumption attained the peak level of $X. From 2019 to 2022, the growth of the market remained at a somewhat lower figure.

Cheese And Curd Production in Nigeria

In value terms, cheese and curd production contracted to $X in 2022 estimated in export price. Over the period under review, production, however, recorded a abrupt shrinkage. The most prominent rate of growth was recorded in 2018 when the production volume increased by 100% against the previous year. As a result, production reached the peak level of $X. From 2019 to 2022, production growth failed to regain momentum.

Cheese And Curd Exports

Exports from Nigeria

In 2022, after three years of decline, there was significant growth in overseas shipments of cheese and curd, when their volume increased by 30% to X kg. In general, exports, however, saw a dramatic slump. The most prominent rate of growth was recorded in 2018 when exports increased by 297%. The exports peaked at X tons in 2012; however, from 2013 to 2022, the exports stood at a somewhat lower figure.

In value terms, cheese and curd exports soared to $X in 2022. Overall, exports, however, recorded a significant contraction. The most prominent rate of growth was recorded in 2018 with an increase of 1,596% against the previous year. Over the period under review, the exports reached the peak figure at $X in 2013; however, from 2014 to 2022, the exports failed to regain momentum.

Exports by Country

Benin (X kg) was the main destination for cheese and curd exports from Nigeria, with a 75% share of total exports. Moreover, cheese and curd exports to Benin exceeded the volume sent to the second major destination, Cote d'Ivoire (X kg), threefold.

From 2012 to 2022, the average annual rate of growth in terms of volume to Benin totaled -23.3%. Exports to the other major destinations recorded the following average annual rates of exports growth: Cote d'Ivoire (-14.5% per year) and the United Arab Emirates (-31.8% per year).

In value terms, Cote d'Ivoire ($X), Benin ($X) and the United Arab Emirates ($X) were the largest markets for cheese and curd exported from Nigeria worldwide.

Cote d'Ivoire, with a CAGR of -11.3%, recorded the highest growth rate of the value of exports, in terms of the main countries of destination over the period under review, while shipments for the other leaders experienced a decline.

Export Prices by Country

The average cheese and curd export price stood at $X per ton in 2022, surging by 28% against the previous year. In general, the export price, however, saw a relatively flat trend pattern. The most prominent rate of growth was recorded in 2018 when the average export price increased by 328% against the previous year. As a result, the export price reached the peak level of $X per ton. From 2019 to 2022, the average export prices remained at a lower figure.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Cote d'Ivoire ($X per ton), while the average price for exports to Benin ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Cote d'Ivoire (+3.7%), while the prices for the other major destinations experienced mixed trend patterns.

Cheese And Curd Imports

Imports into Nigeria

In 2022, approx. X tons of cheese and curd were imported into Nigeria; picking up by 16% on the previous year. Over the period under review, imports recorded a remarkable increase. The pace of growth appeared the most rapid in 2018 with an increase of 62%. Over the period under review, imports hit record highs at X tons in 2020; however, from 2021 to 2022, imports stood at a somewhat lower figure.

In value terms, cheese and curd imports surged to $X in 2022. Overall, imports showed a strong expansion. The pace of growth appeared the most rapid in 2016 when imports increased by 75%. Over the period under review, imports attained the peak figure at $X in 2020; however, from 2021 to 2022, imports remained at a lower figure.

Imports by Country

France (X tons), Lebanon (X tons) and Australia (X tons) were the main suppliers of cheese and curd imports to Nigeria, together accounting for 30% of total imports. Belgium, Turkey, Denmark, the Netherlands, Italy, the United States, China, Morocco and Germany lagged somewhat behind, together accounting for a further 21%.

From 2012 to 2022, the biggest increases were recorded for Turkey (with a CAGR of +55.3%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, France ($X) constituted the largest supplier of cheese and curd to Nigeria, comprising 15% of total imports. The second position in the ranking was held by Belgium ($X), with a 4.7% share of total imports. It was followed by the Netherlands, with a 4.6% share.

From 2012 to 2022, the average annual rate of growth in terms of value from France stood at +18.0%. The remaining supplying countries recorded the following average annual rates of imports growth: Belgium (+16.2% per year) and the Netherlands (+19.2% per year).

Import Prices by Country

The average cheese and curd import price stood at $X per ton in 2022, picking up by 12% against the previous year. Over the period from 2012 to 2022, it increased at an average annual rate of +4.1%. The pace of growth appeared the most rapid in 2014 when the average import price increased by 48%. As a result, import price attained the peak level of $X per ton. From 2015 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 the Netherlands ($X per ton), while the price for Lebanon ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Germany (+11.2%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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