Nigeria: Market for Colouring Matter Of Vegetable Or Animal Origin 2024

Market Size for Colouring Matter Of Vegetable Or Animal Origin in Nigeria

In 2021, the Nigerien market for colouring matter of vegetable or animal origin decreased by -2.9% to $X for the first time since 2017, thus ending a three-year rising trend. Overall, consumption showed a buoyant expansion. Over the period under review, the market attained the peak level at $X in 2020, and then contracted in the following year.

Production of Colouring Matter Of Vegetable Or Animal Origin in Nigeria

In value terms, vegetable or animal colouring matter production declined to $X in 2021 estimated in export price. In general, production posted a strong expansion. The most prominent rate of growth was recorded in 2016 with an increase of 96%. Over the period under review, production attained the peak level at $X in 2020, and then fell in the following year.

Exports of Colouring Matter Of Vegetable Or Animal Origin

Exports from Nigeria

In 2021, approx. X tons of colouring matter of vegetable or animal origin were exported from Nigeria; shrinking by -96.1% compared with 2020. In general, exports continue to indicate a perceptible shrinkage. The most prominent rate of growth was recorded in 2020 with an increase of 7,143%. As a result, the exports reached the peak of X tons, and then declined dramatically in the following year.

In value terms, vegetable or animal colouring matter exports dropped dramatically to $X in 2021. Over the period under review, exports continue to indicate a noticeable contraction. The most prominent rate of growth was recorded in 2020 when exports increased by 1,952% against the previous year. As a result, the exports reached the peak of $X, and then reduced sharply in the following year.

Exports by Country

Niger (X tons), Mali (X tons) and Cameroon (X kg) were the main destinations of vegetable or animal colouring matter exports from Nigeria, with a combined 69% share of total exports. These countries were followed by Ghana, Benin and Zimbabwe, which together accounted for a further 30%.

From 2012 to 2021, the biggest increases were recorded for Zimbabwe (with a CAGR of +15.5%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, the largest markets for vegetable or animal colouring matter exported from Nigeria were Cameroon ($X), Mali ($X) and Niger ($X), with a combined 71% share of total exports. Ghana, Benin and Zimbabwe lagged somewhat behind, together accounting for a further 4.3%.

Among the main countries of destination, Zimbabwe, with a CAGR of +15.2%, saw the highest rates of growth with regard to the value of exports, over the period under review, while shipments for the other leaders experienced mixed trend patterns.

Export Prices by Country

In 2021, the average export price for colouring matter of vegetable or animal origin amounted to $X per ton, rising by 381% against the previous year. Overall, the export price recorded a modest increase. The export price peaked at $X per ton in 2013; however, from 2014 to 2021, the export prices failed to regain momentum.

There were significant differences in the average prices for the major export markets. In 2021, amid the top suppliers, the country with the highest price was Cameroon ($X per ton), while the average price for exports to Benin ($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 Zimbabwe (-0.6%), while the prices for the other major destinations experienced a decline.

Imports of Colouring Matter Of Vegetable Or Animal Origin

Imports into Nigeria

In 2021, vegetable or animal colouring matter imports into Nigeria dropped to X tons, which is down by -9.6% against 2020. Overall, imports, however, recorded perceptible growth. The pace of growth was the most pronounced in 2019 when imports increased by 189%. Over the period under review, imports hit record highs at X tons in 2017; however, from 2018 to 2021, imports stood at a somewhat lower figure.

In value terms, vegetable or animal colouring matter imports shrank to $X in 2021. In general, imports, however, continue to indicate noticeable growth. The pace of growth was the most pronounced in 2019 with an increase of 186%. Imports peaked at $X in 2014; however, from 2015 to 2021, imports failed to regain momentum.

Imports by Country

India (X tons), the United Arab Emirates (X tons) and the Netherlands (X tons) were the main suppliers of vegetable or animal colouring matter imports to Nigeria, together comprising 46% of total imports. These countries were followed by China, Pakistan, Peru, the UK, Spain and Denmark, which together accounted for a further 20%.

From 2012 to 2021, the biggest increases were recorded for China (with a CAGR of +37.8%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, India ($X), Peru ($X) and the UK ($X) appeared to be the largest vegetable or animal colouring matter suppliers to Nigeria, together accounting for 47% of total imports.

India, with a CAGR of +28.8%, 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

The average import price for colouring matter of vegetable or animal origin stood at $X per ton in 2021, which is down by -4.2% against the previous year. Overall, the import price, however, recorded a relatively flat trend pattern. The pace of growth was the most pronounced in 2018 when the average import price increased by 265%. As a result, import price reached the peak level of $X per ton. From 2019 to 2021, 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 Peru ($X per ton), while the price for the United Arab Emirates ($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 (+5.0%), while the prices for the other major suppliers experienced mixed trend patterns.

Source: IndexBox Platform

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