Nigeria: Natural Cork Stopper Market 2025

Natural Cork Stopper Market Size in Nigeria

The Nigerien natural cork stopper market totaled $X in 2022, surging by 3.1% against the previous year. Overall, consumption, however, continues to indicate a relatively flat trend pattern. Natural cork stopper consumption peaked at $X in 2020; however, from 2021 to 2022, consumption stood at a somewhat lower figure.

Natural Cork Stopper Production in Nigeria

In value terms, natural cork stopper production stood at $X in 2022 estimated in export price. Over the period under review, production, however, continues to indicate a relatively flat trend pattern. The growth pace was the most rapid in 2016 with an increase of 46%. Over the period under review, production hit record highs at $X in 2013; however, from 2014 to 2022, production stood at a somewhat lower figure.

Natural Cork Stopper Exports

Exports from Nigeria

In 2022, shipments abroad of corks and stoppers of natural cork increased by 15% to X kg, rising for the third year in a row after four years of decline. Over the period under review, exports saw a significant expansion. The pace of growth was the most pronounced in 2013 with an increase of 400%. The exports peaked at X kg in 2015; however, from 2016 to 2022, the exports failed to regain momentum.

In value terms, natural cork stopper exports reduced sharply to $X in 2022. Overall, exports enjoyed a significant increase. The pace of growth was the most pronounced in 2013 when exports increased by 3,388% against the previous year. As a result, the exports attained the peak of $X. From 2014 to 2022, the growth of the exports remained at a lower figure.

Exports by Country

Niger (X kg), South Africa (X kg) and Ghana (X kg) were the main destinations of natural cork stopper exports from Nigeria.

From 2012 to 2022, the biggest increases were recorded for South Africa (with a CAGR of +14.9%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, South Africa ($X) remains the key foreign market for corks and stoppers of natural cork exports from Nigeria, comprising 79% of total exports. The second position in the ranking was taken by Niger ($X), with a 20% share of total exports.

From 2012 to 2022, the average annual growth rate of value to South Africa amounted to +37.0%. Exports to the other major destinations recorded the following average annual rates of exports growth: Niger (0.0% per year) and Ghana (-9.3% per year).

Export Prices by Country

The average natural cork stopper export price stood at $X per ton in 2022, shrinking by -40.2% against the previous year. In general, the export price, however, posted a remarkable increase. The pace of growth was the most pronounced in 2013 an increase of 598%. As a result, the export price reached the peak level of $X per ton. From 2014 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 South Africa ($X per ton), while the average price for exports to Niger ($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 South Africa (+19.2%).

Natural Cork Stopper Imports

Imports into Nigeria

In 2022, supplies from abroad of corks and stoppers of natural cork decreased by -2.2% to X tons, falling for the second year in a row after two years of growth. Over the period under review, imports, however, continue to indicate a significant expansion. The pace of growth was the most pronounced in 2013 with an increase of 7,463% against the previous year. Over the period under review, imports attained the peak figure at X tons in 2020; however, from 2021 to 2022, imports stood at a somewhat lower figure.

In value terms, natural cork stopper imports dropped markedly to $X in 2022. In general, imports, however, showed significant growth. The most prominent rate of growth was recorded in 2013 when imports increased by 10,684% against the previous year. As a result, imports reached the peak of $X. From 2014 to 2022, the growth of imports failed to regain momentum.

Imports by Country

China (X tons), South Africa (X tons) and Slovenia (X tons) were the main suppliers of natural cork stopper imports to Nigeria, together comprising 83% of total imports. Italy, Spain, the United States and India lagged somewhat behind, together accounting for a further 13%.

From 2012 to 2022, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by Italy (with a CAGR of +52.0%), while imports for the other leaders experienced more modest paces of growth.

In value terms, the largest natural cork stopper suppliers to Nigeria were China ($X), Slovenia ($X) and South Africa ($X), together accounting for 57% of total imports.

Among the main suppliers, South Africa, with a CAGR of +60.9%, 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

The average natural cork stopper import price stood at $X per ton in 2022, shrinking by -42.5% against the previous year. Over the period under review, the import price continues to indicate a pronounced reduction. The pace of growth was the most pronounced in 2021 an increase of 204%. Over the period under review, average import prices reached the maximum at $X per ton in 2015; however, from 2016 to 2022, import prices stood at a somewhat 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 India ($X per ton), while the price for South Africa ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by India (+12.8%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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