Report Update Nov 1, 2024

Nigeria - Frozen Cuttlefishes - Market Analysis, Forecast, Size, Trends and Insights

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Nigeria: Frozen Cuttlefishes Market 2024

Frozen Cuttlefishes Market Size in Nigeria

The Nigerien frozen cuttlefishes market soared to $X in 2021, with an increase of 45% against the previous year. This figure reflects the total revenues of producers and importers (excluding logistics costs, retail marketing costs, and retailers' margins, which will be included in the final consumer price). Overall, consumption, however, continues to indicate a dramatic downturn. Frozen cuttlefishes consumption peaked at $X in 2012; however, from 2013 to 2021, consumption failed to regain momentum.

Frozen Cuttlefishes Exports

Exports from Nigeria

In 2021, overseas shipments of frozen cuttlefishes decreased by -23.4% to X kg, falling for the third consecutive year after two years of growth. Over the period under review, exports continue to indicate a precipitous descent. The growth pace was the most rapid in 2018 when exports increased by 33%. Over the period under review, the exports hit record highs at X tons in 2014; however, from 2015 to 2021, the exports remained at a lower figure.

In value terms, frozen cuttlefishes exports skyrocketed to $X in 2021. In general, exports faced a sharp descent. The exports peaked at $X in 2014; however, from 2015 to 2021, the exports stood at a somewhat lower figure.

Exports by Country

The Netherlands (X kg) was the main destination for frozen cuttlefishes exports from Nigeria, with a 67% share of total exports. Moreover, frozen cuttlefishes exports to the Netherlands exceeded the volume sent to the second major destination, France (X kg), twofold. The third position in this ranking was taken by Spain (X kg), with a 3.3% share.

From 2012 to 2021, the average annual rate of growth in terms of volume to the Netherlands stood at -40.4%. Exports to the other major destinations recorded the following average annual rates of exports growth: France (-25.1% per year) and Spain (-40.6% per year).

In value terms, the largest markets for frozen cuttlefishes exported from Nigeria were France ($X), the Netherlands ($X) and Spain ($X), together accounting for 99% of total exports.

France, with a CAGR of -15.8%, saw the highest rates of growth with regard to 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 frozen cuttlefishes export price amounted to $X per ton, jumping by 183% against the previous year. Overall, the export price, however, saw a relatively flat trend pattern. Over the period under review, the average export prices hit record highs at $X per ton in 2017; however, from 2018 to 2021, the export prices remained at a lower figure.

Prices varied noticeably country of destination: the country with the highest price was France ($X per ton), while the average price for exports to the Netherlands ($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 France (+12.4%), while the prices for the other major destinations experienced a decline.

Frozen Cuttlefishes Imports

Imports into Nigeria

In 2021, supplies from abroad of frozen cuttlefishes decreased by -8.6% to X kg, falling for the second year in a row after two years of growth. Overall, imports recorded a significant contraction. The most prominent rate of growth was recorded in 2018 with an increase of 588%. Over the period under review, imports hit record highs at X tons in 2013; however, from 2014 to 2021, imports failed to regain momentum.

In value terms, frozen cuttlefishes imports expanded significantly to $X in 2021. Over the period under review, imports showed a sharp shrinkage. The most prominent rate of growth was recorded in 2018 when imports increased by 878% against the previous year. Over the period under review, imports reached the maximum at $X in 2013; however, from 2014 to 2021, imports failed to regain momentum.

Imports by Country

Italy (X kg), China (X kg) and Vietnam (X kg) were the main suppliers of frozen cuttlefishes imports to Nigeria, together comprising 79% of total imports.

From 2012 to 2021, the biggest increases were recorded for China (with a CAGR of -3.7%), while purchases for the other leaders experienced a decline.

In value terms, Vietnam ($X), South Africa ($X) and Italy ($X) appeared to be the largest frozen cuttlefishes suppliers to Nigeria, together comprising 69% of total imports.

South Africa, with a CAGR of +0.5%, recorded the highest growth rate of the value of imports, among the main suppliers over the period under review, while purchases for the other leaders experienced a decline.

Import Prices by Country

The average frozen cuttlefishes import price stood at $X per ton in 2021, with an increase of 23% against the previous year. Over the period under review, the import price showed strong growth. The pace of growth was the most pronounced in 2018 an increase of 42%. Over the period under review, average import prices hit record highs in 2021 and is expected to retain growth in the immediate term.

Prices varied noticeably country of origin: the country with the highest price was South Africa ($X per ton), while the price for China ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Argentina (+78.3%), 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 frozen cuttlefishes in the world?

The countries with the highest volumes of frozen cuttlefishes consumption in 2020 were Peru, Indonesia and India, with a combined 59% share of global consumption. Spain, Democratic People's Republic of Korea, New Zealand and Thailand lagged somewhat behind, together accounting for a further 25%.

What are the largest producers of frozen cuttlefishes in the world?

The countries with the highest volumes of frozen cuttlefishes production in 2020 were Peru, Indonesia and India, with a combined 63% share of global production.

What are the leading suppliers of frozen cuttlefishes to Nigeria?

In value terms, Argentina constituted the largest supplier of frozen cuttlefishes to Nigeria.

What are the leading importers of frozen cuttlefishes from Nigeria?

In value terms, the Netherlands $604) remains the key foreign market for frozen cuttlefishes exports from Nigeria, comprising 94% of total exports. The second position in the ranking was occupied by France $30), with a 4.7% share of total exports.

What is the average export price for frozen cuttlefishes in Nigeria?

In 2020, the average frozen cuttlefishes export price amounted to $1,054 per ton, declining by -48.8% against the previous year.

What is the average import price for frozen cuttlefishes in Nigeria?

The average frozen cuttlefishes import price stood at $663 per ton in 2020, shrinking by -88.6% against the previous year.

This report provides an in-depth analysis of the frozen cuttlefishes 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:

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