Nigeria: Market for Prepared Dishes And Meals 2024

Market Size for Prepared Dishes And Meals in Nigeria

In 2021, after three years of growth, there was significant decline in the Nigerien prepared dish and meal market, when its value decreased by -32.8% to $X. In general, consumption, however, showed resilient growth. As a result, consumption attained the peak level of $X, and then contracted markedly in the following year.

Exports of Prepared Dishes And Meals

Exports from Nigeria

In 2021, exports of prepared dishes and meals from Nigeria skyrocketed to X tons, jumping by 946% on the previous year. Overall, exports enjoyed a significant increase. The pace of growth appeared the most rapid in 2018 with an increase of 2,841%. Over the period under review, the exports reached the peak figure in 2021 and are likely to see gradual growth in years to come.

In value terms, prepared dish and meal exports skyrocketed to $X in 2021. Over the period under review, exports continue to indicate a significant expansion. The most prominent rate of growth was recorded in 2013 when exports increased by 2,827%. Over the period under review, the exports hit record highs in 2021 and are likely to see steady growth in years to come.

Exports by Country

The United States (X tons) was the main destination for prepared dish and meal exports from Nigeria, accounting for a 48% share of total exports. Moreover, prepared dish and meal exports to the United States exceeded the volume sent to the second major destination, the United Arab Emirates (X tons), threefold. The third position in this ranking was taken by the UK (X tons), with an 11% share.

From 2012 to 2021, the average annual rate of growth in terms of volume to the United States totaled +94.2%. Exports to the other major destinations recorded the following average annual rates of exports growth: the United Arab Emirates (+57.8% per year) and the UK (+114.6% per year).

In value terms, Chad ($X) emerged as the key foreign market for prepared dishes and meals exports from Nigeria, comprising 46% of total exports. The second position in the ranking was taken by the United States ($X), with a 19% share of total exports. It was followed by the United Arab Emirates, with a 15% share.

From 2012 to 2021, the average annual rate of growth in terms of value to Chad was relatively modest. Exports to the other major destinations recorded the following average annual rates of exports growth: the United States (+67.5% per year) and the United Arab Emirates (+49.6% per year).

Export Prices by Country

The average prepared dish and meal export price stood at $X per ton in 2021, growing by 67% against the previous year. Overall, the export price, however, recorded a perceptible setback. The most prominent rate of growth was recorded in 2013 an increase of 203% against the previous year. As a result, the export price attained the peak level of $X per ton. From 2014 to 2021, the average export prices remained at a lower figure.

There were significant differences in the average prices for the major foreign markets. In 2021, amid the top suppliers, the country with the highest price was Chad ($X per ton), while the average price for exports to the Netherlands ($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 Italy (+57.9%), while the prices for the other major destinations experienced a decline.

Imports of Prepared Dishes And Meals

Imports into Nigeria

After three years of growth, supplies from abroad of prepared dishes and meals decreased by -26.9% to X tons in 2021. Overall, imports, however, enjoyed strong growth. The pace of growth was the most pronounced in 2020 with an increase of 129% against the previous year. As a result, imports reached the peak of X tons, and then fell significantly in the following year.

In value terms, prepared dish and meal imports contracted remarkably to $X in 2021. Over the period under review, imports, however, showed strong growth. The pace of growth was the most pronounced in 2020 with an increase of 138% against the previous year. As a result, imports reached the peak of $X, and then dropped significantly in the following year.

Imports by Country

China (X tons), India (X tons) and Germany (X tons) were the main suppliers of prepared dish and meal imports to Nigeria, together accounting for 52% of total imports. The UK, Malaysia, the Netherlands, Denmark, Indonesia, South Africa, Thailand, France, the United States and Italy lagged somewhat behind, together accounting for a further 41%.

From 2012 to 2021, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by Denmark (with a CAGR of +68.9%), while imports for the other leaders experienced more modest paces of growth.

In value terms, Germany ($X), China ($X) and the United States ($X) were the largest prepared dish and meal suppliers to Nigeria, together accounting for 43% of total imports. These countries were followed by India, the Netherlands, France, Malaysia, the UK, South Africa, Denmark, Italy, Thailand and Indonesia, which together accounted for a further 47%.

Denmark, with a CAGR of +50.0%, saw 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 more modest paces of growth.

Import Prices by Country

The average prepared dish and meal import price stood at $X per ton in 2021, shrinking by -12.9% against the previous year. Over the period under review, the import price, however, continues to indicate a relatively flat trend pattern. The growth pace was the most rapid in 2013 an increase of 37% against the previous year. Over the period under review, average import prices hit record highs at $X per ton in 2015; however, from 2016 to 2021, import prices stood at a somewhat lower figure.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was the United States ($X per ton), while the price for Indonesia ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by the United States (+18.9%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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