Nigeria: Gloves Market 2024

Gloves Market Size in Nigeria

The Nigerien gloves market expanded rapidly to $X in 2022, rising by 12% against the previous year. In general, consumption showed resilient growth. Gloves consumption peaked in 2022 and is likely to see gradual growth in years to come.

Gloves Production in Nigeria

In value terms, gloves production expanded to $X in 2022 estimated in export price. Overall, production recorded a resilient increase. The most prominent rate of growth was recorded in 2016 with an increase of 55%. Over the period under review, production hit record highs at $X in 2020; however, from 2021 to 2022, production stood at a somewhat lower figure.

Gloves Exports

Exports from Nigeria

Gloves exports from Nigeria reached X pairs in 2022, growing by 2% against the previous year's figure. Over the period under review, exports, however, saw a pronounced reduction. The pace of growth was the most pronounced in 2016 when exports increased by 88% against the previous year. The exports peaked at X pairs in 2018; however, from 2019 to 2022, the exports remained at a lower figure.

In value terms, gloves exports declined rapidly to $X in 2022. Overall, exports saw a pronounced increase. The most prominent rate of growth was recorded in 2021 when exports increased by 118%. As a result, the exports reached the peak of $X, and then plummeted in the following year.

Exports by Country

Ghana (X pairs) was the main destination for gloves exports from Nigeria, accounting for a 5.1% share of total exports. Moreover, gloves exports to Ghana exceeded the volume sent to the second major destination, Senegal (X pairs), fourfold. The third position in this ranking was held by Niger (X pairs), with a 1.2% share.

From 2012 to 2021, the average annual growth rate of volume to Ghana amounted to +33.0%. Exports to the other major destinations recorded the following average annual rates of exports growth: Senegal (0.0% per year) and Niger (-26.2% per year).

In value terms, Senegal ($X) emerged as the key foreign market for gloves, mittens and mitts (excluding knitted or crocheted) exports from Nigeria, comprising 24% of total exports. The second position in the ranking was taken by Cote d'Ivoire ($X), with an 8.1% share of total exports. It was followed by Ghana, with a 2.3% share.

From 2012 to 2021, the average annual rate of growth in terms of value to Senegal was relatively modest. Exports to the other major destinations recorded the following average annual rates of exports growth: Cote d'Ivoire (-16.7% per year) and Ghana (+2.4% per year).

Export Prices by Country

In 2021, the average gloves export price amounted to $X per pair, growing by 127% against the previous year. Overall, the export price continues to indicate a remarkable increase. As a result, the export price reached the peak level and is likely to continue growth in the immediate term.

There were significant differences in the average prices for the major external markets. In 2021, amid the top suppliers, the country with the highest price was Senegal ($X per pair), while the average price for exports to Ghana ($X per pair) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to Niger (+11.5%), while the prices for the other major destinations experienced mixed trend patterns.

Gloves Imports

Imports into Nigeria

In 2022, gloves imports into Nigeria soared to X pairs, picking up by 141% compared with the year before. Over the period under review, imports recorded a significant expansion. The growth pace was the most rapid in 2018 with an increase of 3,359% against the previous year. Over the period under review, imports hit record highs in 2022 and are expected to retain growth in the near future.

In value terms, gloves imports rose rapidly to $X in 2022. In general, imports posted a mild expansion. The growth pace was the most rapid in 2018 with an increase of 194%. Over the period under review, imports attained the maximum at $X in 2020; however, from 2021 to 2022, imports failed to regain momentum.

Imports by Country

Thailand (X pairs), China (X pairs) and Malaysia (X pairs) were the main suppliers of gloves imports to Nigeria, with a combined 1.8% share of total imports.

From 2012 to 2021, the biggest increases were recorded for Thailand (with a CAGR of +172.8%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, Malaysia ($X), Thailand ($X) and China ($X) were the largest gloves suppliers to Nigeria, together comprising 71% of total imports.

Thailand, with a CAGR of +230.0%, 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

In 2021, the average gloves import price amounted to $X per pair, declining by -74.5% against the previous year. Over the period under review, the import price continues to indicate a abrupt decrease. The pace of growth appeared the most rapid in 2014 when the average import price increased by 632%. Over the period under review, average import prices hit record highs at $X per pair in 2016; however, from 2017 to 2021, import prices failed to regain momentum.

There were significant differences in the average prices amongst the major supplying countries. In 2021, amid the top importers, the country with the highest price was the United States ($X per pair), while the price for Japan ($X per pair) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Hong Kong SAR (+39.4%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

Frequently Asked Questions (FAQ) :