Report Update Nov 1, 2024

Nigeria - Inedible Fish Products - Market Analysis, Forecast, Size, Trends and Insights

Single report

Sent by email within 24h (Mon-Fri)

$599 Basic Edition

$2095 Professional Edition

What's the difference?

Subscription

Online access and download

from $350/month

Get instant access to more than 2 million reports, dashboards, and datasets on the IndexBox Platform.

View Pricing

Nigeria: Inedible Fish Products Market 2024

Inedible Fish Products Market Size in Nigeria

The Nigerien inedible fish products market declined to $X in 2022, with a decrease of -6.1% against the previous year. Over the period under review, consumption, however, saw a modest increase. As a result, consumption attained the peak level of $X. From 2017 to 2022, the growth of the market remained at a lower figure.

Inedible Fish Products Production in Nigeria

In value terms, inedible fish products production reduced to $X in 2022 estimated in export price. Overall, production, however, recorded a relatively flat trend pattern. The most prominent rate of growth was recorded in 2016 when the production volume increased by 51%. As a result, production reached the peak level of $X. From 2017 to 2022, production growth failed to regain momentum.

Inedible Fish Products Exports

Exports from Nigeria

In 2022, overseas shipments of inedible fish products were finally on the rise to reach X kg after two years of decline. In general, exports posted a significant expansion. The most prominent rate of growth was recorded in 2013 with an increase of 124,780%. As a result, the exports attained the peak of X tons. From 2014 to 2022, the growth of the exports remained at a lower figure.

In value terms, inedible fish products exports rose significantly to $X in 2022. Overall, exports saw significant growth. The most prominent rate of growth was recorded in 2013 with an increase of 157,919% against the previous year. As a result, the exports reached the peak of $X. From 2014 to 2022, the growth of the exports remained at a lower figure.

Exports by Country

Ireland (X kg) was the main destination for inedible fish products exports from Nigeria, with a approx. 100% share of total exports.

From 2012 to 2022, the average annual rate of growth in terms of volume to Ireland amounted to +2.0%.

From 2012 to 2022, the average annual growth rate of value to Ireland totaled +24.2%.

Export Prices by Country

In 2022, the average inedible fish products export price amounted to $X per ton, with a decrease of -37.8% against the previous year. Overall, the export price, however, recorded measured growth. The most prominent rate of growth was recorded in 2021 an increase of 110% against the previous year. As a result, the export price attained the peak level of $X per ton, and then contracted significantly in the following year.

As there is only one major export destination, the average price level is determined by prices for Ireland.

From 2012 to 2022, the rate of growth in terms of prices for India amounted to +83.6% per year.

Inedible Fish Products Imports

Imports into Nigeria

In 2022, approx. X tons of inedible fish products were imported into Nigeria; jumping by 89% against 2021. Over the period under review, imports, however, continue to indicate a sharp descent. The growth pace was the most rapid in 2017 with an increase of 47,029%. Imports peaked at X tons in 2015; however, from 2016 to 2022, imports stood at a somewhat lower figure.

In value terms, inedible fish products imports surged to $X in 2022. In general, imports, however, continue to indicate a precipitous curtailment. The growth pace was the most rapid in 2017 when imports increased by 46,792% against the previous year. Imports peaked at $X in 2015; however, from 2016 to 2022, imports stood at a somewhat lower figure.

Imports by Country

In 2022, Iceland (X tons) was the main inedible fish products supplier to Nigeria, with a 96% share of total imports. It was followed by Belgium (X kg), with a 1.9% share of total imports. Italy (X kg) ranked third in terms of total imports with a 1.6% share.

From 2012 to 2022, the average annual growth rate of volume from Iceland totaled -32.2%. The remaining supplying countries recorded the following average annual rates of imports growth: Belgium (-42.5% per year) and Italy (-7.8% per year).

In value terms, Iceland ($X) constituted the largest supplier of inedible fish products to Nigeria, comprising 79% of total imports. The second position in the ranking was held by Italy ($X), with an 8.7% share of total imports. It was followed by Belgium, with a 7% share.

From 2012 to 2022, the average annual growth rate of value from Iceland stood at -37.5%. The remaining supplying countries recorded the following average annual rates of imports growth: Italy (-2.4% per year) and Belgium (-34.0% per year).

Import Prices by Country

In 2022, the average inedible fish products import price amounted to $X per ton, reducing by -7.4% against the previous year. Overall, the import price showed a abrupt descent. The pace of growth appeared the most rapid in 2020 when the average import price increased by 17%. The import price peaked at $X per ton in 2012; however, from 2013 to 2022, import prices failed to regain momentum.

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

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by the UK (+40.6%), 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 inedible fish products in the world?

The countries with the highest volumes of in 2021 were China, the United States and India, together comprising 40% of global consumption.

What are the largest producers of inedible fish products in the world?

The countries with the highest volumes of in 2021 were China, the United States and India, with a combined 40% share of global production.

What are the leading suppliers of inedible fish products to Nigeria?

In value terms, the largest inedible fish products suppliers to Nigeria were Belgium, Iceland and the UK, with a combined 72% share of total imports.

What is the average export price for inedible fish products in Nigeria?

In 2020, the average inedible fish products export price amounted to $542 per ton, which is down by -32.4% against the previous year.

What is the average import price for inedible fish products in Nigeria?

The average inedible fish products import price stood at $2,868 per ton in 2021, reducing by -8.6% against the previous year.

This report provides an in-depth analysis of the inedible fish products 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:

Prodcom 10204200 - Inedible fish products (including fish waste, excluding whalebone and whalebone hair, coral and similar materials, s hells and cuttle-bone, unworked or simply prepared/natural sponges)

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