Report Update Nov 1, 2024

Nigeria - Lard and Other Pig Fat (Rendered) - Market Analysis, Forecast, Size, Trends and Insights

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Nigeria: Rendered Pig Fat Market 2024

Rendered Pig Fat Market Size in Nigeria

In 2021, after two years of growth, there was decline in the Nigerien rendered pig fat market, when its value decreased by -4.8% to $X. Over the period under review, consumption recorded a abrupt decrease. Over the period under review, the market reached the peak level at $X in 2012; however, from 2013 to 2021, consumption stood at a somewhat lower figure.

Rendered Pig Fat Production in Nigeria

In value terms, rendered pig fat production contracted slightly to $X in 2021 estimated in export price. Over the period under review, production, however, saw modest growth. The most prominent rate of growth was recorded in 2017 with an increase of 6.5%. Rendered pig fat production peaked at $X in 2020, and then fell slightly in the following year.

Rendered Pig Fat Exports

Exports by Country

The United States (X tons) was the main destination for rendered pig fat exports from Nigeria, with a 96% share of total exports. Moreover, rendered pig fat exports to the United States exceeded the volume sent to the second major destination, Niger (X kg), more than tenfold.

From 2018 to 2018, the average annual growth rate of volume to the United States was relatively modest.

From 2018 to 2018, the average annual rate of growth in terms of value to the United States was relatively modest.

Rendered Pig Fat Imports

Imports into Nigeria

In 2021, rendered pig fat imports into Nigeria fell notably to X tons, with a decrease of -20% on the year before. Over the period under review, imports recorded a sharp downturn. The growth pace was the most rapid in 2019 with an increase of 91% against the previous year. Over the period under review, imports reached the peak figure at X tons in 2012; however, from 2013 to 2021, imports failed to regain momentum.

In value terms, rendered pig fat imports fell remarkably to $X in 2021. In general, imports showed a dramatic decrease. The pace of growth appeared the most rapid in 2019 with an increase of 87% against the previous year. Imports peaked at $X in 2012; however, from 2013 to 2021, imports stood at a somewhat lower figure.

Imports by Country

In 2019, the UK (X tons) constituted the largest rendered pig fat supplier to Nigeria, accounting for a 72% share of total imports. Moreover, rendered pig fat imports from the UK exceeded the figures recorded by the second-largest supplier, Japan (X tons), threefold.

From 2015 to 2019, the average annual rate of growth in terms of volume from the UK was relatively modest.

In value terms, the UK ($X) constituted the largest supplier of lard and other pig fat (rendered) to Nigeria, comprising 98% of total imports. The second position in the ranking was held by Japan ($X), with a 1.7% share of total imports.

From 2015 to 2019, the average annual growth rate of value from the UK was relatively modest.

Import Prices by Country

The average rendered pig fat import price stood at $X per ton in 2019, shrinking by -2% against the previous year. Over the period under review, the import price, however, posted a strong increase. The growth pace was the most rapid in 2018 an increase of 94%. As a result, import price attained the peak level of $X per ton, and then declined modestly in the following year.

Prices varied noticeably country of origin: the country with the highest price was the UK ($X per ton), while the price for Japan amounted to $X per ton.

From 2015 to 2019, the most notable rate of growth in terms of prices was attained by the Netherlands (-38.8%).

Source: IndexBox Platform

Frequently Asked Questions (FAQ) :

What are the largest markets for lard and other pig fat (rendered) in the world?

Spain remains the largest rendered pig fat consuming country worldwide, comprising approx. 34% of total volume. Moreover, rendered pig fat consumption in Spain exceeded the figures recorded by the second-largest consumer, Germany, threefold. The third position in this ranking was occupied by the Netherlands, with a 10% share.

What are the largest producers of lard and other pig fat (rendered) in the world?

The countries with the highest volumes of rendered pig fat production in 2020 were the United States, Spain and Germany, together accounting for 60% of global production. These countries were followed by the Netherlands, France, Poland, Italy, Belgium, Denmark, Canada and Sweden, which together accounted for a further 35%.

What are the leading suppliers of lard and other pig fat (rendered) to Nigeria?

In value terms, China constituted the largest supplier of rendered pig fat to Nigeria.

What is the average export price for lard and other pig fat (rendered) in Nigeria?

In 2018, the average rendered pig fat export price amounted to $1,862 per ton, standing approx. at the previous year.

What is the average import price for lard and other pig fat (rendered) in Nigeria?

In 2015, the average rendered pig fat import price amounted to $703 per ton, flattening at the previous year.

This report provides an in-depth analysis of the rendered pig fat 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 10115060 - Lard and other pig fat, rendered

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