
Nigeria - Margarine and Shortening - Market Analysis, Forecast, Size, Trends and Insights
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View PricingNigeria: Margarine And Shortening Market 2025
Margarine And Shortening Market Size in Nigeria
In 2022, the Nigerien margarine and shortening market increased by 2.4% to $X, rising for the sixth year in a row after two years of decline. Overall, consumption saw a strong expansion. Margarine and shortening consumption peaked in 2022 and is likely to see gradual growth in the near future.
Margarine And Shortening Exports
Exports from Nigeria
In 2022, after two years of growth, there was decline in overseas shipments of margarine and shortening, when their volume decreased by -0.1% to X tons. Over the period under review, exports, however, saw a significant expansion. The pace of growth appeared the most rapid in 2017 when exports increased by 234% against the previous year. The exports peaked at X tons in 2021, and then contracted modestly in the following year.
In value terms, margarine and shortening exports expanded rapidly to $X in 2022. In general, exports, however, enjoyed a significant expansion. The growth pace was the most rapid in 2020 with an increase of 260% against the previous year. As a result, the exports attained the peak of $X. From 2021 to 2022, the growth of the exports remained at a lower figure.
Exports by Country
The United States (X tons) was the main destination for margarine and shortening exports from Nigeria, with a 53% share of total exports. Moreover, margarine and shortening exports to the United States exceeded the volume sent to the second major destination, Benin (X tons), twofold. The third position in this ranking was taken by the Netherlands (X tons), with a 16% share.
From 2012 to 2022, the average annual rate of growth in terms of volume to the United States totaled +51.1%. Exports to the other major destinations recorded the following average annual rates of exports growth: Benin (+159.3% per year) and the Netherlands (+52.8% per year).
In value terms, the United States ($X) remains the key foreign market for margarine and shortening exports from Nigeria, comprising 59% of total exports. The second position in the ranking was taken by the Netherlands ($X), with an 18% share of total exports. It was followed by Benin, with a 2% share.
From 2012 to 2022, the average annual rate of growth in terms of value to the United States totaled +42.6%. Exports to the other major destinations recorded the following average annual rates of exports growth: the Netherlands (+41.1% per year) and Benin (+118.2% per year).
Export Prices by Country
The average margarine and shortening export price stood at $X per ton in 2022, growing by 13% against the previous year. Over the period under review, the export price, however, continues to indicate a perceptible slump. The most prominent rate of growth was recorded in 2016 when the average export price increased by 48%. The export price peaked at $X per ton in 2013; however, from 2014 to 2022, the export prices remained at a lower figure.
There were significant differences in the average prices for the major overseas markets. In 2022, amid the top suppliers, the country with the highest price was Ghana ($X per ton), while the average price for exports to Benin ($X per ton) was amongst the lowest.
From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Burkina Faso (+44.6%), while the prices for the other major destinations experienced a decline.
Margarine And Shortening Imports
Imports into Nigeria
For the third consecutive year, Nigeria recorded growth in supplies from abroad of margarine and shortening, which increased by 4.9% to X tons in 2022. Overall, imports continue to indicate a resilient expansion. The most prominent rate of growth was recorded in 2021 when imports increased by 283% against the previous year. Over the period under review, imports hit record highs in 2022 and are expected to retain growth in the immediate term.
In value terms, margarine and shortening imports shrank to $X in 2022. Over the period under review, imports saw a remarkable increase. The most prominent rate of growth was recorded in 2021 with an increase of 359%. As a result, imports attained the peak of $X, and then reduced in the following year.
Imports by Country
In 2022, Indonesia (X tons) constituted the largest margarine and shortening supplier to Nigeria, with a 65% share of total imports. Moreover, margarine and shortening imports from Indonesia exceeded the figures recorded by the second-largest supplier, Denmark (X tons), fivefold. The United Arab Emirates (X tons) ranked third in terms of total imports with a 7.9% share.
From 2012 to 2022, the average annual rate of growth in terms of volume from Indonesia stood at +53.8%. The remaining supplying countries recorded the following average annual rates of imports growth: Denmark (+109.9% per year) and the United Arab Emirates (+103.0% per year).
In value terms, Denmark ($X), Indonesia ($X) and the United Arab Emirates ($X) appeared to be the largest margarine and shortening suppliers to Nigeria, together comprising 79% of total imports.
Denmark, with a CAGR of +92.1%, saw the highest rates of growth with regard to 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 margarine and shortening import price stood at $X per ton in 2022, dropping by -9.9% against the previous year. In general, the import price recorded a pronounced decline. The pace of growth was the most pronounced in 2014 when the average import price increased by 51%. The import price peaked at $X per ton in 2016; however, from 2017 to 2022, import prices failed to regain momentum.
There were significant differences in the average prices amongst the major supplying countries. In 2022, amid the top importers, the country with the highest price was Denmark ($X per ton), while the price for Australia ($X per ton) was amongst the lowest.
From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Ghana (+0.3%), while the prices for the other major suppliers experienced a decline.
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Frequently Asked Questions (FAQ) :
This report provides an in-depth analysis of the margarine and shortening 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:
- FCL 1242 - Margarine and Shortening
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
- REPORT DESCRIPTION
- RESEARCH METHODOLOGY AND THE AI PLATFORM
- DATA-DRIVEN DECISIONS FOR YOUR BUSINESS
- GLOSSARY AND SPECIFIC TERMS
2. EXECUTIVE SUMMARY
A Quick Overview of Market Performance
- KEY FINDINGS
- MARKET TRENDSThis Chapter is Available Only for the Professional EditionPRO
3. MARKET OVERVIEW
Understanding the Current State of The Market and its Prospects
- MARKET SIZE: HISTORICAL DATA (2012–2024) AND FORECAST (2025–2035)
- MARKET STRUCTURE: HISTORICAL DATA (2012–2024) AND FORECAST (2025–2035)
- TRADE BALANCE: HISTORICAL DATA (2012–2024) AND FORECAST (2025–2035)
- PER CAPITA CONSUMPTION: HISTORICAL DATA (2012–2024) AND FORECAST (2025–2035)
- MARKET FORECAST TO 2035
4. MOST PROMISING PRODUCTS FOR DIVERSIFICATION
Finding New Products to Diversify Your Business
- TOP PRODUCTS TO DIVERSIFY YOUR BUSINESS
- BEST-SELLING PRODUCTS
- MOST CONSUMED PRODUCTS
- MOST TRADED PRODUCTS
- MOST PROFITABLE PRODUCTS FOR EXPORTS
5. MOST PROMISING SUPPLYING COUNTRIES
Choosing the Best Countries to Establish Your Sustainable Supply Chain
- TOP COUNTRIES TO SOURCE YOUR PRODUCT
- TOP PRODUCING COUNTRIES
- TOP EXPORTING COUNTRIES
- LOW-COST EXPORTING COUNTRIES
6. MOST PROMISING OVERSEAS MARKETS
Choosing the Best Countries to Boost Your Export
- TOP OVERSEAS MARKETS FOR EXPORTING YOUR PRODUCT
- TOP CONSUMING MARKETS
- UNSATURATED MARKETS
- TOP IMPORTING MARKETS
- MOST PROFITABLE MARKETS
7. PRODUCTION
The Latest Trends and Insights into The Industry
- PRODUCTION VOLUME AND VALUE: HISTORICAL DATA (2012–2024) AND FORECAST (2025–2035)
8. IMPORTS
The Largest Import Supplying Countries
- IMPORTS: HISTORICAL DATA (2012–2024) AND FORECAST (2025–2035)
- IMPORTS BY COUNTRY: HISTORICAL DATA (2012–2024)
- IMPORT PRICES BY COUNTRY: HISTORICAL DATA (2012–2024)
9. EXPORTS
The Largest Destinations for Exports
- EXPORTS: HISTORICAL DATA (2012–2024) AND FORECAST (2025–2035)
- EXPORTS BY COUNTRY: HISTORICAL DATA (2012–2024)
- EXPORT PRICES BY COUNTRY: HISTORICAL DATA (2012–2024)
10. PROFILES OF MAJOR PRODUCERS
The Largest Producers on The Market and Their Profiles
LIST OF TABLES
- Key Findings In 2024
- Market Volume, In Physical Terms: Historical Data (2012–2024) and Forecast (2025–2035)
- Market Value: Historical Data (2012–2024) and Forecast (2025–2035)
- Per Capita Consumption: Historical Data (2012–2024) and Forecast (2025–2035)
- Imports, In Physical Terms, By Country, 2012–2024
- Imports, In Value Terms, By Country, 2012–2024
- Import Prices, By Country, 2012–2024
- Exports, In Physical Terms, By Country, 2012–2024
- Exports, In Value Terms, By Country, 2012–2024
- Export Prices, By Country, 2012–2024
LIST OF FIGURES
- Market Volume, In Physical Terms: Historical Data (2012–2024) and Forecast (2025–2035)
- Market Value: Historical Data (2012–2024) and Forecast (2025–2035)
- Market Structure – Domestic Supply vs. Imports, in Physical Terms: Historical Data (2012–2024) and Forecast (2025–2035)
- Market Structure – Domestic Supply vs. Imports, in Value Terms: Historical Data (2012–2024) and Forecast (2025–2035)
- Trade Balance, In Physical Terms: Historical Data (2012–2024) and Forecast (2025–2035)
- Trade Balance, In Value Terms: Historical Data (2012–2024) and Forecast (2025–2035)
- Per Capita Consumption: Historical Data (2012–2024) and Forecast (2025–2035)
- Market Volume Forecast to 2035
- Market Value Forecast to 2035
- Market Size and Growth, By Product
- Average Per Capita Consumption, By Product
- Exports and Growth, By Product
- Export Prices and Growth, By Product
- Production Volume and Growth
- Exports and Growth
- Export Prices and Growth
- Market Size and Growth
- Per Capita Consumption
- Imports and Growth
- Import Prices
- Production, In Physical Terms: Historical Data (2012–2024) and Forecast (2025–2035)
- Production, In Value Terms: Historical Data (2012–2024) and Forecast (2025–2035)
- Imports, In Physical Terms: Historical Data (2012–2024) and Forecast (2025–2035)
- Imports, In Value Terms: Historical Data (2012–2024) and Forecast (2025–2035)
- Imports, In Physical Terms, By Country, 2024
- Imports, In Physical Terms, By Country, 2012–2024
- Imports, In Value Terms, By Country, 2012–2024
- Import Prices, By Country, 2012–2024
- Exports, In Physical Terms: Historical Data (2012–2024) and Forecast (2025–2035)
- Exports, In Value Terms: Historical Data (2012–2024) and Forecast (2025–2035)
- Exports, In Physical Terms, By Country, 2024
- Exports, In Physical Terms, By Country, 2012–2024
- Exports, In Value Terms, By Country, 2012–2024
- Export Prices, By Country, 2012–2024
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