Nigeria: Market for Paper Sacks And Bags 2024

Market Size for Paper Sacks And Bags in Nigeria

In 2021, the Nigerien paper sack and bag market increased by 71% to $X, rising for the fourth year in a row after two years of decline. Over the period under review, consumption showed a strong expansion. Paper sack and bag consumption peaked in 2021 and is likely to see gradual growth in the immediate term.

Exports of Paper Sacks And Bags

Exports from Nigeria

In 2021, shipments abroad of paper sacks and bags increased by 73% to X tons for the first time since 2018, thus ending a two-year declining trend. In general, exports enjoyed a strong increase. The most prominent rate of growth was recorded in 2018 when exports increased by 3,298%. As a result, the exports attained the peak of X tons. From 2019 to 2021, the growth of the exports remained at a lower figure.

In value terms, paper sack and bag exports surged to $X in 2021. Overall, exports continue to indicate a remarkable increase. The most prominent rate of growth was recorded in 2018 when exports increased by 7,040% against the previous year. As a result, the exports attained the peak of $X. From 2019 to 2021, the growth of the exports remained at a somewhat lower figure.

Exports by Country

The United States (X tons) was the main destination for paper sack and bag exports from Nigeria, with a 82% share of total exports. Moreover, paper sack and bag exports to the United States exceeded the volume sent to the second major destination, Jamaica (X kg), ninefold. Benin (X kg) ranked third in terms of total exports with a 7.6% share.

From 2012 to 2021, the average annual rate of growth in terms of volume to the United States was relatively modest. Exports to the other major destinations recorded the following average annual rates of exports growth: Jamaica (+1,550.3% per year) and Benin (+39.5% per year).

In value terms, the United States ($X) emerged as the key foreign market for paper sacks and bags exports from Nigeria, comprising 54% of total exports. The second position in the ranking was taken by Belgium ($X), with an 11% share of total exports. It was followed by Ireland, with an 8.1% share.

From 2012 to 2021, the average annual growth rate of value to the United States was relatively modest. Exports to the other major destinations recorded the following average annual rates of exports growth: Belgium (+500.6% per year) and Ireland (-12.1% per year).

Export Prices by Country

The average paper sack and bag export price stood at $X per ton in 2021, shrinking by -18.9% against the previous year. Overall, the export price saw a abrupt contraction. The most prominent rate of growth was recorded in 2018 when the average export price increased by 110%. As a result, the export price reached the peak level of $X per ton. From 2019 to 2021, the average export prices remained at a somewhat lower figure.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Austria ($X per ton), while the average price for exports to Jamaica ($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 Cameroon (+11.5%), while the prices for the other major destinations experienced more modest paces of growth.

Imports of Paper Sacks And Bags

Imports into Nigeria

In 2021, overseas purchases of paper sacks and bags increased by 76% to X tons, rising for the fourth consecutive year after two years of decline. Over the period under review, imports continue to indicate a strong expansion. The growth pace was the most rapid in 2018 with an increase of 412%. Over the period under review, imports attained the maximum in 2021 and are expected to retain growth in the immediate term.

In value terms, paper sack and bag imports surged to $X in 2021. In general, imports, however, recorded a relatively flat trend pattern. The pace of growth was the most pronounced in 2018 with an increase of 154% against the previous year. Over the period under review, imports hit record highs at $X in 2012; however, from 2013 to 2021, imports remained at a lower figure.

Imports by Country

Israel (X tons), China (X tons) and the United States (X tons) were the main suppliers of paper sack and bag imports to Nigeria, together comprising 36% of total imports. These countries were followed by Spain, India, Kenya, the United Arab Emirates, Argentina, Senegal, Taiwan (Chinese), Thailand and Canada, which together accounted for a further 20%.

From 2012 to 2021, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by Senegal (with a CAGR of +201.9%), while imports for the other leaders experienced more modest paces of growth.

In value terms, the largest paper sack and bag suppliers to Nigeria were India ($X), the United States ($X) and China ($X), with a combined 31% share of total imports. Spain, Israel, Argentina, Senegal, Kenya, the United Arab Emirates, Canada, Taiwan (Chinese) and Thailand lagged somewhat behind, together comprising a further 35%.

Among the main suppliers, Canada, with a CAGR of +74.9%, recorded the highest rates of growth with regard to the value of imports, over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

The average paper sack and bag import price stood at $X per ton in 2021, reducing by -22.7% against the previous year. Overall, the import price showed a abrupt decrease. The growth pace was the most rapid in 2020 when the average import price increased by 37% against the previous year. The import price peaked at $X per ton in 2014; however, from 2015 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 Argentina ($X per ton), while the price for Israel ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by India (+1.4%), while the prices for the other major suppliers experienced a decline.

Source: IndexBox Platform

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