Nigeria: Sauce And Seasoning Market 2024

Sauce And Seasoning Market Size in Nigeria

The Nigerien sauce and seasoning market reduced modestly to $X in 2021, leveling off at the previous year. The market value increased at an average annual rate of +2.9% over the period from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. Sauce and seasoning consumption peaked at $X in 2014; however, from 2015 to 2021, consumption remained at a lower figure.

Sauce And Seasoning Production in Nigeria

In value terms, sauce and seasoning production amounted to $X in 2021 estimated in export price. Over the period under review, the total production indicated noticeable growth from 2012 to 2021: its value increased at an average annual rate of +3.0% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, production decreased by -0.2% against 2019 indices. The pace of growth appeared the most rapid in 2014 when the production volume increased by 58%. As a result, production reached the peak level of $X. From 2015 to 2021, production growth failed to regain momentum.

Sauce And Seasoning Exports

Exports from Nigeria

In 2021, approx. X tons of sauces and seasonings were exported from Nigeria; rising by 307% compared with 2020 figures. In general, exports enjoyed a temperate increase. The growth pace was the most rapid in 2016 with an increase of 1,039% against the previous year. Over the period under review, the exports attained the maximum at X tons in 2013; however, from 2014 to 2021, the exports stood at a somewhat lower figure.

In value terms, sauce and seasoning exports surged to $X in 2021. Overall, exports, however, recorded a relatively flat trend pattern. The growth pace was the most rapid in 2016 when exports increased by 1,059% against the previous year. Over the period under review, the exports attained the peak figure at $X in 2013; however, from 2014 to 2021, the exports remained at a lower figure.

Exports by Country

Ghana (X tons) was the main destination for sauce and seasoning exports from Nigeria, accounting for a 83% share of total exports. Moreover, sauce and seasoning exports to Ghana exceeded the volume sent to the second major destination, the Philippines (X tons), tenfold. The third position in this ranking was taken by Cote d'Ivoire (X tons), with a 1.5% share.

From 2012 to 2021, the average annual rate of growth in terms of volume to Ghana stood at +13.1%. Exports to the other major destinations recorded the following average annual rates of exports growth: the Philippines (0.0% per year) and Cote d'Ivoire (+40.5% per year).

In value terms, Ghana ($X) remains the key foreign market for sauces and seasonings exports from Nigeria, comprising 91% of total exports. The second position in the ranking was taken by Cote d'Ivoire ($X), with a 1.6% share of total exports. It was followed by the Philippines, with a 0.9% share.

From 2012 to 2021, the average annual growth rate of value to Ghana stood at +8.1%. Exports to the other major destinations recorded the following average annual rates of exports growth: Cote d'Ivoire (+29.0% per year) and the Philippines (0.0% per year).

Export Prices by Country

In 2021, the average sauce and seasoning export price amounted to $X per ton, falling by -29.1% against the previous year. Overall, the export price saw a noticeable slump. The pace of growth appeared the most rapid in 2014 an increase of 56%. As a result, the export price reached the peak level of $X per ton. From 2015 to 2021, the average export prices failed to regain momentum.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Ghana ($X per ton), while the average price for exports to the Philippines ($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 Spain (+44.1%), while the prices for the other major destinations experienced a decline.

Sauce And Seasoning Imports

Imports into Nigeria

In 2021, after three years of growth, there was significant decline in supplies from abroad of sauces and seasonings, when their volume decreased by -41.9% to X tons. Over the period under review, imports showed a deep downturn. The pace of growth was the most pronounced in 2013 when imports increased by 442%. As a result, imports reached the peak of X tons. From 2014 to 2021, the growth of imports failed to regain momentum.

In value terms, sauce and seasoning imports declined sharply to $X in 2021. Overall, imports recorded a mild decrease. The growth pace was the most rapid in 2013 with an increase of 578% against the previous year. As a result, imports reached the peak of $X. From 2014 to 2021, the growth of imports failed to regain momentum.

Imports by Country

In 2021, Indonesia (X tons) constituted the largest sauce and seasoning supplier to Nigeria, accounting for a 33% share of total imports. Moreover, sauce and seasoning imports from Indonesia exceeded the figures recorded by the second-largest supplier, China (X tons), twofold. The third position in this ranking was taken by South Africa (X tons), with a 13% share.

From 2012 to 2021, the average annual growth rate of volume from Indonesia totaled +40.7%. The remaining supplying countries recorded the following average annual rates of imports growth: China (-17.2% per year) and South Africa (-10.0% per year).

In value terms, Indonesia ($X) constituted the largest supplier of sauces and seasonings to Nigeria, comprising 60% of total imports. The second position in the ranking was taken by South Africa ($X), with a 12% share of total imports. It was followed by China, with a 7.2% share.

From 2012 to 2021, the average annual rate of growth in terms of value from Indonesia amounted to +39.4%. The remaining supplying countries recorded the following average annual rates of imports growth: South Africa (-2.6% per year) and China (-12.9% per year).

Import Prices by Country

The average sauce and seasoning import price stood at $X per ton in 2021, increasing by 6.4% against the previous year. Over the period from 2012 to 2021, it increased at an average annual rate of +5.7%. The pace of growth appeared the most rapid in 2014 when the average import price increased by 34%. As a result, import price attained the peak level of $X per ton. From 2015 to 2021, the average 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 UK ($X per ton), while the price for India ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by the UK (+16.0%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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