Nigeria: Razor Market 2025

Razor Market Size in Nigeria

After two years of growth, the Nigerien razor market decreased by -35.7% to $X in 2021. Over the period under review, consumption recorded a noticeable decline. As a result, consumption attained the peak level of $X. From 2015 to 2021, the growth of the market remained at a lower figure.

Razor Exports

Exports from Nigeria

In 2021, exports of razors from Nigeria dropped rapidly to X kg, falling by -46.3% on the previous year. Over the period under review, exports, however, posted a strong increase. The most prominent rate of growth was recorded in 2013 when exports increased by 249% against the previous year. The exports peaked at X kg in 2017; however, from 2018 to 2021, the exports remained at a lower figure.

In value terms, razor exports declined significantly to $X in 2021. Overall, exports saw a noticeable setback. The growth pace was the most rapid in 2013 when exports increased by 318% against the previous year. The exports peaked at $X in 2017; however, from 2018 to 2021, the exports failed to regain momentum.

Exports by Country

Cameroon (X kg) was the main destination for razor exports from Nigeria, accounting for a 72% share of total exports. Moreover, razor exports to Cameroon exceeded the volume sent to the second major destination, Benin (X kg), fourfold.

From 2012 to 2021, the average annual rate of growth in terms of volume to Cameroon stood at +17.1%. Exports to the other major destinations recorded the following average annual rates of exports growth: Benin (+7.4% per year) and Tanzania (+16.7% per year).

In value terms, Cameroon ($X) remains the key foreign market for razors exports from Nigeria, comprising 54% of total exports. The second position in the ranking was held by Tanzania ($X), with a 25% share of total exports. It was followed by Benin, with a 13% share.

From 2012 to 2021, the average annual rate of growth in terms of value to Cameroon amounted to +13.5%. Exports to the other major destinations recorded the following average annual rates of exports growth: Tanzania (+15.4% per year) and Benin (+7.5% per year).

Export Prices by Country

The average razor export price stood at $X per ton in 2021, increasing by 12% against the previous year. Over the period under review, the export price, however, saw a abrupt shrinkage. The pace of growth was the most pronounced in 2013 when the average export price increased by 19% against the previous year. Over the period under review, the average export prices attained the maximum at $X per ton in 2015; however, from 2016 to 2021, the export prices failed to regain momentum.

There were significant differences in the average prices for the major external markets. In 2021, the country with the highest price was France ($X per ton), while the average price for exports to Benin ($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 France (+12.5%), while the prices for the other major destinations experienced a decline.

Razor Imports

Imports into Nigeria

In 2021, overseas purchases of razors decreased by -43.5% to X tons for the first time since 2016, thus ending a four-year rising trend. In general, imports showed a perceptible decline. The pace of growth was the most pronounced in 2014 with an increase of 59% against the previous year. Imports peaked at X tons in 2020, and then reduced rapidly in the following year.

In value terms, razor imports shrank remarkably to $X in 2021. Overall, imports recorded a perceptible decline. The pace of growth appeared the most rapid in 2014 with an increase of 111% against the previous year. As a result, imports attained the peak of $X. From 2015 to 2021, the growth of imports remained at a lower figure.

Imports by Country

The United Arab Emirates (X tons), Vietnam (X tons) and France (X tons) were the main suppliers of razor imports to Nigeria, with a combined 41% share of total imports. Poland, Belgium, China and the United States lagged somewhat behind, together comprising a further 15%.

From 2012 to 2021, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by the United States (with a CAGR of +65.7%), while imports for the other leaders experienced more modest paces of growth.

In value terms, Vietnam ($X), France ($X) and Poland ($X) appeared to be the largest razor suppliers to Nigeria, with a combined 38% share of total imports. These countries were followed by the United Arab Emirates, the United States, Belgium and China, which together accounted for a further 11%.

In terms of the main suppliers, the United States, with a CAGR of +56.9%, recorded the highest growth rate of 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

In 2021, the average razor import price amounted to $X per ton, surging by 26% against the previous year. In general, the import price saw a relatively flat trend pattern. The pace of growth was the most pronounced in 2013 when the average import price increased by 57% against the previous year. The import price peaked at $X per ton in 2014; however, from 2015 to 2021, import prices failed to regain momentum.

Prices varied noticeably country of origin: the country with the highest price was Vietnam ($X per ton), while the price for the United Arab Emirates ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Belgium (+16.6%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

Frequently Asked Questions (FAQ) :