Nigeria: Refrigerated Show-Cases Market 2024

Refrigerated Show-Cases Market Size in Nigeria

In 2022, the Nigerien refrigerated show-cases market decreased by -25.8% to $X, falling for the third year in a row after three years of growth. Over the period under review, consumption saw a noticeable contraction. Refrigerated show-cases consumption peaked at $X in 2019; however, from 2020 to 2022, consumption failed to regain momentum.

Refrigerated Show-Cases Exports

Exports from Nigeria

In 2022, exports of refrigerated show-caseses from Nigeria totaled X units, remaining constant against the year before. Over the period under review, exports showed a drastic downturn. The pace of growth was the most pronounced in 2020 with an increase of 67%. Over the period under review, the exports attained the peak figure at X units in 2015; however, from 2016 to 2022, the exports stood at a somewhat lower figure.

In value terms, refrigerated show-cases exports contracted to $X in 2022. In general, exports continue to indicate a deep contraction. The pace of growth was the most pronounced in 2020 when exports increased by 59% against the previous year. The exports peaked at $X in 2015; however, from 2016 to 2022, the exports failed to regain momentum.

Exports by Country

Cote d'Ivoire (X units) was the main destination for refrigerated show-cases exports from Nigeria, accounting for a 42% share of total exports. Moreover, refrigerated show-cases exports to Cote d'Ivoire exceeded the volume sent to the second major destination, Niger (X units), threefold. The third position in this ranking was taken by Canada (X units), with a 17% share.

From 2012 to 2022, the average annual growth rate of volume to Cote d'Ivoire amounted to -16.7%. Exports to the other major destinations recorded the following average annual rates of exports growth: Niger (+7.2% per year) and Canada (0.0% per year).

In value terms, Cote d'Ivoire ($X), Canada ($X) and Niger ($X) were the largest markets for refrigerated show-cases exported from Nigeria worldwide, together accounting for 98% of total exports.

In terms of the main countries of destination, Niger, with a CAGR of +23.8%, saw the highest rates of growth with regard to the value of exports, over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

In 2022, the average refrigerated show-cases export price amounted to $X per unit, reducing by -13.5% against the previous year. In general, the export price continues to indicate a noticeable slump. The most prominent rate of growth was recorded in 2021 an increase of 71% against the previous year. The export price peaked at $X per unit in 2012; however, from 2013 to 2022, the export prices remained at a lower figure.

There were significant differences in the average prices for the major external markets. In 2022, amid the top suppliers, the country with the highest price was Canada ($X per unit), while the average price for exports to Angola ($X per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Canada (+20.0%), while the prices for the other major destinations experienced more modest paces of growth.

Refrigerated Show-Cases Imports

Imports into Nigeria

In 2022, supplies from abroad of refrigerated show-caseses decreased by -44.6% to X units, falling for the third year in a row after three years of growth. In general, imports showed a deep setback. The most prominent rate of growth was recorded in 2018 with an increase of 429% against the previous year. Imports peaked at X units in 2019; however, from 2020 to 2022, imports stood at a somewhat lower figure.

In value terms, refrigerated show-cases imports dropped notably to $X in 2022. Over the period under review, imports saw a noticeable decline. The pace of growth appeared the most rapid in 2018 with an increase of 330%. Imports peaked at $X in 2019; however, from 2020 to 2022, imports stood at a somewhat lower figure.

Imports by Country

Luxembourg (X units), Brazil (X units) and India (X units) were the main suppliers of refrigerated show-cases imports to Nigeria, with a combined 52% share of total imports.

From 2012 to 2022, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by Luxembourg (with a CAGR of +37.5%), while imports for the other leaders experienced more modest paces of growth.

In value terms, the largest refrigerated show-cases suppliers to Nigeria were Luxembourg ($X), China ($X) and India ($X), with a combined 45% share of total imports.

In terms of the main suppliers, Luxembourg, with a CAGR of +33.5%, saw 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 2022, the average refrigerated show-cases import price amounted to $X per unit, jumping by 50% against the previous year. In general, import price indicated modest growth from 2012 to 2022: its price increased at an average annual rate of +1.6% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, refrigerated show-cases import price increased by +65.6% against 2018 indices. As a result, import price reached the peak level and is likely to continue growth in the immediate term.

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 China ($X per unit), while the price for Brazil ($X per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by China (+6.7%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform