Nigeria: Paper Bag Market 2024

Paper Bag Market Size in Nigeria

The Nigerien paper bag market dropped to $X in 2021, reducing by -5.8% against the previous year. Over the period under review, consumption showed a slight curtailment. Over the period under review, the market attained the maximum level at $X in 2014; however, from 2015 to 2021, consumption remained at a lower figure.

Paper Bag Production in Nigeria

In value terms, paper bag production contracted to $X in 2021 estimated in export price. Overall, production continues to indicate a mild decrease. The growth pace was the most rapid in 2013 with an increase of 28% against the previous year. Paper bag production peaked at $X in 2014; however, from 2015 to 2021, production remained at a lower figure.

Paper Bag Exports

Exports from Nigeria

In 2021, exports of sacks and bags of paper from Nigeria soared to X tons, picking up by 1,540% on 2020. Overall, exports posted a significant expansion. The most prominent rate of growth was recorded in 2014 with an increase of 1,564% against the previous year. Over the period under review, the exports hit record highs in 2021 and are expected to retain growth in the immediate term.

In value terms, paper bag exports soared to $X in 2021. In general, exports recorded significant growth. As a result, the exports reached the peak and are likely to continue growth in the immediate term.

Exports by Country

Cote d'Ivoire (X tons), Benin (X tons) and France (X tons) were the main destinations of paper bag exports from Nigeria, together comprising 65% of total exports.

From 2012 to 2021, the biggest increases were recorded for Cote d'Ivoire (with a CAGR of +110.2%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, Cote d'Ivoire ($X) emerged as the key foreign market for sacks and bags of paper exports from Nigeria, comprising 51% of total exports. The second position in the ranking was held by France ($X), with a 13% share of total exports. It was followed by Benin, with a 4.4% share.

From 2012 to 2021, the average annual growth rate of value to Cote d'Ivoire totaled +88.2%. Exports to the other major destinations recorded the following average annual rates of exports growth: France (+117.9% per year) and Benin (+37.9% per year).

Export Prices by Country

The average paper bag export price stood at $X per ton in 2021, with an increase of 74% against the previous year. Over the period under review, export price indicated mild growth from 2012 to 2021: its price increased at an average annual rate of +1.7% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, paper bag export price increased by +89.9% against 2019 indices. The export price peaked at $X per ton in 2016; afterwards, it flattened through to 2021.

There were significant differences in the average prices for the major foreign markets. In 2021, amid the top suppliers, the country with the highest price was Cote d'Ivoire ($X per ton), while the average price for exports to Zambia ($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 (+6.9%), while the prices for the other major destinations experienced mixed trend patterns.

Paper Bag Imports

Imports into Nigeria

In 2021, after two years of growth, there was significant decline in supplies from abroad of sacks and bags of paper, when their volume decreased by -24.9% to X tons. In general, imports, however, posted a buoyant increase. The growth pace was the most rapid in 2019 with an increase of 209% against the previous year. Over the period under review, imports hit record highs at X tons in 2020, and then reduced dramatically in the following year.

In value terms, paper bag imports contracted rapidly to $X in 2021. Overall, imports, however, enjoyed a significant expansion. The pace of growth was the most pronounced in 2019 when imports increased by 330%. Over the period under review, imports hit record highs at $X in 2020, and then fell dramatically in the following year.

Imports by Country

China (X tons), India (X tons) and Saudi Arabia (X tons) were the main suppliers of paper bag imports to Nigeria, together comprising 69% of total imports.

From 2012 to 2021, the biggest increases were recorded for India (with a CAGR of +58.2%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, Saudi Arabia ($X), China ($X) and India ($X) constituted the largest paper bag suppliers to Nigeria, together accounting for 65% of total imports.

Among the main suppliers, India, with a CAGR of +58.9%, 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 paper bag import price amounted to $X per ton, rising by 12% against the previous year. Over the period from 2012 to 2021, it increased at an average annual rate of +2.8%. The most prominent rate of growth was recorded in 2019 when the average import price increased by 39% against the previous year. As a result, import price attained the peak level of $X per ton. From 2020 to 2021, the average import prices failed to regain momentum.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was Saudi Arabia ($X per ton), while the price for Cote d'Ivoire ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Indonesia (+10.1%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

Frequently Asked Questions (FAQ) :