Nigeria: Market for Powdered, Condensed Or Evaporated Milk 2024

Market Size for Powdered, Condensed Or Evaporated Milk in Nigeria

In 2022, the Nigerien market for powdered, condensed or evaporated milk decreased by X% to $X, falling for the second year in a row after two years of growth. Overall, consumption, however, enjoyed a slight expansion. Powdered, condensed or evaporated milk consumption peaked at $X in 2020; however, from 2021 to 2022, consumption failed to regain momentum.

Exports of Powdered, Condensed Or Evaporated Milk

Exports from Nigeria

In 2022, overseas shipments of powdered, condensed or evaporated milk were finally on the rise to reach X tons for the first time since 2019, thus ending a two-year declining trend. Over the period under review, exports, however, recorded a precipitous contraction. Over the period under review, the exports hit record highs at X tons in 2012; however, from 2013 to 2022, the exports stood at a somewhat lower figure.

In value terms, powdered, condensed or evaporated milk exports soared to $X in 2022. Overall, exports, however, faced a dramatic slump. Over the period under review, the exports attained the peak figure at $X in 2013; however, from 2014 to 2022, the exports remained at a lower figure.

Exports by Country

Togo (X tons) was the main destination for powdered, condensed or evaporated milk exports from Nigeria, accounting for a X% share of total exports. Moreover, powdered, condensed or evaporated milk exports to Togo exceeded the volume sent to the second major destination, Ghana (X tons), threefold. The third position in this ranking was taken by Cote d'Ivoire (X tons), with a X% share.

From 2012 to 2022, the average annual growth rate of volume to Togo amounted to X%. Exports to the other major destinations recorded the following average annual rates of exports growth: Ghana (X% per year) and Cote d'Ivoire (X% per year).

In value terms, the largest markets for powdered, condensed or evaporated milk exported from Nigeria were Ghana ($X), Togo ($X) and Cote d'Ivoire ($X), together accounting for X% of total exports.

Togo, with a CAGR of X%, recorded the highest rates of growth with regard to the value of exports, in terms of the main countries of destination over the period under review, while shipments for the other leaders experienced a decline.

Export Prices by Country

In 2022, the average export price for powdered, condensed or evaporated milk amounted to $X per ton, with an increase of X% against the previous year. Over the period under review, the export price enjoyed a measured expansion. The most prominent rate of growth was recorded in 2021 an increase of X% against the previous year. Over the period under review, the average export prices attained the peak figure at $X per ton in 2013; however, from 2014 to 2022, the export prices stood at a somewhat lower figure.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Ghana ($X per ton), while the average price for exports to Cameroon ($X per ton) was amongst the lowest.

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

Imports of Powdered, Condensed Or Evaporated Milk

Imports into Nigeria

In 2022, overseas purchases of powdered, condensed or evaporated milk decreased by X% to X tons, falling for the second year in a row after two years of growth. Overall, imports continue to indicate a perceptible decline. The pace of growth appeared the most rapid in 2014 with an increase of X%. Imports peaked at X tons in 2020; however, from 2021 to 2022, imports failed to regain momentum.

In value terms, powdered, condensed or evaporated milk imports fell to $X in 2022. In general, imports showed a relatively flat trend pattern. The most prominent rate of growth was recorded in 2020 when imports increased by X% against the previous year. As a result, imports attained the peak of $X. From 2021 to 2022, the growth of imports remained at a somewhat lower figure.

Imports by Country

In 2022, the United Arab Emirates (X tons) constituted the largest powdered, condensed or evaporated milk supplier to Nigeria, accounting for a X% share of total imports. Moreover, powdered, condensed or evaporated milk imports from the United Arab Emirates exceeded the figures recorded by the second-largest supplier, Barbados (X tons), sixfold. The third position in this ranking was taken by the Netherlands (X tons), with a X% share.

From 2012 to 2022, the average annual growth rate of volume from the United Arab Emirates amounted to X%. The remaining supplying countries recorded the following average annual rates of imports growth: Barbados (X% per year) and the Netherlands (X% per year).

In value terms, the United Arab Emirates ($X) constituted the largest supplier of powdered, condensed or evaporated milk to Nigeria, comprising X% of total imports. The second position in the ranking was taken by Ireland ($X), with a X% share of total imports. It was followed by the Netherlands, with a X% share.

From 2012 to 2022, the average annual rate of growth in terms of value from the United Arab Emirates totaled X%. The remaining supplying countries recorded the following average annual rates of imports growth: Ireland (X% per year) and the Netherlands (X% per year).

Import Prices by Country

The average import price for powdered, condensed or evaporated milk stood at $X per ton in 2022, increasing by X% against the previous year. Overall, import price indicated a notable increase from 2012 to 2022: its price increased at an average annual rate of X% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, powdered, condensed or evaporated milk import price increased by X% against 2019 indices. The most prominent rate of growth was recorded in 2020 an increase of X%. The import price peaked in 2022 and is expected to retain 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 Ireland ($X per ton), while the price for Barbados ($X per ton) was amongst the lowest.

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

Source: IndexBox Platform

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