Report Update Nov 1, 2024

Nigeria - Sugars, Sugar Ethers and Salts - Market Analysis, Forecast, Size, Trends and Insights

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Nigeria: Sugars Market 2024

Sugars Market Size in Nigeria

In 2021, the Nigerien sugars market decreased by -45.4% to $X for the first time since 2018, thus ending a two-year rising trend. In general, consumption, however, saw a strong increase. Over the period under review, the market hit record highs at $X in 2020, and then dropped rapidly in the following year.

Sugars Exports

Exports from Nigeria

In 2021, exports of sugars, sugar ethers and salts from Nigeria fell rapidly to X kg, with a decrease of -79.4% against the previous year's figure. In general, exports, however, showed a prominent increase. The pace of growth was the most pronounced in 2013 with an increase of 41,467% against the previous year. As a result, the exports reached the peak of X tons. From 2014 to 2021, the growth of the exports remained at a somewhat lower figure.

In value terms, sugars exports shrank sharply to $X in 2021. Over the period under review, exports, however, continue to indicate a resilient increase. The most prominent rate of growth was recorded in 2013 when exports increased by 16,521% against the previous year. The exports peaked at $X in 2018; however, from 2019 to 2021, the exports remained at a lower figure.

Exports by Country

Benin (X kg), Niger (X kg) and South Africa (X kg) were the main destinations of sugars exports from Nigeria.

From 2012 to 2021, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by Niger (with a CAGR of +5.8%), while the other leaders experienced mixed trend patterns.

In value terms, Niger ($X) remains the key foreign market for sugars, sugar ethers and salts exports from Nigeria, comprising 80% of total exports. The second position in the ranking was held by Benin ($X), with a 20% share of total exports.

From 2012 to 2021, the average annual rate of growth in terms of value to Niger stood at +13.5%.

Export Prices by Country

The average sugars export price stood at $X per ton in 2021, dropping by -40.6% against the previous year. In general, the export price recorded a mild decrease. The most prominent rate of growth was recorded in 2017 when the average export price increased by 77% against the previous year. Over the period under review, the average export prices hit record highs at $X per ton in 2020, and then reduced remarkably in the following year.

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 Niger ($X per ton), while the average price for exports to South Africa ($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 Ghana (+25.4%), while the prices for the other major destinations experienced mixed trend patterns.

Sugars Imports

Imports into Nigeria

In 2021, after two years of growth, there was significant decline in purchases abroad of sugars, sugar ethers and salts, when their volume decreased by -50.9% to X tons. Over the period under review, imports, however, enjoyed buoyant growth. The most prominent rate of growth was recorded in 2014 when imports increased by 209% against the previous year. Imports peaked at X tons in 2020, and then dropped sharply in the following year.

In value terms, sugars imports contracted sharply to $X in 2021. In general, imports, however, continue to indicate strong growth. The most prominent rate of growth was recorded in 2014 when imports increased by 358%. Imports peaked at $X in 2020, and then dropped significantly in the following year.

Imports by Country

Spain (X tons), Austria (X tons) and China (X tons) were the main suppliers of sugars imports to Nigeria, with a combined 78% share of total imports.

From 2012 to 2021, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by Spain (with a CAGR of +106.3%), while imports for the other leaders experienced more modest paces of growth.

In value terms, the largest sugars suppliers to Nigeria were Spain ($X), Austria ($X) and China ($X), together comprising 87% of total imports.

In terms of the main suppliers, Spain, with a CAGR of +60.8%, 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 2021, the average sugars import price amounted to $X per ton, jumping by 19% against the previous year. Overall, the import price showed a modest increase. The most prominent rate of growth was recorded in 2014 an increase of 48% against the previous year. As a result, import price attained the peak level of $X per ton. From 2015 to 2021, the average import prices remained at a lower figure.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was Indonesia ($X per ton), while the price for India ($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 United States (+14.8%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

Frequently Asked Questions (FAQ) :

What are the largest markets for sugars, sugar ethers and salts in the world?

The countries with the highest volumes of in 2021 were China, the United States and India, together accounting for 41% of global consumption. These countries were followed by Japan, Brazil, Spain, Germany, Switzerland, Indonesia, Poland, Russia, the Philippines and South Korea, which together accounted for a further 29%.

What are the largest producers of sugars, sugar ethers and salts in the world?

The countries with the highest volumes of in 2021 were China, Germany and the United States, together comprising 49% of global production. Thailand, India, Indonesia, France, Austria, Brazil, South Africa, the Philippines and the UK lagged somewhat behind, together comprising a further 39%.

What are the leading suppliers of sugars, sugar ethers and salts to Nigeria?

In value terms, China, Spain and Austria constituted the largest sugars suppliers to Nigeria, together accounting for 88% of total imports. France and India lagged somewhat behind, together comprising a further 8%.

What are the leading importers of sugars, sugar ethers and salts from Nigeria?

In value terms, Niger remains the key foreign market for sugars exports from Nigeria, comprising 80% of total exports. The second position in the ranking was occupied by Benin $410), with a 20% share of total exports.

What is the average export price for sugars, sugar ethers and salts in Nigeria?

The average sugars export price stood at $3,024 per ton in 2021, waning by -55% against the previous year.

What is the average import price for sugars, sugar ethers and salts in Nigeria?

In 2021, the average sugars import price amounted to $3,083 per ton, surging by 15% against the previous year.

This report provides an in-depth analysis of the sugars market in Nigeria. Within it, you will discover the latest data on market trends and opportunities by country, consumption, production and price developments, as well as the global trade (imports and exports). The forecast exhibits the market prospects through 2030.

Product coverage:

Prodcom 21104000 - Sugars, pure (excluding glucose, etc.), sugar ethers and salts, etc.

Country coverage:

Nigeria

Data coverage:

Market volume and value
Per Capita consumption
Forecast of the market dynamics in the medium term
Trade (exports and imports) in Nigeria
Export and import prices
Market trends, drivers and restraints
Key market players and their profiles

Reasons to buy this report:

Take advantage of the latest data
Find deeper insights into current market developments
Discover vital success factors affecting the market

This report is designed for manufacturers, distributors, importers, and wholesalers, as well as for investors, consultants and advisors.

In this report, you can find information that helps you to make informed decisions on the following issues:

How to diversify your business and benefit from new market opportunities
How to load your idle production capacity
How to boost your sales on overseas markets
How to increase your profit margins
How to make your supply chain more sustainable
How to reduce your production and supply chain costs
How to outsource production to other countries
How to prepare your business for global expansion

While doing this research, we combine the accumulated expertise of our analysts and the capabilities of artificial intelligence. The AI-based platform, developed by our data scientists, constitutes the key working tool for business analysts, empowering them to discover deep insights and ideas from the marketing data.

1. INTRODUCTION

Making Data-Driven Decisions to Grow Your Business
1. REPORT DESCRIPTION
2. RESEARCH METHODOLOGY AND AI PLATFORM
3. DATA-DRIVEN DECISIONS FOR YOUR BUSINESS
4. GLOSSARY AND SPECIFIC TERMS
2. EXECUTIVE SUMMARY

A Quick Overview of Market Performance
1. KEY FINDINGS
2. MARKET TRENDS This Chapter is Available Only for the Professional Edition PRO
3. MARKET OVERVIEW

Understanding the Current State of The Market and Its Prospects
1. MARKET SIZE
2. MARKET STRUCTURE
3. TRADE BALANCE
4. PER CAPITA CONSUMPTION
5. MARKET FORECAST TO 2030
4. MOST PROMISING PRODUCT

Finding New Products to Diversify Your Business
This Chapter is Available Only for the Professional Edition PRO
1. TOP PRODUCTS TO DIVERSIFY YOUR BUSINESS
2. BEST-SELLING PRODUCTS
3. MOST CONSUMED PRODUCT
4. MOST TRADED PRODUCT
5. MOST PROFITABLE PRODUCT FOR EXPORT
5. MOST PROMISING SUPPLYING COUNTRIES

Choosing the Best Countries to Establish Your Sustainable Supply Chain
This Chapter is Available Only for the Professional Edition PRO
1. TOP COUNTRIES TO SOURCE YOUR PRODUCT
2. TOP PRODUCING COUNTRIES
3. TOP EXPORTING COUNTRIES
4. LOW-COST EXPORTING COUNTRIES
6. MOST PROMISING OVERSEAS MARKETS

Choosing the Best Countries to Boost Your Exports
This Chapter is Available Only for the Professional Edition PRO
1. TOP OVERSEAS MARKETS FOR EXPORTING YOUR PRODUCT
2. TOP CONSUMING MARKETS
3. UNSATURATED MARKETS
4. TOP IMPORTING MARKETS
5. MOST PROFITABLE MARKETS
7. PRODUCTION

The Latest Trends and Insights into The Industry
1. PRODUCTION VOLUME AND VALUE
8. IMPORTS
The Largest Import Supplying Countries
1. IMPORTS FROM 2012–2023
2. IMPORTS BY COUNTRY
3. IMPORT PRICES BY COUNTRY
9. EXPORTS
The Largest Destinations for Exports
1. EXPORTS FROM 2012–2023
2. EXPORTS BY COUNTRY
3. EXPORT PRICES BY COUNTRY
10. PROFILES OF MAJOR PRODUCERS

The Largest Producers on The Market and Their Profiles
This Chapter is Available Only for the Professional Edition PRO
LIST OF TABLES
1. Key Findings In 2023
2. Market Volume, In Physical Terms, 2012–2023
3. Market Value, 2012–2023
4. Per Capita Consumption In 2012-2023
5. Imports, In Physical Terms, By Country, 2012–2023
6. Imports, In Value Terms, By Country, 2012–2023
7. Import Prices, By Country Of Origin, 2012–2023
8. Exports, In Physical Terms, By Country, 2012–2023
9. Exports, In Value Terms, By Country, 2012–2023
10. Export Prices, By Country Of Destination, 2012–2023
LIST OF FIGURES
1. Market Volume, In Physical Terms, 2012–2023
2. Market Value, 2012–2023
3. Market Structure – Domestic Supply vs. Imports, In Physical Terms, 2012-2023
4. Market Structure – Domestic Supply vs. Imports, In Value Terms, 2012-2023
5. Trade Balance, In Physical Terms, 2012-2023
6. Trade Balance, In Value Terms, 2012-2023
7. Per Capita Consumption, 2012-2023
8. Market Volume Forecast to 2030
9. Market Value Forecast to 2030
10. Products: Market Size And Growth, By Type
11. Products: Average Per Capita Consumption, By Type
12. Products: Exports And Growth, By Type
13. Products: Export Prices And Growth, By Type
14. Production Volume And Growth
15. Exports And Growth
16. Export Prices And Growth
17. Market Size And Growth
18. Per Capita Consumption
19. Imports And Growth
20. Import Prices
21. Production, In Physical Terms, 2012–2023
22. Production, In Value Terms, 2012–2023
23. Imports, In Physical Terms, 2012–2023
24. Imports, In Value Terms, 2012–2023
25. Imports, In Physical Terms, By Country, 2023
26. Imports, In Physical Terms, By Country, 2012–2023
27. Imports, In Value Terms, By Country, 2012–2023
28. Import Prices, By Country Of Origin, 2012–2023
29. Exports, In Physical Terms, 2012–2023
30. Exports, In Value Terms, 2012–2023
31. Exports, In Physical Terms, By Country, 2023
32. Exports, In Physical Terms, By Country, 2012–2023
33. Exports, In Value Terms, By Country, 2012–2023
34. Export Prices, By Country Of Destination, 2012–2023