Nigeria: Market for Tableware And Kitchenware Of Wood 2024

Market Size for Tableware And Kitchenware Of Wood in Nigeria

The Nigerien wood kitchenware and tableware market soared to $X in 2021, picking up by 96% against the previous year. This figure reflects the total revenues of producers and importers (excluding logistics costs, retail marketing costs, and retailers' margins, which will be included in the final consumer price). Over the period under review, consumption, however, continues to indicate a deep contraction. Over the period under review, the market reached the peak level at $X in 2013; however, from 2014 to 2021, consumption stood at a somewhat lower figure.

Exports of Tableware And Kitchenware Of Wood

Exports from Nigeria

In 2021, shipments abroad of tableware and kitchenware of wood increased by 57% to X tons, rising for the second consecutive year after two years of decline. Overall, exports recorded a buoyant increase. The pace of growth appeared the most rapid in 2020 when exports increased by 463% against the previous year. Over the period under review, the exports attained the maximum in 2021 and are likely to see gradual growth in the immediate term.

In value terms, wood kitchenware and tableware exports expanded significantly to $X in 2021. In general, exports recorded a significant expansion. The most prominent rate of growth was recorded in 2020 when exports increased by 684% against the previous year. Over the period under review, the exports hit record highs at $X in 2013; however, from 2014 to 2021, the exports remained at a lower figure.

Exports by Country

The UK (X tons) was the main destination for wood kitchenware and tableware exports from Nigeria, accounting for a 50% share of total exports. Moreover, wood kitchenware and tableware exports to the UK exceeded the volume sent to the second major destination, Niger (X tons), threefold. The third position in this ranking was held by the United States (X tons), with a 15% share.

From 2012 to 2021, the average annual growth rate of volume to the UK totaled +43.0%. Exports to the other major destinations recorded the following average annual rates of exports growth: Niger (+2.2% per year) and the United States (0.0% per year).

In value terms, the United States ($X), Benin ($X) and Niger ($X) were the largest markets for wood kitchenware and tableware exported from Nigeria worldwide, together comprising 65% of total exports.

Among the main countries of destination, Benin, with a CAGR of +37.8%, recorded 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 2021, the average wood kitchenware and tableware export price amounted to $X per ton, shrinking by -29% against the previous year. Overall, the export price, however, showed a temperate expansion. The most prominent rate of growth was recorded in 2013 an increase of 142%. As a result, the export price attained the peak level of $X per ton. From 2014 to 2021, the average export prices remained at a lower figure.

There were significant differences in the average prices for the major overseas markets. In 2021, amid the top suppliers, the country with the highest price was Benin ($X per ton), while the average price for exports to the UK ($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 Niger (+26.2%), while the prices for the other major destinations experienced mixed trend patterns.

Imports of Tableware And Kitchenware Of Wood

Imports into Nigeria

In 2021, the amount of tableware and kitchenware of wood imported into Nigeria skyrocketed to X tons, with an increase of 127% compared with 2020 figures. Over the period under review, imports, however, showed a abrupt downturn. The most prominent rate of growth was recorded in 2019 when imports increased by 892%. Imports peaked at X tons in 2013; however, from 2014 to 2021, imports failed to regain momentum.

In value terms, wood kitchenware and tableware imports skyrocketed to $X in 2021. In general, imports, however, recorded a deep setback. The pace of growth appeared the most rapid in 2019 with an increase of 515%. Over the period under review, imports attained the peak figure at $X in 2013; however, from 2014 to 2021, imports remained at a lower figure.

Imports by Country

Israel (X tons), China (X tons) and the United States (X tons) were the main suppliers of wood kitchenware and tableware imports to Nigeria, together comprising 69% of total imports. These countries were followed by the United Arab Emirates, Turkey, India, Japan and Denmark, which together accounted for a further 20%.

From 2012 to 2021, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by India (with a CAGR of +26.4%), while imports for the other leaders experienced more modest paces of growth.

In value terms, Israel ($X), the United States ($X) and China ($X) constituted the largest wood kitchenware and tableware suppliers to Nigeria, together comprising 58% of total imports. These countries were followed by Turkey, the United Arab Emirates, India, Japan and Denmark, which together accounted for a further 21%.

Among the main suppliers, India, with a CAGR of +18.3%, saw the highest rates of growth with regard to 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 wood kitchenware and tableware import price amounted to $X per ton, dropping by -46.6% against the previous year. In general, the import price showed a abrupt setback. The pace of growth appeared the most rapid in 2015 an increase of 41% against the previous year. The import price peaked at $X per ton in 2018; however, from 2019 to 2021, import prices failed to regain momentum.

There were significant differences in the average prices amongst the major supplying countries. In 2021, amid the top importers, the country with the highest price was Turkey ($X per ton), while the price for China ($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 Arab Emirates (+6.8%), while the prices for the other major suppliers experienced a decline.

Source: IndexBox Platform

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