Nigeria: Athletic Footwear Market 2024

Athletic Footwear Market Size in Nigeria

The Nigerien athletic footwear market soared to $X in 2022, rising by 49% 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). In general, consumption continues to indicate a resilient increase. Over the period under review, the market attained the maximum level in 2022 and is expected to retain growth in the immediate term.

Athletic Footwear Exports

Exports from Nigeria

After two years of growth, overseas shipments of athletic footwear decreased by -6.7% to X pairs in 2022. Over the period under review, exports, however, recorded a strong expansion. The most prominent rate of growth was recorded in 2020 with an increase of 321% against the previous year. Over the period under review, the exports attained the maximum at X pairs in 2021, and then contracted in the following year.

In value terms, athletic footwear exports shrank to $X in 2022. In general, exports, however, saw a remarkable increase. The most prominent rate of growth was recorded in 2016 with an increase of 233%. Over the period under review, the exports attained the peak figure at $X in 2021, and then reduced in the following year.

Exports by Country

Niger (X pairs), South Africa (X pairs) and Congo (X pairs) were the main destinations of athletic footwear exports from Nigeria, with a combined 53% share of total exports. Germany, Ireland, Cyprus, Gambia and the Netherlands lagged somewhat behind, together accounting for a further 22%.

From 2012 to 2022, the biggest increases were recorded for Cyprus (with a CAGR of +150.2%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, Niger ($X), Congo ($X) and Germany ($X) appeared to be the largest markets for athletic footwear exported from Nigeria worldwide, with a combined 57% share of total exports. Cyprus, South Africa, Ireland, the Netherlands and Gambia lagged somewhat behind, together accounting for a further 15%.

Cyprus, with a CAGR of +176.3%, 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 more modest paces of growth.

Export Prices by Country

The average athletic footwear export price stood at $X per pair in 2022, remaining constant against the previous year. Overall, the export price saw a relatively flat trend pattern. The pace of growth appeared the most rapid in 2018 an increase of 84%. Over the period under review, the average export prices reached the peak figure at $X per pair in 2019; however, from 2020 to 2022, the export prices remained at a lower figure.

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

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to the Netherlands (+12.8%), while the prices for the other major destinations experienced mixed trend patterns.

Athletic Footwear Imports

Imports into Nigeria

In 2022, the amount of athletic footwear imported into Nigeria soared to X pairs, rising by 91% on 2021. Overall, imports continue to indicate a prominent increase. The pace of growth was the most pronounced in 2018 with an increase of 161%. Over the period under review, imports hit record highs in 2022 and are likely to see gradual growth in years to come.

In value terms, athletic footwear imports soared to $X in 2022. Over the period under review, imports showed prominent growth. The most prominent rate of growth was recorded in 2018 when imports increased by 191% against the previous year. Imports peaked in 2022 and are likely to continue growth in the immediate term.

Imports by Country

In 2022, China (X pairs) constituted the largest athletic footwear supplier to Nigeria, with a 36% share of total imports. Moreover, athletic footwear imports from China exceeded the figures recorded by the second-largest supplier, India (X pairs), threefold. The third position in this ranking was held by the United States (X pairs), with an 11% share.

From 2012 to 2022, the average annual rate of growth in terms of volume from China totaled +2.6%. The remaining supplying countries recorded the following average annual rates of imports growth: India (+87.7% per year) and the United States (+36.2% per year).

In value terms, China ($X) constituted the largest supplier of athletic footwear to Nigeria, comprising 40% of total imports. The second position in the ranking was held by India ($X), with a 13% share of total imports. It was followed by the United States, with an 11% share.

From 2012 to 2022, the average annual rate of growth in terms of value from China totaled +5.3%. The remaining supplying countries recorded the following average annual rates of imports growth: India (+89.1% per year) and the United States (+37.9% per year).

Import Prices by Country

The average athletic footwear import price stood at $X per pair in 2022, waning by -27.5% against the previous year. Over the period from 2012 to 2022, it increased at an average annual rate of +1.6%. The pace of growth was the most pronounced in 2020 an increase of 15% against the previous year. Over the period under review, average import prices reached the peak figure at $X per pair in 2021, and then fell significantly in the following year.

Average prices varied somewhat amongst the major supplying countries. In 2022, amid the top importers, the countries with the highest prices were China ($X per pair) and the United States ($X per pair), while the price for Italy ($X per pair) and the United Arab Emirates ($X per pair) were amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by China (+2.6%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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