Report Update Nov 1, 2024

Nigeria - Wine - Market Analysis, Forecast, Size, Trends and Insights

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Nigeria: Wine Market 2024

Wine Market Size in Nigeria

The Nigerien wine market plummeted to $X in 2021, waning by -31.5% 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 showed a abrupt decline. Over the period under review, the market attained the maximum level at $X in 2012; however, from 2013 to 2021, consumption remained at a lower figure.

Wine Exports

Exports from Nigeria

In 2021, wine exports from Nigeria dropped sharply to X litres, reducing by -39.6% on the previous year's figure. Over the period under review, exports, however, enjoyed a buoyant increase. The growth pace was the most rapid in 2013 with an increase of 12,393% against the previous year. As a result, the exports reached the peak of X litres. From 2014 to 2021, the growth of the exports remained at a somewhat lower figure.

In value terms, wine exports soared to $X in 2021. In general, exports, however, recorded strong growth. The growth pace was the most rapid in 2013 with an increase of 3,182% against the previous year. As a result, the exports reached the peak of $X. From 2014 to 2021, the growth of the exports failed to regain momentum.

Exports by Country

Benin (X litres), the UK (X litres) and Cote d'Ivoire (X litres) were the main destinations of wine exports from Nigeria, together accounting for 83% of total exports.

From 2012 to 2021, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by Cote d'Ivoire (with a CAGR of +93.8%), while the other leaders experienced more modest paces of growth.

In value terms, Macao SAR ($X) emerged as the key foreign market for wine exports from Nigeria, comprising 70% of total exports. The second position in the ranking was held by Cote d'Ivoire ($X), with a 10% share of total exports. It was followed by Benin, with a 5% share.

From 2012 to 2021, the average annual rate of growth in terms of value to Macao SAR stood at +106.0%. Exports to the other major destinations recorded the following average annual rates of exports growth: Cote d'Ivoire (+43.5% per year) and Benin (+14.3% per year).

Export Prices by Country

The average wine export price stood at $X per litre in 2021, rising by 110% against the previous year. In general, the export price saw perceptible growth. As a result, the export price reached the peak level and is likely to continue growth in the immediate term.

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

From 2012 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to Belgium (+345.3%), while the prices for the other major destinations experienced more modest paces of growth.

Wine Imports

Imports into Nigeria

In 2021, wine imports into Nigeria declined rapidly to X litres, reducing by -46.3% compared with the previous year. Over the period under review, imports showed a deep downturn. The most prominent rate of growth was recorded in 2019 when imports increased by 241%. Over the period under review, imports attained the peak figure at X litres in 2012; however, from 2013 to 2021, imports remained at a lower figure.

In value terms, wine imports shrank to $X in 2021. Overall, imports recorded a abrupt downturn. The growth pace was the most rapid in 2019 when imports increased by 172% against the previous year. Over the period under review, imports reached the maximum at $X in 2012; however, from 2013 to 2021, imports stood at a somewhat lower figure.

Imports by Country

In 2021, the United States (X litres) constituted the largest wine supplier to Nigeria, accounting for a 40% share of total imports. Moreover, wine imports from the United States exceeded the figures recorded by the second-largest supplier, Spain (X litres), eightfold. Italy (X litres) ranked third in terms of total imports with a 1.5% share.

From 2012 to 2021, the average annual rate of growth in terms of volume from the United States totaled -13.5%. The remaining supplying countries recorded the following average annual rates of imports growth: Spain (-24.9% per year) and Italy (-22.1% per year).

In value terms, the United States ($X) constituted the largest supplier of wine to Nigeria, comprising 12% of total imports. The second position in the ranking was held by the Netherlands ($X), with a 4.2% share of total imports. It was followed by Spain, with a 2.4% share.

From 2012 to 2021, the average annual growth rate of value from the United States amounted to -22.5%. The remaining supplying countries recorded the following average annual rates of imports growth: the Netherlands (-6.0% per year) and Spain (-25.4% per year).

Import Prices by Country

In 2021, the average wine import price amounted to $X per litre, jumping by 74% against the previous year. Over the period under review, the import price posted a resilient increase. Over the period under review, average import prices attained the peak figure at $X per litre in 2015; however, from 2016 to 2021, 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 the Netherlands ($X per litre), while the price for China ($X per litre) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by the Netherlands (+5.2%), 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 wine in the world?

The countries with the highest volumes of in 2021 were the United States, France and Italy, together accounting for 39% of global consumption.

What are the largest producers of wine in the world?

The countries with the highest volumes of in 2021 were Italy, France and the United States, with a combined 46% share of global production.

What are the leading suppliers of wine to Nigeria?

In value terms, the United States constituted the largest supplier of wine to Nigeria, comprising 56% of total imports. The second position in the ranking was occupied by Spain, with a 12% share of total imports. It was followed by Italy, with a 7.5% share.

What is the average export price for wine in Nigeria?

The average wine export price stood at $0.6 per litre in 2021, declining by -93.8% against the previous year.

What is the average import price for wine in Nigeria?

The average wine import price stood at $2.4 per litre in 2021, with an increase of 13% against the previous year.

This report provides an in-depth analysis of the wine 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:

FCL 564 - Wine

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