Nigeria - Extracts, Essences And Concentrates Of Tea Or Mate - Market Analysis, Forecast, Size, Trends And Insights
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View PricingExtracts of Tea Price in Nigeria - 2022
Contents:
- Extracts of Tea Price in Nigeria (CIF) - 2022
- Extracts of Tea Price in Nigeria (FOB) - 2022
- Extracts of Tea Imports in Nigeria
- Extracts of Tea Exports in Nigeria
Extracts of Tea Price in Nigeria (CIF) - 2022
In 2022, the average extracts of tea import price amounted to $2,223 per ton, with a decrease of -26.8% against the previous year. In general, the import price, however, enjoyed a modest expansion. The most prominent rate of growth was recorded in 2016 an increase of 187%. As a result, import price reached the peak level of $10,316 per ton. From 2017 to 2022, the average import prices failed to regain momentum.
As there is only one major supplying country, the average price level is determined by prices for the United Arab Emirates.
From 2012 to 2022, the rate of growth in terms of prices for South Africa amounted to +21.2% per year.
Extracts of Tea Price in Nigeria (FOB) - 2022
The average extracts of tea export price stood at $1,835 per ton in 2022, picking up by 11% against the previous year. In general, the export price, however, continues to indicate a deep downturn. The most prominent rate of growth was recorded in 2019 an increase of 18% against the previous year. The export price peaked at $5,351 per ton in 2012; however, from 2013 to 2022, the export prices stood at a somewhat lower figure.
As there is only one major export destination, the average price level is determined by prices for the United States.
From 2012 to 2022, the rate of growth in terms of prices for Austria amounted to -5.8% per year.
Extracts of Tea Imports in Nigeria
In 2022, imports of extracts, essences and concentrates of tea or mate into Nigeria stood at 48 tons, approximately mirroring 2021. Over the period under review, imports, however, recorded a precipitous setback. The pace of growth was the most pronounced in 2020 with an increase of 20% against the previous year. As a result, imports reached the peak of 154 tons. From 2021 to 2022, the growth of imports remained at a somewhat lower figure.
In value terms, extracts of tea imports fell remarkably to $107K in 2022. In general, imports, however, continue to indicate a sharp shrinkage. The pace of growth was the most pronounced in 2020 with an increase of 4.2% against the previous year. As a result, imports reached the peak of $581K. From 2021 to 2022, the growth of imports failed to regain momentum.
| Import of Extracts of Tea in Nigeria (Thousand USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| United Arab Emirates | 39.4 | 52.4 | 45.1 | 107 | 39.5% |
| Sri Lanka | N/A | N/A | 40.2 | N/A | 0% |
| China | 445 | 256 | 17.4 | N/A | -80.2% |
| Ethiopia | N/A | 11.3 | N/A | N/A | 0% |
| Singapore | 41.7 | N/A | N/A | N/A | 0% |
| South Africa | 12.2 | 3.9 | N/A | N/A | -68.0% |
| Others | 20.2 | 258 | 42.8 | N/A | 45.6% |
| Total | 558 | 581 | 146 | 107 | -42.3% |
Top Suppliers of Extracts of Tea to Nigeria in 2022:
- United Arab Emirates (48.0 tons)
Extracts of Tea Exports in Nigeria
In 2022, after three years of growth, there was decline in shipments abroad of extracts, essences and concentrates of tea or mate, when their volume decreased by -4.7% to 76 tons. Over the period under review, exports, however, saw significant growth. The most prominent rate of growth was recorded in 2020 when exports increased by 118%.
In value terms, extracts of tea exports expanded significantly to $139K in 2022. In general, total exports indicated strong growth from 2019 to 2022: its value increased at an average annual rate of +19.1% over the last three years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, exports decreased by -5.0% against 2020 indices. The pace of growth was the most pronounced in 2020 with an increase of 78% against the previous year. As a result, the exports reached the peak of $146K. From 2021 to 2022, the growth of the exports failed to regain momentum.
| Export of Extracts of Tea in Nigeria (Thousand USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| United States | 35.9 | 128 | 130 | 138 | 56.6% |
| Austria | 44.2 | N/A | N/A | N/A | 0% |
| United Kingdom | N/A | 14.5 | N/A | N/A | 0% |
| Others | 2.1 | 3.5 | 1.5 | 0.3 | -47.7% |
| Total | 82.2 | 146 | 131 | 139 | 19.1% |
Top Export Markets for Extracts of Tea from Nigeria in 2022:
- United States (75.6 tons)
This report provides an in-depth analysis of the extracts of tea 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 10831400 - Extracts, essences and concentrates of tea or mate, and preparations with a basis of these extracts, essences or concentrates, or with a basis of tea or mate
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.
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1. INTRODUCTION
Making Data-Driven Decisions to Grow Your Business
- REPORT DESCRIPTION
- RESEARCH METHODOLOGY AND AI PLATFORM
- DATA-DRIVEN DECISIONS FOR YOUR BUSINESS
- GLOSSARY AND SPECIFIC TERMS
-
2. EXECUTIVE SUMMARY
A Quick Overview of Market Performance
- KEY FINDINGS
- MARKET TRENDS This Chapter is Available Only for the Professional Edition PRO
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3. MARKET OVERVIEW
Understanding the Current State of The Market and Its Prospects
- MARKET SIZE
- MARKET STRUCTURE
- TRADE BALANCE
- PER CAPITA CONSUMPTION
- MARKET FORECAST TO 2030
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4. MOST PROMISING PRODUCT
Finding New Products to Diversify Your Business
This Chapter is Available Only for the Professional Edition PRO- TOP PRODUCTS TO DIVERSIFY YOUR BUSINESS
- BEST-SELLING PRODUCTS
- MOST CONSUMED PRODUCT
- MOST TRADED PRODUCT
- MOST PROFITABLE PRODUCT FOR EXPORT
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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- TOP COUNTRIES TO SOURCE YOUR PRODUCT
- TOP PRODUCING COUNTRIES
- TOP EXPORTING COUNTRIES
- LOW-COST EXPORTING COUNTRIES
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6. MOST PROMISING OVERSEAS MARKETS
Choosing the Best Countries to Boost Your Exports
This Chapter is Available Only for the Professional Edition PRO- TOP OVERSEAS MARKETS FOR EXPORTING YOUR PRODUCT
- TOP CONSUMING MARKETS
- UNSATURATED MARKETS
- TOP IMPORTING MARKETS
- MOST PROFITABLE MARKETS
7. PRODUCTION
The Latest Trends and Insights into The Industry
- PRODUCTION VOLUME AND VALUE
8. IMPORTS
The Largest Import Supplying Countries
- IMPORTS FROM 2012–2023
- IMPORTS BY COUNTRY
- IMPORT PRICES BY COUNTRY
9. EXPORTS
The Largest Destinations for Exports
- EXPORTS FROM 2012–2023
- EXPORTS BY COUNTRY
- EXPORT PRICES BY COUNTRY
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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
- Key Findings In 2023
- Market Volume, In Physical Terms, 2012–2023
- Market Value, 2012–2023
- Per Capita Consumption In 2012-2023
- Imports, In Physical Terms, By Country, 2012–2023
- Imports, In Value Terms, By Country, 2012–2023
- Import Prices, By Country Of Origin, 2012–2023
- Exports, In Physical Terms, By Country, 2012–2023
- Exports, In Value Terms, By Country, 2012–2023
- Export Prices, By Country Of Destination, 2012–2023
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LIST OF FIGURES
- Market Volume, In Physical Terms, 2012–2023
- Market Value, 2012–2023
- Market Structure – Domestic Supply vs. Imports, In Physical Terms, 2012-2023
- Market Structure – Domestic Supply vs. Imports, In Value Terms, 2012-2023
- Trade Balance, In Physical Terms, 2012-2023
- Trade Balance, In Value Terms, 2012-2023
- Per Capita Consumption, 2012-2023
- Market Volume Forecast to 2030
- Market Value Forecast to 2030
- Products: Market Size And Growth, By Type
- Products: Average Per Capita Consumption, By Type
- Products: Exports And Growth, By Type
- Products: Export Prices And Growth, By Type
- Production Volume And Growth
- Exports And Growth
- Export Prices And Growth
- Market Size And Growth
- Per Capita Consumption
- Imports And Growth
- Import Prices
- Production, In Physical Terms, 2012–2023
- Production, In Value Terms, 2012–2023
- Imports, In Physical Terms, 2012–2023
- Imports, In Value Terms, 2012–2023
- Imports, In Physical Terms, By Country, 2023
- Imports, In Physical Terms, By Country, 2012–2023
- Imports, In Value Terms, By Country, 2012–2023
- Import Prices, By Country Of Origin, 2012–2023
- Exports, In Physical Terms, 2012–2023
- Exports, In Value Terms, 2012–2023
- Exports, In Physical Terms, By Country, 2023
- Exports, In Physical Terms, By Country, 2012–2023
- Exports, In Value Terms, By Country, 2012–2023
- Export Prices, By Country Of Destination, 2012–2023
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