Report Update: Apr 1, 2024

Nigeria - Polishes And Creams For Footwear Or Leather - Market Analysis, Forecast, Size, Trends And Insights

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Footwear Treatments Price in Nigeria - 2022

Footwear Treatments Price in Nigeria (CIF) - 2022

In 2022, the average footwear treatments import price amounted to $1,621 per ton, increasing by 16% against the previous year. Over the period under review, the import price showed a resilient expansion. The growth pace was the most rapid in 2014 an increase of 518% against the previous year. Over the period under review, average import prices attained the peak figure at $7,017 per ton in 2015; however, from 2016 to 2022, 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 South Africa ($6,875 per ton), while the price for China ($928 per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Turkey (+10.8%), while the prices for the other major suppliers experienced more modest paces of growth.

Footwear Treatments Price in Nigeria (FOB) - 2022

The average footwear treatments export price stood at $834 per ton in 2022, growing by 5.8% against the previous year. Over the period under review, the export price, however, recorded a perceptible decrease. The growth pace was the most rapid in 2013 when the average export price increased by 45%. Over the period under review, the average export prices hit record highs at $1,603 per ton in 2014; however, from 2015 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 Ghana ($15,324 per ton), while the average price for exports to Burkina Faso ($172 per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Ghana (+26.9%), while the prices for the other major destinations experienced more modest paces of growth.

Footwear Treatments Imports in Nigeria

In 2022, purchases abroad of polishes and creams for footwear or leather decreased by -26.8% to 1.5K tons, falling for the second year in a row after two years of growth. Over the period under review, imports, however, continue to indicate a resilient increase. The most prominent rate of growth was recorded in 2020 with an increase of 145%. As a result, imports attained the peak of 3.1K tons. From 2021 to 2022, the growth of imports remained at a lower figure.

In value terms, footwear treatments imports dropped remarkably to $2.4M in 2022. Overall, imports, however, saw a significant expansion. The growth pace was the most rapid in 2020 when imports increased by 218%. As a result, imports reached the peak of $4.2M. From 2021 to 2022, the growth of imports remained at a somewhat lower figure.

Import of Footwear Treatments in Nigeria (Thousand USD)
COUNTRY	2019	2020	2021	2022	CAGR, 2019-2022
South Africa	16.4	17.4	1,233	1,078	303.6%
China	449	985	351	591	9.6%
Turkey	127	480	254	395	46.0%
Spain	123	826	566	116	-1.9%
Others	614	1,919	384	188	-32.6%
Total	1,328	4,228	2,788	2,367	21.2%

Top Suppliers of Footwear Treatments to Nigeria in 2022:

China (636.7 tons)
Turkey (325.2 tons)
South Africa (156.7 tons)
Spain (106.5 tons)

Footwear Treatments Exports in Nigeria

In 2022, approx. 37 tons of polishes and creams for footwear or leather were exported from Nigeria; which is down by -36.6% against the year before. Overall, exports faced a sharp setback. The most prominent rate of growth was recorded in 2021 with an increase of 298% against the previous year.

In value terms, footwear treatments exports fell significantly to $31K in 2022. In general, exports showed a precipitous curtailment. The most prominent rate of growth was recorded in 2021 with an increase of 192% against the previous year.

Export of Footwear Treatments in Nigeria (Thousand USD)
COUNTRY	2019	2020	2021	2022	CAGR, 2019-2022
Cameroon	47.3	5.7	17.3	12.3	-36.2%
Ghana	32.6	3.9	11.4	8.0	-37.4%
Rwanda	26.7	3.7	8.5	4.4	-45.2%
Congo	2.9	0.2	4.8	3.3	4.4%
Mozambique	3.5	0.5	1.6	1.3	-28.1%
Burkina Faso	1.2	0.1	0.4	0.3	-37.0%
Angola	1.2	0.1	0.2	0.1	-56.3%
Others	9.6	1.8	2.1	1.5	-46.1%
Total	125	15.9	46.5	31.2	-37.0%

Top Export Markets for Footwear Treatments from Nigeria in 2022:

Cameroon (27.3 tons)
Congo (3.5 tons)
Rwanda (1.8 tons)
Burkina Faso (1.5 tons)
Mozambique (1.0 tons)
Ghana (0.5 tons)
Angola (0.3 tons)

Source: IndexBox Market Intelligence Platform

This report provides an in-depth analysis of the footwear treatments 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 20414330 - Polishes, creams and similar preparations, for footwear or leather (excluding artificial and prepared waxes)

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