Report Update: May 1, 2024

Nigeria - Frozen Fish Fillet - Market Analysis, Forecast, Size, Trends and Insights

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Frozen Fish Fillet Price in Nigeria - 2022

Frozen Fish Fillet Price in Nigeria (CIF) - 2022

In 2022, the average frozen fish fillet import price amounted to $4,373 per ton, picking up by 48% against the previous year. Overall, the import price, however, showed a slight shrinkage. The import price peaked at $4,838 per ton in 2012; however, from 2013 to 2022, import prices remained at a lower figure.

There were significant differences in the average prices amongst the major supplying countries. In 2022, amid the top importers, the country with the highest price was the Netherlands ($6,998 per ton), while the price for Faroe Islands ($1,153 per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by the Netherlands (+3.2%), while the prices for the other major suppliers experienced a decline.

Frozen Fish Fillet Price in Nigeria (FOB) - 2022

The average frozen fish fillet export price stood at $4,974 per ton in 2022, with a decrease of -14% against the previous year. Overall, the export price continues to indicate a slight downturn. The pace of growth was the most pronounced in 2016 when the average export price increased by 17%. Over the period under review, the average export prices attained the peak figure at $6,565 per ton in 2018; however, from 2019 to 2022, the export prices remained at a lower figure.

There were significant differences in the average prices for the major overseas markets. In 2022, amid the top suppliers, the country with the highest price was Luxembourg ($8,359 per ton), while the average price for exports to Belgium ($4,678 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 Germany (+2.5%), while the prices for the other major destinations experienced more modest paces of growth.

Frozen Fish Fillet Imports in Nigeria

Frozen fish fillet imports into Nigeria declined rapidly to 123 tons in 2022, which is down by -61.1% against 2021. Overall, imports saw a sharp decline. The most prominent rate of growth was recorded in 2021 when imports increased by 36% against the previous year.

In value terms, frozen fish fillet imports contracted notably to $536K in 2022. Over the period under review, imports saw a deep contraction. The pace of growth appeared the most rapid in 2021 when imports increased by 65%.

Import of Frozen Fish Fillet in Nigeria (Thousand USD)
COUNTRY	2019	2020	2021	2022	CAGR, 2019-2022
Vietnam	455	237	265	367	-6.9%
Netherlands	98.5	102	71.6	151	15.3%
Faroe Islands	N/A	N/A	N/A	11.5	0%
South Africa	65.3	27.5	143	4.7	-58.4%
Peru	123	N/A	N/A	N/A	0%
Iceland	31.1	N/A	N/A	N/A	0%
Others	220	198	449	2.3	-78.1%
Total	993	564	930	536	-18.6%

Top Suppliers of Frozen Fish Fillet to Nigeria in 2022:

Vietnam (89.8 tons)
Netherlands (21.6 tons)
Faroe Islands (10.0 tons)
South Africa (1.2 tons)

Frozen Fish Fillet Exports in Nigeria

Frozen fish fillet exports from Nigeria reduced dramatically to 88 tons in 2022, with a decrease of -26.6% on the year before. In general, exports saw a deep slump. The most prominent rate of growth was recorded in 2021 with an increase of 83%.

In value terms, frozen fish fillet exports declined significantly to $438K in 2022. Over the period under review, exports recorded a sharp decrease. The pace of growth was the most pronounced in 2021 when exports increased by 74%.

Export of Frozen Fish Fillet in Nigeria (Thousand USD)
COUNTRY	2019	2020	2021	2022	CAGR, 2019-2022
Belgium	174	167	334	181	1.3%
Germany	22.1	20.6	18.9	29.6	10.2%
Spain	75.5	1.4	N/A	12.3	-45.4%
Luxembourg	12.2	4.8	6.8	11.3	-2.5%
France	261	16.5	N/A	N/A	-93.7%
Others	360	188	334	204	-17.2%
Total	906	399	694	438	-21.5%

Top Export Markets for Frozen Fish Fillet from Nigeria in 2022:

Belgium (38.6 tons)
Germany (4.1 tons)
Spain (1.8 tons)
Luxembourg (1.3 tons)

Source: IndexBox Market Intelligence Platform

This report provides an in-depth analysis of the frozen fish fillet 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 10201400 - Frozen fish fillets

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