Report Update: May 1, 2024

Nigeria - Lactose And Lactose Syrup - Market Analysis, Forecast, Size, Trends And Insights

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Lactose Price in Nigeria - 2022

Lactose Price in Nigeria (CIF) - 2022

The average lactose import price stood at $1,358 per ton in 2022, increasing by 8.6% against the previous year. Over the period under review, the import price, however, continues to indicate a pronounced decrease. The pace of growth appeared the most rapid in 2021 an increase of 32% against the previous year. The import price peaked at $1,794 per ton in 2014; however, from 2015 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 Brazil ($2,011 per ton), while the price for Argentina ($594 per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Ireland (+6.4%), while the prices for the other major suppliers experienced more modest paces of growth.

Lactose Price in Nigeria (FOB) - 2022

The average lactose export price stood at $4,182 per ton in 2022, growing by 6.1% against the previous year. In general, the export price showed a measured increase. The growth pace was the most rapid in 2018 an increase of 101% against the previous year. Over the period under review, the average export prices hit record highs in 2022 and is likely to see gradual growth in the immediate term.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Benin ($4,444 per ton), while the average price for exports to South Africa ($563 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 (+82.2%), while the prices for the other major destinations experienced more modest paces of growth.

Lactose Imports in Nigeria

In 2022, overseas purchases of lactose and lactose syrup decreased by -66.8% to 1.9K tons, falling for the second consecutive year after two years of growth. In general, imports saw a significant contraction. The pace of growth was the most pronounced in 2020 with an increase of 19%. As a result, imports reached the peak of 14K tons. From 2021 to 2022, the growth of imports remained at a lower figure.

In value terms, lactose imports shrank dramatically to $2.5M in 2022. Overall, imports faced a precipitous slump. The pace of growth appeared the most rapid in 2020 with an increase of 16% against the previous year. As a result, imports reached the peak of $13M. From 2021 to 2022, the growth of imports remained at a somewhat lower figure.

Import of Lactose in Nigeria (Thousand USD)
COUNTRY	2019	2020	2021	2022	CAGR, 2019-2022
Brazil	6,481	7,293	3,688	1,257	-42.1%
China	178	245	184	174	-0.8%
Spain	91.3	180	159	173	23.7%
New Zealand	733	574	175	169	-38.7%
United States	953	946	500	165	-44.3%
Turkey	567	981	410	72.1	-49.7%
Argentina	154	161	179	60.1	-26.9%
Netherlands	141	223	173	59.9	-24.8%
Ireland	217	303	88.6	53.7	-37.2%
Germany	108	281	133	42.7	-26.6%
United Arab Emirates	88.0	201	98.3	32.2	-28.5%
Others	1,694	1,886	1,289	289	-44.5%
Total	11,404	13,275	7,075	2,548	-39.3%

Top Suppliers of Lactose to Nigeria in 2022:

Brazil (625.1 tons)
United States (183.3 tons)
China (179.0 tons)
Spain (178.2 tons)
New Zealand (162.6 tons)
Argentina (101.2 tons)
Turkey (69.5 tons)
Ireland (48.6 tons)
Germany (40.4 tons)
Netherlands (39.3 tons)
United Arab Emirates (38.9 tons)

Lactose Exports in Nigeria

In 2022, lactose exports from Nigeria rose modestly to 2.5 tons, surging by 4.3% compared with the previous year's figure. The total export volume increased at an average annual rate of +4.1% over the period from 2019 to 2022; the trend pattern remained consistent, with somewhat noticeable fluctuations being observed throughout the analyzed period. The pace of growth appeared the most rapid in 2021 with an increase of 5.7%. Over the period under review, the exports attained the peak figure in 2022 and are expected to retain growth in the immediate term.

In value terms, lactose exports expanded sharply to $10K in 2022. The total export value increased at an average annual rate of +10.7% from 2019 to 2022; the trend pattern indicated some noticeable fluctuations being recorded in certain years. As a result, the exports attained the peak and are likely to continue growth in the immediate term.

Export of Lactose in Nigeria (Thousand USD)
COUNTRY	2019	2020	2021	2022	CAGR, 2019-2022
Benin	4.3	6.9	8.8	9.8	31.6%
Niger	2.5	1.3	0.5	0.5	-41.5%
Ireland	0.8	0.2	0.1	N/A	-64.6%
South Africa	0.1	N/A	N/A	N/A	0%
Others	N/A	N/A	N/A	N/A	0%
Total	7.6	8.4	9.4	10.4	11.0%

Top Export Markets for Lactose from Nigeria in 2022:

Benin (2196.0 kg)
Niger (239.0 kg)
South Africa (32.0 kg)
Ireland (7.0 kg)

Source: IndexBox Market Intelligence Platform

This report provides an in-depth analysis of the lactose 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 10515400 - Lactose and lactose syrup (including chemically pure lactose)

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