Nigeria - Sardines (Prepared Or Preserved) - Market Analysis, Forecast, Size, Trends And Insights
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View PricingPreserved Sardines Price in Nigeria - 2022
Contents:
- Preserved Sardines Price in Nigeria (CIF) - 2022
- Preserved Sardines Price in Nigeria (FOB) - 2022
- Preserved Sardines Imports in Nigeria
- Preserved Sardines Exports in Nigeria
Preserved Sardines Price in Nigeria (CIF) - 2022
The average preserved sardines import price stood at $504 per ton in 2022, declining by -13.5% against the previous year. In general, the import price recorded a abrupt slump. The pace of growth appeared the most rapid in 2015 an increase of 44% against the previous year. Over the period under review, average import prices hit record highs at $2,098 per ton in 2016; however, from 2017 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 Australia ($2,172 per ton), while the price for Morocco ($101 per ton) was amongst the lowest.
From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Australia (+6.0%), while the prices for the other major suppliers experienced a decline.
Preserved Sardines Price in Nigeria (FOB) - 2022
In 2022, the average preserved sardines export price amounted to $2,185 per ton, growing by 28% against the previous year. Overall, the export price continues to indicate strong growth. The most prominent rate of growth was recorded in 2013 an increase of 57%. The export price peaked in 2022 and is expected to retain growth in the immediate term.
There were significant differences in the average prices for the major export markets. In 2022, amid the top suppliers, the country with the highest price was the United States ($4,907 per ton), while the average price for exports to South Africa ($156 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 Niger (+5.3%), while the prices for the other major destinations experienced mixed trend patterns.
Preserved Sardines Imports in Nigeria
Preserved sardines imports into Nigeria soared to 4.8K tons in 2022, rising by 127% compared with the previous year's figure. Overall, imports recorded a significant increase. As a result, imports attained the peak and are likely to continue growth in the immediate term.
In value terms, preserved sardines imports skyrocketed to $2.4M in 2022. In general, imports enjoyed a significant increase.
| Import of Preserved Sardines in Nigeria (Thousand USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| Bangladesh | 854 | 1,651 | 789 | 1,346 | 16.4% |
| Australia | 411 | 794 | 380 | 649 | 16.4% |
| China | 58.2 | 76.1 | 23.7 | 356 | 82.9% |
| United Kingdom | 3.3 | 7.8 | 6.6 | 7.8 | 33.2% |
| Others | 47.3 | 53.6 | 24.0 | 45.1 | -1.6% |
| Total | 1,373 | 2,583 | 1,223 | 2,404 | 20.5% |
Top Suppliers of Preserved Sardines to Nigeria in 2022:
- Bangladesh (3189.8 tons)
- China (954.3 tons)
- Australia (298.6 tons)
- United Kingdom (75.1 tons)
Preserved Sardines Exports in Nigeria
For the third consecutive year, Nigeria recorded decline in overseas shipments of sardines (prepared or preserved), which decreased by -5.2% to 17 tons in 2022. In general, exports recorded a deep setback. The smallest decline of -4.2% was in 2020.
In value terms, preserved sardines exports surged to $38K in 2022. The total export value increased at an average annual rate of +1.4% over the period from 2019 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The most prominent rate of growth was recorded in 2020 when exports increased by 23% against the previous year. As a result, the exports attained the peak of $44K. From 2021 to 2022, the growth of the exports remained at a lower figure.
| Export of Preserved Sardines in Nigeria (Thousand USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| Benin | 3.1 | 4.1 | 6.8 | 10.0 | 47.8% |
| Cameroon | 5.4 | 5.1 | 4.2 | 5.5 | 0.6% |
| United States | N/A | N/A | N/A | 4.5 | 0% |
| Ghana | 1.3 | 1.5 | 1.5 | 2.5 | 24.4% |
| Ireland | 0.3 | 0.2 | 1.0 | 2.5 | 102.7% |
| Niger | 19.6 | 11.6 | 9.0 | 1.8 | -54.9% |
| South Africa | 1.3 | 1.1 | 0.4 | 0.3 | -38.7% |
| Cote d'Ivoire | N/A | 11.6 | N/A | N/A | 0% |
| Others | 5.0 | 9.1 | 8.1 | 10.6 | 28.5% |
| Total | 36.1 | 44.2 | 31.0 | 37.6 | 1.4% |
Top Export Markets for Preserved Sardines from Nigeria in 2022:
- Benin (6.4 tons)
- South Africa (1.7 tons)
- Cameroon (1.6 tons)
- Ghana (1.5 tons)
- Niger (1.4 tons)
- United States (0.9 tons)
- Ireland (0.9 tons)
This report provides an in-depth analysis of the preserved sardines 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 10202530 - Prepared or preserved sardines, sardinella, brisling and sprats, whole or in pieces (excluding minced products and prepared meals and dishes)
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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