Nigeria - Evaporated And Condensed Milk - Market Analysis, Forecast, Size, Trends and Insights
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View PricingPrice for Evaporated and Condensed Milk in Nigeria - 2022
Contents:
- Price for Evaporated and Condensed Milk in Nigeria (CIF) - 2022
- Price for Evaporated and Condensed Milk in Nigeria (FOB) - 2022
- Imports of Evaporated and Condensed Milk in Nigeria
- Exports of Evaporated and Condensed Milk in Nigeria
Price for Evaporated and Condensed Milk in Nigeria (CIF) - 2022
The average evaporated and condensed milk import price stood at $932 per ton in 2022, waning by -6% against the previous year. Overall, the import price recorded a deep downturn. The most prominent rate of growth was recorded in 2019 when the average import price increased by 22%. Over the period under review, average import prices hit record highs at $1,809 per ton in 2014; however, from 2015 to 2022, import prices failed to regain momentum.
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 Denmark ($2,015 per ton), while the price for India ($265 per ton) was amongst the lowest.
From 2012 to 2022, the most notable rate of growth in terms of prices was attained by China (+2.6%), while the prices for the other major suppliers experienced a decline.
Price for Evaporated and Condensed Milk in Nigeria (FOB) - 2022
The average evaporated and condensed milk export price stood at $1,581 per ton in 2022, picking up by 16% against the previous year. Overall, the export price, however, continues to indicate a perceptible shrinkage. Over the period under review, the average export prices reached the peak figure at $2,349 per ton in 2012; however, from 2013 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 ($1,608 per ton), while the average price for exports to Cameroon totaled $344 per ton.
From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Ghana (-4.8%).
Imports of Evaporated and Condensed Milk in Nigeria
In 2022, supplies from abroad of evaporated and condensed milk was finally on the rise to reach 4.2K tons for the first time since 2019, thus ending a two-year declining trend. Overall, imports, however, showed a dramatic contraction.
In value terms, evaporated and condensed milk imports skyrocketed to $3.9M in 2022. Over the period under review, imports, however, saw a sharp curtailment.
| Import of Evaporated and Condensed Milk in Nigeria (Million USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| Germany | 0.2 | 0.3 | N/A | 1.4 | 91.3% |
| China | 0.1 | N/A | N/A | 1.4 | 141.0% |
| Denmark | 0.1 | N/A | N/A | 0.6 | 81.7% |
| India | N/A | N/A | N/A | 0.2 | 0% |
| Malaysia | N/A | N/A | N/A | 0.1 | 0% |
| Barbados | 11.4 | 6.9 | 1.7 | N/A | -61.4% |
| Bolivia | 0.9 | 0.4 | 0.1 | N/A | -66.7% |
| Belgium | 3.6 | 1.5 | 0.2 | N/A | -76.4% |
| Netherlands | 12.3 | 1.6 | 0.3 | N/A | -84.4% |
| Saudi Arabia | 0.5 | 0.6 | 0.3 | N/A | -22.5% |
| Others | 0.4 | 0.5 | 0.1 | 0.1 | -37.0% |
| Total | 29.5 | 11.9 | 2.8 | 3.9 | -49.1% |
Top Suppliers of Evaporated and Condensed Milk to Nigeria in 2022:
- Germany (1692.2 tons)
- China (1000.7 tons)
- India (866.0 tons)
- Denmark (321.2 tons)
- Malaysia (303.4 tons)
Exports of Evaporated and Condensed Milk in Nigeria
In 2022, overseas shipments of evaporated and condensed milk increased by 487% to 501 tons for the first time since 2019, thus ending a two-year declining trend. Overall, exports, however, showed a precipitous contraction.
In value terms, evaporated and condensed milk exports soared to $792K in 2022. In general, exports, however, continue to indicate a sharp descent.
| Export of Evaporated and Condensed Milk in Nigeria (Thousand USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| Ghana | 1,503 | 318 | 75.1 | 781 | -19.6% |
| Cote d'Ivoire | 100 | 30.9 | 8.4 | 5.3 | -62.4% |
| Cameroon | 28.7 | 10.4 | 0.6 | 3.5 | -50.4% |
| Togo | 40.4 | 8.4 | 0.5 | 0.4 | -78.5% |
| Burkina Faso | 8.6 | 4.2 | 1.7 | 0.1 | -77.3% |
| Others | 75.2 | 51.7 | 30.2 | 1.6 | -72.3% |
| Total | 1,756 | 423 | 116 | 792 | -23.3% |
Top Export Markets for Evaporated and Condensed Milk from Nigeria in 2022:
- Ghana (485.8 tons)
- Cameroon (10.3 tons)
- Cote d'Ivoire (1.3 tons)
- Togo (1.2 tons)
- Burkina Faso (1.0 tons)
This report provides an in-depth analysis of the market for evaporated and condensed milk 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:
- FCL 889 - Whole Milk, Condensed
- FCL 894 - Whole Milk, Evaporated
- FCL 895 - Skim Milk, Evaporated
- FCL 896 - Skim Milk, Condensed
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
- COUNTRIES WITH TOP YIELDS
- 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, PRODUCING ANIMALS AND YIELD
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
- Yield 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
- Producing Animals Slaughtered, 2012–2023
- Yield, 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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