Report Update: May 1, 2024

Nigeria - Sauces and Seasonings - Market Analysis, Forecast, Size, Trends And Insights

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Sauce and Seasoning Price in Nigeria - 2022

Sauce and Seasoning Price in Nigeria (CIF) - 2022

The average sauce and seasoning import price stood at $2,346 per ton in 2022, declining by -21.7% against the previous year. Over the period from 2012 to 2022, it increased at an average annual rate of +2.6%. The most prominent rate of growth was recorded in 2014 an increase of 34% against the previous year. As a result, import price reached the peak level of $3,059 per ton. From 2015 to 2022, the average import prices failed to regain momentum.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was the UK ($6,835 per ton), while the price for India ($727 per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by the UK (+13.7%), while the prices for the other major suppliers experienced more modest paces of growth.

Sauce and Seasoning Price in Nigeria (FOB) - 2022

In 2022, the average sauce and seasoning export price amounted to $889 per ton, declining by -42% against the previous year. Over the period under review, the export price saw a abrupt shrinkage. The pace of growth was the most pronounced in 2014 when the average export price increased by 56%. As a result, the export price reached the peak level of $3,018 per ton. From 2015 to 2022, the average export prices failed to regain momentum.

Average prices varied noticeably for the major external markets. In 2022, amid the top suppliers, the country with the highest price was the United States ($949 per ton), while the average price for exports to Ghana totaled $855 per ton.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Spain (+44.1%), while the prices for the other major destinations experienced a decline.

Sauce and Seasoning Imports in Nigeria

In 2022, the amount of sauces and seasonings imported into Nigeria surged to 59K tons, rising by 166% on 2021 figures. In general, imports saw a buoyant expansion. As a result, imports reached the peak and are likely to continue growth in the immediate term.

In value terms, sauce and seasoning imports skyrocketed to $138M in 2022. Over the period under review, imports showed significant growth. As a result, imports reached the peak and are likely to continue growth in the immediate term.

Import of Sauce and Seasoning in Nigeria (Million USD)
COUNTRY	2019	2020	2021	2022	CAGR, 2019-2022
Indonesia	37.0	67.5	40.1	77.1	27.7%
South Africa	5.8	5.6	8.2	13.4	32.2%
China	7.2	11.9	4.8	12.7	20.8%
United States	13.4	2.1	0.4	8.4	-14.4%
India	0.9	4.0	2.1	3.7	60.2%
Netherlands	2.3	0.6	2.0	3.3	12.8%
Spain	1.9	2.0	1.8	3.1	17.7%
Senegal	1.2	3.8	0.1	2.7	31.0%
United Arab Emirates	0.9	1.3	0.9	1.6	21.1%
South Korea	1.0	1.0	0.2	1.2	6.3%
Others	5.6	8.1	6.0	11.2	26.0%
Total	77.4	108	66.5	138	21.3%

Top Suppliers of Sauce and Seasoning to Nigeria in 2022:

Indonesia (17.0K tons)
China (11.4K tons)
United States (6.4K tons)
South Africa (5.3K tons)
India (5.1K tons)
Spain (3.2K tons)
United Arab Emirates (2.0K tons)
South Korea (1.2K tons)
Netherlands (1.0K tons)
Senegal (1.0K tons)

Sauce and Seasoning Exports in Nigeria

In 2022, after three years of growth, there was significant decline in shipments abroad of sauces and seasonings, when their volume decreased by -86.5% to 809 tons. Over the period under review, exports saw a abrupt shrinkage. The growth pace was the most rapid in 2021 with an increase of 307% against the previous year. As a result, the exports reached the peak of 6K tons, and then reduced dramatically in the following year.

In value terms, sauce and seasoning exports fell remarkably to $719K in 2022. Overall, exports saw a significant contraction. The most prominent rate of growth was recorded in 2021 when exports increased by 188%. As a result, the exports reached the peak of $9.2M, and then shrank markedly in the following year.

Export of Sauce and Seasoning in Nigeria (Million USD)
COUNTRY	2019	2020	2021	2022	CAGR, 2019-2022
Ghana	1.9	2.7	8.3	0.7	-28.3%
Benin	0.2	N/A	0.1	N/A	-29.3%
Philippines	N/A	N/A	0.1	N/A	0%
Others	0.6	0.5	0.7	0.1	-45.0%
Total	2.6	3.2	9.2	0.7	-35.4%

Top Export Markets for Sauce and Seasoning from Nigeria in 2022:

Ghana (782.0 tons)

Source: IndexBox Market Intelligence Platform

This report provides an in-depth analysis of the sauce and seasoning 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 10841210 - Soya sauce
Prodcom 10841230 - Tomato ketchup and other tomato sauces
Prodcom 10841253 - Mustard flour and meal
Prodcom 10841255 - Prepared mustard
Prodcom 10841270 - Sauces and preparations therefor, mixed condiments and mixed seasonings (excluding soya sauce, tomato ketchup, o ther tomato sauces, mustard flour or meal and prepared mustard)

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