Nigeria - Bananas - Market Analysis, Forecast, Size, Trends and Insights
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View PricingNigeria: Banana Market 2024
Banana Market Size in Nigeria
The Nigerien banana market was finally on the rise to reach $X in 2022, after two years of decline. In general, consumption, however, faced a sharp decline. Banana consumption peaked at $X in 2015; however, from 2016 to 2022, consumption failed to regain momentum.
Banana Production in Nigeria
In value terms, banana production contracted dramatically to $X in 2022 estimated in export price. Over the period under review, production, however, enjoyed a significant expansion. Over the period under review, production attained the maximum level at $X in 2021, and then dropped dramatically in the following year.
The average yield of bananas in Nigeria stood at less than X kg per ha in 2022, almost unchanged from 2021. Over the period under review, the yield saw a relatively flat trend pattern. Despite the increased use of modern agricultural techniques and methods, future yield figures may still be impacted by adverse weather conditions.
In 2022, the harvested area of bananas in Nigeria amounted to less than X ha, stabilizing at 2021 figures. In general, the harvested area continues to indicate a relatively flat trend pattern.
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Banana Exports
Exports from Nigeria
In 2022, overseas shipments of bananas decreased by X% to X tons, falling for the second year in a row after two years of growth. Overall, exports posted significant growth. The pace of growth appeared the most rapid in 2020 when exports increased by X% against the previous year. As a result, the exports reached the peak of X tons. From 2021 to 2022, the growth of the exports remained at a somewhat lower figure.
In value terms, banana exports amounted to $X in 2022. Over the period under review, exports posted a significant expansion. The most prominent rate of growth was recorded in 2020 when exports increased by X% against the previous year. As a result, the exports attained the peak of $X. From 2021 to 2022, the growth of the exports remained at a somewhat lower figure.
Exports by Country
Niger (X tons) was the main destination for banana exports from Nigeria, with a X% share of total exports. Moreover, banana exports to Niger exceeded the volume sent to the second major destination, Canada (X tons), fourfold. South Africa (X kg) ranked third in terms of total exports with a X% share.
From 2019 to 2022, the average annual rate of growth in terms of volume to Niger totaled X%. Exports to the other major destinations recorded the following average annual rates of exports growth: Canada (X% per year) and South Africa (X% per year).
It was followed by Canada, with a X% share.
From 2019 to 2022, the average annual rate of growth in terms of value to Niger stood at X%. Exports to the other major destinations recorded the following average annual rates of exports growth: Germany (X% per year) and Canada (X% per year).
Export Prices by Country
In 2022, the average banana export price amounted to $X per ton, stabilizing at the previous year. In general, the export price showed a dramatic downturn. The pace of growth was the most pronounced in 2020 a decrease of X%. The export price peaked at $X per ton in 2019; however, from 2020 to 2022, the export prices remained at a lower figure.
There were significant differences in the average prices for the major export markets. In 2022, amid the top suppliers, the country with the highest price was Georgia ($X per ton), while the average price for exports to South Africa ($X per ton) was amongst the lowest.
From 2019 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Georgia (X%), while the prices for the other major destinations experienced a decline.
Banana Imports
Imports into Nigeria
In 2022, approx. X tons of bananas were imported into Nigeria; almost unchanged from 2021. Over the period under review, imports saw a sharp shrinkage. The most prominent rate of growth was recorded in 2018 when imports increased by X% against the previous year. As a result, imports reached the peak of X tons. From 2019 to 2022, the growth of imports remained at a lower figure.
In value terms, banana imports stood at $X in 2022. In general, imports recorded a precipitous shrinkage. The most prominent rate of growth was recorded in 2019 with an increase of X% against the previous year. Imports peaked at $X in 2015; however, from 2016 to 2022, imports failed to regain momentum.
Imports by Country
In 2022, Cameroon (X tons) was the main banana supplier to Nigeria, accounting for a approx. X% share of total imports.
From 2015 to 2022, the average annual rate of growth in terms of volume from Cameroon totaled X%.
In value terms, Cameroon ($X) constituted the largest supplier of bananas to Nigeria.
From 2015 to 2022, the average annual rate of growth in terms of value from Cameroon stood at X%.
Import Prices by Country
The average banana import price stood at $X per ton in 2022, remaining constant against the previous year. In general, the import price enjoyed buoyant growth. The pace of growth appeared the most rapid in 2019 an increase of X% against the previous year. The import price peaked in 2022 and is expected to retain growth in years to come.
As there is only one major supplying country, the average price level is determined by prices for Cameroon.
From 2015 to 2022, the rate of growth in terms of prices for Cameroon amounted to X% per year.
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Frequently Asked Questions (FAQ) :
This report provides an in-depth analysis of the banana 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:
- FCL 486 - Bananas
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
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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, HARVESTED AREA 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
- Area Harvested, 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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