Report Nigeria - Bananas - Market Analysis, Forecast, Size, Trends and Insights for 499$
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Nigeria - Bananas - Market Analysis, Forecast, Size, Trends and Insights
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Nigeria: Banana And Plantain Market 2022

Banana And Plantain Market Size in Nigeria

In 2021, after five years of growth, there was decline in the Nigerien banana and plantain market, when its value decreased by -X% to $X. In general, the total consumption indicated tangible growth from 2012 to 2021: its value increased at an average annual rate of +X% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, consumption increased by +X% against 2013 indices. Over the period under review, the market hit record highs at $X in 2020, and then contracted slightly in the following year.

Banana And Plantain Production in Nigeria

In value terms, banana and plantain production dropped to $X in 2021 estimated in export prices. Overall, production continues to indicate a noticeable increase. The pace of growth was the most pronounced in 2019 when the production volume increased by X% y-o-y. Over the period under review, production reached the peak level at $X in 2020, and then contracted in the following year.

In 2021, the average banana and plantain yield in Nigeria dropped to X tonnes per ha, standing approx. at 2020 figures. Over the period under review, the yield, however, showed a relatively flat trend pattern. The most prominent rate of growth was recorded in 2016 when the yield increased by X% y-o-y. As a result, the yield attained the peak level of X tonnes per ha. From 2017 to 2021, the growth of the average banana and plantain yield remained at a somewhat lower figure. Despite the increased use of modern agricultural techniques and methods, future yield figures may still be impacted by adverse weather conditions.

In 2021, approx. X ha of bananas and plantains were harvested in Nigeria; almost unchanged from the previous year's figure. Overall, the harvested area recorded a relatively flat trend pattern. The pace of growth was the most pronounced in 2015 when the harvested area increased by X% year-to-year. As a result, the harvested area attained the peak level of X ha. From 2016 to 2021, the growth of the banana and plantain harvested area failed to regain momentum.

Banana And Plantain Exports

Exports from Nigeria

In 2021, overseas shipments of bananas and plantains decreased by -X% to X tonnes for the first time since 2017, thus ending a three-year rising trend. In general, exports faced a deep slump. The most prominent rate of growth was recorded in 2020 with an increase of X% against the previous year. As a result, the exports attained the peak of X tonnes, and then contracted sharply in the following year.

In value terms, banana and plantain exports dropped rapidly to $X in 2021. Over the period under review, exports continue to indicate mild growth. The pace of growth appeared the most rapid in 2020 with an increase of X% y-o-y. As a result, the exports reached the peak of $X, and then fell remarkably in the following year.

Exports by Country

The United Arab Emirates (X tonnes), Germany (X tonnes) and Niger (X tonnes) were the main destinations of banana and plantain exports from Nigeria, with a combined X% share of total exports.

From 2012 to 2021, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by the United Arab Emirates (+X%), while the other leaders experienced more modest paces of growth.

In value terms, the United Arab Emirates ($X), Germany ($X) and Canada ($X) were the largest markets for banana and plantain exported from Nigeria worldwide, with a combined X% share of total exports.

In terms of the main countries of destination, the United Arab Emirates, with a CAGR of +X%, recorded the highest growth rate of the value of exports, over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

The average banana and plantain export price stood at $X per tonne in 2021, dropping by -X% against the previous year. Overall, the export price, however, recorded a resilient increase. The most prominent rate of growth was recorded in 2017 an increase of X% year-to-year. Over the period under review, the average export prices reached the peak figure at $X per tonne in 2020, and then declined remarkably in the following year.

There were significant differences in the average prices for the major external markets. In 2021, the country with the highest price was Canada ($X per tonne), while the average price for exports to Niger ($X per tonne) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to Niger (-X%), while the prices for the other major destinations experienced a decline.

Banana And Plantain Imports

Imports into Nigeria

In 2021, imports of bananas and plantains into Nigeria soared to X tonnes, rising by X% on the previous year. Overall, imports, however, showed a precipitous decline. Over the period under review, imports hit record highs at X tonnes in 2012; however, from 2013 to 2021, imports stood at a somewhat lower figure.

In value terms, banana and plantain imports skyrocketed to $X in 2021. Over the period under review, imports, however, saw a sharp setback. Imports peaked at $X in 2013; however, from 2014 to 2021, imports failed to regain momentum.

Imports by Country

In 2021, Cameroon (X tonnes) constituted the largest supplier of banana and plantain to Nigeria, accounting for a X% share of total imports. Moreover, banana and plantain imports from Cameroon exceeded the figures recorded by the second-largest supplier, India (X tonnes), fourfold.

From 2012 to 2021, the average annual rate of growth in terms of volume from Cameroon amounted to -X%. The remaining supplying countries recorded the following average annual rates of imports growth: India (-X% per year) and the United States (+X% per year).

In value terms, Cameroon ($X) constituted the largest supplier of banana and plantain to Nigeria, comprising X% of total imports. The second position in the ranking was occupied by the United States ($X), with a X% share of total imports.

From 2012 to 2021, the average annual growth rate of value from Cameroon amounted to +X%. The remaining supplying countries recorded the following average annual rates of imports growth: the United States (+X% per year) and India (-X% per year).

Import Prices by Country

In 2021, the average banana and plantain import price amounted to $X per tonne, waning by -X% against the previous year. In general, import price indicated pronounced growth from 2012 to 2021: its price increased at an average annual rate of +X% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. The growth pace was the most rapid in 2014 when the average import price increased by X% year-to-year. Over the period under review, average import prices hit record highs at $X per tonne in 2020, and then reduced notably in the following year.

Prices varied noticeably by the country of origin: the country with the highest price was the United States ($X per tonne), while the price for India ($X per tonne) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Cameroon (+X%), while the prices for the other major suppliers experienced a decline.

Source: IndexBox Platform

Base Year Historical Period Forecast Period Units
2021 2007-2021 2022-2030 US$, Tonnes

Frequently Asked Questions (FAQ) :

What are the largest markets for bananas and plantains in the world?
+
The country with the largest volume of banana and plantain consumption was India, comprising approx. 18% of total volume. Moreover, banana and plantain consumption in India exceeded the figures recorded by the second-largest consumer, China, twofold. Uganda ranked third in terms of total consumption with a 4.7% share.
What are the largest producers of bananas and plantains in the world?
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India constituted the country with the largest volume of banana and plantain production, comprising approx. 19% of total volume. Moreover, banana and plantain production in India exceeded the figures recorded by the second-largest producer, China, threefold. The third position in this ranking was occupied by the Philippines, with a 5.6% share.
What are the leading suppliers of bananas and plantains to Nigeria?
+
In value terms, Cameroon constituted the largest supplier of banana and plantain to Nigeria, comprising 65% of total imports. The second position in the ranking was occupied by the United States, with a 12% share of total imports.
What are the leading importers of bananas and plantains from Nigeria?
+
In value terms, the United Arab Emirates, Germany and Canada $387) were the largest markets for banana and plantain exported from Nigeria worldwide, with a combined 97% share of total exports.
What is the average export price for bananas and plantains in Nigeria?
+
In 2021, the average banana and plantain export price amounted to $511 per tonne, falling by -57.4% against the previous year.
What is the average import price for bananas and plantains in Nigeria?
+
The average banana and plantain import price stood at $720 per tonne in 2021, which is down by -39.1% against the previous year.

This report provides an in-depth analysis of the banana and plantain 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
• FCL 489 -
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:
1. How to diversify your business and benefit from new market opportunities
2. How to load your idle production capacity
3. How to boost your sales on overseas markets
4. How to increase your profit margins
5. How to make your supply chain more sustainable
6. How to reduce your production and supply chain costs
7. How to outsource production to other countries
8. 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

1.1
REPORT DESCRIPTION
1.2
RESEARCH METHODOLOGY AND AI PLATFORM
1.3
DATA-DRIVEN DECISIONS FOR YOUR BUSINESS
1.4
GLOSSARY AND SPECIFIC TERMS
2. EXECUTIVE SUMMARY

A Quick Overview of Market Performance

3. MARKET OVERVIEW

Understanding the Current State of The Market and Its Prospects

3.1
MARKET SIZE
3.2
MARKET STRUCTURE
3.3
TRADE BALANCE
3.4
PER CAPITA CONSUMPTION
3.5
MARKET FORECAST TO 2030
4. MOST PROMISING PRODUCTS

Finding New Products to Diversify Your Business

4.1
TOP PRODUCTS TO DIVERSIFY YOUR BUSINESS
4.2
BEST-SELLING PRODUCTS
4.3
MOST CONSUMED PRODUCT
4.4
MOST TRADED PRODUCT
4.5
MOST PROFITABLE PRODUCT FOR EXPORT
5. MOST PROMISING SUPPLYING COUNTRIES

Choosing the Best Countries to Establish Your Sustainable Supply Chain

5.1
TOP COUNTRIES TO SOURCE YOUR PRODUCT
5.2
TOP PRODUCING COUNTRIES
5.3
COUNTRIES WITH TOP YIELDS
5.4
TOP EXPORTING COUNTRIES
5.5
LOW-COST EXPORTING COUNTRIES
6. MOST PROMISING OVERSEAS MARKETS

Choosing the Best Countries to Boost Your Exports

6.1
TOP OVERSEAS MARKETS FOR EXPORTING YOUR PRODUCT
6.2
TOP CONSUMING MARKETS
6.3
UNSATURATED MARKETS
6.4
TOP IMPORTING MARKETS
6.5
MOST PROFITABLE MARKETS
7. PRODUCTION

The Latest Trends and Insights into The Industry

7.1
PRODUCTION, HARVESTED AREA AND YIELD
8. IMPORTS

The Largest Import Supplying Countries

8.1
IMPORTS FROM 2007–2021
8.2
IMPORTS BY COUNTRY
8.3
IMPORT PRICES BY COUNTRY
9. EXPORTS

The Largest Destinations for Exports

9.1
EXPORTS FROM 2007–2021
9.2
EXPORTS BY COUNTRY
9.3
EXPORT PRICES BY COUNTRY
10. PROFILES OF MAJOR PRODUCERS

The Largest Producers on The Market and Their Profiles

LIST OF TABLES
Table 1:
Key Findings In 2021
Table 2:
Market Volume, In Physical Terms, 2007–2021
Table 3:
Market Value, 2007–2021
Table 4:
Per Capita Consumption In 2007–2021
Table 5:
Imports, In Physical Terms, By Country, 2007–2021
Table 6:
Imports, In Value Terms, By Country, 2007–2021
Table 7:
Import Prices, By Country Of Origin, 2007–2021
Table 8:
Exports, In Physical Terms, By Country, 2007–2021
Table 9:
Exports, In Value Terms, By Country, 2007–2021
Table 10:
Export Prices, By Country Of Destination, 2007–2021
LIST OF FIGURES
Figure 1:
Market Volume, In Physical Terms, 2007–2021
Figure 2:
Market Value, 2007–2021
Figure 3:
Market Structure – Domestic Supply vs. Imports, In Physical Terms, 2007–2021
Figure 4:
Market Structure – Domestic Supply vs. Imports, In Value Terms, 2007–2021
Figure 5:
Trade Balance, In Physical Terms, 2007–2021
Figure 6:
Trade Balance, In Value Terms, 2007–2021
Figure 7:
Per Capita Consumption, 2007–2021
Figure 8:
Market Forecast To 2030
Figure 9:
Products: Market Size And Growth, By Type
Figure 10:
Products: Average Per Capita Consumption, By Type
Figure 11:
Products: Exports And Growth, By Type
Figure 12:
Products: Export Prices And Growth, By Type
Figure 13:
Production Volume And Growth
Figure 14:
Yield And Growth
Figure 15:
Exports And Growth
Figure 16:
Export Prices And Growth
Figure 17:
Market Size And Growth
Figure 18:
Per Capita Consumption
Figure 19:
Imports And Growth
Figure 20:
Import Prices
Figure 21:
Production, In Physical Terms, 2007–2021
Figure 22:
Production, In Value Terms, 2007–2021
Figure 23:
Area Harvested, 2007–2021
Figure 24:
Yield, 2007–2021
Figure 25:
Imports, In Physical Terms, 2007–2021
Figure 26:
Imports, In Value Terms, 2007–2021
Figure 27:
Imports, In Physical Terms, By Country, 2021
Figure 28:
Imports, In Physical Terms, By Country, 2007–2021
Figure 29:
Imports, In Value Terms, By Country, 2007–2021
Figure 30:
Import Prices, By Country Of Origin, 2007–2021
Figure 31:
Exports, In Physical Terms, 2007–2021
Figure 32:
Exports, In Value Terms, 2007–2021
Figure 33:
Exports, In Physical Terms, By Country, 2021
Figure 34:
Exports, In Physical Terms, By Country, 2007–2021
Figure 35:
Exports, In Value Terms, By Country, 2007–2021
Figure 36:
Export Prices, By Country Of Destination, 2007–2021
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