Nigeria: Overview of the Market for Evaporated And Condensed Milk 2021

Market Size for Evaporated And Condensed Milk in Nigeria

The Nigerien evaporated and condensed milk market shrank sharply to $X in 2019, falling by -X% against the previous year. This figure reflects the total revenues of producers and importers (excluding logistics costs, retail marketing costs, and retailers' margins, which will be included in the final consumer price). In general, consumption continues to indicate a abrupt shrinkage. The pace of growth appeared the most rapid in 2017 when the market value increased by X% y-o-y. Evaporated and condensed milk consumption peaked at $X in 2014; however, from 2015 to 2019, consumption failed to regain the momentum.

Exports of Evaporated And Condensed Milk

Exports from Nigeria

In 2019, the amount of evaporated and condensed milk exported from Nigeria surged to X tonnes, increasing by X% against 2018 figures. Over the period under review, exports saw a buoyant increase. The growth pace was the most rapid in 2014 with an increase of X% against the previous year. Exports peaked in 2019 and are likely to see gradual growth in the immediate term.

In value terms, evaporated and condensed milk exports soared to $X in 2019. Overall, exports saw a relatively flat trend pattern. The most prominent rate of growth was recorded in 2011 when exports increased by X% year-to-year. As a result, exports attained the peak of $X. From 2012 to 2019, the growth exports remained at a somewhat lower figure.

Exports by Country

Ghana (X tonnes) was the main destination for evaporated and condensed milk exports from Nigeria, with a X% share of total exports. It was followed by Togo (X tonnes), with a X% share of total exports.

From 2007 to 2019, the average annual growth rate of volume to Ghana stood at +X%.

In value terms, Ghana ($X) remains the key foreign market for evaporated and condensed milk exports from Nigeria, comprising X% of total exports. The second position in the ranking was occupied by Togo ($X), with a X% share of total exports.

From 2007 to 2019, the average annual rate of growth in terms of value to Ghana amounted to +X%.

Export Prices by Country

In 2019, the average evaporated and condensed milk export price amounted to $X per tonne, with a decrease of -X% against the previous year. In general, the export price continues to indicate a perceptible contraction. The growth pace was the most rapid in 2015 an increase of X% year-to-year. The export price peaked at $X per tonne in 2011; however, from 2012 to 2019, export prices failed to regain the momentum.

Prices varied noticeably by the country of destination; the country with the highest price was Ghana ($X per tonne), while the average price for exports to Togo amounted to $X per tonne.

From 2007 to 2019, the most notable rate of growth in terms of prices was recorded for supplies to Ghana.

Imports of Evaporated And Condensed Milk

Imports into Nigeria

In 2019, evaporated and condensed milk imports into Nigeria contracted dramatically to X tonnes, which is down by -X% against the previous year's figure. Overall, imports saw a abrupt slump. The most prominent rate of growth was recorded in 2017 with an increase of X% y-o-y. Imports peaked at X tonnes in 2007; however, from 2008 to 2019, imports remained at a lower figure.

In value terms, evaporated and condensed milk imports declined rapidly to $X in 2019. In general, imports recorded a abrupt setback. The most prominent rate of growth was recorded in 2017 when imports increased by X% against the previous year. Imports peaked at $X in 2014; however, from 2015 to 2019, imports stood at a somewhat lower figure.

Imports by Country

In 2019, the Netherlands (X tonnes) was the main evaporated and condensed milk supplier to Nigeria, with a approx. X% share of total imports.

From 2007 to 2019, the average annual rate of growth in terms of volume from the Netherlands stood at -X%.

In value terms, the Netherlands ($X) constituted the largest supplier of evaporated and condensed milk to Nigeria.

From 2007 to 2019, the average annual rate of growth in terms of value from the Netherlands totaled -X%.

Import Prices by Country

In 2019, the average evaporated and condensed milk import price amounted to $X per tonne, which is down by -X% against the previous year. Overall, the import price, however, saw a relatively flat trend pattern. The pace of growth was the most pronounced in 2010 an increase of X% year-to-year. The import price peaked at $X per tonne in 2011; however, from 2012 to 2019, import prices failed to regain the momentum.

As there is only one major supplying country, the average price level is determined by prices for the Netherlands.

From 2007 to 2019, the rate of growth in terms of prices for the Netherlands amounted to +X% per year.

Source: IndexBox AI Platform

Frequently Asked Questions (FAQ) :

What are the largest markets for evaporated and condensed milk in the world?

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The U.S. (1M tonnes) constituted the country with the largest volume of evaporated and condensed milk consumption, comprising approx. 19% of total volume. Moreover, evaporated and condensed milk consumption in the U.S. exceeded the figures recorded by the second-largest consumer, Peru (461K tonnes), twofold. Malaysia (287K tonnes) ranked third in terms of total consumption with a 5.3% share.

What are the largest producers of evaporated and condensed milk in the world?

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The countries with the highest volumes of evaporated and condensed milk production in 2019 were the U.S. (1M tonnes), Peru (527K tonnes) and Germany (468K tonnes), together comprising 38% of global production. These countries were followed by Malaysia, the Netherlands, Saudi Arabia, Mexico, Singapore, Russia, the UK, Belgium, Belarus and France, which together accounted for a further 39%.

What are the leading suppliers of evaporated and condensed milk to Nigeria?

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In value terms, the Netherlands ($31M) constituted the largest supplier of evaporated and condensed milk to Nigeria.

What are the leading importers of evaporated and condensed milk from Nigeria?

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In value terms, Ghana ($7M) remains the key foreign market for evaporated and condensed milk exports from Nigeria, comprising 99% of total exports. The second position in the ranking was occupied by Togo ($32K), with a 0.4% share of total exports.

What is the average export price for evaporated and condensed milk in Nigeria?

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In 2019, the average evaporated and condensed milk export price amounted to $1,222 per tonne, dropping by -24.4% against the previous year.

What is the average import price for evaporated and condensed milk in Nigeria?

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The average evaporated and condensed milk import price stood at $1,619 per tonne in 2019, waning by -1.6% against the previous year.