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Nigeria - Fish Fats And Oils - Market Analysis, Forecast, Size, Trends And Insights
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Nigeria: Overview of the Market for Fish Fats And Oils 2021

Market Size for Fish Fats And Oils in Nigeria

The Nigerien fish fat and oil market expanded markedly to $X in 2020, increasing by X% against the previous year. The market value increased at an average annual rate of +X% from 2007 to 2020; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The pace of growth was the most pronounced in 2019 with an increase of X% against the previous year. Over the period under review, the market attained the maximum level in 2020 and is likely to see steady growth in the immediate term.

Production of Fish Fats And Oils in Nigeria

In value terms, fish fat and oil production stood at $X in 2020 estimated in export prices. Overall, the total production indicated slight growth from 2007 to 2020: its value increased at an average annual rate of +X% over the last thirteen years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2020 figures, production increased by +X% against 2011 indices. The pace of growth was the most pronounced in 2009 when the production volume increased by X% year-to-year. As a result, production attained the peak level of $X. from 2010 to 2020, production growth failed to regain the momentum.

Exports of Fish Fats And Oils

Exports from Nigeria

Fish fat and oil exports from Nigeria amounted to X kg in 2020, approximately reflecting 2019 figures. Overall, exports posted resilient growth. The most prominent rate of growth was recorded in 2009 with an increase of X% year-to-year. Over the period under review, exports reached the peak figure at X tonnes in 2011; however, from 2012 to 2020, exports failed to regain the momentum.

In value terms, fish fat and oil exports totaled $X in 2020. Over the period under review, exports recorded a modest expansion. The most prominent rate of growth was recorded in 2009 when exports increased by X% against the previous year. Exports peaked at $X in 2011; however, from 2012 to 2020, exports failed to regain the momentum.

Exports by Country

Cote d'Ivoire (X kg) was the main destination for fish fat and oil exports from Nigeria, accounting for a approx. X% share of total exports.

From 2007 to 2016, the average annual rate of growth in terms of volume to Cote d'Ivoire stood at +X%.

From 2007 to 2016, the average annual growth rate of value to Cote d'Ivoire stood at +X%.

Export Prices by Country

In 2016, the average fish fat and oil export price amounted to $X per tonne, growing by X% against the previous year. In general, the export price, however, faced a drastic downturn. The pace of growth appeared the most rapid in 2008 an increase of X% against the previous year. The export price peaked at $X per tonne in 2009; however, from 2010 to 2016, export prices remained at a lower figure.

As there is only one major export destination, the average price level is determined by prices for Cote d'Ivoire.

From 2007 to 2016, the rate of growth in terms of prices for Cote d'Ivoire amounted to -X% per year.

Imports of Fish Fats And Oils

Imports into Nigeria

In 2020, fish fat and oil imports into Nigeria declined rapidly to X tonnes, reducing by -X% compared with 2019. Overall, imports showed a perceptible decline. The pace of growth appeared the most rapid in 2016 with an increase of X% against the previous year. Imports peaked at X tonnes in 2008; however, from 2009 to 2020, imports failed to regain the momentum.

In value terms, fish fat and oil imports surged to $X in 2020. Over the period under review, imports recorded a remarkable increase. The pace of growth was the most pronounced in 2016 when imports increased by X% year-to-year. Imports peaked in 2020 and are expected to retain growth in the immediate term.

Imports by Country

Brazil (X tonnes), Poland (X tonnes) and India (X tonnes) were the main suppliers of fish fat and oil imports to Nigeria, with a combined X% share of total imports.

From 2007 to 2020, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by Poland, while imports for the other leaders experienced more modest paces of growth.

In value terms, Poland ($X), the U.S. ($X) and Brazil ($X) constituted the largest fish fat and oil suppliers to Nigeria, with a combined X% share of total imports.

Poland (+X% per year) saw the highest rates of growth with regard to the value of imports, among the main suppliers over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

In 2020, the average fish fat and oil import price amounted to $X per tonne, growing by X% against the previous year. Over the period under review, the import price recorded resilient growth. The most prominent rate of growth was recorded in 2010 an increase of X% against the previous year. As a result, import price reached the peak level of $X per tonne. from 2011 to 2020, the growth in terms of the average import prices remained at a lower figure.

There were significant differences in the average prices amongst the major supplying countries. In 2020, the country with the highest price was the U.S. ($X per tonne), while the price for Brazil ($X per tonne) was amongst the lowest.

From 2007 to 2020, the most notable rate of growth in terms of prices was attained by Poland, while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

Frequently Asked Questions (FAQ) :

What are the largest markets for fish fats and oils in the world?
+
The countries with the highest volumes of fish fat and oil consumption in 2020 were Norway (1M tonnes), China (734K tonnes) and the U.S. (311K tonnes), together accounting for 38% of global consumption.
What are the largest producers of fish fats and oils in the world?
+
The countries with the highest volumes of fish fat and oil production in 2020 were Norway (933K tonnes), China (681K tonnes) and the U.S. (346K tonnes), with a combined 37% share of global production.
What are the leading suppliers of fish fats and oils to Nigeria?
+
In value terms, the largest fish fat and oil suppliers to Nigeria were Poland ($443K), the U.S. ($277K) and Brazil ($153K), with a combined 72% share of total imports.
What is the average export price for fish fats and oils in Nigeria?
+
In 2016, the average fish fat and oil export price amounted to $1,104 per tonne, rising by 7.1% against the previous year.
What is the average import price for fish fats and oils in Nigeria?
+
In 2020, the average fish fat and oil import price amounted to $5,014 per tonne, picking up by 90% against the previous year.

Product coverage:
• Prodcom 10411200 - Fats and oils and their fractions of fish or marine mammals (excluding chemically modified)

This report provides an in-depth analysis of the market for fish fat and oil 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 2025.


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

2.1
KEY FINDINGS
2.2
MARKET TRENDS
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
TOP EXPORTING COUNTRIES
5.4
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 VOLUME AND VALUE
8. IMPORTS

The Largest Import Supplying Countries

8.1
IMPORTS FROM 2007–2020
8.2
IMPORTS BY COUNTRY
8.3
IMPORT PRICES BY COUNTRY
9. EXPORTS

The Largest Destinations for Exports

9.1
EXPORTS FROM 2007–2020
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 2020
Table 2:
Market Volume, In Physical Terms, 2007–2020
Table 3:
Market Value, 2007–2020
Table 4:
Per Capita Consumption In 2007–2020
Table 5:
Imports, In Physical Terms, By Country, 2007–2020
Table 6:
Imports, In Value Terms, By Country, 2007–2020
Table 7:
Import Prices, By Country Of Origin, 2007–2020
Table 8:
Exports, In Physical Terms, By Country, 2007–2020
Table 9:
Exports, In Value Terms, By Country, 2007–2020
Table 10:
Export Prices, By Country Of Destination, 2007–2020
LIST OF FIGURES
Figure 1:
Market Volume, In Physical Terms, 2007–2020
Figure 2:
Market Value, 2007–2020
Figure 3:
Market Structure – Domestic Supply vs. Imports, In Physical Terms, 2007–2020
Figure 4:
Market Structure – Domestic Supply vs. Imports, In Value Terms, 2007–2020
Figure 5:
Trade Balance, In Physical Terms, 2007–2020
Figure 6:
Trade Balance, In Value Terms, 2007–2020
Figure 7:
Per Capita Consumption, 2007–2020
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:
Exports And Growth
Figure 15:
Export Prices And Growth
Figure 16:
Market Size And Growth
Figure 17:
Per Capita Consumption
Figure 18:
Imports And Growth
Figure 19:
Import Prices
Figure 20:
Production, In Physical Terms, 2007–2020
Figure 21:
Production, In Value Terms, 2007–2020
Figure 22:
Imports, In Physical Terms, 2007–2020
Figure 23:
Imports, In Value Terms, 2007–2020
Figure 24:
Imports, In Physical Terms, By Country, 2020
Figure 25:
Imports, In Physical Terms, By Country, 2007–2020
Figure 26:
Imports, In Value Terms, By Country, 2007–2020
Figure 27:
Import Prices, By Country Of Origin, 2007–2020
Figure 28:
Exports, In Physical Terms, 2007–2020
Figure 29:
Exports, In Value Terms, 2007–2020
Figure 30:
Exports, In Physical Terms, By Country, 2020
Figure 31:
Exports, In Physical Terms, By Country, 2007–2020
Figure 32:
Exports, In Value Terms, By Country, 2007–2020
Figure 33:
Export Prices, By Country Of Destination, 2007–2020

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