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Nigeria - Honey - Market Analysis, Forecast, Size, Trends and Insights
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Nigeria: Honey Market Overview 2021

Honey Market Size in Nigeria

In 2020, the Nigerien honey market increased by X% to $X, rising for the second consecutive year after four years of decline. In general, consumption enjoyed a notable increase. The pace of growth was the most pronounced in 2013 when the market value increased by X% year-to-year. Over the period under review, the market attained the peak level at $X in 2014; however, from 2015 to 2020, consumption stood at a somewhat lower figure.

Honey Exports

Exports from Nigeria

In 2020, shipments abroad of honey decreased by -X% to X tonnes, falling for the second year in a row after four years of growth. Over the period under review, exports, however, recorded a resilient increase. The pace of growth appeared the most rapid in 2015 with an increase of X% y-o-y. Exports peaked at X tonnes in 2018; however, from 2019 to 2020, exports stood at a somewhat lower figure.

In value terms, honey exports dropped rapidly to $X in 2020. Overall, exports, however, posted a prominent increase. The pace of growth was the most pronounced in 2008 with an increase of X% year-to-year. Exports peaked at $X in 2019, and then reduced notably in the following year.

Exports by Country

The U.S. (X tonnes) was the main destination for honey exports from Nigeria, accounting for a X% share of total exports. Moreover, honey exports to the U.S. exceeded the volume sent to the second major destination, Canada (X kg), eightfold. The third position in this ranking was occupied by South Africa (X kg), with a X% share.

From 2007 to 2020, the average annual growth rate of volume to the U.S. amounted to -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).

In value terms, the U.S. ($X) remains the key foreign market for honey exports from Nigeria, comprising X% of total exports. The second position in the ranking was occupied by Canada ($X), with a X% share of total exports. It was followed by Sweden, with a X% share.

From 2007 to 2020, the average annual rate of growth in terms of value to the U.S. totaled -X%. Exports to the other major destinations recorded the following average annual rates of exports growth: Canada (+X% per year) and Sweden (X% per year).

Export Prices by Country

In 2020, the average honey export price amounted to $X per tonne, rising by X% against the previous year. In general, the export price recorded a prominent expansion. The pace of growth appeared the most rapid in 2008 when the average export price increased by X% against the previous year. Over the period under review, average export prices reached the peak figure at $X per tonne in 2010; however, from 2011 to 2020, export prices remained at a lower figure.

There were significant differences in the average prices for the major export markets. In 2020, the country with the highest price was Canada ($X per tonne), while the average price for exports to South Africa ($X per tonne) was amongst the lowest.

From 2007 to 2020, the most notable rate of growth in terms of prices was recorded for supplies to South Africa, while the prices for the other major destinations experienced more modest paces of growth.

Honey Imports

Imports into Nigeria

In 2020, supplies from abroad of honey increased by X% to X tonnes, rising for the third year in a row after three years of decline. Overall, imports recorded a notable increase. The pace of growth was the most pronounced in 2013 with an increase of X% year-to-year. Over the period under review, imports reached the peak figure at X tonnes in 2014; however, from 2015 to 2020, imports remained at a lower figure.

In value terms, honey imports surged to $X in 2020. In general, imports enjoyed a modest increase. The most prominent rate of growth was recorded in 2009 when imports increased by X% y-o-y. Imports peaked at $X in 2014; however, from 2015 to 2020, imports stood at a somewhat lower figure.

Imports by Country

In 2020, China (X tonnes) constituted the largest supplier of honey to Nigeria, with a X% share of total imports. Moreover, honey imports from China exceeded the figures recorded by the second-largest supplier, Spain (X tonnes), fivefold. The third position in this ranking was occupied by India (X tonnes), with a X% share.

From 2007 to 2020, the average annual rate of growth in terms of volume from China amounted to +X%. The remaining supplying countries recorded the following average annual rates of imports growth: Spain (+X% per year) and India (+X% per year).

In value terms, the largest honey suppliers to Nigeria were China ($X), Spain ($X) and Pakistan ($X), with a combined X% share of total imports.

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

Import Prices by Country

The average honey import price stood at $X per tonne in 2020, growing by X% against the previous year. Overall, the import price, however, showed a mild curtailment. The pace of growth appeared the most rapid in 2009 an increase of X% y-o-y. As a result, import price reached the peak level of $X per tonne. from 2010 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 Pakistan ($X per tonne), while the price for China ($X per tonne) was amongst the lowest.

From 2007 to 2020, the most notable rate of growth in terms of prices was attained by Pakistan, while the prices for the other major suppliers experienced mixed trend patterns.

Source: IndexBox Platform

Frequently Asked Questions (FAQ) :

What are the largest markets for honey in the world?
+
The countries with the highest volumes of honey consumption in 2020 were China (325K tonnes), the U.S. (226K tonnes) and Turkey (107K tonnes), together accounting for 34% of global consumption. Germany, Canada, Iran, Russia, the UK, Ethiopia, Japan, France, Spain and Mexico lagged somewhat behind, together accounting for a further 31%.
What are the largest producers of honey in the world?
+
China (453K tonnes) remains the largest honey producing country worldwide, accounting for 23% of total volume. Moreover, honey production in China exceeded the figures recorded by the second-largest producer, Turkey (113K tonnes), fourfold. Ukraine (93K tonnes) ranked third in terms of total production with a 4.7% share.
What are the leading suppliers of honey to Nigeria?
+
In value terms, China ($321K), Spain ($220K) and Pakistan ($45K) appeared to be the largest honey suppliers to Nigeria, together comprising 81% of total imports.
What are the leading importers of honey from Nigeria?
+
In value terms, the U.S. ($2.7K) remains the key foreign market for honey exports from Nigeria, comprising 68% of total exports. The second position in the ranking was occupied by Canada ($624), with a 16% share of total exports. It was followed by Sweden, with a 5.5% share.
What is the average export price for honey in Nigeria?
+
In 2020, the average honey export price amounted to $2,039 per tonne, surging by 32% against the previous year.
What is the average import price for honey in Nigeria?
+
In 2020, the average honey import price amounted to $2,928 per tonne, increasing by 2.4% against the previous year.

Product coverage:
• FCL 1182 - Honey

This report provides an in-depth analysis of the honey 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 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

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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