Latest Report Update: Apr 11, 2019

Nigeria - Honey - Market Analysis, Forecast, Size, Trends and Insights

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Nigeria: Honey Market Overview 2019

Honey Market Size in Nigeria

The revenue of the honey market in Nigeria amounted to $X in 2017, reducing 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, honey consumption continues to indicate a strong expansion. The growth pace was the most rapid in 2008, with an increase of X% against the previous year. The honey consumption peaked of $X in 2014; however, from 2015 to 2017, it stood at a somewhat lower level.

Honey Exports

Exports from Nigeria

In 2017, honey exports from Nigeria amounted to X kg, shrinking by -X% against the previous year. The total export volume increased an average annual rate of +X% from 2007 to 2017; however, the trend pattern indicated some noticeable fluctuations throughout the analyzed period. The most prominent rate of growth was recorded in 2013, when exports increased by X% year-to-year. In that year, the honey exports reached their peak volume of X kg. From 2014 to 2017, growth of the honey exports failed to regain its momentum.

In value terms, honey exports stood at $X in 2017. In general, honey exports continue to indicate a strong expansion. In that year, the honey exports attained their peak level of $X. From 2014 to 2017, growth of the honey exports stood at a somewhat lower level.

Exports by Country

The U.S. (X kg) was the main destination of honey exports from Nigeria, with a X% share of total exports. It was followed by Singapore (X kg), with a X% share of total exports.

From 2007 to 2017, the average annual growth rate of volume to the U.S. amounted to +X%.

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

From 2007 to 2017, the average annual growth rate of value to the U.S. amounted to +X%.

Export Prices by Country

The average honey export price stood at $X per tonne in 2017, declining by -X% against the previous year. In general, the export price indicated a strong expansion from 2007 to 2017: its price increased at an average annual rate of +X% over the last decade. The trend pattern, however, indicated some noticeable fluctuations throughout the analyzed period. Based on 2017 figures, the honey export price decreased by -X% against 2013 indices. The pace of growth appeared the most rapid in 2013, when the average export price increased by X% y-o-y. In that year, the average export prices for honey attained their peak level of $X per tonne. From 2014 to 2017, growth of the average export prices for honey failed to regain its momentum.

Export prices varied noticeably by the country of origin; the country with the highest export price was the U.S. ($X per tonne), while average price for exports to Singapore amounted to $X per tonne.

From 2007 to 2017, the most notable rate of growth in terms of export prices was recorded for supplies to the U.S. (+X% per year).

Honey Imports

Imports into Nigeria

In 2017, approx. X tonnes of honey were imported into Nigeria; dropping by -X% against the previous year. In general, honey imports continue to indicate a notable increase. The most prominent rate of growth was recorded in 2008, when imports increased by X% against the previous year. The imports peaked of X tonnes in 2009; however, from 2010 to 2017, it stood at a somewhat lower level.

In value terms, honey imports stood at $X in 2017. Overall, honey imports continue to indicate a prominent increase. The imports peaked of $X in 2014; however, from 2015 to 2017, it stood at a somewhat lower level.

Imports by Country

Albania (X tonnes), China (X tonnes) and Spain (X tonnes) were the main suppliers of honey imports to Nigeria, together comprising X% of total imports. These countries were followed by Lebanon, the Netherlands, Cameroon and France, which together accounted for a further X%.

From 2007 to 2017, the most notable rate of growth in terms of imports, amongst the main suppliers, was attained by Lebanon (+X% per year), while the other leaders experienced more modest paces of growth.

In value terms, Spain ($X), China ($X) and Albania ($X) constituted the largest honey suppliers to Nigeria, together accounting for X% of total imports. Lebanon, the Netherlands, France and Cameroon lagged somewhat behind, together accounting for a further X%.

Lebanon (+X% per year) experienced the highest rates of growth with regard to imports,in terms of the main suppliers over the last decade, while the other leaders experienced more modest paces of growth.

Import Prices by Country

The average honey import price stood at $X per tonne in 2017, coming down by -X% against the previous year. In general, the import price indicated a prominent growth from 2007 to 2017: its price increased at an average annual rate of +X% over the last decade. The trend pattern, however, indicated some noticeable fluctuations throughout the analyzed period. Based on 2017 figures, the honey import price decreased by -X% against 2013 indices. The pace of growth was the most pronounced in 2010, an increase of X% against the previous year. Over the period under review, the average import prices for honey attained its peak figure level of $X per tonne in 2013; however, from 2014 to 2017, it stood at a somewhat lower level.

Import prices varied noticeably by the country of origin; the country with the highest import price was Spain ($X per tonne), while price for Cameroon ($X per tonne) was amongst the lowest.

From 2007 to 2017, the most notable rate of growth in terms of import prices was attained by Lebanon (+X% per year), the import prices for other major suppliers experienced more modest paces of growth.

Source: IndexBox AI Platform

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

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 2025
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 2007–2018
8.2
IMPORTS BY COUNTRY
8.3
IMPORT PRICES BY COUNTRY
9. EXPORTS

The Largest Destinations for Exports

9.1
EXPORTS FROM 2007–2018
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 2018
Table 2:
Market Volume, In Physical Terms, 2007–2018
Table 3:
Market Value, 2007–2018
Table 4:
Per Capita Consumption In 2007–2018
Table 5:
Imports, In Physical Terms, By Country, 2007–2018
Table 6:
Imports, In Value Terms, By Country, 2007–2018
Table 7:
Import Prices, By Country Of Origin, 2007–2018
Table 8:
Exports, In Physical Terms, By Country, 2007–2018
Table 9:
Exports, In Value Terms, By Country, 2007–2018
Table 10:
Export Prices, By Country Of Destination, 2007–2018
LIST OF FIGURES
Figure 1:
Market Volume, In Physical Terms, 2007–2018
Figure 2:
Market Value, 2007–2018
Figure 3:
Market Structure – Domestic Supply vs. Imports, In Physical Terms, 2007–2018
Figure 4:
Market Structure – Domestic Supply vs. Imports, In Value Terms, 2007–2018
Figure 5:
Trade Balance, In Physical Terms, 2007–2018
Figure 6:
Trade Balance, In Value Terms, 2007–2018
Figure 7:
Per Capita Consumption, 2007–2018
Figure 8:
Market Forecast To 2025
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, 2007–2018
Figure 21:
Production, In Value Terms, 2007–2018
Figure 22:
Imports, In Physical Terms, 2007–2018
Figure 23:
Imports, In Value Terms, 2007–2018
Figure 24:
Imports, In Physical Terms, By Country, 2018
Figure 25:
Imports, In Physical Terms, By Country, 2007–2018
Figure 26:
Imports, In Value Terms, By Country, 2007–2018
Figure 27:
Import Prices, By Country Of Origin, 2007–2018
Figure 28:
Exports, In Physical Terms, 2007–2018
Figure 29:
Exports, In Value Terms, 2007–2018
Figure 30:
Exports, In Physical Terms, By Country, 2018
Figure 31:
Exports, In Physical Terms, By Country, 2007–2018
Figure 32:
Exports, In Value Terms, By Country, 2007–2018
Figure 33:
Export Prices, By Country Of Destination, 2007–2018
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