Nigeria - Manufactured Tobacco, Extracts and Essences - Market Analysis, Forecast, Size, Trends and Insights
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View PricingNigeria: Market for Manufactured Tobacco, Extracts And Essences 2024
Market Size for Manufactured Tobacco, Extracts And Essences in Nigeria
In 2023, the Nigerien market for manufactured tobacco, extracts and essences was finally on the rise to reach $X for the first time since 2020, thus ending a two-year declining trend. In general, consumption recorded a modest expansion. Over the period under review, the market reached the peak level at $X in 2020; however, from 2021 to 2023, consumption failed to regain momentum.
Production of Manufactured Tobacco, Extracts And Essences in Nigeria
In value terms, manufactured tobacco, extracts and essences production totaled $X in 2023 estimated in export price. Overall, the total production indicated a tangible expansion from 2012 to 2023: its value increased at an average annual rate of X% over the last eleven years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2023 figures, production decreased by X% against 2021 indices. The most prominent rate of growth was recorded in 2013 with an increase of X%. Manufactured tobacco, extracts and essences production peaked at $X in 2021; however, from 2022 to 2023, production remained at a lower figure.
Exports of Manufactured Tobacco, Extracts And Essences
Exports from Nigeria
In 2023, overseas shipments of manufactured tobacco, extracts and essences decreased by X% to X kg, falling for the third consecutive year after two years of decline. Overall, exports recorded a dramatic decline. The most prominent rate of growth was recorded in 2016 with an increase of X% against the previous year. The exports peaked at X kg in 2012; however, from 2013 to 2023, the exports stood at a somewhat lower figure.
In value terms, manufactured tobacco, extracts and essences exports dropped notably to $X in 2023. In general, exports continue to indicate a dramatic shrinkage. The growth pace was the most rapid in 2022 when exports increased by X% against the previous year. The exports peaked at $X in 2016; however, from 2017 to 2023, the exports stood at a somewhat lower figure.
Exports by Country
Benin (X kg), Niger (X kg) and South Africa (X kg) were the main destinations of manufactured tobacco, extracts and essences exports from Nigeria, with a combined X% share of total exports.
From 2012 to 2023, the biggest increases were recorded for South Africa (with a CAGR of X%), while shipments for the other leaders experienced a decline.
In value terms, Germany ($X) emerged as the key foreign market for manufactured tobacco, extracts and essences exports from Nigeria, comprising X% of total exports. The second position in the ranking was taken by Benin ($X), with a X% share of total exports. It was followed by Niger, with a X% share.
From 2012 to 2023, the average annual rate of growth in terms of value to Germany stood at X%. Exports to the other major destinations recorded the following average annual rates of exports growth: Benin (X% per year) and Niger (X% per year).
Export Prices by Country
In 2023, the average export price for manufactured tobacco, extracts and essences amounted to $X per ton, declining by X% against the previous year. Overall, the export price, however, continues to indicate strong growth. The most prominent rate of growth was recorded in 2022 an increase of X%. As a result, the export price reached the peak level of $X per ton, and then dropped rapidly in the following year.
Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Germany ($X per ton), while the average price for exports to Niger ($X per ton) was amongst the lowest.
From 2012 to 2023, the most notable rate of growth in terms of prices was recorded for supplies to Mali (X.8%), while the prices for the other major destinations experienced more modest paces of growth.
Imports of Manufactured Tobacco, Extracts And Essences
Imports into Nigeria
In 2023, purchases abroad of manufactured tobacco, extracts and essences was finally on the rise to reach X tons for the first time since 2019, thus ending a three-year declining trend. In general, imports enjoyed significant growth. The growth pace was the most rapid in 2013 with an increase of X%. Over the period under review, imports reached the peak figure at X tons in 2019; however, from 2020 to 2023, imports failed to regain momentum.
In value terms, manufactured tobacco, extracts and essences imports soared to $X in 2023. Over the period under review, imports showed a significant increase. The growth pace was the most rapid in 2013 when imports increased by X%. Imports peaked at $X in 2020; however, from 2021 to 2023, imports remained at a lower figure.
Imports by Country
Denmark (X tons), South Korea (X tons) and the United States (X tons) were the main suppliers of manufactured tobacco, extracts and essences imports to Nigeria, with a combined X% share of total imports.
From 2012 to 2023, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by the United States (with a CAGR of X%), while imports for the other leaders experienced more modest paces of growth.
In value terms, the largest manufactured tobacco, extracts and essences suppliers to Nigeria were Denmark ($X), the United States ($X) and South Korea ($X), together comprising X% of total imports.
In terms of the main suppliers, South Korea, with a CAGR of X%, saw the highest growth rate of the value of imports, over the period under review, while purchases for the other leaders experienced more modest paces of growth.
Import Prices by Country
The average import price for manufactured tobacco, extracts and essences stood at $X per ton in 2023, reducing by X% against the previous year. In general, the import price, however, enjoyed notable growth. The pace of growth appeared the most rapid in 2020 when the average import price increased by X%. Over the period under review, average import prices attained the maximum at $X per ton in 2016; however, from 2017 to 2023, import prices failed to regain momentum.
There were significant differences in the average prices amongst the major supplying countries. In 2023, amid the top importers, the country with the highest price was Germany ($X per ton), while the price for Niger ($X per ton) was amongst the lowest.
From 2012 to 2023, the most notable rate of growth in terms of prices was attained by Turkey (X%), while the prices for the other major suppliers experienced more modest paces of growth.
Source: IndexBox Platform
This report provides an in-depth analysis of the market for manufactured tobacco, extracts and essences 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:
- Prodcom 12001990 - Manufactured tobacco, extracts and essences, other homogenised or reconstituted tobacco, n.e.c.
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:
- How to diversify your business and benefit from new market opportunities
- How to load your idle production capacity
- How to boost your sales on overseas markets
- How to increase your profit margins
- How to make your supply chain more sustainable
- How to reduce your production and supply chain costs
- How to outsource production to other countries
- 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.
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1. INTRODUCTION
Making Data-Driven Decisions to Grow Your Business
- REPORT DESCRIPTION
- RESEARCH METHODOLOGY AND AI PLATFORM
- DATA-DRIVEN DECISIONS FOR YOUR BUSINESS
- GLOSSARY AND SPECIFIC TERMS
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2. EXECUTIVE SUMMARY
A Quick Overview of Market Performance
- KEY FINDINGS
- MARKET TRENDS This Chapter is Available Only for the Professional Edition PRO
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3. MARKET OVERVIEW
Understanding the Current State of The Market and Its Prospects
- MARKET SIZE
- MARKET STRUCTURE
- TRADE BALANCE
- PER CAPITA CONSUMPTION
- MARKET FORECAST TO 2030
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4. MOST PROMISING PRODUCT
Finding New Products to Diversify Your Business
This Chapter is Available Only for the Professional Edition PRO- TOP PRODUCTS TO DIVERSIFY YOUR BUSINESS
- BEST-SELLING PRODUCTS
- MOST CONSUMED PRODUCT
- MOST TRADED PRODUCT
- MOST PROFITABLE PRODUCT FOR EXPORT
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5. MOST PROMISING SUPPLYING COUNTRIES
Choosing the Best Countries to Establish Your Sustainable Supply Chain
This Chapter is Available Only for the Professional Edition PRO- TOP COUNTRIES TO SOURCE YOUR PRODUCT
- TOP PRODUCING COUNTRIES
- TOP EXPORTING COUNTRIES
- LOW-COST EXPORTING COUNTRIES
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6. MOST PROMISING OVERSEAS MARKETS
Choosing the Best Countries to Boost Your Exports
This Chapter is Available Only for the Professional Edition PRO- TOP OVERSEAS MARKETS FOR EXPORTING YOUR PRODUCT
- TOP CONSUMING MARKETS
- UNSATURATED MARKETS
- TOP IMPORTING MARKETS
- MOST PROFITABLE MARKETS
7. PRODUCTION
The Latest Trends and Insights into The Industry
- PRODUCTION VOLUME AND VALUE
8. IMPORTS
The Largest Import Supplying Countries
- IMPORTS FROM 2012–2023
- IMPORTS BY COUNTRY
- IMPORT PRICES BY COUNTRY
9. EXPORTS
The Largest Destinations for Exports
- EXPORTS FROM 2012–2023
- EXPORTS BY COUNTRY
- EXPORT PRICES BY COUNTRY
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10. PROFILES OF MAJOR PRODUCERS
The Largest Producers on The Market and Their Profiles
This Chapter is Available Only for the Professional Edition PRO -
LIST OF TABLES
- Key Findings In 2023
- Market Volume, In Physical Terms, 2012–2023
- Market Value, 2012–2023
- Per Capita Consumption In 2012-2023
- Imports, In Physical Terms, By Country, 2012–2023
- Imports, In Value Terms, By Country, 2012–2023
- Import Prices, By Country Of Origin, 2012–2023
- Exports, In Physical Terms, By Country, 2012–2023
- Exports, In Value Terms, By Country, 2012–2023
- Export Prices, By Country Of Destination, 2012–2023
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LIST OF FIGURES
- Market Volume, In Physical Terms, 2012–2023
- Market Value, 2012–2023
- Market Structure – Domestic Supply vs. Imports, In Physical Terms, 2012-2023
- Market Structure – Domestic Supply vs. Imports, In Value Terms, 2012-2023
- Trade Balance, In Physical Terms, 2012-2023
- Trade Balance, In Value Terms, 2012-2023
- Per Capita Consumption, 2012-2023
- Market Volume Forecast to 2030
- Market Value Forecast to 2030
- Products: Market Size And Growth, By Type
- Products: Average Per Capita Consumption, By Type
- Products: Exports And Growth, By Type
- Products: Export Prices And Growth, By Type
- Production Volume And Growth
- Exports And Growth
- Export Prices And Growth
- Market Size And Growth
- Per Capita Consumption
- Imports And Growth
- Import Prices
- Production, In Physical Terms, 2012–2023
- Production, In Value Terms, 2012–2023
- Imports, In Physical Terms, 2012–2023
- Imports, In Value Terms, 2012–2023
- Imports, In Physical Terms, By Country, 2023
- Imports, In Physical Terms, By Country, 2012–2023
- Imports, In Value Terms, By Country, 2012–2023
- Import Prices, By Country Of Origin, 2012–2023
- Exports, In Physical Terms, 2012–2023
- Exports, In Value Terms, 2012–2023
- Exports, In Physical Terms, By Country, 2023
- Exports, In Physical Terms, By Country, 2012–2023
- Exports, In Value Terms, By Country, 2012–2023
- Export Prices, By Country Of Destination, 2012–2023
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