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Nigeria - Margarine And Shortening - Market Analysis, Forecast, Size, Trends and Insights
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Nigeria: Margarine And Shortening Market Overview 2021

Margarine And Shortening Market Size in Nigeria

The Nigerien margarine and shortening market surged to $X in 2020, increasing 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). Over the period under review, consumption posted pronounced growth. The most prominent rate of growth was recorded in 2009 with an increase of X% year-to-year. As a result, consumption reached the peak level of $X. from 2010 to 2020, the growth of the market failed to regain the momentum.

Margarine And Shortening Exports

Exports from Nigeria

In 2020, approx. X tonnes of margarine and shortening were exported from Nigeria; with an increase of X% against 2019 figures. Overall, exports enjoyed a resilient increase. The most prominent rate of growth was recorded in 2013 when exports increased by X% year-to-year. Exports peaked at X tonnes in 2011; however, from 2012 to 2020, exports remained at a lower figure.

In value terms, margarine and shortening exports shrank to $X in 2020. In general, exports saw resilient growth. The growth pace was the most rapid in 2013 with an increase of X% against the previous year. Over the period under review, exports reached the peak figure at $X in 2011; however, from 2012 to 2020, exports stood at a somewhat lower figure.

Exports by Country

The U.S. (X tonnes), Canada (X tonnes) and Niger (X tonnes) were the main destinations of margarine and shortening exports from Nigeria, with a combined X% share of total exports.

From 2007 to 2020, the biggest increases were in Canada (+X% per year), while shipments for the other leaders experienced more modest paces of growth.

In value terms, the largest markets for margarine and shortening exported from Nigeria were Canada ($X), the U.S. ($X) and Ireland ($X), with a combined X% share of total exports.

Canada (+X% per year) recorded the highest growth rate of the value of exports, among the main countries of destination over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

In 2020, the average margarine and shortening export price amounted to $X per tonne, declining by -X% against the previous year. Overall, the export price saw a perceptible curtailment. The pace of growth appeared the most rapid in 2013 an increase of X% against the previous year. As a result, export price attained the peak level of $X per tonne. from 2014 to 2020, the growth in terms of the average export prices remained at a somewhat lower figure.

Prices varied noticeably by the country of destination; the country with the highest price was Canada ($X per tonne), while the average price for exports to Niger ($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 Canada, while the prices for the other major destinations experienced mixed trend patterns.

Margarine And Shortening Imports

Imports into Nigeria

Margarine and shortening imports into Nigeria soared to X tonnes in 2020, growing by X% compared with 2019 figures. Over the period under review, imports continue to indicate a measured increase. The most prominent rate of growth was recorded in 2009 when imports increased by X% against the previous year. Over the period under review, imports reached the maximum in 2020 and are expected to retain growth in the near future.

In value terms, margarine and shortening imports skyrocketed to $X in 2020. Overall, imports saw a slight expansion. The pace of growth appeared the most rapid in 2009 with an increase of X% year-to-year. As a result, imports attained the peak of $X. from 2010 to 2020, the growth imports remained at a somewhat lower figure.

Imports by Country

In 2020, Indonesia (X tonnes) constituted the largest supplier of margarine and shortening to Nigeria, with a X% share of total imports. Moreover, margarine and shortening imports from Indonesia exceeded the figures recorded by the second-largest supplier, the Netherlands (X tonnes), more than tenfold.

From 2007 to 2020, the average annual growth rate of volume from Indonesia totaled +X%. The remaining supplying countries recorded the following average annual rates of imports growth: the Netherlands (-X% per year) and Malaysia (+X% per year).

In value terms, Indonesia ($X) constituted the largest supplier of margarine and shortening to Nigeria, comprising X% of total imports. The second position in the ranking was occupied by the Netherlands ($X), with a X% share of total imports.

From 2007 to 2020, the average annual growth rate of value from Indonesia amounted to +X%. The remaining supplying countries recorded the following average annual rates of imports growth: the Netherlands (-X% per year) and Malaysia (+X% per year).

Import Prices by Country

The average margarine and shortening import price stood at $X per tonne in 2020, growing by X% against the previous year. Overall, the import price, however, showed a pronounced downturn. The pace of growth appeared the most rapid in 2011 when the average import price increased by X% against the previous year. The import price peaked at $X per tonne in 2008; however, from 2009 to 2020, 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 Netherlands ($X per tonne), while the price for Indonesia ($X per tonne) was amongst the lowest.

From 2007 to 2020, the most notable rate of growth in terms of prices was attained by the Netherlands, while the prices for the other major suppliers experienced a decline.

Source: IndexBox Platform

Frequently Asked Questions (FAQ) :

What are the largest markets for margarine and shortening in the world?
+
The country with the largest volume of margarine and shortening consumption was the U.S. (4.2M tonnes), accounting for 26% of total volume. Moreover, margarine and shortening consumption in the U.S. exceeded the figures recorded by the second-largest consumer, Pakistan (1.9M tonnes), twofold. Brazil (1.1M tonnes) ranked third in terms of total consumption with a 6.8% share.
What are the largest producers of margarine and shortening in the world?
+
The country with the largest volume of margarine and shortening production was the U.S. (4.1M tonnes), accounting for 25% of total volume. Moreover, margarine and shortening production in the U.S. exceeded the figures recorded by the second-largest producer, Pakistan (1.9M tonnes), twofold. The third position in this ranking was occupied by Indonesia (1.1M tonnes), with a 6.7% share.
What are the leading suppliers of margarine and shortening to Nigeria?
+
In value terms, Indonesia ($54M) constituted the largest supplier of margarine and shortening to Nigeria, comprising 83% of total imports. The second position in the ranking was occupied by the Netherlands ($8.4M), with a 13% share of total imports.
What are the leading importers of margarine and shortening from Nigeria?
+
In value terms, Canada ($17K), the U.S. ($14K) and Ireland ($220) were the largest markets for margarine and shortening exported from Nigeria worldwide, together accounting for 96% of total exports.
What is the average export price for margarine and shortening in Nigeria?
+
The average margarine and shortening export price stood at $1,087 per tonne in 2020, reducing by -17.5% against the previous year.
What is the average import price for margarine and shortening in Nigeria?
+
In 2020, the average margarine and shortening import price amounted to $739 per tonne, growing by 6.5% against the previous year.

Product coverage:
• FCL 1242 - Margarine and Shortening

This report provides an in-depth analysis of the margarine and shortening 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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