Nigeria: Meat Market 2024

Meat Market Size in Nigeria

The Nigerien meat market expanded to $X in 2022, growing by X% against the previous year. In general, consumption, however, recorded a modest increase. Over the period under review, the market hit record highs at $X in 2018; however, from 2019 to 2022, consumption stood at a somewhat lower figure.

Meat Production in Nigeria

In value terms, meat production soared to $X in 2022 estimated in export price. Overall, production, however, continues to indicate a relatively flat trend pattern. The pace of growth appeared the most rapid in 2020 when the production volume increased by X% against the previous year. Over the period under review, production reached the maximum level at $X in 2016; however, from 2017 to 2022, production remained at a lower figure.

In 2022, the average yield of meat in Nigeria totaled X kg per head, leveling off at the year before. In general, the yield, however, saw a relatively flat trend pattern. The pace of growth appeared the most rapid in 2013 when the yield increased by X%. As a result, the yield attained the peak level of X kg per head. From 2014 to 2022, the growth of the average meat yield failed to regain momentum.

The number of animals slaughtered for meat production in Nigeria reduced modestly to X heads in 2022, remaining stable against the year before. This number increased at an average annual rate of X% over the period from 2012 to 2022; the trend pattern remained consistent, with somewhat noticeable fluctuations being recorded in certain years. The most prominent rate of growth was recorded in 2018 when the number of producing animals increased by X%. Over the period under review, this number reached the peak level at X heads in 2021, and then contracted in the following year.

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Meat Exports

Exports from Nigeria

In 2022, approx. X tons of meat were exported from Nigeria; declining by X% against 2021. In general, exports, however, continue to indicate a prominent increase. The pace of growth was the most pronounced in 2021 when exports increased by X%. Over the period under review, the exports attained the maximum at X tons in 2014; however, from 2015 to 2022, the exports failed to regain momentum.

In value terms, meat exports plummeted to $X in 2022. Overall, exports, however, continue to indicate a prominent increase. The growth pace was the most rapid in 2013 when exports increased by X% against the previous year. The exports peaked at $X in 2014; however, from 2015 to 2022, the exports remained at a lower figure.

Exports by Country

South Africa (X tons) was the main destination for meat exports from Nigeria, accounting for a approx. X% share of total exports.

From 2012 to 2022, the average annual rate of growth in terms of volume to South Africa amounted to X%.

In value terms, South Africa ($X) emerged as the key foreign market for meat exports from Nigeria.

From 2012 to 2022, the average annual growth rate of value to South Africa totaled X%.

Export Prices by Country

The average meat export price stood at $X per ton in 2022, increasing by X% against the previous year. Over the period under review, the export price posted perceptible growth. The most prominent rate of growth was recorded in 2013 when the average export price increased by X%. As a result, the export price reached the peak level of $X per ton. From 2014 to 2022, the average export prices remained at a lower figure.

As there is only one major export destination, the average price level is determined by prices for South Africa.

From 2012 to 2022, the rate of growth in terms of prices for South Africa amounted to X% per year.

Meat Imports

Imports into Nigeria

Meat imports into Nigeria shrank significantly to X tons in 2022, waning by X% against 2021. Overall, imports continue to indicate a deep reduction. The pace of growth appeared the most rapid in 2021 when imports increased by X%. Imports peaked at X tons in 2014; however, from 2015 to 2022, imports remained at a lower figure.

In value terms, meat imports dropped remarkably to $X in 2022. Over the period under review, imports saw a significant curtailment. The growth pace was the most rapid in 2021 when imports increased by X% against the previous year. Over the period under review, imports reached the peak figure at $X in 2013; however, from 2014 to 2022, imports stood at a somewhat lower figure.

Imports by Country

In 2022, South Africa (X tons) constituted the largest meat supplier to Nigeria, accounting for a X% share of total imports. Moreover, meat imports from South Africa exceeded the figures recorded by the second-largest supplier, the Netherlands (X tons), threefold. Germany (X tons) ranked third in terms of total imports with a X% share.

From 2012 to 2022, the average annual rate of growth in terms of volume from South Africa totaled X%. The remaining supplying countries recorded the following average annual rates of imports growth: the Netherlands (X% per year) and Germany (X% per year).

In value terms, South Africa ($X) constituted the largest supplier of meat to Nigeria, comprising X% of total imports. The second position in the ranking was taken by Germany ($X), with a X% share of total imports. It was followed by the Netherlands, with a X% share.

From 2012 to 2022, the average annual rate of growth in terms of value from South Africa stood at X%. The remaining supplying countries recorded the following average annual rates of imports growth: Germany (X% per year) and the Netherlands (X% per year).

Import Prices by Country

The average meat import price stood at $X per ton in 2022, which is down by X% against the previous year. Overall, the import price showed a mild decrease. The pace of growth was the most pronounced in 2021 when the average import price increased by X%. The import price peaked at $X per ton in 2013; however, from 2014 to 2022, import prices failed to regain momentum.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was the United States ($X per ton), while the price for Tanzania ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by the United States (X%), while the prices for the other major suppliers experienced mixed trend patterns.

Source: IndexBox Platform

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