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Nigeria - Peanut Butter And Prepared Or Preserved Groundnuts - Market Analysis, Forecast, Size, Trends And Insights
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Nigeria: Peanut Butter Market Overview 2021

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Peanut Butter Market Size in Nigeria

In 2020, the Nigerien peanut butter market increased by X% to $X, rising for the fourth consecutive year after three years of decline. The market value increased at an average annual rate of +X% from 2007 to 2020; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The pace of growth appeared the most rapid in 2013 with an increase of X% year-to-year. Over the period under review, the market attained the maximum level in 2020 and is likely to see steady growth in the immediate term.

Peanut Butter Production in Nigeria

In value terms, peanut butter production expanded remarkably to $X in 2020 estimated in export prices. Overall, the total production indicated a slight expansion from 2007 to 2020: its value increased at an average annual rate of +X% over the last thirteen years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2020 figures, production increased by +X% against 2016 indices. The most prominent rate of growth was recorded in 2013 when the production volume increased by X% against the previous year. Peanut butter production peaked in 2020 and is expected to retain growth in the near future.

Peanut Butter Exports

Exports from Nigeria

In 2020, shipments abroad of peanut butter and prepared or preserved groundnuts increased by X% to X tonnes, rising for the second consecutive year after two years of decline. Over the period under review, exports recorded a significant increase. The most prominent rate of growth was recorded in 2016 when exports increased by X% y-o-y. As a result, exports reached the peak of X tonnes. from 2017 to 2020, the growth exports remained at a somewhat lower figure.

In value terms, peanut butter exports skyrocketed to $X in 2020. Overall, exports saw a significant increase. The most prominent rate of growth was recorded in 2016 when exports increased by X% y-o-y. Over the period under review, exports hit record highs in 2020 and are expected to retain growth in the near future.

Exports by Country

The United Arab Emirates (X tonnes) was the main destination for peanut butter exports from Nigeria, accounting for a X% share of total exports. Moreover, peanut butter exports to the United Arab Emirates exceeded the volume sent to the second major destination, Canada (X tonnes), threefold. South Africa (X tonnes) ranked third in terms of total exports with a X% share.

From 2007 to 2020, the average annual rate of growth in terms of volume to the United Arab Emirates 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 largest markets for peanut butter exported from Nigeria were the United Arab Emirates ($X), Canada ($X) and South Africa ($X), with a combined X% share of total exports.

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

Export Prices by Country

The average peanut butter export price stood at $X per tonne in 2020, jumping by X% against the previous year. Overall, the export price, however, showed a relatively flat trend pattern. The pace of growth appeared the most rapid in 2012 an increase of X% y-o-y. Over the period under review, average export prices hit record highs at $X per tonne in 2014; however, from 2015 to 2020, export prices stood at a somewhat lower figure.

Prices varied noticeably by the country of destination; the country with the highest price was Canada ($X per tonne), while the average price for exports to the UK ($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 a decline.

Peanut Butter Imports

Imports into Nigeria

In 2020, after two years of growth, there was significant decline in supplies from abroad of peanut butter and prepared or preserved groundnuts, when their volume decreased by -X% to X tonnes. Over the period under review, imports recorded a abrupt decline. The pace of growth appeared the most rapid in 2018 with an increase of X% against the previous year. Over the period under review, imports hit record highs at X tonnes in 2011; however, from 2012 to 2020, imports stood at a somewhat lower figure.

In value terms, peanut butter imports dropped dramatically to $X in 2020. Overall, imports faced a abrupt setback. The most prominent rate of growth was recorded in 2010 when imports increased by X% against the previous year. As a result, imports reached the peak of $X. from 2011 to 2020, the growth imports remained at a somewhat lower figure.

Imports by Country

Ghana (X tonnes), Indonesia (X tonnes) and India (X tonnes) were the main suppliers of peanut butter imports to Nigeria, with a combined X% share of total imports. These countries were followed by South Africa, Viet Nam and the United Arab Emirates, which together accounted for a further X 2007 to 2020, the biggest increases were in South Africa, while purchases for the other leaders experienced more modest paces of growth.

In value terms, the largest peanut butter suppliers to Nigeria were Ghana ($X), South Africa ($X) and India ($X), with a combined X% share of total imports.

South Africa 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 peanut butter import price stood at $X per tonne in 2020, which is down by -X% against the previous year. Over the period under review, the import price continues to indicate a slight descent. The pace of growth appeared the most rapid in 2012 when the average import price increased by X% year-to-year. The import price peaked at $X per tonne in 2015; however, from 2016 to 2020, import prices failed to regain the momentum.

Prices varied noticeably by the country of origin; the country with the highest price was South Africa ($X per tonne), while the price for Indonesia ($X per tonne) was amongst the lowest.

From 2007 to 2020, the most notable rate of growth in terms of prices was attained by South Africa, 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 peanut butter and prepared or preserved groundnuts in the world?
+
China (974K tonnes) remains the largest peanut butter consuming country worldwide, accounting for 19% of total volume. Moreover, peanut butter consumption in China exceeded the figures recorded by the second-largest consumer, the U.S. (389K tonnes), threefold. India (350K tonnes) ranked third in terms of total consumption with a 6.8% share.
What are the largest producers of peanut butter and prepared or preserved groundnuts in the world?
+
China (1.2M tonnes) remains the largest peanut butter producing country worldwide, comprising approx. 24% of total volume. Moreover, peanut butter production in China exceeded the figures recorded by the second-largest producer, the U.S. (418K tonnes), threefold. The third position in this ranking was occupied by India (397K tonnes), with a 7.6% share.
What are the leading suppliers of peanut butter and prepared or preserved groundnuts to Nigeria?
+
In value terms, the largest peanut butter suppliers to Nigeria were Ghana ($431K), South Africa ($231K) and India ($161K), with a combined 83% share of total imports.
What are the leading importers of peanut butter and prepared or preserved groundnuts from Nigeria?
+
In value terms, the United Arab Emirates ($49K), Canada ($35K) and South Africa ($848) appeared to be the largest markets for peanut butter exported from Nigeria worldwide, with a combined 84% share of total exports.
What is the average export price for peanut butter and prepared or preserved groundnuts in Nigeria?
+
In 2020, the average peanut butter export price amounted to $1,938 per tonne, rising by 20% against the previous year.
What is the average import price for peanut butter and prepared or preserved groundnuts in Nigeria?
+
The average peanut butter import price stood at $1,997 per tonne in 2020, which is down by -5.5% against the previous year.

Product coverage:
• Prodcom 10392330 - Prepared or preserved groundnuts (including peanut butter, e xcluding by vinegar or acetic acid, frozen, purees and pastes)

This report provides an in-depth analysis of the peanut butter 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 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 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, 2007–2020
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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