Report Update Apr 1, 2024

Nigeria - Rice Bran - Market Analysis, Forecast, Size, Trends and Insights

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Nigeria: Rice Bran Market 2024

Rice Bran Market Size in Nigeria

The Nigerien rice bran market rose significantly to $X in 2022, surging by X% against the previous year. Over the period under review, consumption posted a tangible increase. Rice bran consumption peaked at $X in 2018; however, from 2019 to 2022, consumption stood at a somewhat lower figure.

Rice Bran Production in Nigeria

In value terms, rice bran production totaled $X in 2022 estimated in export price. In general, production saw a temperate expansion. The most prominent rate of growth was recorded in 2017 when the production volume increased by X% against the previous year. Over the period under review, production reached the maximum level at $X in 2018; however, from 2019 to 2022, production remained at a lower figure.

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Rice Bran Exports

Exports from Nigeria

Rice bran exports from Nigeria dropped notably to X tons in 2022, waning by X% compared with 2021. Over the period under review, exports continue to indicate a slight decrease. The most prominent rate of growth was recorded in 2014 with an increase of X%. Over the period under review, the exports attained the peak figure at X tons in 2018; however, from 2019 to 2022, the exports remained at a lower figure.

In value terms, rice bran exports contracted rapidly to $X in 2022. In general, exports showed a relatively flat trend pattern. The most prominent rate of growth was recorded in 2014 with an increase of X%. Over the period under review, the exports hit record highs at $X in 2018; however, from 2019 to 2022, the exports stood at a somewhat lower figure.

Exports by Country

Turkey (X tons) was the main destination for rice bran exports from Nigeria, with a approx. X% share of total exports.

From 2012 to 2022, the average annual rate of growth in terms of volume to Turkey was relatively modest.

In value terms, Turkey ($X) emerged as the key foreign market for rice bran exports from Nigeria.

From 2012 to 2022, the average annual rate of growth in terms of value to Turkey was relatively modest.

Export Prices by Country

The average rice bran export price stood at $X per ton in 2022, rising by X% against the previous year. In general, the export price posted mild growth. Over the period under review, the average export prices hit record highs at $X per ton in 2013; however, from 2014 to 2022, the export prices failed to regain momentum.

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

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

Rice Bran Imports

Imports into Nigeria

In 2022, the amount of rice bran imported into Nigeria surged to X tons, increasing by X% on the year before. Over the period under review, imports posted a significant expansion. Over the period under review, imports attained the maximum at X tons in 2020; however, from 2021 to 2022, imports remained at a lower figure.

In value terms, rice bran imports surged to $X in 2022. Overall, imports posted a significant expansion. The pace of growth was the most pronounced in 2018 with an increase of X%. Over the period under review, imports hit record highs at $X in 2020; however, from 2021 to 2022, imports stood at a somewhat lower figure.

Imports by Country

In 2022, the UK (X tons) constituted the largest rice bran supplier to Nigeria, with a X% share of total imports. Moreover, rice bran imports from the UK exceeded the figures recorded by the second-largest supplier, France (X tons), twofold.

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

In value terms, the UK ($X) constituted the largest supplier of rice bran to Nigeria, comprising X% of total imports. The second position in the ranking was held by France ($X), with a X% share of total imports.

From 2012 to 2022, the average annual rate of growth in terms of value from the UK amounted to X%. The remaining supplying countries recorded the following average annual rates of imports growth: France (X% per year) and the United States (X% per year).

Import Prices by Country

The average rice bran import price stood at $X per ton in 2022, flattening at the previous year. Over the period under review, the import price continues to indicate a noticeable slump. The pace of growth was the most pronounced in 2018 an increase of X% against the previous year. As a result, import price reached the peak level of $X per ton. From 2019 to 2022, the average import prices remained at a somewhat lower figure.

Average prices varied noticeably amongst the major supplying countries. In 2022, amid the top importers, the country with the highest price was the United States ($X per ton), while the price for France ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by China (X%), 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 rice bran in the world?

The countries with the highest volumes of consumption in 2023 were China, the United States and India, together accounting for 33% of global consumption. Japan, Pakistan, Russia, Indonesia, Bangladesh, Brazil, Nigeria, Germany, Mexico and Turkey lagged somewhat behind, together accounting for a further 24%.

What are the largest producers of rice bran in the world?

The countries with the highest volumes of production in 2022 were China, the United States and India, with a combined 30% share of global production. Vietnam, Russia, Japan, Pakistan, Indonesia, Bangladesh, Germany, Brazil, Nigeria and Mexico lagged somewhat behind, together comprising a further 28%.

What are the leading suppliers of rice bran to Nigeria?

In value terms, the UK constituted the largest supplier of rice bran to Nigeria, comprising 67% of total imports. The second position in the ranking was held by France, with a 29% share of total imports.

What are the leading importers of rice bran from Nigeria?

In value terms, Turkey emerged as the key foreign market for rice bran exports from Nigeria.

What is the average export price for rice bran in Nigeria?

In 2022, the average rice bran export price amounted to $148 per ton, with an increase of 68% against the previous year.

What is the average import price for rice bran in Nigeria?

In 2022, the average rice bran import price amounted to $292 per ton, stabilizing at the previous year.

This report provides an in-depth analysis of the rice bran 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 2030.

Product coverage:

Prodcom 10614030 - Bran, sharps and other residues from the sifting, milling or other working of rice

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.

1. INTRODUCTION

Making Data-Driven Decisions to Grow Your Business
1. REPORT DESCRIPTION
2. RESEARCH METHODOLOGY AND AI PLATFORM
3. DATA-DRIVEN DECISIONS FOR YOUR BUSINESS
4. GLOSSARY AND SPECIFIC TERMS
2. EXECUTIVE SUMMARY

A Quick Overview of Market Performance
1. KEY FINDINGS
2. MARKET TRENDS This Chapter is Available Only for the Professional Edition PRO
3. MARKET OVERVIEW

Understanding the Current State of The Market and Its Prospects
1. MARKET SIZE
2. MARKET STRUCTURE
3. TRADE BALANCE
4. PER CAPITA CONSUMPTION
5. MARKET FORECAST TO 2030
4. MOST PROMISING PRODUCT

Finding New Products to Diversify Your Business
This Chapter is Available Only for the Professional Edition PRO
1. TOP PRODUCTS TO DIVERSIFY YOUR BUSINESS
2. BEST-SELLING PRODUCTS
3. MOST CONSUMED PRODUCT
4. MOST TRADED PRODUCT
5. MOST PROFITABLE PRODUCT FOR EXPORT
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
1. TOP COUNTRIES TO SOURCE YOUR PRODUCT
2. TOP PRODUCING COUNTRIES
3. TOP EXPORTING COUNTRIES
4. LOW-COST EXPORTING COUNTRIES
6. MOST PROMISING OVERSEAS MARKETS

Choosing the Best Countries to Boost Your Exports
This Chapter is Available Only for the Professional Edition PRO
1. TOP OVERSEAS MARKETS FOR EXPORTING YOUR PRODUCT
2. TOP CONSUMING MARKETS
3. UNSATURATED MARKETS
4. TOP IMPORTING MARKETS
5. MOST PROFITABLE MARKETS
7. PRODUCTION

The Latest Trends and Insights into The Industry
1. PRODUCTION VOLUME AND VALUE
8. IMPORTS
The Largest Import Supplying Countries
1. IMPORTS FROM 2012–2023
2. IMPORTS BY COUNTRY
3. IMPORT PRICES BY COUNTRY
9. EXPORTS
The Largest Destinations for Exports
1. EXPORTS FROM 2012–2023
2. EXPORTS BY COUNTRY
3. EXPORT PRICES BY COUNTRY
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
1. Key Findings In 2023
2. Market Volume, In Physical Terms, 2012–2023
3. Market Value, 2012–2023
4. Per Capita Consumption In 2012-2023
5. Imports, In Physical Terms, By Country, 2012–2023
6. Imports, In Value Terms, By Country, 2012–2023
7. Import Prices, By Country Of Origin, 2012–2023
8. Exports, In Physical Terms, By Country, 2012–2023
9. Exports, In Value Terms, By Country, 2012–2023
10. Export Prices, By Country Of Destination, 2012–2023
LIST OF FIGURES
1. Market Volume, In Physical Terms, 2012–2023
2. Market Value, 2012–2023
3. Market Structure – Domestic Supply vs. Imports, In Physical Terms, 2012-2023
4. Market Structure – Domestic Supply vs. Imports, In Value Terms, 2012-2023
5. Trade Balance, In Physical Terms, 2012-2023
6. Trade Balance, In Value Terms, 2012-2023
7. Per Capita Consumption, 2012-2023
8. Market Volume Forecast to 2030
9. Market Value Forecast to 2030
10. Products: Market Size And Growth, By Type
11. Products: Average Per Capita Consumption, By Type
12. Products: Exports And Growth, By Type
13. Products: Export Prices And Growth, By Type
14. Production Volume And Growth
15. Exports And Growth
16. Export Prices And Growth
17. Market Size And Growth
18. Per Capita Consumption
19. Imports And Growth
20. Import Prices
21. Production, In Physical Terms, 2012–2023
22. Production, In Value Terms, 2012–2023
23. Imports, In Physical Terms, 2012–2023
24. Imports, In Value Terms, 2012–2023
25. Imports, In Physical Terms, By Country, 2023
26. Imports, In Physical Terms, By Country, 2012–2023
27. Imports, In Value Terms, By Country, 2012–2023
28. Import Prices, By Country Of Origin, 2012–2023
29. Exports, In Physical Terms, 2012–2023
30. Exports, In Value Terms, 2012–2023
31. Exports, In Physical Terms, By Country, 2023
32. Exports, In Physical Terms, By Country, 2012–2023
33. Exports, In Value Terms, By Country, 2012–2023
34. Export Prices, By Country Of Destination, 2012–2023