Nigeria - Spices - Market Analysis, Forecast, Size, Trends and Insights
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View PricingNigeria: Spice Market 2024
Spice Market Size in Nigeria
In 2022, the Nigerien spice market decreased by X% to $X for the first time since 2019, thus ending a two-year rising trend. Overall, consumption, however, showed a relatively flat trend pattern. Spice consumption peaked at $X in 2017; however, from 2018 to 2022, consumption failed to regain momentum.
Spice Production in Nigeria
In value terms, spice production rose markedly to $X in 2022 estimated in export price. Over the period under review, production showed a deep contraction. The pace of growth appeared the most rapid in 2015 when the production volume increased by X% against the previous year. Spice production peaked at $X in 2012; however, from 2013 to 2022, production failed to regain momentum.
The average yield of spices in Nigeria contracted modestly to X tons per ha in 2022, which is down by X% compared with 2021. Overall, the yield, however, posted strong growth. The most prominent rate of growth was recorded in 2015 with an increase of X% against the previous year. Over the period under review, the average spice yield reached the maximum level at X tons per ha in 2016; however, from 2017 to 2022, the yield stood at a somewhat lower figure. Despite the increased use of modern agricultural techniques and methods, future yield figures may still be impacted by adverse weather conditions.
In 2022, the total area harvested in terms of spices production in Nigeria dropped slightly to X ha, approximately reflecting 2021. In general, the harvested area continues to indicate a relatively flat trend pattern. The growth pace was the most rapid in 2015 when the harvested area increased by X%. Over the period under review, the harvested area dedicated to spice production reached the peak figure at X ha in 2013; however, from 2014 to 2022, the harvested area failed to regain momentum.
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Spice Exports
Exports from Nigeria
For the third year in a row, Nigeria recorded growth in overseas shipments of spices, which increased by X% to X tons in 2022. Over the period under review, exports posted perceptible growth. The most prominent rate of growth was recorded in 2018 when exports increased by X%. Over the period under review, the exports hit record highs in 2022 and are likely to continue growth in the immediate term.
In value terms, spice exports skyrocketed to $X in 2022. In general, exports, however, showed a pronounced contraction. The most prominent rate of growth was recorded in 2018 when exports increased by X%. The exports peaked at $X in 2013; however, from 2014 to 2022, the exports stood at a somewhat lower figure.
Exports by Country
India (X tons), Sudan (X tons) and the United Arab Emirates (X tons) were the main destinations of spice exports from Nigeria, with a combined X% share of total exports.
From 2012 to 2022, the biggest increases were recorded for Sudan (with a CAGR of X%), while shipments for the other leaders experienced more modest paces of growth.
In value terms, the largest markets for spice exported from Nigeria were India ($X), the United Arab Emirates ($X) and Sudan ($X), with a combined X% share of total exports.
Among the main countries of destination, the United Arab Emirates, with a CAGR of X%, saw 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 spice export price stood at $X per ton in 2022, rising by X% against the previous year. Overall, the export price, however, saw a deep slump. The most prominent rate of growth was recorded in 2020 when the average export price increased by X%. Over the period under review, the average export prices attained the peak figure at $X per ton in 2017; however, from 2018 to 2022, the export prices stood at a somewhat lower figure.
There were significant differences in the average prices for the major external markets. In 2022, amid the top suppliers, the country with the highest price was Vietnam ($X per ton), while the average price for exports to Ghana ($X per ton) was amongst the lowest.
From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to South Africa (X%), while the prices for the other major destinations experienced mixed trend patterns.
Spice Imports
Imports into Nigeria
In 2022, the amount of spices imported into Nigeria skyrocketed to X tons, jumping by X% against the previous year's figure. Overall, imports posted a resilient increase. The growth pace was the most rapid in 2018 with an increase of X%. Imports peaked in 2022 and are likely to see gradual growth in the immediate term.
In value terms, spice imports surged to $X in 2022. In general, imports saw a buoyant increase. As a result, imports attained the peak and are likely to continue growth in the immediate term.
Imports by Country
China (X tons), the UK (X tons) and India (X tons) were the main suppliers of spice imports to Nigeria, together comprising X% of total imports. France, Spain, Morocco, Lebanon, the Netherlands, the United States and South Africa lagged somewhat behind, together comprising a further X%.
From 2012 to 2022, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by Spain (with a CAGR of X%), while imports for the other leaders experienced more modest paces of growth.
In value terms, China ($X), the UK ($X) and India ($X) were the largest spice suppliers to Nigeria, together accounting for X% of total imports. France, Morocco, Spain, the United States, Lebanon, the Netherlands and South Africa lagged somewhat behind, together comprising a further X%.
Among the main suppliers, Spain, with a CAGR of X%, recorded 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 spice import price stood at $X per ton in 2022, reducing by X% against the previous year. In general, the import price, however, showed a relatively flat trend pattern. The pace of growth appeared the most rapid in 2016 when the average import price increased by X% against the previous year. As a result, import price attained the peak level of $X per ton. From 2017 to 2022, the average import prices failed to regain momentum.
There were significant differences in the average prices amongst the major supplying countries. In 2022, amid the top importers, the country with the highest price was Morocco ($X per ton), while the price for the Netherlands ($X per ton) was amongst the lowest.
From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Morocco (X%), while the prices for the other major suppliers experienced more modest paces of growth.
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Frequently Asked Questions (FAQ) :
This report provides an in-depth analysis of the spice 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:
- FCL 687 - Pepper
- FCL 689 - Pimento
- FCL 692 - Vanilla
- FCL 693 - Cinnamon (canella)
- FCL 698 - Cloves
- FCL 702 - Nutmeg, mace, cardamoms
- FCL 711 - Anise, badian, fennel
- FCL 720 - Ginger
- FCL 723 - Spices nes
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
- COUNTRIES WITH TOP YIELDS
- 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, HARVESTED AREA AND YIELD
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
- Yield 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
- Area Harvested, 2012–2023
- Yield, 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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