Nigeria - Frozen Fish Meat - Market Analysis, Forecast, Size, Trends and Insights
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View PricingFrozen Fish Meat Price in Nigeria - 2022
Contents:
- Frozen Fish Meat Price in Nigeria (CIF) - 2022
- Frozen Fish Meat Price in Nigeria (FOB) - 2022
- Frozen Fish Meat Imports in Nigeria
- Frozen Fish Meat Exports in Nigeria
Frozen Fish Meat Price in Nigeria (CIF) - 2022
In 2022, the average frozen fish meat import price amounted to $3,888 per ton, rising by 115% against the previous year. Over the period under review, the import price saw a resilient increase. As a result, import price reached the peak level and is likely to continue growth in the immediate term.
As there is only one major supplying country, 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 +13.1% per year.
Frozen Fish Meat Price in Nigeria (FOB) - 2022
The average frozen fish meat export price stood at $5,870 per ton in 2022, surging by 10% against the previous year. Over the last decade, it increased at an average annual rate of +1.4%. The pace of growth was the most pronounced in 2020 when the average export price increased by 22%. The export price peaked at $5,934 per ton in 2014; afterwards, it flattened through to 2022.
As there is only one major export destination, the average price level is determined by prices for France.
From 2012 to 2022, the rate of growth in terms of prices for France amounted to +1.9% per year.
Frozen Fish Meat Imports in Nigeria
In 2022, overseas purchases of frozen fish meat decreased by -97.6% to 3 tons, falling for the second consecutive year after two years of growth. In general, imports showed a precipitous decrease. The pace of growth was the most pronounced in 2020 with an increase of 88%. As a result, imports reached the peak of 242 tons. From 2021 to 2022, the growth of imports failed to regain momentum.
In value terms, frozen fish meat imports shrank remarkably to $12K in 2022. Over the period under review, imports saw a dramatic decrease. The pace of growth was the most pronounced in 2020 when imports increased by 95%. As a result, imports reached the peak of $343K. From 2021 to 2022, the growth of imports remained at a lower figure.
Import of Frozen Fish Meat in Nigeria (Thousand USD) | |||||
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COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
South Africa | 0.5 | 0.8 | 0.5 | 11.6 | 185.2% |
Norway | 6.2 | 8.7 | 4.2 | N/A | -17.7% |
Iceland | 163 | 318 | 214 | N/A | 14.6% |
Canada | 1.2 | 13.0 | 5.3 | N/A | 110.2% |
Others | 4.9 | 3.0 | 1.9 | N/A | -37.7% |
Total | 176 | 343 | 226 | 11.6 | -59.6% |
Top Suppliers of Frozen Fish Meat to Nigeria in 2022:
- South Africa (3.0 tons)
Frozen Fish Meat Exports in Nigeria
For the third consecutive year, Nigeria recorded decline in shipments abroad of frozen fish meat, which decreased by -2.6% to 9.8 tons in 2022. Over the period under review, exports showed a abrupt decline. The smallest decline of -2.2% was in 2021.
In value terms, frozen fish meat exports totaled $58K in 2022. The total export value increased at an average annual rate of +7.3% over the period from 2019 to 2022; the trend pattern remained consistent, with somewhat noticeable fluctuations being observed throughout the analyzed period. The growth pace was the most rapid in 2021 with an increase of 7.7%. The exports peaked in 2022 and are expected to retain growth in years to come.
Export of Frozen Fish Meat in Nigeria (Thousand USD) | |||||
---|---|---|---|---|---|
COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
France | 29.2 | 49.3 | 53.2 | 57.3 | 25.2% |
Niger | 0.2 | N/A | N/A | N/A | 0% |
Ghana | 17.1 | N/A | N/A | N/A | 0% |
Others | 0.3 | 0.5 | 0.4 | 0.4 | 10.1% |
Total | 46.8 | 49.8 | 53.7 | 57.8 | 7.3% |
Top Export Markets for Frozen Fish Meat from Nigeria in 2022:
- France (9.7 tons)
This report provides an in-depth analysis of the frozen fish meat 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 10201500 - Frozen fish meat without bones (excluding fillets)
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
- 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 VOLUME AND VALUE
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
- 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
- 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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Explore the top import markets for frozen fish meat and discover key statistics on countries leading the global trade. Find out which nations have the highest import values and demand for frozen fish meat.
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