Nigeria - Mixtures of Odoriferous Substances and Their Preparations - Market Analysis, Forecast, Size, Trends and Insights
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View PricingNigeria: Odoriferous Substance Mixture Market 2024
Odoriferous Substance Mixture Market Size in Nigeria
For the third year in a row, the Nigerien odoriferous substance mixture market recorded decline in sales value, which decreased by X% to $X in 2023. Overall, consumption showed a pronounced decline. As a result, consumption reached the peak level of $X. From 2021 to 2023, the growth of the market remained at a lower figure.
Odoriferous Substance Mixture Exports
Exports from Nigeria
In 2023, odoriferous substance mixture exports from Nigeria declined rapidly to X tons, waning by X% on 2022. Overall, exports, however, saw a buoyant increase. The pace of growth was the most pronounced in 2022 when exports increased by X% against the previous year. As a result, the exports attained the peak of X tons, and then contracted rapidly in the following year.
In value terms, odoriferous substance mixture exports skyrocketed to $X in 2023. In general, exports, however, showed perceptible growth. The most prominent rate of growth was recorded in 2014 when exports increased by X%. The exports peaked at $X in 2021; however, from 2022 to 2023, the exports failed to regain momentum.
Exports by Country
Burkina Faso (X tons) was the main destination for odoriferous substance mixture exports from Nigeria, accounting for a X% share of total exports. Moreover, odoriferous substance mixture exports to Burkina Faso exceeded the volume sent to the second major destination, Ghana (X tons), threefold.
From 2012 to 2023, the average annual growth rate of volume to Burkina Faso totaled X%. Exports to the other major destinations recorded the following average annual rates of exports growth: Ghana (X% per year) and Tanzania (X% per year).
In value terms, the largest markets for odoriferous substance mixture exported from Nigeria were Tanzania ($X), Ghana ($X) and Burkina Faso ($X), with a combined X% share of total exports.
Burkina Faso, with a CAGR of X%, saw the highest rates of growth with regard to the value of exports, in terms of the main countries of destination over the period under review, while shipments for the other leaders experienced more modest paces of growth.
Export Prices by Country
In 2023, the average odoriferous substance mixture export price amounted to $X per ton, rising by X% against the previous year. Over the period under review, the export price, however, recorded a abrupt shrinkage. The export price peaked at $X per ton in 2021; however, from 2022 to 2023, the export prices stood at a somewhat lower figure.
There were significant differences in the average prices for the major overseas markets. In 2023, amid the top suppliers, the country with the highest price was Tanzania ($X per ton), while the average price for exports to Burkina Faso ($X per ton) was amongst the lowest.
From 2012 to 2023, the most notable rate of growth in terms of prices was recorded for supplies to Burkina Faso (X%), while the prices for the other major destinations experienced more modest paces of growth.
Odoriferous Substance Mixture Imports
Imports into Nigeria
In 2023, overseas purchases of mixtures of odoriferous substances and their preparations decreased by X% to X tons, falling for the third year in a row after three years of growth. Overall, imports recorded a deep contraction. The pace of growth appeared the most rapid in 2020 when imports increased by X% against the previous year. Over the period under review, imports reached the maximum at X tons in 2012; however, from 2013 to 2023, imports stood at a somewhat lower figure.
In value terms, odoriferous substance mixture imports reduced to $X in 2023. Over the period under review, imports showed a perceptible shrinkage. The growth pace was the most rapid in 2020 when imports increased by X%. As a result, imports attained the peak of $X. From 2021 to 2023, the growth of imports remained at a lower figure.
Imports by Country
Ireland (X tons), Swaziland (X tons) and India (X tons) were the main suppliers of odoriferous substance mixture imports to Nigeria, together accounting for X% of total imports. Germany, Spain, the UK, Switzerland, China, Indonesia, Egypt, France, South Africa and the Netherlands lagged somewhat behind, together accounting for a further X%.
From 2012 to 2023, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by Egypt (with a CAGR of X%), while imports for the other leaders experienced more modest paces of growth.
In value terms, Swaziland ($X) constituted the largest supplier of mixtures of odoriferous substances and their preparations to Nigeria, comprising X% of total imports. The second position in the ranking was taken by Ireland ($X), with a X% share of total imports. It was followed by the UK, with a X% share.
From 2012 to 2023, the average annual rate of growth in terms of value from Swaziland amounted to X%. The remaining supplying countries recorded the following average annual rates of imports growth: Ireland (X% per year) and the UK (X% per year).
Import Prices by Country
The average odoriferous substance mixture import price stood at $X per ton in 2023, remaining stable against the previous year. Overall, import price indicated a pronounced increase from 2012 to 2023: its price increased at an average annual rate of X% over the last eleven years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2023 figures, odoriferous substance mixture import price decreased by X% against 2020 indices. The pace of growth appeared the most rapid in 2013 when the average import price increased by X%. The import price peaked at $X per ton in 2016; however, from 2017 to 2023, import prices remained at a lower figure.
There were significant differences in the average prices amongst the major supplying countries. In 2023, amid the top importers, the country with the highest price was Swaziland ($X per ton), while the price for China ($X per ton) was amongst the lowest.
From 2012 to 2023, the most notable rate of growth in terms of prices was attained by South Africa (X%), while the prices for the other major suppliers experienced more modest paces of growth.
Source: IndexBox Platform
This report provides an in-depth analysis of the odoriferous substance mixture 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 20531075 - Mixtures of odoriferous substances of a kind used in the food or drink industries
- Prodcom 20531079 - Mixtures of odoriferous substances (excluding those of a kind used in the food or drink industries)
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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