Updated Jan 22, 2023 18:47

Cucumber And Gherkin Market in Nigeria

Market Overview
The Nigerien cucumber and gherkin market was finally on the rise to reach $ in , after two years of decline. Over the period under review, consumption recorded significant growth. Over the period under review, the market attained the maximum level at $ in 2019; however, from to , consumption stood at a somewhat lower figure.


Consumption
In , after two years of decline, there was significant growth in consumption of cucumbers and gherkins, when its volume increased by % to tons. In general, consumption showed a significant expansion. Over the period under review, consumption reached the peak volume at tons in 2019; however, from to , consumption stood at a somewhat lower figure.

The revenue of the cucumber and gherkin market in Nigeria skyrocketed to $ in , growing by % against the previous year. This figure reflects the total revenues of producers and importers (excluding logistics costs, retail marketing costs, and retailers' margins, which will be included in the final consumer price). Over the period under review, consumption continues to indicate significant growth. Over the period under review, the market attained the peak level at $ in 2019; however, from to , consumption stood at a somewhat lower figure.


Market Forecast
Driven by increasing demand for cucumber and gherkin in Nigeria, the market is expected to continue an upward consumption trend over the next eight-year period. Market performance is forecast to decelerate, expanding with an anticipated CAGR of +% for the period from to , which is projected to bring the market volume to tons by the end of .

In value terms, the market is forecast to increase with an anticipated CAGR of +% for the period from to , which is projected to bring the market value to $ (in nominal prices) by the end of .


Market Structure
Cucumber and gherkin market in Nigeria consists almost entirely of imported products. In , the share of imports in total consumption accounted for % in value terms and % in physical terms. The share of imports decreased moderately (- percentage point) over the period under review.


Trade Balance
Nigeria remains a net importer of cucumber and gherkin; in physical and value terms, imports consistently exceeded exports from 2007 to . In , there was a significant trade deficit of tons, which was equal to $. This tangible trade deficit reflects the fact that the market remains dependent on imports, which is likely to continue in the medium term.