The demand for mutton and goat meat in Nigeria has shown variability over the past decade, with significant fluctuations in year-on-year percentages. From a peak in 2014, demand steadily decreased through 2020, seeing drastic reductions during economic downturns and recovering slightly in subsequent years. As of 2023, the value stands at 365.0 thousand metric tons, reflecting a slight year-on-year decrease of 1.35%, consistent over recent years.
Looking forward, the forecasted data anticipates a continued gradual decline with an average annual drop (CAGR) of 1.38% from 2024 to 2028. This indicates a sustained downward trend with a cumulative decrease of 6.71% anticipated over the coming five years.
<**Future Trends to Watch For:**
- Economic factors: Currency fluctuations and economic stability can impact purchasing power.
- Consumer preferences: Shifting dietary habits could influence demand.
- Supply chain issues: Local production and import inconsistencies may affect availability.
- Policy changes: Government policies on livestock farming and trade could alter market dynamics.
