The Mutton and Goat Meat Market in Nigeria stood at 365 thousand metric tons in 2023. Over the last two years, the market has seen a year-on-year variation of -1.35% from 2022 to 2023 and -1.60% from 2021 to 2022. The five-year CAGR leading up to 2023 marked an average annual decline of -1.37%. Historically, the market has experienced significant fluctuations, including a notable drop of -18.49% in 2020. Forecasts indicate continued decline, with an anticipated CAGR of -1.38% from 2024 to 2028, and an overall decrease in volume by -6.71% over this five-year period.
Future trends to watch for include:
- Potential impacts of economic recovery and consumer spending on meat consumption patterns.
- Influences of climate change and agricultural policy on meat production.
- Market shifts due to alternative protein sources gaining popularity.
- Improvements in supply chain efficiencies and technological advancements in animal husbandry.