The forecasted import of fermented milk into Nigeria indicates a steady decline from $6.6548 million in 2024 to $2.885 million by 2028. In 2023, the import value stood at $7.7 million. The year-on-year variations show a decrease of approximately 14.6% from 2024 to 2025, 16.8% from 2025 to 2026, 19.7% from 2026 to 2027, and 24.1% from 2027 to 2028. The five-year compound annual growth rate (CAGR) indicates an average yearly decrease of about 17.5%.
Future trends to watch for include regulatory changes, economic conditions impacting disposable income, and local dairy industry developments. Monitoring these factors will help in anticipating shifts in import demand and market dynamics.
