Forecast: Poultry Meat Slaughtering in Nigeria

The poultry meat slaughtering industry in Nigeria observed a gradual increase from 2013 until hitting a peak in 2018, followed by a noticeable dip in 2019 and 2020. In 2021, the industry rebounded slightly, maintaining a steady growth through to 2023, where it stood at 256.28 Million Units. The year-on-year growth in the last two years has been subdued with less than 1% increase annually. Over the last five years, the industry exhibited an average annual decline of 0.3% (CAGR). Looking ahead, the forecasted data indicates modest growth, with an average annual increase of 0.74% (CAGR) until 2028, culminating in a cumulative growth rate of 3.74% over this five-year period.

The future trends to watch for include the impact of economic policies on the agriculture sector, advancements in poultry farming technologies, and potential market disruptions such as diseases or supply chain issues. Additionally, shifts in consumer preferences towards sustainable and organic meat products could influence future slaughtering volumes.