From 2014 to 2017, the coffee market in Nigeria remained stable with a volume of 6 thousand metric tons. A significant growth occurred in 2018, with a year-on-year increase of 33.33%, raising the volume to 8 thousand metric tons, maintaining this level through 2019. However, 2020 saw a dip of 17%, but by 2021, the volume rebounded back to 8 thousand metric tons, holding steady through to 2023. In 2024, the forecast predicts a slight increase to 8.2 thousand metric tons, with a projected annual growth rate (CAGR) of 1.21% over the next five years, culminating in a volume of 8.71 thousand metric tons by 2028.
Future trends to watch in Nigeria's coffee market include potential impacts from global supply chain disruptions, consumer preference shifts towards premium and specialty coffee, and the influence of local agricultural policies aimed at boosting coffee production. Climate change and technological advancements in farming practices might also play crucial roles in shaping the market.
