The poultry meat market in Nigeria has experienced fluctuations over the past decade. In 2014, the market size was at its peak with 251 thousand metric tons, but it dropped significantly by 21.12% in 2015 to 198 thousand metric tons. From 2016 to 2019, the market saw modest fluctuations, with a notable drop of 18.2% in 2020 due to global and local disruptions, bringing the value to 169.32 thousand metric tons. The year 2021 saw a recovery with an 18.71% increase to 201 thousand metric tons. However, since then, the market has shown a declining trend, with the 2023 value standing at 196 thousand metric tons. The average yearly variation per the last five years (CAGR) was -1.46%, and the forecasted CAGR for the next five years is -1.15%, predicting a decrease to 182.27 thousand metric tons by 2028.
Future trends to watch for include:
- Increasing domestic production capabilities to reduce import reliance.
- Policy changes to support poultry farming amidst economic challenges.
- Developments in sustainable and efficient farming practices to boost local supply.