In 2023, the onions market size volume in Nigeria stood at 1.50 million metric tons. For the forecasted period from 2024 to 2028, the market is projected to grow from 1.53 million metric tons to 1.67 million metric tons. The data suggests a positive growth trend in the onions market volume with year-on-year variations as follows: 2024 (2%), 2025 (2.6%), 2026 (1.9%), 2027 (2.5%), and 2028 (1.8%). The compound annual growth rate (CAGR) over these five years is approximately 2.2%.
Future Trends to Watch For:
Continued urbanization and population growth in Nigeria leading to increased demand for onions. Advancements in agricultural practices and technologies enhancing yield and supply chain efficiency. Government policies and incentives promoting local farming and reducing import dependency. Potential impacts of climate change on agricultural productivity and market dynamics. Economic factors influencing consumer purchasing power and food consumption patterns.