The forecast for the import of personal deodorants and antiperspirants to Nigeria from 2024 to 2028 indicates a gradual decline. Starting from a value of $4.6322 million in 2024, the imports are expected to slightly decrease each year, reaching $4.5321 million by 2028. The year-on-year variation is minimal, showing a trend of decreasing values by approximately 0.5% annually. In 2023, the import value stood at $4.6400 million, reflecting the descending trend over the forecast period. The Compound Annual Growth Rate (CAGR) over the five years is anticipated to be slightly negative, underlining the steady decrease in imports.
Future trends to watch for include:
- Potential changes in local production and increased self-sufficiency.
- Shifts in consumer preference towards local brands or alternative products.
- Economic policies and import regulations that may impact import volumes.
- Global supply chain dynamics and their influence on product availability and costs.