The pork market in Nigeria has witnessed fluctuations over the past decade. In 2014, the market stood at 279,000 metric tons, increasing annually with slight variations, peaking at 289,000 metric tons in 2018. The market took a significant hit in 2020, decreasing to 239,870 metric tons, likely due to external factors. By 2021, it bounced back to 289,000 metric tons and stood at 291,000 metric tons in 2023. The year-on-year variation for the last two years shows a modest increase of 0.34%. The compound annual growth rate (CAGR) over the past five years is 0.14%.
Future forecasts predict continued growth in the pork market, reaching 294,460 metric tons by 2028, with a 5-year CAGR of 0.19% and an overall growth rate of 0.97%. Trends to watch include potential impacts of economic changes, consumer preferences, and health regulations that might affect market dynamics.
