Nigeria Animal Feed Market (2024-2030) | Share, Forecast, Companies, Industry, Growth, Value, Analysis, Trends, Outlook, Revenue & Size

Market Forecast By Form (Pellets, Crumbles, Mash, Others), By Species (Poultry, Ruminants, Aqua, Swine, Others), By Type (Acidifiers, Probiotics, Enzyme, Antioxidants, Antibiotics, Vitamins, Minerals, Others) And Competitive Landscape

Product Code: ETC018489 Publication Date: Jun 2024 Updated Date: Jun 2024 Product Type: Report
Publisher: 6Wresearch No. of Pages: 70 No. of Figures: 35 No. of Tables: 5

Nigeria Animal Feed Market Competition 2023

Nigeria Animal Feed market currently, in 2023, has witnessed an HHI of 722, Which has decreased slightly as compared to the HHI of 958 in 2017. The market is moving towards highly competitive. Herfindahl index measures the competitiveness of exporting countries. The range lies from 0 to 10000, where a lower index number represents a larger number of players or exporting countries in the market while a large index number means fewer numbers of players or countries exporting in the market.

Nigeria Animal Feed Market Highlights

Report Name Nigeria Animal Feed Market
Forecast period 2024-2030
CAGR 7.8%
Growing Sector Poultry Farming 

Topics Covered in the Nigeria Animal Feed Market

Nigeria Animal Feed Market report thoroughly covers the market by form, by species, and by type. The market outlook report provides an unbiased and detailed analysis of the ongoing market trends, opportunities/high growth areas, and market drivers which would help the stakeholders to devise and align their market strategies according to the current and future market dynamics.

Nigeria Animal Feed Market Synopsis

Nigeria Animal Feed Market is one of the largest in Africa, and it is growing at an impressive rate. With a population of over 200 million people and a large livestock population, Nigeria has huge potential for the animal feed industry. The increasing demand for meat and dairy products has led to an increase in the number of farms, which in turn has resulted in a high demand for animal feed. The government has also taken steps to support the Nigeria Animal Feed Market Growth by establishing policies to improve the quality of animal feed and by providing incentives to farmers to expand their operations.

According to 6Wresearch, the Nigeria Animal Feed Market size is expected to grow at a CAGR of around 7.8% during the forecast period of 2024-2030. One of the key drivers of the market is the growing demand for animal protein due to the country's increasing population. Another driver is the government's support for agriculture, which includes incentives and subsidies for farmers who produce animal feed. The Nigeria animal feed industry is experiencing several trends, including a shift towards using more local ingredients in animal feed production as locally produced feed is cheaper and more accessible than imported feed. Additionally, there is an increasing demand for high-quality, nutritious feed that can improve animal health and productivity. GMO-free feed is also becoming more popular, as consumers become more conscious of the potential health risks associated with genetically modified organisms.

However, the Nigeria animal feed industry faces numerous challenges, including a lack of funding for animal feed research and development, inadequate infrastructure for feed production, and poor-quality control. Additionally, the high cost of imported ingredients and irregular power supply make it difficult to produce feed at a competitive price, making it difficult for local animal feed producers to compete with their foreign counterparts.

Government policies and schemes introduced in the Nigeria Animal Feed Market

Agriculture plays an important role in Nigeria's economy, and animal farming is an integral part of it. However, the country has been facing challenges in the animal feed sector for a long time. With the implementation of new government policies and schemes, the Nigeria Animal Feed Market has undergone significant changes in recent years. For instance,

National Livestock Transformation Plan (NLTP) - NLTP is a government initiative aimed at modernizing livestock farming in Nigeria. The plan aims to address the challenges facing animal husbandry in Nigeria, including the availability and affordability of animal feed. The plan includes the provision of animal feed, veterinary services, breeding, and other support services to farmers.

Central Bank of Nigeria (CBN) Anchor Borrowers' Programme - The CBN Anchor Borrowers' Programme is a government scheme that provides funding to smallholder farmers to improve their productivity. The programme aims to increase agricultural production in Nigeria by supporting smallholder farmers in accessing credit, improved seedlings, and other inputs.

Leading players in the Nigeria Animal Feed Market

The leading players in the animal feed industry in Nigeria, including Olam Nigeria Limited, UAC Foods Limited, and Premier Feed Mills Company Limited, have played a crucial role in transforming the sector and providing high-quality feed to farmers in the country. With the support of these players, the animal feed sector in Nigeria is poised for further growth in the coming years.

Future Insights of the Nigeria Animal Feed Market

Nigeria animal feed market is poised for growth driven by increased demand for high-quality livestock products as it encourages farmers to adopt more efficient and nutritious feed options. Additionally, advancements in agricultural technology and feed formulation are expected to enhance production efficiency and feed quality. Government initiatives and policies aimed at boosting local production and reducing reliance on imports are also likely to play a significant role in shaping the market's future. Furthermore, as awareness of animal nutrition and health continues to grow, the use of specialized feeds and additives is anticipated to rise, providing new opportunities for innovation and expansion in the sector.

Market Analysis by Form

According to Suryakant, Senior Research Analyst, 6Wresearch, the pellet segment dominates the Nigeria Animal Feed Market Share due to its easy-to-store, handle, and transport nature. Also, they provide high nutrient density, which is necessary for animal growth and health. Mash is the second-largest segment, commonly used for monogastric animals like poultry and swine. Crumbles are the third-largest segment used for poultry birds and smaller animals.

Market Analysis by Species

By Species, poultry is the dominant segment in Nigeria animal feed market. The growth in this segment is mainly due to the high per capita consumption of chicken and eggs in Nigeria. Ruminant animal feed is the second-largest segment, focusing on animals that digest feed by fermenting it.

Market Analyss by Type

By Type, acidifiers are the largest segment due to their ability to reduce the pH levels in the stomach, creating an unfavorable environment for harmful bacteria. Probiotics and enzymes are gaining popularity in Nigeria, with many producers adopting them for animal growth and disease prevention. Antioxidants and vitamins are essential to boost immunity and animal health and growth.

Key Attractiveness of the Report

  • 10 Years Market Numbers.
  • Historical Data Starting from 2020 to 2023.
  • Base Year: 2023
  • Forecast Data until 2030.
  • Key Performance Indicators Impacting the Market.
  • Major Upcoming Developments and Projects

Key Highlights of the Report

  • Nigeria Animal Feed Market Outlook
  • Market Size of Nigeria Animal Feed Market, 2023
  • Forecast of Nigeria Animal Feed Market, 2030
  • Historical Data and Forecast of Nigeria Animal Feed Revenues & Volume for the Period 2020- 2030
  • Nigeria Animal Feed Market Trend Evolution
  • Nigeria Animal Feed Market Drivers and Challenges
  • Nigeria Animal Feed Price Trends
  • Nigeria Animal Feed Porter's Five Forces
  • Nigeria Animal Feed Industry Life Cycle
  • Historical Data and Forecast of Nigeria Animal Feed Market Revenues & Volume By Form for the Period 2020- 2030
  • Historical Data and Forecast of Nigeria Animal Feed Market Revenues & Volume By Pellets for the Period 2020- 2030
  • Historical Data and Forecast of Nigeria Animal Feed Market Revenues & Volume By Crumbles for the Period 2020- 2030
  • Historical Data and Forecast of Nigeria Animal Feed Market Revenues & Volume By Mash for the Period 2020- 2030
  • Historical Data and Forecast of Nigeria Animal Feed Market Revenues & Volume By Others for the Period 2020- 2030
  • Historical Data and Forecast of Nigeria Animal Feed Market Revenues & Volume By Species for the Period 2020- 2030
  • Historical Data and Forecast of Nigeria Animal Feed Market Revenues & Volume By Poultry for the Period 2020- 2030
  • Historical Data and Forecast of Nigeria Animal Feed Market Revenues & Volume By Ruminants for the Period 2020- 2030
  • Historical Data and Forecast of Nigeria Animal Feed Market Revenues & Volume By Aqua for the Period 2020- 2030
  • Historical Data and Forecast of Nigeria Animal Feed Market Revenues & Volume By Swine for the Period 2020- 2030
  • Historical Data and Forecast of Nigeria Animal Feed Market Revenues & Volume By Others for the Period 2020- 2030
  • Historical Data and Forecast of Nigeria Animal Feed Market Revenues & Volume By Type for the Period 2020- 2030
  • Historical Data and Forecast of Nigeria Animal Feed Market Revenues & Volume By Acidifiers for the Period 2020- 2030
  • Historical Data and Forecast of Nigeria Animal Feed Market Revenues & Volume By Probiotics for the Period 2020- 2030
  • Historical Data and Forecast of Nigeria Animal Feed Market Revenues & Volume By Enzyme for the Period 2020- 2030
  • Historical Data and Forecast of Nigeria Animal Feed Market Revenues & Volume By Antioxidants for the Period 2020- 2030
  • Historical Data and Forecast of Nigeria Animal Feed Market Revenues & Volume By Antibiotics for the Period 2020- 2030
  • Historical Data and Forecast of Nigeria Animal Feed Market Revenues & Volume By Vitamins for the Period 2020- 2030
  • Historical Data and Forecast of Nigeria Animal Feed Market Revenues & Volume By Minerals for the Period 2020- 2030
  • Historical Data and Forecast of Nigeria Animal Feed Market Revenues & Volume By Others for the Period 2020- 2030
  • Nigeria Animal Feed Import Export Trade Statistics
  • Market Opportunity Assessment By Form
  • Market Opportunity Assessment By Species
  • Market Opportunity Assessment By Type
  • Nigeria Animal Feed Top Companies Market Share
  • Nigeria Animal Feed Competitive Benchmarking By Technical and Operational Parameters
  • Nigeria Animal Feed Company Profiles
  • Nigeria Animal Feed Key Strategic Recommendations

Market Covered

The report offers a comprehensive study of the subsequent market segments:

By Form

  • Pellets
  • Crumbles
  • Mash
  • Others

By Species

  • Poultry
  • Ruminants
  • Aqua
  • Swine
  • Others

By Type

  • Acidifiers
  • Probiotics
  • Enzyme
  • Antioxidants
  • Antibiotics
  • Vitamins
  • Minerals
  • Others
Nigeria Animal Feed Market (2024-2030): FAQs
Maize, soybeans, and wheat bran are key ingredients used in the manufacturing of animal feed in Nigeria.
The animal feed industry in Nigeria faces numerous challenges, including inadequate infrastructure, the high cost of raw materials, and poor-quality feed.
The demand for animal feed in Nigeria is on the rise, driven by the growing population, urbanization, and an increase in disposable income.
The primary sources of animal feed in Nigeria are maize, soybean, cassava, wheat bran, and palm kernel cake.
1 Executive Summary
2 Introduction
2.1 Key Highlights of the Report
2.2 Report Description
2.3 Market Scope & Segmentation
2.4 Research Methodology
2.5 Assumptions
3 Nigeria Animal Feed Market Overview
3.1 Nigeria Country Macro Economic Indicators
3.2 Nigeria Animal Feed Market Revenues & Volume, 2020 & 2030F
3.3 Nigeria Animal Feed Market - Industry Life Cycle
3.4 Nigeria Animal Feed Market - Porter's Five Forces
3.5 Nigeria Animal Feed Market Revenues & Volume Share, By Form, 2020 & 2030F
3.6 Nigeria Animal Feed Market Revenues & Volume Share, By Species, 2020 & 2030F
3.7 Nigeria Animal Feed Market Revenues & Volume Share, By Type, 2020 & 2030F
4 Nigeria Animal Feed Market Dynamics
4.1 Impact Analysis
4.2 Market Drivers
4.3 Market Restraints
5 Nigeria Animal Feed Market Trends
6 Nigeria Animal Feed Market, By Types
6.1 Nigeria Animal Feed Market, By Form
6.1.1 Overview and Analysis
6.1.2 Nigeria Animal Feed Market Revenues & Volume, By Form, 2020 - 2030F
6.1.3 Nigeria Animal Feed Market Revenues & Volume, By Pellets, 2020 - 2030F
6.1.4 Nigeria Animal Feed Market Revenues & Volume, By Crumbles, 2020 - 2030F
6.1.5 Nigeria Animal Feed Market Revenues & Volume, By Mash, 2020 - 2030F
6.1.6 Nigeria Animal Feed Market Revenues & Volume, By Others, 2020 - 2030F
6.2 Nigeria Animal Feed Market, By Species
6.2.1 Overview and Analysis
6.2.2 Nigeria Animal Feed Market Revenues & Volume, By Poultry, 2020 - 2030F
6.2.3 Nigeria Animal Feed Market Revenues & Volume, By Ruminants, 2020 - 2030F
6.2.4 Nigeria Animal Feed Market Revenues & Volume, By Aqua, 2020 - 2030F
6.2.5 Nigeria Animal Feed Market Revenues & Volume, By Swine, 2020 - 2030F
6.2.6 Nigeria Animal Feed Market Revenues & Volume, By Others, 2020 - 2030F
6.3 Nigeria Animal Feed Market, By Type
6.3.1 Overview and Analysis
6.3.2 Nigeria Animal Feed Market Revenues & Volume, By Acidifiers, 2020 - 2030F
6.3.3 Nigeria Animal Feed Market Revenues & Volume, By Probiotics, 2020 - 2030F
6.3.4 Nigeria Animal Feed Market Revenues & Volume, By Enzyme, 2020 - 2030F
6.3.5 Nigeria Animal Feed Market Revenues & Volume, By Antioxidants, 2020 - 2030F
6.3.6 Nigeria Animal Feed Market Revenues & Volume, By Antibiotics, 2020 - 2030F
6.3.7 Nigeria Animal Feed Market Revenues & Volume, By Vitamins, 2020 - 2030F
6.3.8 Nigeria Animal Feed Market Revenues & Volume, By Others, 2020 - 2030F
6.3.9 Nigeria Animal Feed Market Revenues & Volume, By Others, 2020 - 2030F
7 Nigeria Animal Feed Market Import-Export Trade Statistics
7.1 Nigeria Animal Feed Market Export to Major Countries
7.2 Nigeria Animal Feed Market Imports from Major Countries
8 Nigeria Animal Feed Market Key Performance Indicators
9 Nigeria Animal Feed Market - Opportunity Assessment
9.1 Nigeria Animal Feed Market Opportunity Assessment, By Form, 2020 & 2030F
9.2 Nigeria Animal Feed Market Opportunity Assessment, By Species, 2020 & 2030F
9.3 Nigeria Animal Feed Market Opportunity Assessment, By Type, 2020 & 2030F
10 Nigeria Animal Feed Market - Competitive Landscape
10.1 Nigeria Animal Feed Market Revenue Share, By Companies, 2023
10.2 Nigeria Animal Feed Market Competitive Benchmarking, By Operating and Technical Parameters
11 Company Profiles
12 Recommendations
13 Disclaimer
 

Market Forecast By Form (Pellets, Crumbles, Mash, Others), By Species (Poultry, Ruminants, Aqua, Swine, Others), By Type (Acidifiers, Probiotics, Enzyme, Antioxidants, Antibiotics, Vitamins, Minerals, Others) And Competitive Landscape

Product Code: ETC018489 Publication Date: Oct 2020 Product Type: Report
Publisher: 6Wresearch No. of Pages: 70 No. of Figures: 35 No. of Tables: 5

Nigeria Animal Feed Market is projected to grow over the coming year. Nigeria Animal Feed Market report is a part of our periodical regional publication Africa Animal Feed Market outlook report. 6W tracks Animal Feed market for over 60 countries with individual country-wise market opportunity assessment and publishes with the report titled Global Animal Feed Market outlook report annually.

Nigeria Animal Feed Market report thoroughly covers market by Form, species and type. The market report provides an unbiased and detailed analysis of the on-going market trends, opportunities/high growth areas and market drivers which would help the stakeholders to devise and align their market strategies according to the current and future market dynamics.

Nigeria Animal Feed Market Synopsis

Nigeria Animal Feed Market is expected to gain momentum during the forthcoming period on account of increasing urbanisation. The rising disposable income along with improvement in standard of living drives the demand for animal feed market. Moreover, people have now become more conscious regarding the health that further beholds the demand for high nutrition value and protein rich products which in turn further leading to the Nigeria Animal Feed Market Growth. The increasing consumption of milk and animal-based products is adding to the Nigeria Animal Feed Market Share.

According to 6Wresearch, Nigeria Animal Feed Market size is projected to register growth during 2020-2026. The increasing penetration towards keeping pets is driving the growth of the market. The rising production of livestock backed by increasing adoption of vegan diet has led to the development of the market. The combination of a growing population increases preference of people regarding dairy product is driving the demand for Animal Feed Market in Nigeria. Amid the outbreak of COVID-19 has led to the negative growth of the market. The nationwide lockdown and worldwide restriction has led to the disruption in supply chain further leading to the development of the market.

Market Analysis by Species

Based on Species, the poultry segment dominated the market and is expected to continue its position during the forthcoming period as well.

Key Attractiveness of the Report

  • COVID-19 Impact on the Market.
  • 10 Years Market Numbers.
  • Historical Data Starting from 2016 to 2019.
  • Base Year: 2019
  • Forecast Data until 2026.
  • Key Performance Indicators Impacting the Market.
  • Major Upcoming Developments and Projects.

Key Highlights of the Report:

  • Nigeria Animal Feed Market Outlook
  • Market Size of Nigeria Animal Feed Market, 2019
  • Forecast of Nigeria Animal Feed Market, 2026
  • Historical Data and Forecast of Nigeria Animal Feed Revenues & Volume for the Period 2016 - 2026
  • Nigeria Animal Feed Market Trend Evolution
  • Nigeria Animal Feed Market Drivers and Challenges
  • Nigeria Animal Feed Price Trends
  • Nigeria Animal Feed Porter's Five Forces
  • Nigeria Animal Feed Industry Life Cycle
  • Historical Data and Forecast of Nigeria Animal Feed Market Revenues & Volume By Form for the Period 2016 - 2026
  • Historical Data and Forecast of Nigeria Animal Feed Market Revenues & Volume By Pellets for the Period 2016 - 2026
  • Historical Data and Forecast of Nigeria Animal Feed Market Revenues & Volume By Crumbles for the Period 2016 - 2026
  • Historical Data and Forecast of Nigeria Animal Feed Market Revenues & Volume By Mash for the Period 2016 - 2026
  • Historical Data and Forecast of Nigeria Animal Feed Market Revenues & Volume By Others for the Period 2016 - 2026
  • Historical Data and Forecast of Nigeria Animal Feed Market Revenues & Volume By Species for the Period 2016 - 2026
  • Historical Data and Forecast of Nigeria Animal Feed Market Revenues & Volume By Poultry for the Period 2016 - 2026
  • Historical Data and Forecast of Nigeria Animal Feed Market Revenues & Volume By Ruminants for the Period 2016 - 2026
  • Historical Data and Forecast of Nigeria Animal Feed Market Revenues & Volume By Aqua for the Period 2016 - 2026
  • Historical Data and Forecast of Nigeria Animal Feed Market Revenues & Volume By Swine for the Period 2016 - 2026
  • Historical Data and Forecast of Nigeria Animal Feed Market Revenues & Volume By Others for the Period 2016 - 2026
  • Historical Data and Forecast of Nigeria Animal Feed Market Revenues & Volume By Type for the Period 2016 - 2026
  • Historical Data and Forecast of Nigeria Animal Feed Market Revenues & Volume By Acidifiers for the Period 2016 - 2026
  • Historical Data and Forecast of Nigeria Animal Feed Market Revenues & Volume By Probiotics for the Period 2016 - 2026
  • Historical Data and Forecast of Nigeria Animal Feed Market Revenues & Volume By Enzyme for the Period 2016 - 2026
  • Historical Data and Forecast of Nigeria Animal Feed Market Revenues & Volume By Antioxidants for the Period 2016 - 2026
  • Historical Data and Forecast of Nigeria Animal Feed Market Revenues & Volume By Antibiotics for the Period 2016 - 2026
  • Historical Data and Forecast of Nigeria Animal Feed Market Revenues & Volume By Vitamins for the Period 2016 - 2026
  • Historical Data and Forecast of Nigeria Animal Feed Market Revenues & Volume By Minerals for the Period 2016 - 2026
  • Historical Data and Forecast of Nigeria Animal Feed Market Revenues & Volume By Others for the Period 2016 - 2026
  • Nigeria Animal Feed Import Export Trade Statistics
  • Market Opportunity Assessment By Form
  • Market Opportunity Assessment By Species
  • Market Opportunity Assessment By Type
  • Nigeria Animal Feed Top Companies Market Share
  • Nigeria Animal Feed Competitive Benchmarking By Technical and Operational Parameters
  • Nigeria Animal Feed Company Profiles
  • Nigeria Animal Feed Key Strategic Recommendations

Market Segmentation:

The report provides a detailed analysis of the following market segments:

  • By Form

    • Pellets
    • Crumbles
    • Mash
    • Others

  • By Species

    • Poultry
    • Ruminants
    • Aqua
    • Swine
    • Others

  • By Type

    • Acidifiers
    • Probiotics
    • Enzyme
    • Antioxidants
    • Antibiotics
    • Vitamins
    • Minerals
    • Others

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