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Nigeria Animal Feed Market Size, Share, Trends, Growth: By Type: Fodder and Forage, Compound Feed; By Livestock: Pork, Aquatic Animal, Cattle, Poultry, Others; By Raw Material: Soy, Corn, Others; Market Dynamics: SWOT Analysis, Porter’s Five Forces Analysis, Key Indicators for Demand, Key Indicators of Price; Competitive Landscape; 2024-2032
Nigeria Animal Feed Market Size
The Nigeria animal feed market reached approximately 15.18 million tons in 2023. The market is projected to grow at a CAGR of 1.80% between 2024 and 2032, reaching a volume of around 17.82 million tons by 2032.
Nigeria Animal Feed Market Outlook
- As per the Ministry of Agriculture and Rural Development, the southwestern part of Nigeria accounts for around 75 per cent of total feed mills in the country.
- In 2021, the Nigerian government announced that it aims to reach annual production of over 50 million metric tonnes of animal feed.
- As per industry reports, the livestock sector contributes around 5 per cent to the total GDP of the country, creating a flourishing landscape for animal feed demand.
Nigeria Animal Feed Market Growth
The rapid urbanisation, growing demand for meat and dairy-based products, and increased incorporation of sustainable practices in feed production are some of the influential market drivers. Nigerian feed providers are increasingly recognising the importance of sustainable practices in the feed sector and incorporating alternative proteins such as insect meal which have a lower footprint compared to traditional feed raw materials.
There is also a notable rise in the production and usage of customised feeds that are specifically formulated to meet the unique nutritional needs of different animal species and stages of development, such as starter, grower, and finisher feeds for poultry to ensure the proper growth of the livestock. Furthermore, the usage of digital tools is on the rise within the feed manufacturing sector as it aids in monitoring feed consumption, tracking animal well-being, and improving overall farm operations.
Nigeria Animal Feed Industry Segmentation
“Nigeria Animal Feed Market Report and Forecast 2024-2032” offers a detailed analysis of the market based on the following segments:
Market Breakup by Type
- Fodder and Forage
- Compound Feed
Market Breakup by Livestock
- Pork
- Aquatic Animal
- Cattle
- Poultry
- Others
Market Breakup by Raw Material
- Soy
- Corn
- Others
Nigeria Animal Feed Market Share
Based on livestock, the market is divided into pork, aquatic animal, cattle, and poultry, among others. The poultry sector accounts for a significant market share as meat and eggs are a staple part of the Nigerian diet and this strong demand and widespread consumption of poultry products significantly contribute to the usage of poultry feed. Additionally, as urbanisation increases and disposable incomes rise, the demand for poultry products is anticipated to rise, thereby propelling growth in the segment growth.
Leading Companies in the Nigeria Animal Feed Market
The market participants are enhancing their technological capabilities to gain a competitive edge in the market.
- Olam Group Limited
- Flour Mills of Nigeria Plc
- Nutreco N.V.
- Livestock Feeds Plc
- Abertop Animal Health Feeds Nig. Ltd.
- Turraco Industrial Limited
- Others
Key Highlights of the Report
| REPORT FEATURES | DETAILS |
| Base Year | 2023 |
| Historical Period | 2018-2023 |
| Forecast Period | 2024-2032 |
| Scope of the Report |
Historical and Forecast Trends, Industry Drivers and Constraints, Historical and Forecast Market Analysis by Segment:
|
| Breakup by Type |
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| Breakup by Livestock |
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| Breakup by Raw Material |
|
| Market Dynamics |
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| Competitive Landscape |
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| Companies Covered |
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*While we strive to always give you current and accurate information, the numbers depicted on the website are indicative and may differ from the actual numbers in the main report. At Expert Market Research, we aim to bring you the latest insights and trends in the market. Using our analyses and forecasts, stakeholders can understand the market dynamics, navigate challenges, and capitalize on opportunities to make data-driven strategic decisions.
1 Preface
2 Report Coverage – Key Segmentation and Scope
3 Report Description
3.1 Market Definition and Outlook
3.2 Properties and Applications
3.3 Market Analysis
3.4 Key Players
4 Key Assumptions
5 Executive Summary
5.1 Overview
5.2 Key Drivers
5.3 Key Developments
5.4 Competitive Structure
5.5 Key Industrial Trends
6 Market Snapshot
7 Opportunities and Challenges in the Market
8 Middle East and Africa Animal Feed Market Overview
8.1 Key Industry Highlights
8.2 Middle East and Africa Animal Feed Historical Market (2018-2023)
8.3 Middle East and Africa Animal Feed Market Forecast (2024-2032)
9 Nigeria Animal Feed Market Overview
9.1 Key Industry Highlights
9.2 Nigeria Animal Feed Historical Market (2018-2023)
9.3 Nigeria Animal Feed Market Forecast (2024-2032)
10 Nigeria Animal Feed Market by Type
10.1 Fodder and Forage
10.1.1 Historical Trend (2018-2023)
10.1.2 Forecast Trend (2024-2032)
10.2 Compound Feed
10.2.1 Historical Trend (2018-2023)
10.2.2 Forecast Trend (2024-2032)
11 Nigeria Animal Feed Market by Livestock
11.1 Pork
11.1.1 Historical Trend (2018-2023)
11.1.2 Forecast Trend (2024-2032)
11.2 Aquatic Animal
11.2.1 Historical Trend (2018-2023)
11.2.2 Forecast Trend (2024-2032)
11.3 Cattle
11.3.1 Historical Trend (2018-2023)
11.3.2 Forecast Trend (2024-2032)
11.4 Poultry
11.4.1 Historical Trend (2018-2023)
11.4.2 Forecast Trend (2024-2032)
11.5 Others
12 Nigeria Animal Feed Market by Raw Material
12.1 Soy
12.1.1 Historical Trend (2018-2023)
12.1.2 Forecast Trend (2024-2032)
12.2 Corn
12.2.1 Historical Trend (2018-2023)
12.2.2 Forecast Trend (2024-2032)
12.3 Others
13 Market Dynamics
13.1 SWOT Analysis
13.1.1 Strengths
13.1.2 Weaknesses
13.1.3 Opportunities
13.1.4 Threats
13.2 Porter’s Five Forces Analysis
13.2.1 Supplier’s Power
13.2.2 Buyer’s Power
13.2.3 Threat of New Entrants
13.2.4 Degree of Rivalry
13.2.5 Threat of Substitutes
13.3 Key Indicators of Demand
13.4 Key Indicators of Price
14 Competitive Landscape
14.1 Market Structure
14.2 Company Profiles
14.2.1 Olam Group Limited
14.2.1.1 Company Overview
14.2.1.2 Product Portfolio
14.2.1.3 Demographic Reach and Achievements
14.2.1.4 Certifications
14.2.2 Flour Mills of Nigeria Plc
14.2.2.1 Company Overview
14.2.2.2 Product Portfolio
14.2.2.3 Demographic Reach and Achievements
14.2.2.4 Certifications
14.2.3 Nutreco N.V.
14.2.3.1 Company Overview
14.2.3.2 Product Portfolio
14.2.3.3 Demographic Reach and Achievements
14.2.3.4 Certifications
14.2.4 Livestock Feeds Plc
14.2.4.1 Company Overview
14.2.4.2 Product Portfolio
14.2.4.3 Demographic Reach and Achievements
14.2.4.4 Certifications
14.2.5 Abertop Animal Health Feeds Nig. Ltd.
14.2.5.1 Company Overview
14.2.5.2 Product Portfolio
14.2.5.3 Demographic Reach and Achievements
14.2.5.4 Certifications
14.2.6 Turraco Industrial Limited
14.2.6.1 Company Overview
14.2.6.2 Product Portfolio
14.2.6.3 Demographic Reach and Achievements
14.2.6.4 Certifications
14.2.7 Others
15 Key Trends and Developments in the Market
List of Key Figures and Tables
1. Middle East and Africa Animal Feed Market: Key Industry Highlights (Million Tons), 2018 and 2032
2. Middle East and Africa Animal Feed Market: Key Industry Highlights (Million Tons), 2018 and 2032
3. Nigeria Animal Feed Market: Key Industry Highlights (Million Tons), 2018 and 2032
4. Nigeria Animal Feed Market: Key Industry Highlights (Million Tons), 2018 and 2032
5. Nigeria Animal Feed Historical Market: Breakup by Type (Million Tons), 2018-2023
6. Nigeria Animal Feed Market Forecast: Breakup by Type (Million Tons), 2024-2032
7. Nigeria Animal Feed Historical Market: Breakup by Type (Million Tons), 2018-2023
8. Nigeria Animal Feed Market Forecast: Breakup by Type (Million Tons), 2024-2032
9. Nigeria Animal Feed Historical Market: Breakup by Livestock (Million Tons), 2018-2023
10. Nigeria Animal Feed Market Forecast: Breakup by Livestock (Million Tons), 2024-2032
11. Nigeria Animal Feed Historical Market: Breakup by Livestock (Million Tons), 2018-2023
12. Nigeria Animal Feed Market Forecast: Breakup by Livestock (Million Tons), 2024-2032
13. Nigeria Animal Feed Historical Market: Breakup by Raw Material (Million Tons), 2018-2023
14. Nigeria Animal Feed Market Forecast: Breakup by Raw Material (Million Tons), 2024-2032
15. Nigeria Animal Feed Historical Market: Breakup by Raw Material (Million Tons), 2018-2023
16. Nigeria Animal Feed Market Forecast: Breakup by Raw Material (Million Tons), 2024-2032
17. Nigeria Animal Feed Market Structure
Key Questions Answered in the Report
In 2023, the market reached an approximate volume of 15.18 million tons.
The market is estimated to grow at a CAGR of 1.80% between 2024 and 2032.
The market is estimated to witness a healthy growth during 2024-2032 to reach around 17.82 million tons by 2032.
The market is being driven due to rapid urbanisation, growing demand for meat and dairy-based products, and increased incorporation of sustainable practices in feed production.
The key trends aiding the Nigeria animal feed market include the usage of customised feeds, the use of digital tools within the feed manufacturing sector, and mergers and acquisitions.
Based on type, market segmentations include fodder and forage and compound feed.
Various types of livestock are pork, aquatic animal, cattle, and poultry, among others.
The major players in the market are Olam Group Limited, Flour Mills of Nigeria Plc, Nutreco N.V., Livestock Feeds Plc, Abertop Animal Health Feeds Nig. Ltd, and Turraco Industrial Limited, among others.
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