Nigeria Food and Grocery Retail Market Summary, Competitive Analysis and Forecast to 2027
Summary
Food & Grocery Retail in Nigeria industry profile provides top-line qualitative and quantitative summary information including: market share, market size (value 2017-22, and forecast to 2027). The profile also contains descriptions of the leading players including key financial metrics and analysis of competitive pressures within the market.
Key Highlights
- The food & grocery retail market is segmented into household products, tobacco, food, and drinks.
- The Nigerian food & grocery retail market had total revenues of $52.3 billion in 2022, representing a compound annual growth rate (CAGR) of 8.1% between 2017 and 2022.
- The food segment accounted for the market's largest proportion in 2022, with total revenues of $40.6 billion, equivalent to 77.7% of the market's overall value.
- The growth in the Nigerian food & grocery retail market is influenced by several macroeconomic factors, such as rising GDP and growing consumer confidence. For instance, the real GDP annual growth rate of Nigeria in 2022 stood at 3.1%, according to GlobalData.
- Save time carrying out entry-level research by identifying the size, growth, major segments, and leading players in the food & grocery retail market in Nigeria
- Use the Five Forces analysis to determine the competitive intensity and therefore attractiveness of the food & grocery retail market in Nigeria
- Leading company profiles reveal details of key food & grocery retail market players’ global operations and financial performance
- Add weight to presentations and pitches by understanding the future growth prospects of the Nigeria food & grocery retail market with five year forecasts
- What was the size of the Nigeria food & grocery retail market by value in 2022?
- What will be the size of the Nigeria food & grocery retail market in 2027?
- What factors are affecting the strength of competition in the Nigeria food & grocery retail market?
- How has the market performed over the last five years?
- Who are the top competitors in Nigeria's food & grocery retail market?
- 1 Executive Summary
- 1.1. Market value
- 1.2. Market value forecast
- 1.3. Category segmentation
- 1.4. Geography segmentation
- 1.5. Market rivalry
- 1.6. Competitive landscape
- 2 Market Overview
- 2.1. Market definition
- 2.2. Market analysis
- 3 Market Data
- 3.1. Market value
- 4 Market Segmentation
- 4.1. Category segmentation
- 4.2. Geography segmentation
- 5 Market Outlook
- 5.1. Market value forecast
- 6 Five Forces Analysis
- 6.1. Summary
- 6.2. Buyer power
- 6.3. Supplier power
- 6.4. New entrants
- 6.5. Threat of substitutes
- 6.6. Degree of rivalry
- 7 Competitive Landscape
- 7.1. Who are the leading players in the market?
- 7.2. What strategies do leading players follow?
- 7.3. Where disruptions in this market are most likely to occur?
- 8 Company Profiles
- 8.1. Shoprite Holdings Ltd
- 8.2. Spar Retail NV
- 9 Macroeconomic Indicators
- 9.1. Country data
- 10 Appendix
- 10.1. Methodology
- 10.2. Industry associations
- 10.3. Related MarketLine research
- 10.4. About MarketLine
- List of Tables
- Table 1: Nigeria food & grocery retail market value: $ million, 2017-22
- Table 2: Nigeria food & grocery retail market category segmentation: % share, by value, 2017-2022
- Table 3: Nigeria food & grocery retail market category segmentation: $ million, 2017-2022
- Table 4: Nigeria food & grocery retail market geography segmentation: $ million, 2022
- Table 5: Nigeria food & grocery retail market value forecast: $ million, 2022-27
- Table 6: Shoprite Holdings Ltd: key facts
- Table 7: Shoprite Holdings Ltd: Annual Financial Ratios
- Table 8: Shoprite Holdings Ltd: Key Employees
- Table 9: Spar Retail NV: key facts
- Table 10: Nigeria size of population (million), 2018-22
- Table 11: Nigeria gdp (constant 2005 prices, $ billion), 2018-22
- Table 12: Nigeria gdp (current prices, $ billion), 2018-22
- Table 13: Nigeria inflation, 2018-22
- Table 14: Nigeria consumer price index (absolute), 2018-22
- Table 15: Nigeria exchange rate, 2018-22
- List of Figures
- Figure 1: Nigeria food & grocery retail market value: $ million, 2017-22
- Figure 2: Nigeria food & grocery retail market category segmentation: $ million, 2017-2022
- Figure 3: Nigeria food & grocery retail market geography segmentation: % share, by value, 2022
- Figure 4: Nigeria food & grocery retail market value forecast: $ million, 2022-27
- Figure 5: Forces driving competition in the food & grocery retail market in Nigeria, 2022
- Figure 6: Drivers of buyer power in the food & grocery retail market in Nigeria, 2022
- Figure 7: Drivers of supplier power in the food & grocery retail market in Nigeria, 2022
- Figure 8: Factors influencing the likelihood of new entrants in the food & grocery retail market in Nigeria, 2022
- Figure 9: Factors influencing the threat of substitutes in the food & grocery retail market in Nigeria, 2022
- Figure 10: Drivers of degree of rivalry in the food & grocery retail market in Nigeria, 2022
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