Category: Food & Beverage
Nigeria Food & Beverage
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Analysis by Region - Emerging Markets - Nigeria
... we are satisfied that our real GDP growth forecast of 2.8% for the year remains valid. Nigeria's purchasing managers' index posted monthly contractionary readings in Q3 2024 – setting the scene for a slowdown in ... Read More
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Weight Management and Wellbeing in Nigeria
... pressures that have weakened consumer spending power. Rising unit prices, primarily driven by the depreciation of the local currency (and exacerbated by the fact that most weight management products are imported), have negatively affected demand. ... Read More
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Nigeria Cocoa Powder Market Overview, 2029
... benefits. As health-conscious consumers seek out cocoa for its antioxidants and potential cardiovascular advantages, demand surges. Cocoa powder's versatility across culinary, beverage, cosmetics, pharmaceutical, and industrial sectors fuels its market expansion. The shifting inclination of ... Read More
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Nigeria Butter and Spreads
... brands in this category have risen sharply, consumers, faced with diminished buying power, have significantly reduced their consumption. Despite this, margarine has maintained a relatively stable position, as many consumers consider it an essential product, ... Read More
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Nigeria Drinking Milk Products
... by the rise in import taxes, cost of raw materials, and the depreciation of the local currency, have significantly impacted consumer behaviour. Many consumers have responded to these price hikes by opting for cheaper substitutes, ... Read More
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Nigeria Dairy Products and Alternatives
... reduced and consumers prioritising the most affordable options, industry participants continue to focus on smaller pack sizes for their brands. However, as this strategy had already been extensively implemented over the review period, there is ... Read More
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Nigeria Baby Food
... within this category has reduced affordability, leading consumers to reduce consumption and seek alternatives where possible. For instance, consumers of dried baby food have turned to traditional cereals such as pap (cornmeal), whilst those who ... Read More
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Nigeria Other Dairy
... the increasing preference for coffee whiteners, marketed as dairy/non-dairy creamers. The economic challenges in Nigeria, particularly the depreciation of the local currency, resulted in high unit prices for various milk products, leading consumers to shift ... Read More
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Nigeria Plant-Based Dairy
... weakened consumer spending power and led to substantial unit price increases across brands in the category. As a niche market, plant-based dairy products are primarily consumed for their novelty and perceived nutritional benefits. However, the ... Read More
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Nigeria Cheese
... a substantial reduction in demand for cheese products. This decline is further exacerbated by the sharp increase in unit prices, which rose by over 35% in 2023 and more than 30% in 2024. Given the ... Read More
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Nigeria Yoghurt and Sour Milk Products
... low income, are highly price-sensitive and have reduced spending even on essential items, including dairy products. The high unit prices within this category have further deterred consumption. However, despite the challenging economic environment, yoghurt has ... Read More
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Nigeria Yogurt Drinks Market Report by Type (Regular, Fat-Free/Low-Fat, Flavored), Distribution Channel (Convenience Stores/Traditional Stores, Supermarkets and Hypermarkets, Online), Packaging Type (Plastic Bottles, Tetra Packs, Plastic Pouches), Pack Size (200 ml, 500 ml, 1 Litre, and Others), and Region 2024-2032
... and Others), and Region 2024-2032 The Nigeria yogurt drinks market size reached US$ 168.5 Billion in 2023. Looking forward, IMARC Group expects the market to reach US$ 407.4 Billion by 2032, exhibiting a growth rate ... Read More
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Global Trend Study - Nigeria: A Roadmap Between Consumers and Your Products
... shoppers and their attitudes and behaviors around food, health, and wellness lifestyle habits. It has been conducted internationally since the year 2000 in 40 international markets. This study is a rich baseline information resource for ... Read More
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Nigeria Savoury Snacks
... leading to price hikes in in imported finished products and raw materials. As such, Nigerians are reducing their consumption of savour snacks and the category continues to fall in a pattern following on from 2023, ... Read More
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Nigeria Ice Cream
... consumers as prices rise. The decline in 2024 follows the decline in 2023, when similar economic conditions impacted on demand. Ice cream is generally a higher-priced snack in Nigeria, so lower consumer spending power has ... Read More
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Nigeria Sugar Confectionery
... power and are thus prioritising core and essential products when grocery shopping. With the local currency depreciating, unit prices have risen substantially in response to higher import and raw material costs. These conditions are also ... Read More
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Nigeria Chocolate Confectionery
... prices. Current value sales are climbing high as unit prices rise steeply, driven by depreciation of the local currency as well as other local factors contributing to high inflation in 2024. The category’s weak performance ... Read More
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Nigeria Gum
... unit prices, impacting on consumer demand - with reduced incomes there is reduced demand for products considered non-essential. To make matters worse, gum suffers from growing competition other sugar confectionery products. Euromonitor International's Gum in ... Read More
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Nigeria Sweet Biscuits, Snack Bars and Fruit Snacks
... on consumer spending as is seen throughout all snacks categories. High inflation persists, forcing consumers to reduce consumption and seek affordable alternatives where possible – for example, in unpackaged snacks. Manufacturers are having to continue ... Read More
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Nigeria Snacks
... locally as more essential and have strong penetration, such as sweet biscuits, snack bars and fruit snacks, and sugar confectionery. Consumer spending power is week and Nigerians are thus limiting their consumption of snacks, especially ... Read More
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Nigeria Cider/Perry
... on drinks for social occasions, particularly niche and less familiar drinks. The high unit prices of brands also impacted volume sales whilst driving strong current value growth. With all brands being imported, the depreciation of ... Read More
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Nigeria Alcoholic Drinks
... of economy spirits. Unit prices increased due to higher excise tax and rising import costs for raw materials and finished products, which can be linked to the depreciation of the local currency. Although alcoholic drinks ... Read More
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Nigeria Spirits
... low spending power, consumers sought out the most affordable drinks, which could be found in spirits. Strong local production of gin, schnapps, liqueurs, and dark rum has kept unit price increases to moderate levels compared ... Read More
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Nigeria Wine
... the female drinking population. Wine is typically consumed on social occasions at parties and in clubs in the on-trade, where it is considered a status drink. As in most alcoholic drinks categories, wine was heavily ... Read More
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Nigeria Beer
... by higher fuel costs and the strong depreciation in the local currency, which pushed up the cost of imports. This rise in unit prices negatively impacted volume sales but underpinned current value growth. Average unit ... Read More
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