Nigeria Ready-to-Eat Food Market (2022-2028) | Revenue, Growth, Industry, Size, Share, Outlook, Forecast, Analysis, Trends, Value, Segmentation & COVID-19 IMPACT

Market Forecast By Product Types (Meat/Poultry Products, Cereal Based Products, Vegetables Based Products & Others), By Packaging Types (Sachet, Canned, Boxed, Frozen or Chilled & Others), By Distribution Channels (Hypermarkets/Supermarkets, Conveniences/Departmental Stores, Specialty Stores, Online Stores & Others) and Competitive Landscape

Product Code: ETC002685 Publication Date: Nov 2022 Product Type: Report
Publisher: 6Wresearch No. of Pages: 70 No. of Figures: 35 No. of Tables: 5

Nigeria Ready-To-Eat Food Market Synopsis

The Nigeria Ready-To-Eat Food Market is growing at a significant growth rate. Major factors driving the growth of the ready-to-eat food market in Nigeria include increasing disposable income and population growth. The Ready-to-Eat Food market in Nigeria is segmented on the basis of product type into Snacks (include savory snacks, nuts, dried fruits), Entrees (meals), Beverages (including water and soft drinks). The following sections highlight the key trends and drivers influencing this market. Nigeria Ready-To-Eat Food market is a part of Africa ready-to-eat food market and global ready-to-eat food market.

According to 6Wresearch, the Nigeria ready-to-eat food market size is likely to witness growth during 2022-28. One driver of the growth of the Nigeria ready-to-eat food market is increasing urbanization and population growth in Nigeria, which is projected to reach 108 million people by 2025. Additionally, rising disposable incomes are also fuelling the demand for this type of food. Further, challenges faced by the Nigerian ready-to-eat food market include inadequate infrastructure, high costs of inputs, and low levels of innovation. Opportunities in this market include scaling up production capacities, developing new products and services, and expanding into new geographies.

Market Analysis By Distribution Channel

In terms of distribution channel, the market is categorized into hypermarkets/supermarkets, conveniences/departmental stores, specialty stores, online stores and others. Currently, the hypermarkets/supermarkets dominate the overall market. Additionally, this market is growing rapidly because of the increasing number of people who are living in urban areas and because of the increasing demand for healthy foods. Further, there are several factors that are contributing to the growth of the Nigerian ready-to-eat food market. First, there is a growing population in Nigeria. Second, more and more people are moving into cities, and they are looking for convenient ways to eat. Third, there is a growing demand for healthy foods in Nigeria. Fourth, there is a growing trend among Nigerians to eat out instead of cooking at home. These four factors combined mean that the Nigeria ready-to-eat food market will continue to grow rapidly over the next few years.

Market Analysis By Competitive Landscape

There are several key players in this market including multinational companies such as Nestle SA (Switzerland), Danone Group (France), Unilever PLC (United Kingdom), and General Mills, Inc. (U.S.). These companies together hold the highest market share and are investing in manufacturing plants in Nigeria to meet the rising demand for their products in this country. In addition, Nigerian entrepreneurs are also catering to this market with innovative products that cater to local preferences. These small businesses are expanding rapidly owing to the high demand for their products and low cost of production. Further, one way that companies can capitalize on this growth opportunity is by branding their products. By doing this, companies can create a sense of identity for themselves and their products. This identity can help attract customers to their businesses, and it can also help generate loyalty among customers. In addition, branding can help companies differentiate themselves from their competitors.

COVID-19 Influence on the Nigeria Ready-To-Eat Food Market

The occurrence of Covid-19 pandemic has resulted in a stoppage in past. However, the market has recuperated gradually. Currently, the market has tremondous growth opportunities. The growth is attributable to increasing urbanization and population, as well as rising income levels and increased spending on food. Additionally, some of the key factors that are fueling the growth of the market include increasing demand for affordable and convenient foods, growing health consciousness among consumers, and proliferation of retail food outlets in urban areas. The ready-to-eat foods segment is expected to account for the largest share of the market during the forecast period.

Key Attractiveness of the Report

  • COVID-19 Influence on the Market Dynamics.
  • 10 Years of Market Data.
  • Historical Numbers from 2018 to 2021.
  • Base Year: 2021
  • Market Forecast Data Until 2028
  • Key Performance Indicators Influencing the Market.
  • Key Developments and Projects.

Key Highlights of the Report:

  • Nigeria Ready-to-Eat Food Market Overview
  • Nigeria Ready-to-Eat Food Market Outlook
  • Nigeria Ready-to-Eat Food Market Forecast
  • Historical Data of Nigeria Ready-to-Eat Food Market Revenues for the Period 2018-2021
  • Nigeria Ready-to-Eat Food Market Size & Ready-to-Eat Food Market Forecast of Revenues, Until 2026
  • Historical Data of Nigeria Ready-to-Eat Food Market Revenues, By Product Types, for the Period 2018-2021
  • Market Size & Forecast of Nigeria Ready-to-Eat Food Market Revenues, By Product Types, Until 2028
  • Historical Data of Nigeria Ready-to-Eat Food Market Revenues, By Packaging Types, for the Period 2018-2021
  • Market Size & Forecast of Nigeria Ready-to-Eat Food Market Revenues, By Packaging Types, Until 2026
  • Historical Data of Nigeria Ready-to-Eat Food Market Revenues, By Distribution Channels, for the Period 2018-2021
  • Market Size & Forecast of Nigeria Ready-to-Eat Food Market Revenues, By Distribution Channels, Until 2026
  • Market Drivers and Restraints
  • Nigeria Ready-to-Eat Food Market Trends and Industry Life Cycle
  • Porter’s Five Force Analysis and Market Opportunity Assessment
  • Nigeria Ready-to-Eat Food Market Share, By Players
  • Nigeria Ready-to-Eat Food Market Overview on Competitive Benchmarking
  • Company Profiles
  • Key Strategic Recommendations

Markets Covered

The report delivers a widespread study of the subsequent market segments:

By Product Types

  • Meat/Poultry Products
  • Cereal Based Products
  • Vegetables Based Products
  • Others

By Packaging Types

  • Sachet
  • Canned
  • Boxed
  • Frozen or Chilled
  • Others

By Distribution Channels

  • Hypermarkets/Supermarkets
  • Conveniences/Departmental Stores
  • Specialty Stores
  • Online Stores
  • Others
Frequently Enquired Queries Regarding the Market Study: FAQs

1). Which product type accounts for the maximum market share in the Nigeria Ready-To-Eat Food Market?

The meat and poultry products accounts for the maximum market share in the Nigeria Ready-To-Eat Food market.

2). Does the report include the impression of COVID-19?

Yes, the report includes the stimulus of COVID-19.

3). Which distribution channel is predictable to register the highest growth rate?

The hypermarkets/supermarkets is projected to record the highest share in future.

4). What are the critical factors which are increasing the market demand?                                               

The growth of the market is attributed to increasing disposable income and population growth along with increasing number of people who are living in urban areas.

5). What are the major challenges in the Nigeria Ready-To-Eat Food Market?                                                                                              

The main challenge facing the market is lack of awareness amongst consumers as well as rising health concerns among consumers.

1. Executive Summary
2. Introduction
2.1. Report Description
2.2. Key Highlights
2.3. Market Scope & Segmentation
2.4. Research Methodology
2.5. Assumptions
3. Nigeria Ready-to-Eat Food Market Overview
3.1. Nigeria Ready-to-Eat Food Market Revenues, 2018-2028F
3.2. Nigeria Ready-to-Eat Food Market – Industry Life Cycle
3.3. Nigeria Ready-to-Eat Food Market – Porter’s Five Forces
3.4. Nigeria Ready-to-Eat Food Market Revenue  Share, By Product Types, 2021 & 2028F
3.5. Nigeria Ready-to-Eat Food Market Revenue  Share, By Packaging Types, 2021 & 2028F
3.6. Nigeria Ready-to-Eat Food Market Revenue  Share, By Distribution Channels, 2021 & 2028F
3.7. Nigeria Ready-to-Eat Food Market Revenue  Share, By Regions, 2021 & 2028F
4. Nigeria Ready-to-Eat Food Market Dynamics
4.1. Impact Analysis
4.2. Market Drivers
4.3. Market Restraints
5. Nigeria Ready-to-Eat Food Market Trends
6. Nigeria Ready-to-Eat Food Market Overview, By Product Types
6.1. Nigeria Meat/Poultry Ready-to-Eat Food Market Revenues, 2018-2028F
6.2. Nigeria Cereal Based Ready-to-Eat Food Market Revenues, 2018-2028F
6.3. Nigeria Vegetables Based Ready-to-Eat Food Market Revenues, 2018-2028F
6.4. Nigeria Other Ready-to-Eat Food Market Revenues, 2018-2028F
7. Nigeria Ready-to-Eat Food Market Overview, By Packaging Types
7.1. Nigeria Sachet Packaging Ready-to-Eat Food Market Revenues, 2018-2028F
7.2. Nigeria Boxed Packaging Ready-to-Eat Food Market Revenues, 2018-2028F
7.3. Nigeria Canned Packaging Ready-to-Eat Food Market Revenues, 2018-2028F
7.4. Nigeria Frozen or Chilled Packaging Ready-to-Eat Food Market Revenues, 2018-2028F
7.5. Nigeria Other Packaging Ready-to-Eat Food Market Revenues, 2018-2028F
8. Nigeria Ready-to-Eat Food Market Overview, By Distribution Channels
8.1. Nigeria Ready-to-Eat Food Market Revenues, By Convenience/Departmental Stores, 2018-2028F
8.2. Nigeria Ready-to-Eat Food Market Revenues, By Online Stores, 2018-2028F
8.3. Nigeria Ready-to-Eat Food Market Revenues, By Specialty Stores, 2018-2028F
8.4. Nigeria Ready-to-Eat Food Market Revenues, By Hypermarkets/Supermarkets, 2018-2028F
8.5. Nigeria Ready-to-Eat Food Market Revenues, By Other Distribution Channels, 2018-2028F
9. Nigeria Ready-to-Eat Food Market Overview, By Regions
10. Nigeria Ready-to-Eat Food Market Key Performance Indicators
11. Nigeria Ready-to-Eat Food Market Opportunity Assessment
11.1. Nigeria Ready-to-Eat Food Market Opportunity Assessment, By Product Types, 2026F
11.2. Nigeria Ready-to-Eat Food Market Opportunity Assessment, By Packaging Types, 2026F
11.3. Nigeria Ready-to-Eat Food Market Opportunity Assessment, By Distribution Channels, 2026F
12. Nigeria Ready-to-Eat Food Market Competitive Landscape
12.1. Nigeria Ready-to-Eat Food Market Revenue Share, By Company, 2021
12.2. Nigeria Ready-to-Eat Food Market Competitive Benchmarking, By Technical Parameters
13. Company Profiles
14. Recommendations
15. Disclaimer

South Africa Ready-to-Eat Food Market (2020-2026): Market Forecast By Product Types (Meat/Poultry Products, Cereal Based Products, Vegetables Based Products & Others), By Packaging Types (Sachet, Canned, Boxed, Frozen or Chilled & Others), By Distribution Channels (Hypermarkets/Supermarkets, Conveniences/Departmental Stores, Specialty Stores, Online Stores & Others) and Competitive Landscape

Kenya Ready-to-Eat Food Market (2020-2026): Market Forecast By Product Types (Meat/Poultry Products, Cereal Based Products, Vegetables Based Products & Others), By Packaging Types (Sachet, Canned, Boxed, Frozen or Chilled & Others), By Distribution Channels (Hypermarkets/Supermarkets, Conveniences/Departmental Stores, Specialty Stores, Online Stores & Others) and Competitive Landscape

UAE Ready-to-Eat Food Market (2020-2026): Market Forecast By Product Types (Meat/Poultry Products, Cereal Based Products, Vegetables Based Products & Others), By Packaging Types (Sachet, Canned, Boxed, Frozen or Chilled & Others), By Distribution Channels (Hypermarkets/Supermarkets, Conveniences/Departmental Stores, Specialty Stores, Online Stores & Others) and Competitive Landscape

Saudi Arabia Ready-to-Eat Food Market (2020-2026): Market Forecast By Product Types (Meat/Poultry Products, Cereal Based Products, Vegetables Based Products & Others), By Packaging Types (Sachet, Canned, Boxed, Frozen or Chilled & Others), By Distribution Channels (Hypermarkets/Supermarkets, Conveniences/Departmental Stores, Specialty Stores, Online Stores & Others) and Competitive Landscape

Qatar Ready-to-Eat Food Market (2020-2026): Market Forecast By Product Types (Meat/Poultry Products, Cereal Based Products, Vegetables Based Products & Others), By Packaging Types (Sachet, Canned, Boxed, Frozen or Chilled & Others), By Distribution Channels (Hypermarkets/Supermarkets, Conveniences/Departmental Stores, Specialty Stores, Online Stores & Others) and Competitive Landscape

India Ready-to-Eat Food Market (2020-2026): Market Forecast By Product Types (Meat/Poultry Products, Cereal Based Products, Vegetables Based Products & Others), By Packaging Types (Sachet, Canned, Boxed, Frozen or Chilled & Others), By Distribution Channels (Hypermarkets/Supermarkets, Conveniences/Departmental Stores, Specialty Stores, Online Stores & Others) and Competitive Landscape

Asia Pacific (APAC) Ready-to-Eat Food Market (2020-2026): Market Forecast By Product Types (Meat/Poultry Products, Cereal Based Products, Vegetables Based Products & Others), By Packaging Types (Sachet, Canned, Boxed, Frozen or Chilled & Others), By Distribution Channels (Hypermarkets/Supermarkets, Conveniences/Departmental Stores, Specialty Stores, Online Stores & Others), By Countries (India, China, Japan, South Korea, Malaysia, Thailand, Singapore, Indonesia, Vietnam & rest of Asia pacific) and Competitive Landscape

Latin America Ready-to-Eat Food Market (2020-2026): Market Forecast By Product Types (Meat/Poultry Products, Cereal Based Products, Vegetables Based Products & Others), By Packaging Types (Sachet, Canned, Boxed, Frozen or Chilled & Others), By Distribution Channels (Hypermarkets/Supermarkets, Conveniences/Departmental Stores, Specialty Stores, Online Stores & Others), By Countries (Brazil, Argentina, Mexico, Chile & Rest of Latin America) and Competitive Landscape

Middle East Ready-to-Eat Food Market (2020-2026): Market Forecast By Product Types (Meat/Poultry Products, Cereal Based Products, Vegetables Based Products & Others), By Packaging Types (Sachet, Canned, Boxed, Frozen or Chilled & Others), By Distribution Channels (Hypermarkets/Supermarkets, Conveniences/Departmental Stores, Specialty Stores, Online Stores & Others), By Key Countries (Saudi Arabia, Qatar, UAE, Kuwait, Oman, Turkey, Bahrain, Rest of Middle East) and Competitive Landscape

 

Market Forecast By Product Types (Meat/Poultry Products, Cereal Based Products, Vegetables Based Products & Others), By Packaging Types (Sachet, Canned, Boxed, Frozen or Chilled & Others), By Distribution Channels (Hypermarkets/Supermarkets, Conveniences/Departmental Stores, Specialty Stores, Online Stores & Others) and Competitive Landscape

Product Code: ETC002685 Publication Date: May 2020 Product Type: Report
Publisher: 6Wresearch No. of Pages: 70 No. of Figures: 35 No. of Tables: 5

Nigeria Ready-to-Eat Food Market is expected to grow substantially over the coming years owing to the rise in ready-to-eat (RTE) food production coupled with an increase in demand for convenience food products. However, a decrease in disposable income of the consumer in the first three quarters of 2020, mainly due to the outbreak of the COVID-19 virus would act as a hurdle in the growth of Nigeria's ready-to-eat food market in the near term.

According to 6Wresearch, Nigeria Ready-to-Eat Food Market is anticipated to register growth during 2020-2026. By product types, cereal and vegetables-based products such as whole wheat biscuits, oats, porridge, muesli, and grits are anticipated to witness substantial growth in the Nigeria ready-to-eat food market in the upcoming years due to change in food consumption behavior among consumers. The increasing trend for the consumption of organic and healthy foods in recent years has boosted the demand for the aforementioned products in Nigeria. However, volatility in the price of raw materials including vegetables and cereals, and the imposition of VAT on the packed food is expected to increase the price of ready-to-eat foods thereby acting as a restraint for Nigeria ready-to-eat food market in the years to come.

By distribution channels, conveniences/departmental stores retail stores are expected to register exponential growth during the forecast period (2020-2026F) as Nigeria’s retail market is still untapped. The government of Nigeria has come up with an initiative to reduce the cost of rent for retailers and encourage the development of more functional stores across the country. Further, Real Estate Investment Trust is encouraging foreign investors to invest in Nigeria’s retail sector development program, and also providing long-term finance for the retail sector development. Thus, the expansion of conveniences/departmental stores in the country would create ample demand for ready-to-eat food products in the coming years.

The Nigeria Ready-to-Eat Food market report thoroughly covers the market by product types, packaging types, distribution channels, and regions. Nigeria Ready-to-Eat Food market outlook report provides an unbiased and detailed analysis of the on-going Nigeria Ready-to-Eat Food 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.

Key Highlights of the Report:

  • Nigeria Ready-to-Eat Food Market Overview
  • Nigeria Ready-to-Eat Food Market Outlook
  • Nigeria Ready-to-Eat Food Market Forecast
  • Historical Data of Nigeria Ready-to-Eat Food Market Revenues for the Period 2016-2019
  • Nigeria Ready-to-Eat Food Market Size & Ready-to-Eat Food Market Forecast of Revenues, Until 2026
  • Historical Data of Nigeria Ready-to-Eat Food Market Revenues, By Product Types, for the Period 2016-2019
  • Market Size & Forecast of Nigeria Ready-to-Eat Food Market Revenues, By Product Types, Until 2026
  • Historical Data of Nigeria Ready-to-Eat Food Market Revenues, By Packaging Types, for the Period 2016-2019
  • Market Size & Forecast of Nigeria Ready-to-Eat Food Market Revenues, By Packaging Types, Until 2026
  • Historical Data of Nigeria Ready-to-Eat Food Market Revenues, By Distribution Channels, for the Period 2016-2019
  • Market Size & Forecast of Nigeria Ready-to-Eat Food Market Revenues, By Distribution Channels, Until 2026
  • Market Drivers and Restraints
  • Nigeria Ready-to-Eat Food Market Trends and Industry Life Cycle
  • Porter’s Five Force Analysis and Market Opportunity Assessment
  • Nigeria Ready-to-Eat Food Market Share, By Players
  • Nigeria Ready-to-Eat Food Market Overview on Competitive Benchmarking
  • Company Profiles
  • Key Strategic Recommendations

Markets Covered

The Nigeria Ready-to-Eat Food Market report provides a detailed analysis of the following market segments:

By Product Types

  • Meat/Poultry Products
  • Cereal Based Products
  • Vegetables Based Products
  • Others

By Packaging Types

  • Sachet
  • Canned
  • Boxed
  • Frozen or Chilled
  • Others

By Distribution Channels

  • Hypermarkets/Supermarkets
  • Conveniences/Departmental Stores
  • Specialty Stores
  • Online Stores
  • Others

Other Key Reports Available:

  • South Africa Ready-to-Eat Food Market Report
  • Kenya Ready-to-Eat Food Market Report

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