PROSPECTS AND OPPORTUNITIES
Competitive activity to boost performance over the forecast period
Looking ahead, breakfast cereals in Nigeria is expected to see a boost in competitive activity, which will likely drive performance over the forecast period. With the local currency stabilising and the economy improving, there will be greater opportunities for local players to introduce new varieties of breakfast cereals that appeal to local tastes.
Economic recovery to drive growth as the urban population increases
As Nigeria’s economy recovers, breakfast cereals is poised for positive growth. Improved consumer incomes are expected to boost affordability, leading consumers to be more willing to spend on higher-priced, higher-quality products.
Muesli and granola to grow fastest as incomes improve but other RTE cereals and children’s breakfast cereals will drive overall growth
While muesli and granola are expected to post the best performance from a low base over the forecast period, driven by improving economic conditions and greater visibility in modern grocery retailers, other RTE cereals and children’s breakfast cereals will continue to drive overall growth. Muesli and granola, despite being niche categories, will benefit from growing consumer interest in health-conscious foods and are expected to see an increase in demand as the economy stabilises and income levels improve.
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Overview:
Understand the latest market trends and future growth opportunities for the Breakfast Cereals industry in Nigeria with research from Euromonitor International's team of in-country analysts – experts by industry and geographic specialisation.
Key trends are clearly and succinctly summarised alongside the most current research data available. Understand and assess competitive threats and plan corporate strategy with our qualitative analysis, insight and confident growth projections.
Data and analysis in this report provides further detailed coverage dedicated to a comprehensive range of core packaged food categories.
If you're in the Breakfast Cereals industry in Nigeria, our research will help you to make informed, intelligent decisions; to recognise and profit from opportunity, or to offer resilience amidst market uncertainty.
The Breakfast Cereals in Nigeria report includes:
- Analysis of key supply-side and demand trends
- Detailed segmentation of international and local products
- Historic volume and value sizes, company and brand market shares
- Five year forecasts of market trends and market growth
- Robust and transparent research methodology, conducted in-country
This report answers:
- What is the market size of Breakfast Cereals in Nigeria?
- Which are the leading brands in Breakfast Cereals in Nigeria?
- How are products distributed in Breakfast Cereals in Nigeria?
- How is the rise of e-commerce and/or the expansion of modern grocery retail impacting traditional retail?
- What are the key health and wellness concerns driving, or challenging, sales in Breakfast Cereals?
- How significant are vegan and vegetarian dietary requirements in determining sales growth in Nigeria?
- How has COVID-19 impacted consumer demand? To what extent have lockdown, home seclusion and stockpiling boosted sales? Will the longer term economic repercussions of the pandemic stimulate or suppress future growth?
- Where is future growth expected to be most dynamic?
- How significant will values-based claims, such as sustainability and ethical labelling, be in supporting future growth and brand equity?
Breakfast Cereals in Nigeria - Category analysis
KEY DATA FINDINGS
Breakfast cereals decline in volume as inflation hits consumer spending power
Children’s breakfast cereals perform well as children form the major consumer base for breakfast cereals
Companies increase the offering of small pack sizes to boost affordability
Competitive activity to boost performance over the forecast period
Economic recovery to drive growth as the urban population increases
Muesli and granola to grow fastest as incomes improve but other RTE cereals and children’s breakfast cereals will drive overall growth
Staple Foods in Nigeria - Industry Overview
Staple foods in 2024: The big picture
Key trends in 2023
Competitive Landscape
Channel developments
What next for Cooking Ingredients and Meals?
DISCLAIMER
The following categories and subcategories are included:
Breakfast Cereals
- Hot Cereals
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- Children's Breakfast Cereals
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- Flakes
- Muesli and Granola
- Other RTE Cereals
Breakfast Cereals
This is the aggregation of ready-to-eat (RTE) and hot cereals.
See all of our definitionsWhy buy this report?
- Gain competitive intelligence about market leaders
- Track key industry trends, opportunities and threats
- Inform your marketing, brand, strategy and market development, sales and supply functions
This report originates from Passport, our Breakfast Cereals research and analysis database.
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