PROSPECTS AND OPPORTUNITIES
Navigating economic uncertainties and increasing affordability
The primary challenge facing butter and spreads over the forecast period will be the potential continuation of economic instability and persistently high unit prices due to the depreciating local currency. In response, companies are expected to focus on enhancing the affordability of their brands by offering smaller pack sizes and exploring more cost-effective packaging options, such as sachet packs.
Urbanisation and the growing demand for bread spreads
With the continued growth of the urban population and the rising demand for bread due to its convenience and affordability, the butter and spreads category has promising growth potential over the forecast period. Companies are expected to intensify their marketing efforts by positioning their products as essential "bread spreads" whilst also exploring opportunities within the cooking margarine segment.
Margarine and spreads to lead growth
Margarine and spreads are expected to continue driving the overall performance of the butter and spreads category over the forecast period. Whilst butter remains a niche product consumed primarily by expatriates and high-income consumers, margarine and spreads are more accessible as affordable complements to bread.
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Overview:
Understand the latest market trends and future growth opportunities for the Butter and Spreads 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 Butter and Spreads 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 Butter and Spreads 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 Butter and Spreads in Nigeria?
- Which are the leading brands in Butter and Spreads in Nigeria?
- How are products distributed in Butter and Spreads 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 Butter and Spreads?
- 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?
Butter and Spreads in Nigeria - Category analysis
KEY DATA FINDINGS
Impact of inflation on consumer demand
Resilience of margarine and challenges for butter
Marketing strategies and the rise of local production
Navigating economic uncertainties and increasing affordability
Urbanisation and the growing demand for bread spreads
Margarine and spreads to lead growth
Dairy Products and Alternatives in Nigeria - Industry Overview
Dairy products and alternatives in 2024: The big picture
Key trends in 2024
Competitive Landscape
Channel developments
What next for dairy products and alternatives?
DISCLAIMER
The following categories and subcategories are included:
Butter and Spreads
- Butter
- Cooking Fats
- Margarine and Spreads
Butter and Spreads
This is the aggregation of butter, cooking fats and margarine and spreads.
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 Butter and Spreads research and analysis database.
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