Dairy products and alternatives in 2024: The big picture
Inflationary pressures have negatively affected dairy products and alternatives sales in Nigeria in 2024, following an even more severe impact in the preceding year. With consumer spending power significantly reduced and consumers prioritising the most affordable options, industry participants continue to focus on smaller pack sizes for their brands.
Key trends in 2024
Given the predominantly low-income profile of the Nigerian population, health and wellness are not major determinants of dairy products and alternatives sales in 2024, particularly amidst the challenging economic conditions where affordability is the primary consumer concern. Generally, consumers prioritise taste, with a preference for sweeter products, especially in the northern regions of the country.
Competitive Landscape
Promasidor Nigeria Ltd is set to achieve the highest growth rate in 2024, primarily driven by its diversification into coffee whiteners, a rapidly growing category offering consumers a more affordable alternative to milk products. Its Kremela brand is set to secure the leading market share in this category, whilst its Cowbell and Miksi brands also entered the segment in the review period.
Channel developments
Small local grocers, traditionally dominating dairy products and alternatives distribution, perform well in 2024 despite competition from modern grocery retail channels. The prevalence of smaller pack sizes benefits these outlets, as they often stock such products.
What next for dairy products and alternatives?
Growth in dairy products and alternatives is expected to be driven by population growth, particularly amongst children and urban residents. Whilst economic conditions are projected to improve, challenges are anticipated to persist in the early part of the forecast period.
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Overview:
Understand the latest market trends and future growth opportunities for the Dairy Products and Alternatives 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 Dairy Products and Alternatives 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 Dairy Products and Alternatives 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 Dairy Products and Alternatives in Nigeria?
- Which are the leading brands in Dairy Products and Alternatives in Nigeria?
- How are products distributed in Dairy Products and Alternatives 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 Dairy Products and Alternatives?
- 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?
Dairy Products and Alternatives in Nigeria
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
Baby Food in Nigeria
KEY DATA FINDINGS
Inflation impact and consumer substitution
Resilience of prepared baby food and local brands
Shift towards smaller pack sizes and the rise of local brands
The challenge of rising prices and the shift to local sourcing
Population growth and urbanisation to drive demand
Prepared baby food to lead future growth
Butter and Spreads in Nigeria
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
Cheese in Nigeria
KEY DATA FINDINGS
Impact of price sensitivity on consumer demand
Spreadable cheese outperforming processed cheese
Expansion of local brands and innovations
Navigating challenges through localisation and brand loyalty
Opportunities in growing urbanisation and retail expansion
Spreadable processed cheese leading growth prospects
Drinking Milk Products in Nigeria
KEY DATA FINDINGS
Impact of price sensitivity on consumer demand
Performance of drinking milk products
Consumer trends and product innovations
Challenges and strategies for the forecast period
Opportunities and consumer trends over the forecast period
Performance outlook for subcategories
Yoghurt and Sour Milk Products in Nigeria
KEY DATA FINDINGS
Price sensitivity and its impact on yoghurt and sour milk products
Category performance
Consumer trends and product innovations
Challenges and strategic responses
Opportunities and consumer trends over the forecast period
Subcategory performance outlook
Other Dairy in Nigeria
KEY DATA FINDINGS
Strong growth in other dairy driven by coffee whiteners
Coffee whiteners lead the pack
Packaging innovations in response to economic conditions
Challenges and strategic responses
Growth potential and consumer trends
Expected performance of subcategories
Plant-Based Dairy in Nigeria
KEY DATA FINDINGS
Decline in volume sales due to economic challenges
Almond milk outperforms, soy drinks struggle
Limited new product development amidst economic pressures
High prices continue to challenge sales growth
Economic recovery and growth potential
Almond milk to lead growth, soy drinks to drive overall growth
The following categories and subcategories are included:
Dairy Products and Alternatives
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- Dried Baby Food
- Prepared Baby Food
- Other Baby Food
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- Liquid Standard Milk Formula
- Powder Standard Milk Formula
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- Liquid Follow-on Milk Formula
- Powder Follow-on Milk Formula
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- Liquid Growing-Up Milk Formula
- Powder Growing-Up Milk Formula
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- Liquid Special Baby Milk Formula
- Powder Special Baby Milk Formula
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- Butter
- Cooking Fats
- Margarine and Spreads
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- Spreadable Cheese
- Processed Cheese excl Spreadable
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- Packaged Hard Cheese
- Unpackaged Hard Cheese
- Soft Cheese
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- Dairy Only Flavoured Milk Drinks
- Flavoured Milk Drinks with Fruit Juice
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- Fat-free Fresh Milk
- Semi Skimmed Fresh Milk
- Full Fat Fresh Milk
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- Fat-free Shelf Stable Milk
- Semi Skimmed Shelf Stable Milk
- Full Fat Shelf Stable Milk
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- Goat Milk
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- Powder Milk
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- Sour Milk Products
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- Drinking Yoghurt
- Flavoured Yoghurt
- Plain Yoghurt
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- Chilled Dairy Desserts
- Shelf Stable Dairy Desserts
- Chilled Snacks
- Coffee Whiteners
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- Flavoured Condensed Milk
- Plain Condensed Milk
- Evaporated Milk
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- Cream
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- Flavoured Fromage Frais and Quark
- Plain Fromage Frais and Quark
- Savoury Fromage Frais and Quark
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- Soy Drinks
- Other Plant-based Milk
- Plant-based Yoghurt
- Plant-based Cheese
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This report originates from Passport, our Dairy Products and Alternatives research and analysis database.
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