PROSPECTS AND OPPORTUNITIES
Challenges and strategies for the forecast period
The most significant challenge facing the drinking milk products category over the forecast period is the potential for continued economic stagnation and persistent high unit prices due to ongoing currency depreciation. To mitigate these challenges, companies are expected to diversify their product portfolios to cater to different income groups.
Opportunities and consumer trends over the forecast period
Despite the challenges, there remain significant opportunities for growth in Nigeria's drinking milk products market, particularly as the economy begins to recover. Milk consumption per capita in Nigeria is currently low, indicating substantial room for growth, especially amongst the country's expanding population.
Performance outlook for subcategories
Over the forecast period, powdered milk is expected to remain the dominant force driving sales within the drinking milk products category. After experiencing strong declines since 2022, the category is poised for recovery as economic conditions stabilise.
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Overview:
Understand the latest market trends and future growth opportunities for the Drinking Milk Products 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 Drinking Milk Products 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 Drinking Milk Products 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 Drinking Milk Products in Nigeria?
- Which are the leading brands in Drinking Milk Products in Nigeria?
- How are products distributed in Drinking Milk Products 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 Drinking Milk Products?
- 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?
Drinking Milk Products in Nigeria - Category analysis
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
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:
Drinking Milk Products
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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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- Soy Drinks
- Other Milk Alternatives
Drinking Milk Products
This is the aggregation of flavoured milk drinks, milk and powder milk. Note: Plant-based drinking milk products should be excluded from this category and tracked under plant-based milk. Except for plant-based powder milk that should be tracked within the core dairy category of powder milk.
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 Drinking Milk Products research and analysis database.
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