PROSPECTS AND OPPORTUNITIES
More local company presence to boost variety
The depreciation of the naira and rising import costs have created opportunities for local producers to establish a stronger foothold in the processed meat and seafood market. Categories like shelf-stable seafood, which lack local manufacturing presence, are particularly ripe for development by domestic firms.
Economic recovery to drive demand
An expected stabilisation of the naira and broader economic recovery will significantly impact this category, allowing consumers to increase spending on convenient, ready-to-cook products. Stabilised prices are likely to improve margins for manufacturers, enabling them to invest in promotional activities and new product launches.
Frozen processed poultry to continue driving overall growth as it sees demand from busy, urban Consumers
Frozen processed poultry is poised to lead growth over the forecast period, driven by its affordability and convenience. As urbanisation progresses, lifestyles are becoming increasingly fast-paced, with frozen poultry emerging as a staple for time-pressed households.
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Overview:
Understand the latest market trends and future growth opportunities for the Processed Meat, Seafood and Alternatives to Meat 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 Processed Meat, Seafood and Alternatives to Meat 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 Processed Meat, Seafood and Alternatives to Meat 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 Processed Meat, Seafood and Alternatives to Meat in Nigeria?
- Which are the leading brands in Processed Meat, Seafood and Alternatives to Meat in Nigeria?
- How are products distributed in Processed Meat, Seafood and Alternatives to Meat 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 Processed Meat, Seafood and Alternatives to Meat?
- 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?
Processed Meat, Seafood and Alternatives To Meat in Nigeria - Category analysis
KEY DATA FINDINGS
Inflation pushes lower volume demand
Frozen processed poultry performs best due to affordability and convenience
Growing availability of small pack sizes to boost affordability
More local company presence to boost variety
Economic recovery to drive demand
Frozen processed poultry to continue driving overall growth as it sees demand from busy, urban Consumers
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:
Processed Meat, Seafood and Alternatives to Meat
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- Shelf Stable Processed Red Meat
- Shelf Stable Processed Poultry
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- Chilled Processed Red Meat
- Chilled Processed Poultry
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- Frozen Processed Red Meat
- Frozen Processed Poultry
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- Shelf Stable Seafood
- Chilled Processed Seafood
- Frozen Processed Seafood
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- Chilled Meat and Seafood Substitutes
- Frozen Meat and Seafood Substitutes
- Shelf Stable Meat and Seafood Substitutes
- Tofu and Derivatives
Processed Meat, Seafood and Alternatives to Meat
This is the aggregation of processed meat, processed seafood and meat and seafood substitutes.
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 Processed Meat, Seafood and Alternatives to Meat research and analysis database.
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