Staple foods in 2024: The big picture
Staple foods have experienced a challenging year in 2024, marked by weak volume performance despite their essential nature within the Nigerian diet. Inflationary pressures and rising production costs have significantly impacted the industry, driving unit prices upwards and weakening consumer purchasing power.
Key trends in 2023
In 2024, the health and wellness trend has taken a backseat as affordability has emerged as the primary concern for Nigerian consumers. Staple food categories traditionally associated with health benefits, such as hot cereals, have faced declining demand as consumers have opted for less expensive alternatives.
Competitive Landscape
Local companies have strengthened their position within staple foods, often at the expense of imported brands. BUA Foods, for example, has increased its market share through expanded production capacity and a strong focus on regions like northern Nigeria, where pasta enjoys significant popularity.
Channel developments
Modern grocery retailing has shown consistent growth, particularly in urban areas where consumers favour the convenience of supermarkets offering a wide variety of products under one roof. While e-commerce has gained some traction, it remains a niche channel for staple foods, with consumers primarily relying on local grocers and open markets for their purchases.
What next for Cooking Ingredients and Meals?
Looking ahead, staple foods in Nigeria is expected to recover as economic conditions improve and exchange rates stabilise. This will likely encourage consumers to shift back from lower-priced products to higher-quality options, driving value growth.
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Overview:
Understand the latest market trends and future growth opportunities for the Staple Foods 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 Staple Foods 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 Staple Foods 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 Staple Foods in Nigeria?
- Which are the leading brands in Staple Foods in Nigeria?
- How are products distributed in Staple Foods 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 Staple Foods?
- 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?
Staple Foods in Nigeria
Staple foods in 2024: The big picture
Key trends in 2023
Competitive Landscape
Channel developments
What next for Cooking Ingredients and Meals?
DISCLAIMER
Baked Goods in Nigeria
KEY DATA FINDINGS
Rising prices drive decline in volume sales
Bread sustains demand amid challenges
Economic pressures stifle product innovation
Innovative ingredients as a pathway to growth
Economic recovery to bolster demand
Growth potential for cakes and frozen baked goods
Breakfast Cereals in Nigeria
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
Processed Fruit and Vegetables in Nigeria
KEY DATA FINDINGS
Inflationary economic conditions lead to volume decline
Shelf stable vegetables perform best due to their relative essentiality
Smaller brands are gaining share as they improve affordability
Pack size variety expected to boost demand across income groups
Economic recovery to boost growth as incomes improve
Frozen processed vegetables and frozen processed potatoes to grow well as they benefit from novelty and convenience
Processed Meat, Seafood and Alternatives To Meat in Nigeria
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
Rice, Pasta and Noodles in Nigeria
KEY DATA FINDINGS
Rice, pasta, and noodles lead as top-performing staple foods category
Pasta emerges as the best performer amidst economic challenges
Intense competition and consumer-centric innovations
Novel approaches and value-added products to spur growth
Economic recovery and urban growth to drive demand
Pasta’s novelty and affordability to sustain growth
The following categories and subcategories are included:
Staple Foods
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- Packaged Flat Bread
- Unpackaged Flat Bread
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- Packaged Leavened Bread
- Unpackaged Leavened Bread
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- Packaged Cakes
- Unpackaged Cakes
- Dessert Mixes
- Frozen Baked Goods
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- Packaged Pastries
- Unpackaged Pastries
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- Sweet Pies and Tarts
- Frozen Cakes, Sweet Pies and Tarts
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- Hot Cereals
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- Children's Breakfast Cereals
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- Flakes
- Muesli and Granola
- Other RTE Cereals
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- Shelf Stable Beans
- Shelf Stable Fruit
- Shelf Stable Tomatoes
- Shelf Stable Vegetables
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- Frozen Fruit
- Frozen Processed Potatoes
- Frozen Processed Vegetables
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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
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- Chilled Noodles
- Frozen Noodles
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- Instant Noodle Cups
- Instant Noodle Pouches
- Plain Noodles
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- Chilled Pasta
- Dried Pasta
- Rice
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Staple Foods
NOTE: Couscous, polenta and quinoa are excluded from staple foods.
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This report originates from Passport, our Staple Foods research and analysis database.
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