PROSPECTS AND OPPORTUNITIES
Challenges and mitigation strategies
Economic instability, particularly inflation and exchange rate volatility, is expected to remain the primary challenge for sweet spreads over the forecast period. These factors will likely keep unit prices elevated, dampening demand among cost-sensitive consumers.
Opportunities in economic recovery and consumer trends
The expected stabilisation of the Nigerian economy and exchange rate over the forecast period will create a more favourable environment for sweet spreads. Rising incomes and improved consumer purchasing power will drive demand, particularly as middle-class households continue to expand.
Projected performance of subcategories
Chocolate spreads are expected to maintain their leading position in the category over the forecast period. The appeal of chocolate-flavoured products and the growing availability of affordable options from local brands will drive sustained demand.
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Overview:
Understand the latest market trends and future growth opportunities for the Sweet 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 Sweet 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 Sweet 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 Sweet Spreads in Nigeria?
- Which are the leading brands in Sweet Spreads in Nigeria?
- How are products distributed in Sweet 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 Sweet 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?
Sweet Spreads in Nigeria - Category analysis
KEY DATA FINDINGS
Price sensitivity and its impact on sweet spreads
Chocolate spreads lead the way
Emerging trends and product innovations
Challenges and mitigation strategies
Opportunities in economic recovery and consumer trends
Projected performance of subcategories
Cooking Ingredients and Meals in Nigeria - Industry Overview
Cooking Ingredients and Meals in 2023: The big picture
Key trends in 2023
Competitive Landscape
Channel developments
What next for Cooking Ingredients and Meals?
DISCLAIMER
Sweet Spreads
Excludes: Any products sold unpackaged or in bulk; margarine, butter substitutes, vegetable-oil based, yeast-based, and meat/seafood-based 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 Sweet Spreads research and analysis database.
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