Baby Food - Nigeria

Nigeria

Revenue in the Baby Food market amounts to €458.10m in 2024. The market is expected to grow annually by 7.43% (CAGR 2024-2029).
In global comparison, most revenue is generated in China (€18,540m in 2024).
In relation to total population figures, per person revenues of €2.00 are generated in 2024.
In the Baby Food market, volume is expected to amount to 52.46m kg by 2029. The Baby Food market is expected to show a volume growth of 6.0% in 2025.
The average volume per person in the Baby Food market is expected to amount to 0.2kg in 2024.

Key regions: Canada, United Kingdom, Japan, United States, Spain

Mercado

Región

Comparación de regiones

Moneda

Analyst Opinion

The Baby Food Market in Nigeria is experiencing marginal growth due to factors such as lower disposable income, lack of awareness about the benefits of baby food, and traditional cultural practices of homemade baby food. The slow growth rate can also be attributed to the increasing trend of breastfeeding and concerns about the safety of packaged food. However, with the growing urban population and increasing number of working mothers, there is a potential for growth in the Baby Food Market in Nigeria, especially in the sub-markets of Baby Milk & Infant Formula and Prepared Baby Food.

Customer preferences: The growing urbanization in Nigeria has resulted in a rise in dual-income households, leading to an increase in demand for convenient and ready-to-eat baby food options. Furthermore, with the growing awareness of the importance of nutrition in early childhood development, parents are increasingly looking for organic and natural baby food products. This trend is also driven by a cultural preference for homemade and traditional food options. As a result, there is a growing market for locally-sourced and ethically-produced baby food products in Nigeria.

Trends in the market: In Nigeria, the Baby Food Market within The Food market is experiencing a surge in demand for organic and natural ingredients. This trend is driven by the increasing health consciousness among Nigerian consumers and the rising awareness of the harmful effects of processed foods. As a result, there is a growing number of companies offering organic baby food products in the market. This trend is expected to continue as more consumers prioritize healthier options for their babies. It also presents opportunities for industry stakeholders to tap into this growing segment and expand their product offerings to cater to the changing preferences of Nigerian consumers.

Local special circumstances: In Nigeria, the Baby Food Market is heavily influenced by cultural and regulatory factors. The country has a diverse population with varying dietary preferences and restrictions, leading to a demand for a wide variety of baby food options. Additionally, the government has implemented strict regulations on the safety and nutritional content of baby food products, impacting product development and marketing strategies. Furthermore, the country's geographical landscape poses logistical challenges for distribution, making it crucial for companies to have a strong understanding of the local market dynamics to be successful.

Underlying macroeconomic factors: The performance of the Baby Food Market within The Food market in Nigeria is heavily influenced by macroeconomic factors such as the country's economic growth, fiscal policies, and global economic trends. As the largest economy in Africa, Nigeria's economic health plays a significant role in the growth of the baby food market. Favorable fiscal policies, such as tax incentives and subsidies, can attract foreign investment and promote market growth. Additionally, global economic trends, such as changing consumer preferences and increasing demand for organic and natural baby food, also impact the market in Nigeria.

Methodology

Data coverage:

The data encompasses B2C enterprises. Figures are based on the total consumer spending on food, which comprises all private household spending on food that is meant for at-home consumption (out-of-home consumption is not accounted for).

Modeling approach:

Market sizes are determined through a top-down approach, building on specific predefined factors for each market segment. As a basis for evaluating markets, we use resources from the Statista platform as well as in-house market research, national statistical offices, international institutions, trade associations, companies, the trade press, and the experience of our analysts. In addition, we use relevant key market indicators and data from country-specific associations, such as GDP, consumer spending, and consumer price index. This data helps us estimate the market size for each country individually.

Forecasts:

In our forecasts, we apply diverse forecasting techniques. The selection of forecasting techniques is based on the behavior of the relevant market. For example, the exponential trend smoothing is well suited for forecasting the Food market with a projected steady growth. The main drivers are GDP per capita and consumer spending per capita.

Additional notes:

The data is modeled using current exchange rates. The impact of the COVID-19 pandemic and the Russia-Ukraine war are considered at a country-specific level. The market is updated twice a year.