Market Insights Consumer Food Sauces & Spices

Tomato Ketchup - Nigeria

Nigeria

Revenue in the Tomato Ketchup market amounts to €0.76bn in 2024. The market is expected to grow annually by 12.67% (CAGR 2024-2029).
In global comparison, most revenue is generated in the United States (€5,572m in 2024).
In relation to total population figures, per person revenues of €3.27 are generated in 2024.
In the Tomato Ketchup market, volume is expected to amount to 286.60m kg by 2029. The Tomato Ketchup market is expected to show a volume growth of 4.9% in 2025.
The average volume per person in the Tomato Ketchup market is expected to amount to 1.0kg in 2024.

Key regions: United States, United Kingdom, Japan, South Korea, Canada

Mercado

Región

Comparación de regiones

Moneda

Analyst Opinion

The Tomato Ketchup market in Nigeria is experiencing mild growth, influenced by factors such as increased consumer health awareness and the convenience of online services. This growth is also driven by the rising demand for digital technologies in the Sauces & Spices Market within The Food market, indicating a positive trend for the industry.

Customer preferences: With the growing health consciousness among consumers, there has been a rise in demand for healthier food options. As a result, the Tomato Ketchup Market of the Sauces & Spices Market within The Food market has witnessed a shift towards organic and low-sugar alternatives. This trend is fueled by the increasing awareness of the harmful effects of high-sugar diets and the preference for clean and natural ingredients. Additionally, the rising popularity of plant-based diets has also influenced the market, with many consumers opting for vegetarian or vegan ketchup options.

Trends in the market: In Nigeria, the Tomato Ketchup market is experiencing a shift towards healthier options, with an increase in demand for organic and low-sugar ketchup varieties. This trend is also reflected in the global market, as consumers become more health-conscious and seek out healthier alternatives to traditional condiments. Additionally, there is a growing trend of using social media and influencers to promote ketchup products, which has led to an increase in brand awareness and sales. This trend is expected to continue, with potential implications for industry stakeholders such as manufacturers, retailers, and marketers. By tapping into the demand for healthier options and leveraging social media marketing, companies can potentially gain a competitive edge in the Tomato Ketchup market in Nigeria and globally.

Local special circumstances: In Nigeria, the Tomato Ketchup market is heavily influenced by local preferences for spicy and tangy flavors. This is due to the country's rich and diverse cuisine, which heavily relies on spices and condiments. Additionally, the high import taxes on foreign condiments have led to the rise of local ketchup brands, catering to the unique taste preferences of the Nigerian market. Furthermore, the growing focus on health and wellness has led to the popularity of organic and natural ketchup options, in line with the country's increasing health-conscious population.

Underlying macroeconomic factors: The Tomato Ketchup Market of the Sauces & Spices Market within The Food market in Nigeria is heavily influenced by macroeconomic factors such as consumer purchasing power, import/export policies, and government regulations. The country's slow economic growth and high inflation rates have limited the purchasing power of consumers, leading to a decrease in demand for premium brands of ketchup. Furthermore, import restrictions and high tariffs on tomato-based products have hindered the growth of the market, making it difficult for foreign companies to enter and compete. The government's efforts to diversify the economy away from oil and improve agricultural production have also impacted the tomato supply, affecting the availability and cost of raw materials for local manufacturers.

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.