Nigeria: Baby Food Market to Grow at CAGR of 13.46 until 2025
The baby foods market in Nigeria was equal to 1.20 billion USD (calculated in retail prices) in 2015. Until 2025, the baby foods market in Nigeria is forecast to reach 4.46 billion USD (in retail prices), thus increasing at a CAGR of 13.46% per annum for the period 2020-2025. This is a decrease, compared to the growth of about 15.26% per year, registered in 2015-2019.
The average consumption per capita in value terms reached 6.82 USD per capita (in retail prices) in 2015. In the next five years, it grew at a CAGR of 12.31% per annum. In the medium term (by 2025), the indicator is forecast to slow down its growth and increase at a CAGR of 9.22% per annum.
The market research report presents a strategic analysis of the market and a forecast for its development in the medium term. The research study covers the period 2015-2025 and provides a comprehensive overview of the market:
- Main participants;
- Imports and exports;
- Growth and demand drivers.
The report also focuses on product breakdown, offering a larger perspective on the market dynamics within the country. Additionally, you will find demographic and economic data about the region.
The report includes information on the following companies:
- Reckitt Benckiser;
- Kewpie Corporation;
- Hero Group;
- Bubs Australia;
- DMK GmbH;
- Hain Celestial;
- Perrigo Company Plc.;
- Mead Johnson & Company, LLC;
- Bellamy Organics;
- Campbell Soups.
The market research report has been prepared using Williams & Marshall Strategy’s methodology. It includes a blend of qualitative and quantitative data that comes from official sources. All research is then validated by insights gathered from semi-structured interviews with market experts. They are representatives of the main market participants – producers, distributors, wholesalers, and retailers.
This research report allows you to quickly and cost-effectively get a strategic analysis of a target market. You will gain competitive intelligence about the market such as size, value, segmentation, forecasts, dynamics and structure – past, present and future.
In addition, you will be able to:
- Strategically assess the competitive position of the main market participants;
- Explore and identify new market opportunities in the country;
- Identify key market trends, opportunities, threats, and key drivers behind recent market changes;
- Strategically evaluate market growth potential.
The report can be customized, based on your particular needs and requirements. WMStrategy also offers custom research and consulting services, that provide you focused and comprehensive solutions that are tailor-made to fit your requirements.