Executive Summary

Nov 2018
PROSPECTS
Value sales are expected to increase, and quality is set to improve

Between 2015 and 2017, the depreciation of the local currency due to the recession had a severe impact on the prices of raw material inputs for baked goods, such as wheat and sugar, forcing manufacturers to increase prices. By 2018, in light of declining demand, manufacturers had to find ways to produce products more cheaply in order to maintain sales.

Population growth and urbanisation are expected to drive the forecast performance

Population growth is spurring growth in baked goods in Nigeria, since bread is a staple in the country, and pastries are a major on-the-go snack choice amongst urban commuters. Furthermore, demand has also continued to increase due to the growing desire for convenience amongst consumers, who are leading increasingly busy lifestyles, as well as due to improvements in distribution via chained supermarkets and hypermarkets.

Packaged products are set to see the fastest growth

Sales of packaged products are expected to maintain a faster pace of growth than unpackaged/artisanal products in all major baked goods categories over the forecast period. The general migration to packaged baked goods will be sustained by the growing desire for convenience and variety amongst Nigerian consumers.

COMPETITIVE LANDSCAPE
Artisanal holds the leading share

Artisanal producers continued to lead baked goods in Nigeria in value terms in 2018, as unpackaged/artisanal baked goods are traditionally considered fresher, usually served hot from the oven, and also thought of as filling. In addition, unpackaged products tend to be more widely distributed in rural areas, where a large number of Nigerians live.

UAC Foods is the leading brand manufacturer

UAC Foods was the top brand manufacturer in baked goods in Nigeria in 2018. Thanks to its early mover advantage, extensive distribution network and the reputation of its Gala and Funtime brands for high quality, the company was the clear leader in packaged cakes and pastries in 2018.

Potential for private label

Some modern retail channels, such as Retail Supermarket Nigeria’s Shoprite, have introduced their own private label baked goods, which have proven popular due to the fact that they are often cheaper than competing foreign brands, and are also considered high quality. Shoprite’s Auntie’s brand of bread has proven to be the most popular, with long queues of consumers in Shoprite stores seeking the product, due to its perceived high quality but affordable price.

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Baked Goods in Nigeria

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Overview

Discover the latest market trends and uncover sources of future market growth for the Baked goods industry in Nigeria with research from Euromonitor's team of in-country analysts.

Find hidden opportunities in the most current research data available, understand competitive threats with our detailed market analysis, and plan your corporate strategy with our expert qualitative analysis and growth projections.

If you're in the Baked goods industry in Nigeria, our research will save you time and money while empowering you to make informed, profitable decisions.

The Baked goods in Nigeria market research report includes:

  • Analysis of key supply-side and demand trends
  • Detailed segmentation of international and local products
  • Historic volumes and values, company and brand market shares
  • Five year forecasts of market trends and market growth
  • Robust and transparent market research methodology, conducted in-country

Our market research reports answer questions such as:

  • What is the market size of Baked goods in Nigeria?
  • What are the major brands in Nigeria?
  • How will increasingly volatile wheat commodity prices impact retail prices and sales performance?
  • What are the market opportunities for high fibre products?
  • Are consumers in developing markets moving from unpackaged/artisanal to packaged/industrial offerings?

Why 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 industry report originates from Passport, our Packaged Food market research database.

Baked Goods in Nigeria - Category analysis

HEADLINES

PROSPECTS

Value sales are expected to increase, and quality is set to improve
Population growth and urbanisation are expected to drive the forecast performance
Packaged products are set to see the fastest growth

COMPETITIVE LANDSCAPE

Artisanal holds the leading share
UAC Foods is the leading brand manufacturer
Potential for private label

CATEGORY DATA

Table 1 Sales of Baked Goods by Category: Volume 2013-2018
Table 2 Sales of Baked Goods by Category: Value 2013-2018
Table 3 Sales of Baked Goods by Category: % Volume Growth 2013-2018
Table 4 Sales of Baked Goods by Category: % Value Growth 2013-2018
Table 5 Sales of Pastries by Type: % Value 2013-2018
Table 6 NBO Company Shares of Baked Goods: % Value 2014-2018
Table 7 LBN Brand Shares of Baked Goods: % Value 2015-2018
Table 8 Distribution of Baked Goods by Format: % Value 2013-2018
Table 9 Forecast Sales of Baked Goods by Category: Volume 2018-2023
Table 10 Forecast Sales of Baked Goods by Category: Value 2018-2023
Table 11 Forecast Sales of Baked Goods by Category: % Volume Growth 2018-2023
Table 12 Forecast Sales of Baked Goods by Category: % Value Growth 2018-2023

Packaged Food in Nigeria - Industry Overview

EXECUTIVE SUMMARY

Packaged food in Nigeria performing well
Fast growth of modern retail continues to boost packaged food
A competitive industry
Retail distribution moving from traditional to modern
Good prospects for packaged food over the forecast period

FOODSERVICE

Sales to Foodservice
Packaged food foodservice volume to see healthy increases as economy returns to growth over forecast period
Challenges to growth remain
Staple foods and cooking ingredients are categories driving growth
Consumer Foodservice
A return to economic growth will boost modern and high-priced consumer foodservice
Kiosks/stalls dominate
Fast food, full-service restaurants and cafés/bars expected to perform well

CATEGORY DATA

Table 13 Foodservice Sales of Packaged Food by Category: Volume 2013-2018
Table 14 Foodservice Sales of Packaged Food by Category: % Volume Growth 2013-2018
Table 15 Forecast Foodservice Sales of Packaged Food by Category: Volume 2018-2023
Table 16 Forecast Foodservice Sales of Packaged Food by Category: % Volume Growth 2018-2023

MARKET DATA

Table 17 Sales of Packaged Food by Category: Volume 2013-2018
Table 18 Sales of Packaged Food by Category: % Volume Growth 2013-2018
Table 19 Sales of Packaged Food by Category: % Value Growth 2013-2018
Table 20 GBO Company Shares of Packaged Food: % Value 2014-2018
Table 21 NBO Company Shares of Packaged Food: % Value 2014-2018
Table 22 LBN Brand Shares of Packaged Food: % Value 2015-2018
Table 23 Penetration of Private Label by Category: % Value 2013-2018
Table 24 Distribution of Packaged Food by Format: % Value 2013-2018
Table 25 Distribution of Packaged Food by Format and Category: % Value 2018
Table 26 Forecast Sales of Packaged Food by Category: Volume 2018-2023
Table 27 Forecast Sales of Packaged Food by Category: Value 2018-2023
Table 28 Forecast Sales of Packaged Food by Category: % Volume Growth 2018-2023
Table 29 Forecast Sales of Packaged Food by Category: % Value Growth 2018-2023

SOURCES

Summary 1 Research Sources

Packaged Food in Nigeria - Industry Overview

EXECUTIVE SUMMARY

Packaged food in Nigeria performing well
Fast growth of modern retail continues to boost packaged food
A competitive industry
Retail distribution moving from traditional to modern
Good prospects for packaged food over the forecast period

FOODSERVICE

Sales to Foodservice
Packaged food foodservice volume to see healthy increases as economy returns to growth over forecast period
Challenges to growth remain
Staple foods and cooking ingredients are categories driving growth
Consumer Foodservice
A return to economic growth will boost modern and high-priced consumer foodservice
Kiosks/stalls dominate
Fast food, full-service restaurants and cafés/bars expected to perform well
Category Data
Table 30 Foodservice Sales of Packaged Food by Category: Volume 2013-2018
Table 31 Foodservice Sales of Packaged Food by Category: % Volume Growth 2013-2018
Table 32 Forecast Foodservice Sales of Packaged Food by Category: Volume 2018-2023
Table 33 Forecast Foodservice Sales of Packaged Food by Category: % Volume Growth 2018-2023

MARKET DATA

Table 34 Sales of Packaged Food by Category: Volume 2013-2018
Table 35 Sales of Packaged Food by Category: % Volume Growth 2013-2018
Table 36 Sales of Packaged Food by Category: % Value Growth 2013-2018
Table 37 GBO Company Shares of Packaged Food: % Value 2014-2018
Table 38 NBO Company Shares of Packaged Food: % Value 2014-2018
Table 39 LBN Brand Shares of Packaged Food: % Value 2015-2018
Table 40 Penetration of Private Label by Category: % Value 2013-2018
Table 41 Distribution of Packaged Food by Format: % Value 2013-2018
Table 42 Distribution of Packaged Food by Format and Category: % Value 2018
Table 43 Forecast Sales of Packaged Food by Category: Volume 2018-2023
Table 44 Forecast Sales of Packaged Food by Category: Value 2018-2023
Table 45 Forecast Sales of Packaged Food by Category: % Volume Growth 2018-2023
Table 46 Forecast Sales of Packaged Food by Category: % Value Growth 2018-2023

SOURCES

Summary 2 Research Sources