Executive Summary

Sep 2018
PROSPECTS
Good growth expected over the forecast period

Butter and margarine is expected to perform well over the forecast period, following on from a poor performance in the review period due to economic recession and strong unit price increases caused by the depreciation of the local currency. With economic growth expected, attendant increase in disposable incomes and a stabilisation of the exchange rate should enable greater affordability of brands.

Margarine and spreads drives growth

Margarine and spreads is also expected to lead performance in butter and spreads over the forecast period. Whereas butter remains a niche product largely consumed by expatriates and upper-income consumers, margarine and spreads has stronger potential for growth as it is more affordable as a complement for bread.

Fast growth of modern retail channels boosts growth

The fast growth of the modern retail channels of convenience stores, supermarkets and hypermarkets is also helping to propel growth of butter and margarine, butter in particular. With greater spread of such modern retail outlets, brands are seeing greater visibility on shelves.

COMPETITIVE LANDSCAPE
Unilever Nigeria Plc leads, but sells its Blue Band brand

Unilever Nigeria Plc led retail value sales in Nigeria in 2018 with a fairly dominant share. Its Blue Band brand has historically enjoyed a near-monopoly in Nigeria and so it has gained strong brand equity.

Rasco & Brothers Nigeria Ltd’s True Vine is best performing

Rasco & Brothers Nigeria Ltd saw the strongest increase in share in 2017 and 2018, having launched only in 2015. A range of smaller pack sizes for its True Vine margarine brand have helped it appeal to lower-income consumers, due to greater affordability.

Strategies for success

Key successful strategies in the category are affordable pricing and visibility through strong distribution. For the latter, having small pack sizes (including flexible sachet packs) helps since it widens the pool of affordability to lower-income consumers.

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Overview

Discover the latest market trends and uncover sources of future market growth for the Butter and Margarine 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 Butter and Margarine industry in Nigeria, our research will save you time and money while empowering you to make informed, profitable decisions.

The Butter and Margarine 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 Butter and Margarine in Nigeria?
  • What are the major brands in Nigeria?
  • Are consumers in emerging markets moving from unpackaged to packaged oils and fats?
  • What are the sales prospects for “healthy” cooking oils?
  • Will retail sales suffer as economic prospects improve and consumers move back to eating out rather than cooking at home?
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.

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 1 Foodservice Sales of Packaged Food by Category: Volume 2013-2018
Table 2 Foodservice Sales of Packaged Food by Category: % Volume Growth 2013-2018
Table 3 Forecast Foodservice Sales of Packaged Food by Category: Volume 2018-2023
Table 4 Forecast Foodservice Sales of Packaged Food by Category: % Volume Growth 2018-2023

MARKET DATA

Table 5 Sales of Packaged Food by Category: Volume 2013-2018
Table 6 Sales of Packaged Food by Category: % Volume Growth 2013-2018
Table 7 Sales of Packaged Food by Category: % Value Growth 2013-2018
Table 8 GBO Company Shares of Packaged Food: % Value 2014-2018
Table 9 NBO Company Shares of Packaged Food: % Value 2014-2018
Table 10 LBN Brand Shares of Packaged Food: % Value 2015-2018
Table 11 Penetration of Private Label by Category: % Value 2013-2018
Table 12 Distribution of Packaged Food by Format: % Value 2013-2018
Table 13 Distribution of Packaged Food by Format and Category: % Value 2018
Table 14 Forecast Sales of Packaged Food by Category: Volume 2018-2023
Table 15 Forecast Sales of Packaged Food by Category: Value 2018-2023
Table 16 Forecast Sales of Packaged Food by Category: % Volume Growth 2018-2023
Table 17 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 18 Foodservice Sales of Packaged Food by Category: Volume 2013-2018
Table 19 Foodservice Sales of Packaged Food by Category: % Volume Growth 2013-2018
Table 20 Forecast Foodservice Sales of Packaged Food by Category: Volume 2018-2023
Table 21 Forecast Foodservice Sales of Packaged Food by Category: % Volume Growth 2018-2023

MARKET DATA

Table 22 Sales of Packaged Food by Category: Volume 2013-2018
Table 23 Sales of Packaged Food by Category: % Volume Growth 2013-2018
Table 24 Sales of Packaged Food by Category: % Value Growth 2013-2018
Table 25 GBO Company Shares of Packaged Food: % Value 2014-2018
Table 26 NBO Company Shares of Packaged Food: % Value 2014-2018
Table 27 LBN Brand Shares of Packaged Food: % Value 2015-2018
Table 28 Penetration of Private Label by Category: % Value 2013-2018
Table 29 Distribution of Packaged Food by Format: % Value 2013-2018
Table 30 Distribution of Packaged Food by Format and Category: % Value 2018
Table 31 Forecast Sales of Packaged Food by Category: Volume 2018-2023
Table 32 Forecast Sales of Packaged Food by Category: Value 2018-2023
Table 33 Forecast Sales of Packaged Food by Category: % Volume Growth 2018-2023
Table 34 Forecast Sales of Packaged Food by Category: % Value Growth 2018-2023

SOURCES

Summary 2 Research Sources