Meals and soups is expected to see a rebound and register strong retail volume and value (constant 2022 prices) growth rates over the forecast period. This performance is predicted to be driven particularly by the anticipated economic recovery, a stabilisation of the currency exchange rate and rising consumer spending power.
Ready meals in Nigeria is a niche and quite novel category with limited sales, as consumers have access to cheap alternatives. For example, upper-income consumers employ home help and cooking staff, so many do not feel the need for convenience ready meals.
The largest category, soups, is expected to see strong retail volume and value (constant 2022 prices) growth rates to drive the overall performance of meals and soups in the forecast period. More consumers are likely to be drawn to the convenience that these products offer.
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Understand the latest market trends and future growth opportunities for the Meals and Soups industry in Nigeria with research from Euromonitor International's team of in-country analysts – experts by industry and geographic specialisation.
Key trends are clearly and succinctly summarised alongside the most current research data available. Understand and assess competitive threats and plan corporate strategy with our qualitative analysis, insight and confident growth projections.
Data and analysis in this report provides further detailed coverage dedicated to a comprehensive range of core packaged food categories.
If you're in the Meals and Soups industry in Nigeria, our research will help you to make informed, intelligent decisions; to recognise and profit from opportunity, or to offer resilience amidst market uncertainty.
Meals and Soups
This is the aggregation of ready meals, pizza, food kits, prepared salads, and soup. Includes: These are products that have had recipe 'skills' added to them by the manufacturer, resulting in a high degree of readiness, completion and convenience. Food kits is an exception where typically the extent of preparation is much shorter than other meal products; includes meal kits where consumers are to put together pre-portioned ingredients and cook with the guidance of recipe cards. Ready meals are generally accepted to be complete meals that require few or no extra ingredients. However, in the case of shelf stable ready meals, the term also encompasses meal 'centres’; for food kits, they do require a degree of cooking and preparation. As such, some meals may require cooking (ready-to-cook); others may simply need reheating, prior to serving (ready-to-eat). Excludes: Any products sold unpackaged and/or by weight, including food sold from a retail deli counter.See All of Our Definitions
This report originates from Passport, our Meals and Soups research and analysis database.
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