Nigeria

The population in the Middle East and Africa region is growing rapidly, unlocking high levels of unmet potential and making the region an exciting prospect. Nevertheless, the fastest growing income segment is set to remain the lowest income class,…

Over 2021-2040, Nigeria’s per capita income is set to decline, as the economic outlook remains challenging because of the long-term effects of the oil price crisis. Rapid population growth, along with relatively low productivity are set to negatively…

This Megatrends report highlights long-term trends resulting from shifts in consumer values and behaviour. It provides a summary of each of Euromonitor International’s eight focus megatrends, and insights as to how each trend has…

While many companies often identify market segments using demographics alone, few would agree that consumers are neatly defined by age, gender or income. To overcome this, Euromonitor International’s Survey team has looked beyond standard…

Nigeria ranks at the bottom of the Environmental Sustainability Index, as the country lacks essential resources such as renewable water and food. In addition, despite being the largest regional energy exporter, Nigeria continues to experience…

In 2020, the COVID-19 pandemic led to significantly slower growth in yoghurt and sour milk products as the global economy worsened and unemployment increased. Furthermore, as the country’s currency depreciated (due to the international oil price…

Other dairy in Nigeria was negatively impacted by the COVID-19 pandemic in 2020, as consumers economised and prioritised purchasing essential goods. As such, there was a significant reduction in volume growth. In 2021, volume growth will be increased…

In 2020, the lockdowns, home seclusions, school closures, and other movement restrictions significantly impacted drinking milk product sales. Due to their nutritional value, products in the category are often consumed by consumers commuting to and…

Following from a very weak performance in 2020, cheese will see an improved performance in 2021 as the Nigerian economy begins to recover from the impact of COVID-19. Nevertheless, economic conditions will remain weakened throughout the year,…

COVID-19 and the subsequent lockdown in Q2 of 2020 resulted in heightened consumer interest in being healthy (and thus eating healthily). The immediate impact was a spike in sales of staples (pasta, noodles, rice, and canned/preserved food) due to…

In 2021, baby food is expected to resume sales growth as the country begins to recover from the recession caused by the COVID-19 pandemic. Nevertheless, the economic conditions will remain poor in 2021. Unemployment levels will remain higher than…

Having been little better than flat during 2020 due to the fact that consumers were spending more time at home due to restrictions on movement, the rate of growth in retail volume sales of wearable electronics will accelerate sharply during 2021.…

The dominance of wireless speakers in retail volume sales of portable players will continue to deepen during 2021, with portable multimedia players accounting for most of the remainder. However, demand for the latter is in an apparently inexorable…

Mobile phones remained the top performer in consumer electronics during 2021 in terms of its rate of retail current value sales growth. Mobile phones are perceived as a necessity by a growing number of local consumers, even among those on relatively…

The rate of growth in retail current value sales of in-car entertainment will accelerate sharply during 2021, as consumers move around more than they did in 2020 and consumer confidence begins to recover from the shock of COVID-19. In-dash media…

Retail current value sales of imaging devices declined for the first time in four years during 2020, due to a combination of the economic shock of the pandemic and the fact that restrictions on movement left most local consumers with fewer…

Having declined during 2020, as a weak economic environment and the depreciation of the naira (which led to a significant increase in the cost of imported goods) drove many local consumers to rein in their discretionary spending, retail volume sales…

COVID-19 caused supply chain disruption in home audio and cinema during 2020. The drove an acceleration in the rate of unit price growth and a dearth of new product launches. This trend will continue into 2021, with a further acceleration in the rate…

The rate of growth in retail current value sales of headphones will accelerate sharply during 2021, with TWS earbuds (particularly premium TWS earbuds) accounting for the bulk of demand. Conversely, retail current value sales of wireless headbands…

The economic shock of COVID-19 hit Nigeria particularly hard during 2020. Almost all of the consumer electronics brands that are sold in Nigeria are imported, so a sharp decline in the foreign-exchange value of the naira due to a significant decline…