Country Report

Spreads in

Spreads in Nigeria

26 pages, Nov 2017

US$990

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Executive Summary

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TRENDS

As the spreads available in Nigeria are largely foreign and wholly imported (excluding honey), the performance in 2016 and 2017 was fairly poor, due to economic recession and the depreciation of the local currency, which impacted imports and led to high unit prices. In addition, the growth of the middle-classes and Nigerians being exposed to the West helped to drive growth over the review period. The category saw some recovery in 2017, but this was mild for most categories except honey, since prices remained high and disposable incomes low. Products such as jams and preserves are largely consumed by those on high incomes, and so see lower demand in periods of slow economic growth.

COMPETITIVE LANDSCAPE

Geurts Conservenfabriek led spreads in 2016, recording a retail value share of 27% (falling to 26% in 2017), and was followed by Natco Natural Foods (15% in 2017, also with a declining trend). These companies benefit from the fact that their products are competitively-priced and widely available within retail outlets throughout Nigeria.

PROSPECTS

Spreads is expected to record a value CAGR of 7% at constant 2017 prices over the forecast period, which is a significant improvement compared with the performance seen over the review period. This is due to the expected recovery of the economy. With growing incomes amongst the middle-classes, who want to try new products, particularly Western food products, demand will grow. The wider availability of products which have traditional unpackaged consumption, such as honey, in packaged format, will also stimulate growth.

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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.

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Overview

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

The Spreads 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 Spreads in Nigeria?
What are the major brands in Nigeria?
How are manufacturers leveraging health and wellness trends like reduced sugar or organic sourcing?

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.

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Country Report

Spreads in Nigeria

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Executive Summary

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TRENDS

COMPETITIVE LANDSCAPE

PROSPECTS

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Overview

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