In contrast to many other types of snacks, retail volume sales of sugar confectionery continued to expand during 2020 – albeit at a much lower rate than in the previous year. This slowdown was due to a combination of the economic shock of the pandemic, which led many local consumers to reduce their discretionary spending, and the fact that schools were closed for an extended period during the year.
Urbanisation and population growth continue to drive growth in retail volume sales of sugar confectionery. Nigeria has a very high fertility rate and is urbanising rapidly.
Sweetco Foods Ltd will continue to dominate sugar confectionery during 2021, ahead of Cadbury Nigeria Plc. It is particularly strong in boiled sweets (with the Milkose, Sweetco Splash, and Melody Watermelon Candy brands) and lollipops (Pop Up Lollipop).
The rate of growth in retail volume sales of sugar confectionery will accelerate during 2022 and 2023 and remain vigorous for the remainder of the forecast period. Ongoing urbanisation and population growth will play an important role in this, as will an anticipated post-pandemic economic rebound, which will lead a growing number of consumers to increase their discretionary spending.
With many consumers set to feel better off during the forecast period, imported brands may start to gain retail value share from their domestic rivals. Moreover, the ongoing expansion of supermarkets in Nigeria will make it easier for international brands to widen their distribution.
Pastilles, gums, and chews and toffees, caramel and nougats are expected to be the top performers in sugar confectionery terms of their rates of retail volume sales growth during the forecast period as a whole. These are niche products in Nigeria, but their distribution is widening.
Delivery:
Files are delivered directly into your account soon after payment is received and any tax is certification is verified (where applicable).
Understand the latest market trends and future growth opportunities for the Sugar Confectionery 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.
If you're in the Sugar Confectionery 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.
This report originates from Passport, our Sugar Confectionery research and analysis database.
If you purchase a report that is updated in the next 60 days, we will send you the new edition and data extract FREE! Home Page