Executive Summary

Nov 2019
PROSPECTS
Honey will drive growth as consumers seek quality and packaged range expands

With growing urbanisation and westernisation, as well as the increased availability of packaged spreads products in retail outlets, the category is expected to grow well over the forecast period. Honey continues to lead the way in the category, as it is increasingly available in packaged form in retail outlets, whereas it has generally been consumed in Nigeria in artisanal form.

Consumers seeking novelty toppings for staple food

Consumers are also seeking novel alternatives to regular spreads such as margarine, leading to growing demand for sweet spreads to complement bread, a popular staple food in Nigeria. Niche categories such as chocolate spreads and nuts and seed based spreads are therefore expected to grow quite well over the forecast period.

Middle-income households have a sweet tooth as the economy recovers

An improvement in the economy over the forecast period is expected to help boost demand among middle income consumers.

COMPETITIVE LANDSCAPE
Geurts retains company and brand top spot thanks to strong presence

Geurts Conservenfabriek BV remains the leading player in the sweet spreads category in Nigeria. The company’s broad range of brands, along with the marketing drive of its franchise holders, has enabled it to penetrate the category successfully.

Domestic players producing local and affordable spreads to keep consumers sweet

Competition within sweet spreads has grown well from a variety of small packaged honey brands. Many local players have resorted to the production of packaged brands that have only regional reach, but their affordability is helping to boost demand against leading international brands.

Local honey set to step up advertising to compete with international brands

Manufacturers may start advertising over the coming years in order to boost sales. More domestic players are also expected to enter the category, in a bid to compete with imported brands, particularly in areas such as honey where unpackaged products are plentiful and manufacturers are benefiting from packaging and marketing local honey varieties.

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Sweet Spreads in Nigeria

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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.

Sweet Spreads in Nigeria - Category analysis

HEADLINES

PROSPECTS

Honey will drive growth as consumers seek quality and packaged range expands
Consumers seeking novelty toppings for staple food
Middle-income households have a sweet tooth as the economy recovers

COMPETITIVE LANDSCAPE

Geurts retains company and brand top spot thanks to strong presence
Domestic players producing local and affordable spreads to keep consumers sweet
Local honey set to step up advertising to compete with international brands

CATEGORY DATA

Table 1 Sales of Sweet Spreads by Category: Volume 2014-2019
Table 2 Sales of Sweet Spreads by Category: Value 2014-2019
Table 3 Sales of Sweet Spreads by Category: % Volume Growth 2014-2019
Table 4 Sales of Sweet Spreads by Category: % Value Growth 2014-2019
Table 5 NBO Company Shares of Sweet Spreads: % Value 2015-2019
Table 6 LBN Brand Shares of Sweet Spreads: % Value 2016-2019
Table 7 Distribution of Sweet Spreads by Format: % Value 2014-2019
Table 8 Forecast Sales of Sweet Spreads by Category: Volume 2019-2024
Table 9 Forecast Sales of Sweet Spreads by Category: Value 2019-2024
Table 10 Forecast Sales of Sweet Spreads by Category: % Volume Growth 2019-2024
Table 11 Forecast Sales of Sweet Spreads by Category: % Value Growth 2019-2024

Packaged Food in Nigeria - Industry Overview

EXECUTIVE SUMMARY

Packaged food rebounds thanks to population growth and shift to packaged options
Weak economic conditions continue to constrain growth in 2019
Higher import prices open up space for local companies
Modern grocery retailers benefit from expansion and offering comfortable shopping experience
Increasingly sophisticated consumers set to focus on quality

FOODSERVICE

Sales to Foodservice
Urbanisation helps to drive demand for foodservice
Basic staples and cooking ingredients benefit from foodservice operators shifting to branded options
Emergence of consumer foodservice chains boosts demand for organised suppliers

CATEGORY DATA

Table 12 Foodservice Sales of Packaged Food by Category: Volume 2014-2019
Table 13 Foodservice Sales of Packaged Food by Category: % Volume Growth 2014-2019
Table 14 Forecast Foodservice Sales of Packaged Food by Category: Volume 2019-2024
Table 15 Forecast Foodservice Sales of Packaged Food by Category: % Volume Growth 2019-2024

MARKET DATA

Table 16 Sales of Packaged Food by Category: Volume 2014-2019
Table 17 Sales of Packaged Food by Category: Value 2014-2019
Table 18 Sales of Packaged Food by Category: % Volume Growth 2014-2019
Table 19 Sales of Packaged Food by Category: % Value Growth 2014-2019
Table 20 GBO Company Shares of Packaged Food: % Value 2015-2019
Table 21 NBO Company Shares of Packaged Food: % Value 2015-2019
Table 22 LBN Brand Shares of Packaged Food: % Value 2016-2019
Table 23 Distribution of Packaged Food by Format: % Value 2014-2019
Table 24 Distribution of Packaged Food by Format and Category: % Value 2019
Table 25 Forecast Sales of Packaged Food by Category: Volume 2019-2024
Table 26 Forecast Sales of Packaged Food by Category: Value 2019-2024
Table 27 Forecast Sales of Packaged Food by Category: % Volume Growth 2019-2024
Table 28 Forecast Sales of Packaged Food by Category: % Value Growth 2019-2024

SOURCES

Summary 1 Research Sources