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 crash) retail unit prices of yoghurt and sour milk products heightened whilst consumers’ disposable incomes decreased.
Rising prices and reduced availability of raw materials also occurred in yoghurt and sour milk product as the spread of COVID-19 disrupted imports. This has led to higher unit prices in the category in 2020.
The level of competition in yoghurt has intensified in recent years thanks to the emergence of new players looking to tap into yoghurt’s growth potential. There is a marginal share difference between top players Ranona and CHI, with the former overtaking the latter in 2020.
Yoghurt is expected to perform well over the forecast period as it further recovers from the negative impact of a slow economy over 2015-2017 and the pandemic turmoil in 2020 and 2021. The category will benefit from the country’s growing population, especially its urban one, and its perception as a convenient, nutritious, and filling snack.
Drinking yoghurt has a long tradition in Nigeria, albeit in unpackaged form. Thus, manufacturers are expected to take advantage of its popularity by offering better quality products than traditional cottage variants, such as the local kunnu, in line with increasing urbanisation and a desire for novel tastes.
Over the forecast period, yoghurt is predicted to see a greater manufacturer focus on premiumisation, especially when the economic climate in the country improves. Such products tend to be consumed by middle- and upper-income households, who enjoy purchasing products of significantly higher quality than the more popular mass brands.
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Understand the latest market trends and future growth opportunities for the Yoghurt and Sour Milk Drinks industry in Nigeria with research from Euromonitor International's team of in-country analysts – experts by industry and geographic specialisation.
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This report originates from Passport, our Yoghurt and Sour Milk Drinks research and analysis database.
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