The Nigeria chocolate confectionery market is poised for steady growth, with an expected increase of USD 17.8 million, reflecting a compound annual growth rate (CAGR) of approximately 8.5% from 2024 to 2029. Nigeria’s chocolate confectionery market is growing, driven by a rising middle class and increasing urbanization. As consumer purchasing power rises, there is an increased demand for premium chocolates, both locally produced and imported. The culture of gifting chocolates during holidays, such as Christmas and Eid, plays a major role in driving seasonal demand, while growing retail and online sales channels further support market expansion.
The report delivers an in-depth analysis of the Nigeria chocolate confectionery industry, offering extensive market data such as historical market size, growth trajectories, and forward-looking projections. It thoroughly examines key market categories and subcategories, emphasizing critical elements like product type, type and distribution channel. By offering this detailed analysis, the report assists in uncovering the untapped potential of the chocolate confectionery market.
Market Segmentation
The following outlines the segmentation of the Nigeria chocolate confectionery market:
Product type: boxed chocolates, countlines, pouches and bags, tablets
Type: regular, sugar-free
Distribution channel: convenience stores, forecourt stores, supermarkets and hypermarkets, food and drinks stores, grocery stores, others
The chocolate confectionery market in Nigeria is segmented across product type, type and distribution channel. The market is classified by product type into boxed chocolates, countlines, pouches and bags, and tablets. Type categories include regular, and sugar-free. Distribution channel segmentation comprises convenience stores, forecourt stores, supermarkets and hypermarkets, food and drinks stores, grocery stores, and others.
Competitive Landscape
The chocolate confectionery market is dominated by key players, including Simsek Biscuit & Food Inc. Co., Nestle S.A., Mondelez International Inc., Mars Incorporated, Honipod Nigeria Ltd., Elvan Gida San ve Tic AS and Chocoladefabriken Lindt & Sprungli AG. This report delivers an in-depth examination of leading companies in the chocolate confectionery sector, analyzing their performance from 2019 to 2023. The results indicate changes in market share, emphasizing both established leaders and new entrants.
Why Buy This Report?
Obtain precise statistical data and forecasts for the Nigeria chocolate confectionery market.
Gain in-depth analysis and forecasts for the key segments of the Nigeria chocolate confectionery market: product type, type and distribution channel.
Develop region-specific strategies and set strategic priorities based on localized data analysis.
Gain deep insights into the dynamics of the Nigeria chocolate confectionery market.
Identify high-potential investment opportunities by targeting growth sectors and emerging trends.
Anticipate the future trajectory of the Nigeria chocolate confectionery market with informed projections.
Assess the competitive landscape to determine the ideal timing for capitalizing on market opportunities.
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Table of Contents
TABLE OF CONTENTS
Key Findings
Report Scope
Research Methodology
Market Overview
Nigeria Chocolate Confectionery Market – Product Type Analysis
Nigeria Chocolate Confectionery Market – Type Analysis
Nigeria Chocolate Confectionery Market – Distribution Channel Analysis
Key Players and Market Share
– Simsek Biscuit & Food Inc. Co.
– Nestle S.A.
– Mondelez International Inc.
– Mars, Incorporated
– Honipod Nigeria Ltd.
– Elvan Gida San ve Tic AS
– Chocoladefabriken Lindt & Sprungli AG
Macroeconomic Data and Forecast
Disclaimer
FIGURES AND TABLES
Table Nigeria Chocolate Confectionery Market 2019-2029
Chart Nigeria Chocolate Confectionery Market, Net Growth, 2019-2029
Chart Nigeria Chocolate Confectionery Market, Growth Rates, 2019-2029
Table Nigeria Chocolate Confectionery Market by Product Type, 2019-2029
Chart Nigeria Chocolate Confectionery Market by Product Type, CAGR Historic and Forecast, 2019-2029
Chart Nigeria Chocolate Confectionery Market by Product Type, 2019-2029
Table Nigeria Chocolate Confectionery Market by Type, 2019-2029
Chart Nigeria Chocolate Confectionery Market by Type, CAGR Historic and Forecast, 2019-2029
Chart Nigeria Chocolate Confectionery Market by Type, 2019-2029
Table Nigeria Chocolate Confectionery Market by Distribution Channel, 2019-2029
Chart Nigeria Chocolate Confectionery Market by Distribution Channel, CAGR Historic and Forecast, 2019-2029
Chart Nigeria Chocolate Confectionery Market by Distribution Channel, 2019-2029
Table Nigeria Chocolate Confectionery Market Share (%), by Companies, 2019-2023
Chart Nigeria Chocolate Confectionery Market, by Companies, 2023
Table Nigeria Chocolate Confectionery Market Share (%), by Brands, 2019-2023
Chart Nigeria Chocolate Confectionery Market, by Brands, 2023
Table Nigeria – Population (Millions) and Forecast
Table Nigeria – Consumer Price Index (CPI) and Forecast
Table Nigeria – Gross Domestic Product and Forecast
Table Nigeria Chocolate Confectionery Market: Spend as a Proportion of GDP (%)
Table Nigeria Chocolate Confectionery Market: Consumption per Capita (Population)
Companies Mentioned
Simsek Biscuit & Food Inc. Co.
Nestle S.A.
Mondelez International Inc.
Mars, Incorporated
Honipod Nigeria Ltd.
Elvan Gida San ve Tic AS
Chocoladefabriken Lindt & Sprungli AG