The Nigeria snacks market is on track to grow from USD 1,659.5 million in 2023 to USD 2,618.8 million by 2029, with a projected CAGR of 7.9% across the forecast period. Nigeria’s snacks market is booming, driven by rapid urbanization and a rising middle class with more disposable income. In cities like Lagos and Abuja, busy work schedules and the demand for convenience have led to an increase in the consumption of snacks such as chips, nuts, and biscuits. Furthermore, the growing trend toward health and wellness is influencing Nigerian consumers, with rising demand for healthier snacks that are high in protein, fiber, or made with natural ingredients. The increasing availability of local and international snack brands is also fueling market expansion by offering a diverse range of products.
The report provides a comprehensive analysis of the Nigeria snacks industry, presenting detailed market data including historical market size, growth rates, and future forecasts. It offers an in-depth examination of various market categories and subcategories, with a particular focus on key factors such as product type and distribution channel. The insights gained from this evaluation help reveal the growth potential within the snacks sector.
Market Segmentation
The segmentation of the Nigeria snacks market is outlined below:
Product type: confectionery, ice cream and frozen dessert, savoury snacks, fruit snacks, sweet biscuits
Distribution channel: convenience stores, supermarkets and hypermarkets, grocery stores, bars and HoReCa, others
The Nigeria snacks market is categorized by product type and distribution channel. The market is classified by product type into confectionery, ice cream and frozen dessert, savoury snacks, fruit snacks, and sweet biscuits. Distribution channel segmentation comprises convenience stores, supermarkets and hypermarkets, grocery stores, bars and HoReCa, and others.
Competitive Landscape
In examining the competitive landscape, key players in the snacks market include Tolaram Group, The Procter & Gamble Company (P&G), Sweetco Foods Ltd., Sumal Foods Ltd., SoNa Sp. z o.o., Pladis Foods Limited, Perfetti Van Melle Group, Parle Products Pvt. Ltd., Olam Group Limited, Niger Biscuit Co. Ltd., Newbisco Ltd., Nestle S.A., Nasco Group (Nigeria) Ltd., Mondelez International Inc., Mars Incorporated, Mamuda Foods Nigeria Limited, Kellanova, Ferrero International S.A., Fastizers Food & Confectionery Ltd., Deli Foods Nigeria Ltd., Danone S.A., Britannia Industries Ltd. and Beloxxi Industries Ltd.
This report presents an extensive analysis of major entities in the snacks market, focusing on their performance from 2019 to 2023. Findings showcase changes in market share, recognizing both long-standing leaders and new challengers.
Why Buy This Report?
Obtain precise statistical data and forecasts for the Nigeria snacks market.
Gain in-depth analysis and forecasts for the key segments of the Nigeria snacks market: product 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 snacks market.
Identify high-potential investment opportunities by targeting growth sectors and emerging trends.
Anticipate the future trajectory of the Nigeria snacks 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 Snacks Market – Product Type Analysis
Nigeria Snacks Market – Distribution Channel Analysis
Key Players and Market Share
– Tolaram Group
– The Procter & Gamble Company (P&G)
– Sweetco Foods Ltd.
– Sumal Foods Ltd.
– SoNa Sp. z o.o.
– Pladis Foods Limited
– Perfetti Van Melle Group
– Parle Products Pvt. Ltd.
– Olam Group Limited
…
Macroeconomic Data and Forecast
Disclaimer
FIGURES AND TABLES
Table Nigeria Snacks Market 2019-2029
Chart Nigeria Snacks Market, Net Growth, 2019-2029
Chart Nigeria Snacks Market, Growth Rates, 2019-2029
Table Nigeria Snacks Market by Product Type, 2019-2029
Chart Nigeria Snacks Market by Product Type, CAGR Historic and Forecast, 2019-2029
Chart Nigeria Snacks Market by Product Type, 2019-2029
Table Nigeria Snacks Market by Distribution Channel, 2019-2029
Chart Nigeria Snacks Market by Distribution Channel, CAGR Historic and Forecast, 2019-2029
Chart Nigeria Snacks Market by Distribution Channel, 2019-2029
Table Nigeria Snacks Market Share (%), by Companies, 2019-2023
Chart Nigeria Snacks Market, by Companies, 2023
Table Nigeria Snacks Market Share (%), by Brands, 2019-2023
Chart Nigeria Snacks 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 Snacks Market: Spend as a Proportion of GDP (%)
Table Nigeria Snacks Market: Consumption per Capita (Population)
Companies Mentioned
Tolaram Group
The Procter & Gamble Company (P&G)
Sweetco Foods Ltd.
Sumal Foods Ltd.
SoNa Sp. z o.o.
Pladis Foods Limited
Perfetti Van Melle Group
Parle Products Pvt. Ltd.
Olam Group Limited
Niger Biscuit Co., Ltd.
Newbisco Ltd.
Nestle S.A.
Nasco Group (Nigeria) Ltd.
Mondelez International Inc.
Mars, Incorporated
Mamuda Foods Nigeria Limited
Kellanova
Ferrero International S.A.
Fastizers Food & Confectionery Ltd.
Deli Foods Nigeria Ltd.
Danone S.A.
Britannia Industries Ltd.
Beloxxi Industries Ltd.