Baby Cereals & Other Dried Baby Food - Nigeria

Nigeria

Revenue in the Baby Cereals & Other Dried Baby Food market amounts to €65.70m in 2024. The market is expected to grow annually by 15.65% (CAGR 2024-2029).
In global comparison, most revenue is generated in China (€1,896m in 2024).
In relation to total population figures, per person revenues of €0.29 are generated in 2024.
In the Baby Cereals & Other Dried Baby Food market, volume is expected to amount to 16.97m kg by 2029. The Baby Cereals & Other Dried Baby Food market is expected to show a volume growth of 10.7% in 2025.
The average volume per person in the Baby Cereals & Other Dried Baby Food market is expected to amount to 0.0kg in 2024.

Key regions: Spain, Russia, Japan, India, United States

Marché

Région

Comparaison de régions

Monnaie

Analyst Opinion

The Baby Cereals & Other Dried Baby Food Market in Nigeria has seen a steady growth rate due to factors such as increasing urbanization, rising birth rates, and an increase in working mothers. However, the market's growth rate is subdued due to economic challenges and lack of awareness about the nutritional benefits of these products.

Customer preferences: As consumer awareness about the importance of early childhood nutrition increases in Nigeria, there has been a noticeable trend towards organic and natural baby food products. This shift is driven by a growing preference for healthier and more nutritious options for babies. Additionally, with more women entering the workforce, there has been an increase in demand for convenient and on-the-go baby food options, leading to a rise in sales of dried baby food products.

Trends in the market: In Nigeria, the Baby Cereals & Other Dried Baby Food Market of the Baby Food Market within The Food market is experiencing a shift towards healthier and more organic options. This trend is driven by a growing awareness of the importance of proper nutrition for infants and the increasing demand for natural and non-GMO products. Additionally, there is a rise in e-commerce platforms, making it easier for parents to access a wider range of baby food products. These trends have significant implications for industry stakeholders, as they must adapt to meet the changing demands of consumers and stay competitive in the market.

Local special circumstances: In Nigeria, the Baby Cereals & Other Dried Baby Food Market of the Baby Food Market within The Food market is influenced by the country's cultural preference for homemade and natural food products. This has led to the popularity of locally sourced and organic baby food options. Additionally, the government's efforts to improve food safety and nutrition have resulted in stricter regulations for baby food products, creating a more competitive and quality-driven market.

Underlying macroeconomic factors: The Baby Cereals & Other Dried Baby Food Market of the Baby Food Market within The Food market is influenced by macroeconomic factors such as changing consumer preferences, increasing disposable income, and growing urbanization. With a growing population and improving economic conditions, there is a rising demand for convenient and nutritious baby food options. Additionally, government initiatives to promote healthy eating habits and the increasing trend of dual-income households are also contributing to the growth of the market. However, fluctuating commodity prices and trade tensions can have a significant impact on the market's performance, as many of the ingredients used in baby food production are imported. Furthermore, currency fluctuations and inflation rates can also affect consumer purchasing power and ultimately impact market growth.

Methodology

Data coverage:

The data encompasses B2C enterprises. Figures are based on the total consumer spending on food, which comprises all private household spending on food that is meant for at-home consumption (out-of-home consumption is not accounted for).

Modeling approach:

Market sizes are determined through a top-down approach, building on specific predefined factors for each market segment. As a basis for evaluating markets, we use resources from the Statista platform as well as in-house market research, national statistical offices, international institutions, trade associations, companies, the trade press, and the experience of our analysts. In addition, we use relevant key market indicators and data from country-specific associations, such as GDP, consumer spending, and consumer price index. This data helps us estimate the market size for each country individually.

Forecasts:

In our forecasts, we apply diverse forecasting techniques. The selection of forecasting techniques is based on the behavior of the relevant market. For example, the exponential trend smoothing is well suited for forecasting the Food market with a projected steady growth. The main drivers are GDP per capita and consumer spending per capita.

Additional notes:

The data is modeled using current exchange rates. The impact of the COVID-19 pandemic and the Russia-Ukraine war are considered at a country-specific level. The market is updated twice a year.