Processed Meat, Seafood and Alternatives To Meat in Nigeria

November 2023 | 23 pages | ID: PAABA4766CCCEN
Euromonitor International Ltd

Abstracts

Processed meat, seafood and alternatives to meat in Nigeria saw significant decline in volume terms in 2023 due to unfavourable economic conditions. High inflation as a result of a depreciated local currency, hikes in fuel prices, and a Federal Government demonetisation policy strongly impacted unit prices. Products in this category are not considered essential, and price-conscious local consumers reduced consumption, switching instead to essential staple foods or sourcing fresh food.

Euromonitor International's Processed Meat, Seafood and Alternatives to Meat in Nigeria report offers in-depth knowledge of the market at a national level, providing local insight and understanding unavailable elsewhere. In addition to the latest retail sales data 2018-2022, it identifies the leading companies, brands and retail outlets, and assesses the key trends and demographic shifts behind consumer demand and sales growth. How key trends such as health and wellness, sustainability and recovery from the pandemic are shaping the market in <|Year|> directly informs our forecasts to 2027, clearly indicating how the market is expected to change.

Product coverage: Meat and Seafood Substitutes, Processed Meat, Processed Seafood, Tofu and Derivatives.

Data coverage: market sizes (historic and forecasts), company shares, brand shares and distribution data.

Why buy this report?

• Get a detailed picture of the Processed Meat, Seafood and Alternatives to Meat market;
• Pinpoint growth sectors and identify factors driving change;
• Understand the competitive environment, the market’s major players and leading brands;
• Use five-year forecasts to assess how the market is predicted to develop.

Euromonitor International has over 40 years' experience of publishing market research reports, business reference books and online information systems. With offices in London, Chicago, Singapore, Shanghai, Vilnius, Dubai, Cape Town, Santiago, Sydney, Tokyo and Bangalore and a network of over 800 analysts worldwide, Euromonitor International has a unique capability to develop reliable information resources to help drive informed strategic planning.

Contents

Processed Meat, Seafood and Alternatives To Meat in Nigeria
Euromonitor International
November 2023
List Of Contents And Tables
PROCESSED MEAT, SEAFOOD AND ALTERNATIVES TO MEAT IN NIGERIA
KEY DATA FINDINGS

2023 DEVELOPMENTS

Adverse economic conditions lead to volume decline in 2023
Frozen processed poultry has the best performance but declines as local consumers seek cheap substitutes
Imported products suffer from the depreciation of the local currency
PROSPECTS AND OPPORTUNITIES
Category growth will align with economic recovery in Nigeria
Shelf stable seafood to drive overall growth due to intense competition and local consumers seeking variety
Frozen processed poultry is set to perform well as it benefits from convenience
CATEGORY DATA
Table 1 Sales of Processed Meat, Seafood and Alternatives to Meat by Category: Volume 2018-2023
Table 2 Sales of Processed Meat, Seafood and Alternatives to Meat by Category: Value 2018-2023
Table 3 Sales of Processed Meat, Seafood and Alternatives to Meat by Category: % Volume Growth 2018-2023
Table 4 Sales of Processed Meat, Seafood and Alternatives to Meat by Category: % Value Growth 2018-2023
Table 5 Sales of Shelf Stable Processed Red Meat by Type: % Volume Breakdown 2018-2023
Table 6 Sales of Frozen Processed Poultry by Type: % Value Breakdown 2018-2023
Table 7 Sales of Frozen Processed Seafood by Type: % Value Breakdown 2018-2023
Table 8 NBO Company Shares of Processed Meat, Seafood and Alternatives to Meat: % Value 2019-2023
Table 9 LBN Brand Shares of Processed Meat, Seafood and Alternatives to Meat: % Value 2020-2023
Table 10 Distribution of Processed Meat, Seafood and Alternatives to Meat by Format: % Value 2018-2023
Table 11 Forecast Sales of Processed Meat, Seafood and Alternatives to Meat by Category: Volume 2023-2028
Table 12 Forecast Sales of Processed Meat, Seafood and Alternatives to Meat by Category: Value 2023-2028
STAPLE FOODS IN NIGERIA
EXECUTIVE SUMMARY
Staple foods in 2023: The big picture
Key trends in 2023
Competitive Landscape
Channel developments
What next for staple foods?
MARKET DATA
Table 13 Sales of Staple Foods by Category: Volume 2018-2023
Table 14 Sales of Staple Foods by Category: Value 2018-2023
Table 15 Sales of Staple Foods by Category: % Volume Growth 2018-2023
Table 16 Sales of Staple Foods by Category: % Value Growth 2018-2023
Table 17 NBO Company Shares of Staple Foods: % Value 2019-2023
Table 18 LBN Brand Shares of Staple Foods: % Value 2020-2023
Table 19 Penetration of Private Label by Category: % Value 2018-2023
Table 20 Distribution of Staple Foods by Format: % Value 2018-2023
Table 21 Forecast Sales of Staple Foods by Category: Volume 2023-2028
Table 22 Forecast Sales of Staple Foods by Category: Value 2023-2028
Table 23 Forecast Sales of Staple Foods by Category: % Volume Growth 2023-2028
Table 24 Forecast Sales of Staple Foods by Category: % Value Growth 2023-2028
DISCLAIMER
SOURCES
Summary 1 Research Sources