Nigeria Dairy Products Market Outlook to 2020 – Launch of Innovative Dairy Products in Nigeria to Boost Dairy Products Market” provides a comprehensive analysis of the dairy product market in Nigeria. The report includes the market share contributed by the sales of different dairy products including processed milk, yoghurt, cheese, ice cream, butter, flavored milk and milk powder. The study also enlists the key market indicators which include consumption per capita, total consumption and production, average per unit and price, and import and export data by value and by quantity. Trends and developments and regulatory framework are also added in the study for clear understanding about the factors responsible for present scenario of the market. The future analysis of overall Nigeria dairy product market has also been discussed along with recommendations from analyst view.
The dairy product manufacturers in Nigeria receive milk supply largely from northern Nigeria. Favorable weather condition in the region has resulted in high presence of milk producing cows which is the major factor contributing towards high milk production in Northern Nigeria. Consequently, good quality feed and hygiene cattle management practices have also emerged in the northern region, which helps to build stronger local milk supply to the dairy product manufacturers in region. Nigeria’s dairy product manufacturers usually produce ice cream, chocolate milk, yoghurt, and long life milk locally. On the other hand, dairy products such as infant formula, cheese, butter, and ice cream are imported from the other nations to meet the rising demand during the period 2013 – 2015. Import by well established global giants is the major factor which is driving dairy products market in Nigeria. Nigeria dairy product market contributed ~% in 2013 in Africa dairy product market which increased to ~% in 2015. However, in terms of revenue the market has witnessed decline from NGN ~ billion in 2013 to NGN ~ billion in 2015 showing a negative CAGR of ~% during the period. Falling exchange rate of NGN/USD during the period further impacted the market in a negative manner in terms of USD with recorded CAGR of negative ~%, market size being valued at USD ~ billion in 2013 and USD ~ billion in 2015.
Milk powder is the ~ revenue generating segment of dairy industry in Nigeria with revenue share of ~% in 2013, ~% in 2014 and ~% in 2015. However, the percentage contribution by this segment has declined during the period owing to reduction in import volume after the rise in the import duties during the period. This scenario deviated the attention of many milk powder manufacturers towards production of its major substitute products such as UHT milk, long life milk, and skimmed milk. Yoghurt is estimated as the ~ growing segment in the market with CAGR of ~% in its local currency in between 2013 and 2015 resulting which yoghurt market had grown to a high value of NGN ~ billion in 2015. Yoghurt consumption is traditionally ~ in Nigeria due to which its manufacturers in nation were ~ to continuously work on its taste, and quality. This made its manufacturers capable to offer variety of yoghurt products such as soft drinkable yoghurt and spoon able yoghurt as a trendy refreshment dairy product in the nation for each and every individual as per the choice, leading to high demand for yoghurt.
Nigeria is having presence of both global giants like Clover, and Danone and local players such as CHI Ltd, which makes market highly fragmented in nature. The dominating segment milk powder is dominated by Friesland Campine Wamco with the market share of ~% owing to its affordable and convenience to use small proportion sachets packing of milk powder. In yoghurt market, Fan milk with revenue share of ~% in 2015 is observed to dominate the market followed by CHI Ltd. Fan milk is also observed to dominate the ice cream market with revenue contribution of USD ~ million. However, in processed milk and flavored milk segment, local players Peak Milk, and Bobo Food and Beverages are observed to dominate the market in 2015 respectively.
Key Topics Covered in the Report:
The market size of Nigeria Dairy Product Market
Market segmentation of Nigeria Dairy Product Market on the basis of Products
Trends and Developments in Nigeria Dairy Product Market
Regulatory Framework of Nigeria Dairy Product Market
Competitive Landscape and Detailed Company Profiles of the Major Market Players
Future Outlook and Projections of Nigeria Dairy Product Market
Macro-Economic Factors Impacting the Nigeria Dairy Product Market
Ankur Gupta, Head Marketing & Communications