During the present era, the Research Market Nigeria is at an augmenting stage. Whereas, with the utmost growth in the quantity of a second hand and fresh passenger and commercial vehicles in the economy, the Lubricants Market has positively augmented over the present past years. Not only has this, but the Nigeria Baby Food Industry in the region is also majorly influenced by the effective growth in the disposable income of the people, significant growth in the awareness among the parents to give healthier food to the babies, enormous augment in the internet retailing among the several other aspects. The market is probable to demonstrate positive growth and pursue to advance in the coming years.
While logistics is vigorous for the economic enactment of any economy. Nigeria has deprived infrastructure and logistical issues along with overdue custom measures and congestion on the roads. It is an import-based region and the economy is reliant on the export of crude oil. Nigeria was graded 145 out of 190 economies in 2018 in affluence of doing business Index and ranks 112 in the Logistics Performance Index (2018). The growth in Research Market in Nigeria has been owing to the Infrastructural developments in Railways and Airways, advancement in foreign ties with other regions and the positive growth in the e-commerce sector.
In addition, the thriving of e-commerce and the enabling of e-payment systems such as Paystack, PIN-based debit cards in Nigeria have augmented the requirement of the couriers and parcel market in the region. The positive growth in the prominence of online shopping will also underwrite towards long term growth for EDS (Express Delivery Segment) during the future. The efficient growth of the e-commerce business has led to a conjunction of B2B and B2C traffic, with parcel logistics, the merchant’s progressive assumption both to serve clients’ Omnichannel supply chains.
The infrastructural advancement, positive growth in the e-commerce segment and augmenting the special export promoting zones will influence the requirement of the logistics segment across Nigeria.
Although, Nigeria Warehousing market was appraised to augment robustly throughout the review duration. The growth was majorly due to the effective increase in international trade volumes, market entry of international players, increasing e-commerce market and building new manufacturing units and industries in Nigeria in order to create the region self-reliant. Unremitting efforts have been taken by the government along with the Chinese government for emerging free trade zone locations and industrial parks in the economy. Foremost investment by foreign corporates has influenced the entire warehousing market in the country.
Moreover, the requirement for the warehousing across Nigeria will be influenced by the effective growth in the manufacturing industries, augmenting the special export promoting zones and infrastructural advancements.
The international players working in the country had a primary share in the market share in terms of the sales volume as equal to the independent marketers. However, the Lubricants Market Future Outlook is promising owing to the crude oil prices expand, Nigeria’s region is estimated to increase at a sophisticated rate and therefore the purchasing power of the individual is also projected to augment during the near years.
Nigeria Baby Food Market Outlook to 2023 – By Milk Formulae (Standard, Follow-On, Growing-Up Milk Formula), Dried Baby Food (Cereal Based and Others -Meat/Fish, Fruits & Vegetable and Nuts), Prepared/ Ready to Eat Baby Food and Other Baby Food; By Organic Baby Food; By Channel (Supermarkets, Independent Small Grocers, and Online
Nigeria Lubricants Market Outlook to 2022- By Type of Lubricant (Engine Oil, Industrial Oil, Transmission Oil, Marine Oil, Grease and Specialty Lubricants), Type of Applications (Automotive and Industrial), Region (Lagos, Northern Nigeria, Eastern Nigeria, and Western Nigeria)
Nigeria Logistics and Warehousing Market Outlook to 2023 – By Sea, Land, Pipeline, Air Freight Forwarding; International and Domestic Freight, Integrated and 3PL Freight Forwarding; By Warehousing (Industrial/ Retail, ICD/CFS, Cold Storage, Others), By End Users, 3PL Warehousing, Type of Warehouses; By Courier Express and Parcel Logistics and E-commerce Logistics
Ankur Gupta, Head Marketing & Communications