Chocolate confectionery will see positive growth in retail volume and current value terms over the forecast period as Nigeria’s economic conditions improve. The review period has seen a weak economy and a severe depreciation in the local currency leading to high import costs and pushing up prices beyond most consumers’ purchasing power, which has been further undermined by inflation, forcing Nigerians to focus their spending on essentials.
Affordable prices will drive chocolate confectionery growth during the forecast period. While steep price hikes in 2023 and 2024 have impacted demand, stability in the exchange rate should help to keep prices down.
Countlines will continue driving sales of chocolate confectionery over the forecast period; it is the largest subcategory and is likely to rise rapidly, though tablets will see faster retail volume sales from a smaller base. Brands in countlines are significantly cheaper than brands elsewhere in chocolate confectionery, and so see greater demand among new consumers.
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Understand the latest market trends and future growth opportunities for the Chocolate Confectionery industry in Nigeria with research from Euromonitor International's team of in-country analysts – experts by industry and geographic specialisation.
Key trends are clearly and succinctly summarised alongside the most current research data available. Understand and assess competitive threats and plan corporate strategy with our qualitative analysis, insight and confident growth projections.
Data and analysis in this report provides further detailed coverage dedicated to a comprehensive range of core packaged food categories.
If you're in the Chocolate Confectionery industry in Nigeria, our research will help you to make informed, intelligent decisions; to recognise and profit from opportunity, or to offer resilience amidst market uncertainty.
Chocolate Confectionery
This is the aggregation of tablets, countlines, chocolate pouches and bags, boxed assortments, seasonal chocolate, chocolate with toys, and other chocolate confectionery. Nuts and fruits covered in chocolate are included in this category. Note that chocolate overtly positioned for baking/cooking purposes is excluded from Euromonitor International's confectionery coverage.
See All of Our DefinitionsThis report originates from Passport, our Chocolate Confectionery research and analysis database.
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