Nigeria

Appliances and electronics specialists in Nigeria experienced a downturn in 2023 as consumers grappled with economic challenges. Rising costs of appliances and electronics prompted consumers to reassess their purchasing priorities, leading to a…

Sweet spreads recorded a strong volume decline in 2023, having already experienced decline in 2022. Inflationary conditions caused by depreciation of the local currency as well as sharp rises in fuel prices and a Federal Government demonetisation…

Wearables are expected to be the standout performer in 2023, registering double-digit volume growth and that is despite continuing high inflation and also significant currency devaluation, which is making imported products even more expensive.…

Concentrates has seen limited new product development recently, primarily due to stiff competition from affordable ready-to-drink juice and soft drink brands. Brands like Tang (Cadbury Nigeria Plc) and Kool2Go (Flour Mills of Nigeria Plc) faced…

Breakfast cereals recorded a substantial decline in retail and foodservice volume sales in 2023 due to adverse economic conditions and high inflation. Besides local currency depreciation, there was a cash shortage caused by a Federal Government…