Nigeria Milk Market 2024

The analysis predicts the milk market in Nigeria will grow from USD 1,089 million in 2023 to USD 4,077 million by 2029, achieving a compound annual growth rate (CAGR) of 24.6 percent. The Nigeria milk market is primarily driven by a growing population and increasing urbanization, which are fueling demand for dairy products across the country. Rising disposable incomes, particularly among the expanding middle class, are leading to a greater preference for packaged and fortified milk products that cater to nutritional needs. Additionally, government initiatives aimed at boosting local milk production and reducing the country’s reliance on imports are playing a crucial role in market development. Investments in improving dairy farming practices and expanding cold chain logistics are further enhancing the availability and quality of milk products. The proliferation of modern retail outlets and e-commerce platforms is also facilitating wider consumer access to diverse milk options, supporting overall market growth.

This report provides a thorough assessment of the Nigeria milk industry, presenting key market data including historical performance, growth trends, and future outlooks. It delves into various market segments and sub-segments, with a focus on important factors like product, and distribution channel. Through this detailed assessment, the report helps uncover the growth potential of the milk industry.

Market Segmentation

The milk market in Nigeria is categorized into the following segments:
Product: cow’s milk (fresh milk, shelf-stable milk), flavoured milk drinks, goat milk, plant-based milk, powdered milk
Distribution channel: convenience stores, supermarkets and hypermarkets, small grocery stores, foodservice channels, e-commerce, others

The Nigeria milk market is segmented on the basis of product, and distribution channel. On the basis of product, the milk market in Nigeria has been segmented into cow’s milk (fresh milk, shelf-stable milk), flavoured milk drinks, goat milk, plant-based milk, and powdered milk. By distribution channel, the milk market in Nigeria has been segmented into convenience stores, supermarkets and hypermarkets, small grocery stores, foodservice channels, e-commerce, and others.

Competitive Landscape

The Nigeria milk market is highly competitive. The milk market is dominated by key players, which are Viju Industries Nigeria Limited, TGI Distri Limited, Royal FrieslandCampina N.V., Promasidor (South Africa) (Pty) Ltd., Ornua Co-operative Ltd., Nestle S.A., DMK Deutsches Milchkontor GmbH, Danone S.A., Cway Food & Beverages Nig. Co. Ltd., Bobofoods & Beverages Limited, Arla Foods amba.

This report provides a comprehensive analysis of the key players in the Nigeria milk market, along with their performance from 2019 to 2023. By utilizing this data, businesses can gain a deeper understanding of market dynamics, including shifts in market share, the identification of leading players, and the rise of emerging companies. This information equips firms with a strategic advantage in a competitive landscape, enabling them to refine their market strategies and make informed, long-term decisions.

Why Buy This Report?

Obtain precise statistical data and forecasts for the Nigeria milk market.
Develop region-specific strategies and set strategic priorities based on localized data analysis.
Gain deep insights into the dynamics of the Nigeria milk market.
Identify high-potential investment opportunities by targeting growth sectors and emerging trends.
Anticipate the future trajectory of the Nigeria milk market with informed projections.
Assess the competitive landscape to determine the ideal timing for capitalizing on market opportunities.

Table of Contents

TABLE OF CONTENTS
Key findings
Report scope
Research methodology
Market overviewNigeria milk market – product analysis
Nigeria milk market – distribution channel analysis
Key players and market share
– Viju Industries Nigeria Limited
– TGI Distri Limited
– Royal FrieslandCampina N.V.
– Promasidor (South Africa) (Pty) Ltd.
– Ornua Co-operative Ltd.
…
Macroeconomic data and forecast
Disclaimer

FIGURES AND TABLES
Table Nigeria milk market 2019-2029
Chart Nigeria milk market, net growth, 2019-2029
Chart Nigeria milk market, growth rates, 2019-2029
Table Nigeria milk market by product, 2019-2029
Chart Nigeria milk market by product, CAGR historic and forecast, 2019-2029
Chart Nigeria milk market by product, 2019-2029
Table Nigeria milk market by distribution channel, 2019-2029
Chart Nigeria milk market by distribution channel, CAGR historic and forecast, 2019-2029
Chart Nigeria milk market by distribution channel, 2019-2029
Table Nigeria milk market share (%), by companies, 2019-2023
Chart Nigeria milk market, by companies, 2023
Table Nigeria milk market share (%), by brands, 2019-2023
Chart Nigeria milk market, by brands, 2023
Table Nigeria – population (millions) and forecast
Table Nigeria – consumer price index (CPI) and forecast
Table Nigeria – gross domestic product and forecast
Table Nigeria milk market: spend as a proportion of GDP (%)
Table Nigeria milk market: consumption per capita (population)