| Product Code: ETC8632575 | Publication Date: Sep 2024 | Updated Date: Nov 2025 | Product Type: Market Research Report | |
| Publisher: 6Wresearch | Author: Summon Dutta | No. of Pages: 75 | No. of Figures: 35 | No. of Tables: 20 |
The import shipments of plant-based functional food ingredients to Nigeria in 2024 indicate a significant shift in market dynamics, with top exporting countries being the USA, India, Metropolitan France, UK, and South Africa. The high concentration levels observed in 2023 escalated to very high levels in 2024, suggesting a more consolidated market landscape. However, the negative Compound Annual Growth Rate (CAGR) of -8.46% from 2020 to 2024 and a steep decline in growth rate of -25.03% from 2023 to 2024 highlight challenges and potential shifts in consumer preferences or market conditions impacting the industry.

1 Executive Summary |
2 Introduction |
2.1 Key Highlights of the Report |
2.2 Report Description |
2.3 Market Scope & Segmentation |
2.4 Research Methodology |
2.5 Assumptions |
3 Nigeria Plant Based Functional Food Ingredients Market Overview |
3.1 Nigeria Country Macro Economic Indicators |
3.2 Nigeria Plant Based Functional Food Ingredients Market Revenues & Volume, 2021 & 2031F |
3.3 Nigeria Plant Based Functional Food Ingredients Market - Industry Life Cycle |
3.4 Nigeria Plant Based Functional Food Ingredients Market - Porter's Five Forces |
3.5 Nigeria Plant Based Functional Food Ingredients Market Revenues & Volume Share, By Source, 2021 & 2031F |
3.6 Nigeria Plant Based Functional Food Ingredients Market Revenues & Volume Share, By Application, 2021 & 2031F |
3.7 Nigeria Plant Based Functional Food Ingredients Market Revenues & Volume Share, By Health Benefit, 2021 & 2031F |
4 Nigeria Plant Based Functional Food Ingredients Market Dynamics |
4.1 Impact Analysis |
4.2 Market Drivers |
4.2.1 Increasing awareness about health benefits of plant-based diets |
4.2.2 Growing demand for natural and organic food products |
4.2.3 Government initiatives promoting sustainable agriculture and plant-based nutrition |
4.3 Market Restraints |
4.3.1 Limited availability of raw materials and ingredients |
4.3.2 High production costs compared to conventional food ingredients |
4.3.3 Lack of consumer awareness and acceptance of plant-based functional food ingredients |
5 Nigeria Plant Based Functional Food Ingredients Market Trends |
6 Nigeria Plant Based Functional Food Ingredients Market, By Types |
6.1 Nigeria Plant Based Functional Food Ingredients Market, By Source |
6.1.1 Overview and Analysis |
6.1.2 Nigeria Plant Based Functional Food Ingredients Market Revenues & Volume, By Source, 2021- 2031F |
6.1.3 Nigeria Plant Based Functional Food Ingredients Market Revenues & Volume, By Natural, 2021- 2031F |
6.1.4 Nigeria Plant Based Functional Food Ingredients Market Revenues & Volume, By Synthetic Source, 2021- 2031F |
6.2 Nigeria Plant Based Functional Food Ingredients Market, By Application |
6.2.1 Overview and Analysis |
6.2.2 Nigeria Plant Based Functional Food Ingredients Market Revenues & Volume, By Food, 2021- 2031F |
6.2.3 Nigeria Plant Based Functional Food Ingredients Market Revenues & Volume, By Beverages, 2021- 2031F |
6.3 Nigeria Plant Based Functional Food Ingredients Market, By Health Benefit |
6.3.1 Overview and Analysis |
6.3.2 Nigeria Plant Based Functional Food Ingredients Market Revenues & Volume, By Gut Health, 2021- 2031F |
6.3.3 Nigeria Plant Based Functional Food Ingredients Market Revenues & Volume, By Heart Health, 2021- 2031F |
6.3.4 Nigeria Plant Based Functional Food Ingredients Market Revenues & Volume, By Bone Health, 2021- 2031F |
6.3.5 Nigeria Plant Based Functional Food Ingredients Market Revenues & Volume, By Immunity, 2021- 2031F |
6.3.6 Nigeria Plant Based Functional Food Ingredients Market Revenues & Volume, By Nutritive Health, 2021- 2031F |
6.3.7 Nigeria Plant Based Functional Food Ingredients Market Revenues & Volume, By Weight Management, 2021- 2031F |
7 Nigeria Plant Based Functional Food Ingredients Market Import-Export Trade Statistics |
7.1 Nigeria Plant Based Functional Food Ingredients Market Export to Major Countries |
7.2 Nigeria Plant Based Functional Food Ingredients Market Imports from Major Countries |
8 Nigeria Plant Based Functional Food Ingredients Market Key Performance Indicators |
8.1 Number of new product launches containing plant-based functional food ingredients |
8.2 Growth in number of food manufacturers adopting plant-based ingredients in their product lines |
8.3 Increase in research and development investments in plant-based functional food ingredients |
8.4 Number of partnerships and collaborations between food companies and plant-based ingredient suppliers |
8.5 Consumer surveys indicating preference for plant-based functional food ingredients |
9 Nigeria Plant Based Functional Food Ingredients Market - Opportunity Assessment |
9.1 Nigeria Plant Based Functional Food Ingredients Market Opportunity Assessment, By Source, 2021 & 2031F |
9.2 Nigeria Plant Based Functional Food Ingredients Market Opportunity Assessment, By Application, 2021 & 2031F |
9.3 Nigeria Plant Based Functional Food Ingredients Market Opportunity Assessment, By Health Benefit, 2021 & 2031F |
10 Nigeria Plant Based Functional Food Ingredients Market - Competitive Landscape |
10.1 Nigeria Plant Based Functional Food Ingredients Market Revenue Share, By Companies, 2024 |
10.2 Nigeria Plant Based Functional Food Ingredients Market Competitive Benchmarking, By Operating and Technical Parameters |
11 Company Profiles |
12 Recommendations |
13 Disclaimer |