Nigeria Sugar Confectionery Market (2020-2026) | Value, COVID-19 IMPACT, Analysis, Companies, Outlook, Industry, Growth, Share, Trends, Forecast, Size & Revenue

Nigeria Sugar Confectionery Market is likely to witness substantial growth over the coming years primarily due to the introduction of pioneering flavors & healthy ingredients in sugar confectioneries and rising demand from middle-class consumers for sugar confectionery products. The growth of the retail market in the country is expected to drive the demand for sugar confectionery products in the near future. However, the spread of the COVID-19 virus is anticipated to impact the economic growth of the country, which would act as a hurdle in the growth of the Nigerian sugar confectionery market in 2020.

 According to 6Wresearch, Nigeria Sugar Confectionery Market is anticipated to register growth during 2020-2026. The increase in brand exposure of a wide variety of sugar confectionery products such as lollipops, marshmallows, gums, and toffees in the recent years and vending of sugar confectionery in the various retail centers such as hypermarkets, supermarkets, grocery stores, and forecourt retailers would create ample demand for the sugar confectionery products in the upcoming years.

By distribution channel, the retail channel accounts for a significant share in the Nigerian sugar confectionery market due to the growing footprint of brand SPAR in Nigeria. Moreover, the Real Estate Investment Trust (REIT) has come with an initiative to reduce the cost of rent for retailers and encourage the development of more functional malls across the country. Further, the Nigerian government is encouraging foreign investors to invest in Nigeria’s retail sector development program, and also providing long-term finance for the retail sector development which would bode well for the demand for sugar confectionery products in Nigeria in the years to come. In addition to this, the Federal Capital Territory Administration (FCTA) is planning multi-dollar modern shopping mall projects such as the Lagos mall project, Eko Mall project, and 6,102 hectares of the Constitution Avenue project. Thus, the expansion of the retail sector due to increasing private sector investments would support the growth of sugar confectionery market growth in Nigeria over the coming years.

The Nigeria Sugar Confectionery market report thoroughly covers the market by types, packaging types, distribution channels, and regions. Nigeria Sugar Confectionery market outlook report provides an unbiased and detailed analysis of the on-going Nigeria Sugar Confectionery market trends, opportunities/high growth areas, and market drivers which would help the stakeholders to devise and align their market strategies according to the current and future market dynamics.

 

The Nigeria sugar confectionery market is expected to register significant growth in the coming years backed by the rising participation of many foreign players in the market along with the evolution of advanced cooking options in the food industry in the country. an increase in the disposable income of the consumers in the country has led to a rise in the demand for premium and taste oriented variants and is expected to spur the sales of sugar confectionery in the country and is anticipated to leave a positive impact on the growth of the Nigeria sugar confectionery market in the upcoming six years and the timeframe thereafter. However, an increase in the number of diabetic patients in the country is expected to pose a threat to the market growth backed by an increase in the avoidance of such food. But, aggressive promotion and advertising by the makers of the product are expected to benefit the Nigerian sugar confectionery market serious headway towards a progressive growth in the coming timeframe.

Key Highlights of the Report:

• Nigeria Sugar Confectionery Market Overview
• Nigeria Sugar Confectionery Market Outlook
• Nigeria Sugar Confectionery Market Forecast
• Historical Data of Nigeria Sugar Confectionery Market Revenues for the Period 2016-2019
• Nigeria Sugar Confectionery Market Size & Sugar Confectionery Market Forecast of Revenues, Until 2026
• Historical Data of Nigeria Sugar Confectionery Market Revenues, By Types, for the Period 2016-2019
• Market Size & Forecast of Nigeria Sugar Confectionery Market Revenues, By Types, Until 2026
• Historical Data of Nigeria Sugar Confectionery Market Revenues, By Packaging Types, for the Period 2016-2019
• Market Size & Forecast of Nigeria Sugar Confectionery Market Revenues, By Packaging Types, Until 2026
• Historical Data of Nigeria Sugar Confectionery Market Revenues, By Distribution Channels, for the Period 2016-2019
• Market Size & Forecast of Nigeria Sugar Confectionery Market Revenues, By Distribution Channels, Until 2026
• Historical Data of Nigeria Sugar Confectionery Market Revenues, By Regions, for the Period 2016-2019
• Market Size & Forecast of Nigeria Sugar Confectionery Market Revenues, By Regions, Until 2026
• Market Drivers and Restraints
• Nigeria Sugar Confectionery Market Trends and Industry Life Cycle
• Porter’s Five Force Analysis and Market Opportunity Assessment
• Nigeria Sugar Confectionery Market Share, By Players
• Nigeria Sugar Confectionery Market Overview on Competitive Benchmarking
• Company Profiles
• Key Strategic Recommendations

Markets Covered

The Nigeria Sugar Confectionery Market report provides a detailed analysis of the following market segments:

• By Types
  • Pastilles
  • Jellies
  • Caramel & Toffees
  • Hard-Boiled Sweets
  • Medicated Confectionery
  • Mint
  • Gums
  • Others
    
    
• By Packaging Types
  • Sachet
  • Box
  • Others
    
    
• By Distribution Channels
  • Retail Stores
  • Online Stores
  • Others

Other Key Reports Available:

• Kenya Sugar Confectionery Market Report
• South Africa Sugar Confectionery Market Report

Frequently Asked Questions About the Market Study (FAQs):