Market Forecast By Types (Pastilles, Jellies, Caramel & Toffees, Hard-Boiled Sweets, Medicated Confectionery, Mint, Gums, Others (marshmallows, nougat, lollipops, licorice, etc.)), By Packaging Types (Sachet, Box & Others), By Distribution Channels (Retail Stores, Online Stores & Others) and competitive landscape
Product Code: ETC002437 | Publication Date: Apr 2020 | Updated Date: Oct 2023 | Product Type: Report | |
Publisher: 6Wresearch | No. of Pages: 70 | No. of Figures: 35 | No. of Tables: 5 | |
Nigeria Sugar Confectionery Market registered a growth of 3.38% in value shipments in 2021 as compared to 2020 and an increase of 10.68% CAGR in 2021 over a period of 2017. In Sugar Confectionery Market Nigeria is becoming more competitive as the HHI index in 2021 was 1460 while in 2017 it was 3613. Herfindahl Index measures the competitiveness of exporting countries. The range lies from 0 to 10000, where a lower index number represents a larger number of players or exporting countries in the market while a large index number means less numbers of players or countries exporting in the market.
Nigeria has reportedly relied more on imports to meet its growing demand in Sugar Confectionery Market. India is unable to meet its increasing needs of this product with domestic production hence we see the trend is shifting towards import shipment to meet its demand The import factor of Sugar Confectionery Market in 2021 was 6.15 while in 2017 it was 2.82. China, Colombia, Togo, Vietnam and India were among the top players of the market in 2021, where China acquired the largest market share of 23.83% with a shipment value of 1.53 million USD in 2022 China also offered the product below the average market price thus having a competitive advantage over others In 2017 China had the largest market share of 58.67% with the shipment value of 2.19 million USD. The country was offering its product with an average price which is lower than the average market price offered in the country. As China price is lower than the average price, it provided a significant edge among other competitor in 2017.
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:
Markets Covered
The Nigeria Sugar Confectionery Market report provides a detailed analysis of the following market segments:
Other Key Reports Available:
1. Executive Summary |
2. Introduction |
2.1. Report Description |
2.2. Key Highlights |
2.3. Market Scope & Segmentation |
2.4. Research Methodology |
2.5. Assumptions |
3. Nigeria Sugar Confectionery Market Overview |
3.1. Nigeria Sugar Confectionery Market Revenues, 2016-2026F |
3.2. Nigeria Sugar Confectionery Market – Industry Life Cycle |
3.3. Nigeria Sugar Confectionery Market – Porter’s Five Forces |
3.4. Nigeria Sugar Confectionery Market Revenue Share, By Packaging Types, 2019 & 2026F |
3.5. Nigeria Sugar Confectionery Market Revenue Share, By Types, 2019 & 2026F |
3.6. Nigeria Sugar Confectionery Market Revenue Share, By Distribution Channels, 2019 & 2026F |
3.7. Nigeria Sugar Confectionery Market Revenue Share, By Regions, 2019 & 2026F |
4. Nigeria Sugar Confectionery Market Dynamics |
4.1. Impact Analysis |
4.2. Market Drivers |
4.3. Market Restraints |
5. Nigeria Sugar Confectionery Market Trends |
6. Nigeria Sugar Confectionery Market Overview, By Packaging Types |
6.1. Nigeria Sachet Packaging Sugar Confectionery Market Revenues, 2016-2026F |
6.2. Nigeria Box Packaging Sugar Confectionery Market Revenues, 2016-2026F |
6.3. Nigeria Others Packaging Sugar Confectionery Market Revenues, 2016-2026F |
7. Nigeria Sugar Confectionery Market Overview, By Types |
7.1. Nigeria Pastilles Sugar Confectionery Market Revenues, 2016-2026F |
7.2. Nigeria Gums Sugar Confectionery Market Revenues, 2016-2026F |
7.3. Nigeria Jellies Sugar Confectionery Market Revenues, 2016-2026F |
7.4. Nigeria Caramel & Toffees Sugar Confectionery Market Revenues, 2016-2026F |
7.5. Nigeria Hard-Boiled Sweets Sugar Confectionery Market Revenues, 2016-2026F |
7.6. Nigeria Medicated Sugar Confectionery Market Revenues, 2016-2026F |
7.7. Nigeria Mint Sugar Confectionery Market Revenues, 2016-2026F |
7.8. Nigeria Other Sugar Confectionery Market Revenues, 2016-2026F |
8. Nigeria Sugar Confectionery Market Overview, By Distribution Channels |
8.1. Nigeria Sugar Confectionery Market Revenues, By Retail Stores, 2016-2026F |
8.2. Nigeria Sugar Confectionery Market Revenues, By Online Stores, 2016-2026F |
8.3. Nigeria Sugar Confectionery Market Revenues, By Other Distribution Channels, 2016-2026F |
9. Nigeria Sugar Confectionery Market Overview, By Regions |
10. Nigeria Sugar Confectionery Market Key Performance Indicators |
11. Nigeria Sugar Confectionery Market Opportunity Assessment |
11.1. Nigeria Sugar Confectionery Market Opportunity Assessment, By Packaging Types, 2026F |
11.2. Nigeria Sugar Confectionery Market Opportunity Assessment, By Types, 2026F |
11.3. Nigeria Sugar Confectionery Market Opportunity Assessment, By Distribution Channels, 2026F |
12. Nigeria Sugar Confectionery Market Competitive Landscape |
12.1. Nigeria Sugar Confectionery Market Revenue Share, By Company, 2019 |
12.2. Nigeria Sugar Confectionery Market Competitive Benchmarking, By Technical Parameters |
13. Company Profiles |
14. Recommendations |
15. Disclaimer |