The edible oils category is expected to continue facing significant challenges over the forecast period, particularly in the early years, as high unit prices persist due to ongoing currency depreciation. This economic reality will likely compel manufacturers to maintain their focus on affordability strategies.
The anticipated economic recovery during the forecast period is likely to create robust growth opportunities for edible oils, which remain a staple for Nigeria's expanding population. As consumer affordability improves, there is expected to be a gradual shift away from the frugality that has characterised recent years.
Among the various subcategories, olive oil is expected to exhibit the fastest growth over the forecast period, albeit from a low base. Previously hindered by steep unit price increases and limited accessibility, olive oil is predicted to gain traction as economic conditions improve and consumers develop a stronger preference for oils associated with Westernisation and health benefits.
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Understand the latest market trends and future growth opportunities for the Edible Oils industry in Nigeria with research from Euromonitor International's team of in-country analysts – experts by industry and geographic specialisation.
Key trends are clearly and succinctly summarised alongside the most current research data available. Understand and assess competitive threats and plan corporate strategy with our qualitative analysis, insight and confident growth projections.
Data and analysis in this report provides further detailed coverage dedicated to a comprehensive range of core packaged food categories.
If you're in the Edible Oils industry in Nigeria, our research will help you to make informed, intelligent decisions; to recognise and profit from opportunity, or to offer resilience amidst market uncertainty.
Edible Oils
This is the aggregation of olive oil and vegetable and seed oil (which comprises of corn oil, palm oil, rapeseed oil, soy oil, sunflower oil, and other edible oil). Please note blended oil that contain over 50% of one type of oil are categorised in that category, e.g. blended oil with 60% soy oil is categorised in soy oil; whereas blended oils with less than 50% of a specific type of oil are categorised in other edible oil. Includes: Pre-packaged edible oils products purchased by consumers through legally established retail channels. Excludes: Unpackaged/bulk oils, i.e. instances where consumers bring an empty container or plastic bag to be (re)filled with cooking oil. Example: Minyak curah in Indonesia.
See all of our definitionsThis report originates from Passport, our Edible Oils research and analysis database.
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