Edible oils is expected to perform well over the forecast period as the economy improves and disposable incomes and unit prices stabilise. Whilst the category has already reached quite a deep level of penetration amongst consumers, it still has good scope to grow as it is expected that more consumers will shift from unpackaged products to good quality, packaged products, which will be increasingly competitive as manufacturers adopt cost reducing measures.
Growth in competition as companies recover from the negative impact of high rates of inflation and a depreciated currency on their activities is expected to drive growth in edible oils over the forecast period. Strong competition had been key to driving growth over the review period (prior to 2020) and will also be an important factor in driving forecast growth.
Greater health awareness amongst the urban population will help to drive a good performance for edible oils over the forecast period. The largest category – other edible oils – sees marketing activities that promote health benefits relative to unpackaged oils, and with consumer disposable income rising along with greater concern for health in light of diet related diseases (such as type 2 diabetes and obesity), the category will benefit.
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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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