Inflationary pressures, stemming from the depreciation of the local currency, are expected to persist in the short term, posing ongoing challenges for the meals and soups category. Given its limited penetration and niche status, the category will require innovative strategies to navigate these obstacles.
As Nigeria’s economy stabilises and consumer spending power improves, the meals and soups category is poised for growth. The middle and upper classes, which constitute the primary consumer base for these products, are expected to expand, driven by economic recovery and rising formal employment.
Ready meals are expected to lead category growth over the forecast period, benefiting from increasing consumer awareness and a growing preference for convenient food solutions. As formal employment rises, urban households are likely to invest more in ready meals, particularly those that feature local dishes such as rice and traditional stews.
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Understand the latest market trends and future growth opportunities for the Meals and Soups 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 Meals and Soups 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.
Meals and Soups
This is the aggregation of ready meals, pizza, food kits, prepared salads, and soup. Includes: These are products that have had recipe 'skills' added to them by the manufacturer, resulting in a high degree of readiness, completion and convenience. Food kits is an exception where typically the extent of preparation is much shorter than other meal products; includes meal kits where consumers are to put together pre-portioned ingredients and cook with the guidance of recipe cards. Ready meals are generally accepted to be complete meals that require few or no extra ingredients. However, in the case of shelf stable ready meals, the term also encompasses meal 'centres’; for food kits, they do require a degree of cooking and preparation. As such, some meals may require cooking (ready-to-cook); others may simply need reheating, prior to serving (ready-to-eat). Excludes: Any products sold unpackaged and/or by weight, including food sold from a retail deli counter.
See all of our definitionsThis report originates from Passport, our Meals and Soups research and analysis database.
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