Plant-based dairy is expected to face ongoing challenges due to the continued weakness of the Nigerian currency against the US dollar, which will likely keep prices high and limit the consumer base. Despite these challenges, soy-based products offer an opportunity for more affordable alternatives compared to dairy drinks.
Despite the ongoing economic challenges, there is an expectation that Nigeria's economy will improve over the forecast period, creating opportunities for a recovery in the plant-based dairy category. As consumer affordability improves and employment rates increase, demand for plant-based dairy products could grow, particularly amongst consumers who seek lactose-free options or who follow vegan diets.
Over the forecast period, almond milk and other plant-based dairy products are expected to see the fastest growth within plant-based dairy. Although still niche, almond milk has strong growth potential due to its health benefits and novelty, which resonate with health-conscious consumers.
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Understand the latest market trends and future growth opportunities for the Plant-based Dairy 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 Plant-based Dairy 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.
Plant-based Dairy
This is the aggregation of plant-based milk, plant-based yoghurt and plant-based cheese. Please note that plant-based dairy products that are not milk, yoghurt or cheese are tracked under their core dairy categories (e.g. powder milk, margarine and spreads, coffee whiteners etc.)
See All of Our DefinitionsThis report originates from Passport, our Plant-based Dairy research and analysis database.
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