Food Processing Industry Expansion in Nigeria
- The Trade Adviser
- Oct 30, 2024
- 1 min read
Updated: Jun 5
The food processing industry in Nigeria is growing rapidly, presenting both challenges and opportunities. As the population increases and the demand for processed foods rises, it's essential to understand the current trends, key players, and the obstacles that this industry faces. This article will explore these aspects and provide insights into the future of food processing in Nigeria.
Key Takeaways
The food processing sector contributes about 5% to Nigeria's GDP and represents over 22% of the manufacturing industry.
Small and medium-sized enterprises (SMEs) dominate the market, while international brands also play a significant role.
Challenges include infrastructure issues, high operating costs, and competition from imported brands.
There are significant opportunities for growth, especially in export and investment from foreign companies.
Consumer preferences are shifting towards healthier and packaged food options, influenced by urbanization and changing lifestyles.
