The Grocery Retail Market in Nigeria
This report analyzes the grocery retail market in Nigeria. It is the largest and, until 2015, the second fastest growing grocery retail market in Africa. This report gives in depth historic data and five year forecasts on the growth of the grocery retail market. The report is split into chapters looking at the changing retail landscape, the underlying market dynamics powering growth, the market size and the leading supermarket chains, and the future outlook – for supermarket retailing, online grocery retail and out-of-town grocery retail.
Despite its size, the Nigerian grocery retail market is among the most fragmented in Sub Saharan Africa. In a country of more than 180m people, the largest supermarket chain has just 34 stores. Few chains have branches in multiple cities. The traditional trade dominates retail. Although some international grocers have entered – notably Shoprite and Massmart – there are many more waiting in the wings who have expressed an intention to open stores in Nigeria.
Assess the key drivers of grocery retail market growth in Nigeria and their impact on spending
Quantify the size of the Nigerian grocery retail market and the role of modern trade in it
Identify the leading supermarket chains, the size of their networks and their position in the market
Understand the future of the grocery retail market and the factors that will shape market success
Forecast grocery retail spend through to 2020
By 2050, Nigeria’s population will have risen by two and a half times, from 183.5m people in 2015 to 440.4m. It will be, by far, the single largest market in Africa and either the third or fourth largest country in the world by population in 2050.
By 2025, it will have nearly twenty cities with populations over 1m people and by 2050 an additional 200m people will be living in urban areas, within easier reach of retailers and service providers.
Nigeria’s grocery market is more than double the size of the next largest grocery retail market in Africa (South Africa). Its rapid growth through to 2015 has made Nigeria the second fastest growing grocery retail market in Africa.
Despite this, the grocery retail landscape is extremely fragmented. The country’s biggest grocery retail chain by store numbers has just 34 branches. Those stores are almost all in Lagos.
While domestic retailers are growing, at least three further international retailers have are looking to enter the Nigerian market. Within the next 2-3 years we see acquisition as a gamechanger and potentially a major shake up in the grocery retail market landscape.
What are the key drivers of grocery retail market growth?
What is the size of the grocery retail market
Who are the leading supermarket chains?
Which factors will shape market success?
What are the implications for brand owners?
How will grocery retail spend growth through to 2020?
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