Nigeria Sugar Market Report and Forecast 2024-2032
Market Report I 2023-12-28 I 154 Pages I EMR Inc.
Nigeria Sugar Market Report and Forecast 2024-2032
Market Outlook
According to the report by Expert Market Research (EMR), the Nigeria sugar market is projected to grow at a CAGR of 3.5% between 2024 and 2032. Aided by the escalating demand across various sectors, the market is expected to grow significantly by 2032.
Sugar, primarily sourced from sugarcane and, to a lesser extent, sugar beet, is a staple commodity in Nigeria. It finds extensive use in households, food and beverage industries, and pharmaceuticals. In Nigeria, sugarcane cultivation and sugar production are crucial not only for domestic consumption but also for contributing to the country's economy.
One of the main drivers of the Nigeria sugar market growth is the burgeoning food and beverage industry. Sugar is a fundamental ingredient in numerous products, including confectioneries, baked goods, soft drinks, and juices. The growth of the urban population, coupled with increasing disposable incomes, has led to higher consumption of these sugar-laden products, subsequently propelling the demand for sugar.
Additionally, the growing fast food culture in urban centres has further spurred the consumption of sugar and sugar-containing products. This trend is closely tied to the lifestyle changes and the rising middle class in Nigeria, leading to increased demand for convenient and processed foods.
The pharmaceutical industry also contributes significantly to the surge in Nigeria sugar market demand. Sugar is commonly used as a flavour enhancer and a base for forming tablets and syrups in pharmaceuticals. With the growing healthcare sector and increasing awareness about health and wellness, the demand for pharmaceutical products is on the rise, indirectly boosting the sugar market.
Furthermore, sustainability concerns are increasingly coming to the forefront. Environmental issues associated with sugarcane cultivation, such as water usage, soil erosion, and pesticide application, are prompting stakeholders to explore sustainable farming practices and eco-friendly technologies.
The Nigeria sugar market also presents several prospects for growth and development. One such area is the untapped potential for ethanol production from sugarcane. Ethanol, used as a biofuel, offers an alternative revenue stream for sugar producers and aligns with global efforts towards renewable energy sources.
According to the Nigeria sugar market analysis, there are some significant opportunities for diversification. With growing health consciousness, there is an emerging demand for alternative sweeteners and low-calorie sugar variants. Catering to this niche market could open new avenues for growth for players in the Nigeria sugar industry.
Market Segmentation
The market can be divided based on product type, form, source, and end use.
Market Breakup by Product Type
- Brown
- White
Market Breakup by Form
- Granulated
- Powdered
- Syrup
Market Breakup by Source
- Sugar Beet
- Sugarcane
Market Breakup by End Use
- Food and Beverage
- Pharmaceuticals
- Personal Care
- Household
- Others
Competitive Landscape
The EMR report looks into the market shares, plant turnarounds, capacities, investments, and mergers and acquisitions, among other major developments, of the leading companies operating in the Nigeria sugar market. Some of the major players explored in the report by Expert Market Research are as follows:
- BUA Group
- Dangote Industries Limited
- FMN Plc.
- Graceco Ltd
- Dogan's Sugar Limited.
- Others
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*We at Expert Market Research always strive to provide you with the latest information. The numbers in the article are only indicative and may be different from the actual report.
1 Preface
2 Report Coverage - Key Segmentation and Scope
3 Report Description
3.1 Market Definition and Outlook
3.2 Properties and Applications
3.3 Market Analysis
3.4 Key Players
4 Key Assumptions
5 Executive Summary
5.1 Overview
5.2 Key Drivers
5.3 Key Developments
5.4 Competitive Structure
5.5 Key Industrial Trends
6 Market Snapshot
7 Opportunities and Challenges in the Market
8 Nigeria Sugar Market Analysis
8.1 Key Industry Highlights
8.2 Nigeria Sugar Historical Market (2018-2023)
8.3 Nigeria Sugar Market Forecast (2024-2032)
8.4 Nigeria Sugar Market by Product Type
8.4.1 Brown
8.4.1.1 Historical Trend (2018-2023)
8.4.1.2 Forecast Trend (2024-2032)
8.4.2 White
8.4.2.1 Historical Trend (2018-2023)
8.4.2.2 Forecast Trend (2024-2032)
8.5 Nigeria Sugar Market by Form
8.5.1 Granulated
8.5.1.1 Historical Trend (2018-2023)
8.5.1.2 Forecast Trend (2024-2032)
8.5.2 Powdered
8.5.2.1 Historical Trend (2018-2023)
8.5.2.2 Forecast Trend (2024-2032)
8.5.3 Syrup
8.5.3.1 Historical Trend (2018-2023)
8.5.3.2 Forecast Trend (2024-2032)
8.6 Nigeria Sugar Market by Source
8.6.1 Sugar Beet
8.6.1.1 Historical Trend (2018-2023)
8.6.1.2 Forecast Trend (2024-2032)
8.6.2 Sugarcane
8.6.2.1 Historical Trend (2018-2023)
8.6.2.2 Forecast Trend (2024-2032)
8.7 Nigeria Sugar Market by End Use
8.7.1 Food and Beverage
8.7.1.1 Historical Trend (2018-2023)
8.7.1.2 Forecast Trend (2024-2032)
8.7.2 Pharmaceuticals
8.7.2.1 Historical Trend (2018-2023)
8.7.2.2 Forecast Trend (2024-2032)
8.7.3 Personal Care
8.7.3.1 Historical Trend (2018-2023)
8.7.3.2 Forecast Trend (2024-2032)
8.7.4 Household
8.7.4.1 Historical Trend (2018-2023)
8.7.4.2 Forecast Trend (2024-2032)
8.7.5 Others
9 Market Dynamics
9.1 SWOT Analysis
9.1.1 Strengths
9.1.2 Weaknesses
9.1.3 Opportunities
9.1.4 Threats
9.2 Porter's Five Forces Analysis
9.2.1 Supplier's Power
9.2.2 Buyer's Power
9.2.3 Threat of New Entrants
9.2.4 Degree of Rivalry
9.2.5 Threat of Substitutes
9.3 Key Indicators for Demand
9.4 Key Indicators for Price
10 Value Chain Analysis
11 Trade Data Analysis
11.1 Major Importing Countries
11.1.1 By Volume
11.1.2 By Value
11.2 Major Exporting Countries
11.2.1 By Volume
11.2.2 By Value
12 Price Analysis
13 Manufacturing Process
13.1 Overview
13.2 Detailed Process Flow
13.3 Operations Involved
14 Competitive Landscape
14.1 Market Structure
14.2 Company Profiles
14.2.1 BUA Group
14.2.1.1 Company Overview
14.2.1.2 Product Portfolio
14.2.1.3 Demographic Reach and Achievements
14.2.1.4 Certifications
14.2.2 Dangote Industries Limited
14.2.2.1 Company Overview
14.2.2.2 Product Portfolio
14.2.2.3 Demographic Reach and Achievements
14.2.2.4 Certifications
14.2.3 FMN Plc.
14.2.3.1 Company Overview
14.2.3.2 Product Portfolio
14.2.3.3 Demographic Reach and Achievements
14.2.3.4 Certifications
14.2.4 Graceco Ltd
14.2.4.1 Company Overview
14.2.4.2 Product Portfolio
14.2.4.3 Demographic Reach and Achievements
14.2.4.4 Certifications
14.2.5 Dogan's Sugar Limited.
14.2.5.1 Company Overview
14.2.5.2 Product Portfolio
14.2.5.3 Demographic Reach and Achievements
14.2.5.4 Certifications
14.2.6 Others
15 Key Trends and Developments in the Market
List of Key Figures and Tables
1. Nigeria Sugar Market: Key Industry Highlights, 2018 and 2032
2. Nigeria Sugar Historical Market: Breakup by Product Type (USD Million), 2018-2023
3. Nigeria Sugar Market Forecast: Breakup by Product Type (USD Million), 2024-2032
4. Nigeria Sugar Historical Market: Breakup by Form (USD Million), 2018-2023
5. Nigeria Sugar Market Forecast: Breakup by Form (USD Million), 2024-2032
6. Nigeria Sugar Historical Market: Breakup by Source (USD Million), 2018-2023
7. Nigeria Sugar Market Forecast: Breakup by Source (USD Million), 2024-2032
8. Nigeria Sugar Historical Market: Breakup by End Use (USD Million), 2018-2023
9. Nigeria Sugar Market Forecast: Breakup by End Use (USD Million), 2024-2032
10. Major Exporting Countries by Value
11. Major Importing Countries by Value
12. Major Exporting Countries by Volume
13. Major Importing Countries by Volume
14. Nigeria Sugar Market Structure
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