The demand for infant food in Nigeria has remained relatively stable between 2014 and 2017, each year maintaining a volume of 7.0 thousand metric tons. However, a noticeable dip occurred in 2018, with a decrease to 6.0 thousand metric tons, continuing to 2019. The demand sharply declined further in 2020 to 4.98 thousand metric tons, a significant 17% year-on-year drop. This decline saw a partial recovery in 2021 and subsequent years, stabilizing at 6.0 thousand metric tons through 2023.
From 2024 onwards, a gradual decreasing trend is forecasted, with values expected to reach 5.65 thousand metric tons by 2028, representing a compound annual growth rate (CAGR) of -0.88% over the next five years. Notably, the last five years have shown an average annual demand change of 0%, implying a stagnant market during this period.
Key future trends to watch for include economic conditions, shifts in demographic patterns, and potential changes in consumer preferences towards alternative infant nutrition products. Additionally, regulatory policies and healthcare improvements could influence future demand patterns significantly.
