The volume of infant food imports in Nigeria displayed fluctuations between 2014 and 2023, peaking at 8.0 thousand metric tons in 2017 and hitting a low of 4.98 thousand metric tons in 2020. After a drop in 2018, the market steadied at around 6.0 thousand metric tons from 2019 to 2023. The year-on-year variations and CAGR indicate a volatile market, with a recent stabilization. Notably, the 5-year CAGR stands at 3.71% as of 2023.
Forecasts suggest a slight decline from 5.96 thousand metric tons in 2024 to 5.88 thousand metric tons in 2028, reflecting a negative CAGR of -0.28% and a forecast 5-year growth rate of -1.41%.
Future trends to watch for:
- Potential impact of local production capacity on import volumes.
- Changing consumer preferences towards domestically produced versus imported infant food.
- Economic factors influencing purchasing power and import capability.
