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Nigeria Refined Sugar Market Size, Share, Trends, Growth: By Product Type: Brown, White; By Form: Granulated, Powdered, Syrup; By Source: Sugar Beet, Sugarcane; By End Use: Food and Beverage, Pharmaceuticals, Personal Care, Household, Others; Market Dynamics: SWOT Analysis; Competitive Landscape; 2024-2032
Nigeria Refined Sugar Market Growth
Nigeria is the second largest sugar market in Sub-Saharan Africa, following South Africa. As of July 2023, an estimated 1.6 million metric tons of refined sugar is produced each year in Nigeria.
The primary purpose of growing and processing sugarcane in Nigeria is sugar production. There are about 800,000 hectares of potentially fertile land in Nigeria that can be used to grow sugar cane, especially along the whole length and breadth of the Niger and Benue Rivers. The Nigerian government encourages smallholder farmers to produce sugarcane for sugar mills. Savannah Sugar and Oyo Sugar-cane Processors are two prominent outgrower organisations in Nigeria.
Nigeria's bakery products market is expected to grow due to increasing demand for ready-to-eat foods driven by hectic work schedules, as well as rising interest in gluten-free, high-fiber, and trans-fat-free baked goods. An average bakery product, such as bread, generally contains 4 grams of sugar, and a single pastry or a slice of cake can contain around 10 to 30 grams of refined sugar.
The key factors contributing to Nigeria’s economic growth include the output of the manufacturing sector, oil revenue, and health expenditures, among others. The production of the manufacturing sector is positively and significantly correlated with GDP growth, demonstrating the industry's beneficial effects on the economy.
Nigeria Refined Sugar Market Report Snapshots
Nigeria Refined Sugar Market Size
Nigeria Refined Sugar Market Growth
Nigeria Refined Sugar Market Trends
Nigeria Refined Sugar Market Share
Nigeria Refined Sugar Companies
*While we strive to always give you current and accurate information, the numbers depicted on the website are indicative and may differ from the actual numbers in the main report. At Expert Market Research, we aim to bring you the latest insights and trends in the market. Using our analyses and forecasts, stakeholders can understand the market dynamics, navigate challenges, and capitalize on opportunities to make data-driven strategic decisions.
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 Industry Outlook
8.1 Sugarcane Producing Regions in Nigeria
8.2 Sugar Projects Under the National Sugar Master Plan
8.3 Overview of Bakery Sector in Nigeria
8.4 Seven Upcoming Trends in Nigerian Economy
9 Nigeria Refined Sugar Market Overview
9.1 Key Industry Highlights
9.2 Nigeria Refined Sugar Historical Market (2018-2023)
9.3 Nigeria Refined Sugar Market Forecast (2024-2032)
10 Nigeria Refined Sugar Market by Product Type
10.1 Brown
10.1.1 Historical Trend (2018-2023)
10.1.2 Forecast Trend (2024-2032)
10.2 White
10.2.1 Historical Trend (2018-2023)
10.2.2 Forecast Trend (2024-2032)
11 Nigeria Refined Sugar Market by Source
11.1 Sugar Beet
11.1.1 Historical Trend (2018-2023)
11.1.2 Forecast Trend (2024-2032)
11.2 Sugarcane
11.2.1 Historical Trend (2018-2023)
11.2.2 Forecast Trend (2024-2032)
12 Nigeria Refined Sugar Market by End Use
12.1 Food and Beverage
12.1.1 Historical Trend (2018-2023)
12.1.2 Forecast Trend (2024-2032)
12.2 Pharmaceuticals
12.2.1 Historical Trend (2018-2023)
12.2.2 Forecast Trend (2024-2032)
12.3 Dairy
12.3.1 Historical Trend (2018-2023)
12.3.2 Forecast Trend (2024-2032)
12.4 Bakery and Confectionery
12.4.1 Historical Trend (2018-2023)
12.4.2 Forecast Trend (2024-2032)
12.5 Soft Drinks
12.5.1 Historical Trend (2018-2023)
12.5.2 Forecast Trend (2024-2032)
12.6 Household
12.6.1 Historical Trend (2018-2023)
12.6.2 Forecast Trend (2024-2032)
12.7 Others
13 Market Dynamics
13.1 SWOT Analysis
13.1.1 Strengths
13.1.2 Weaknesses
13.1.3 Opportunities
13.1.4 Threats
13.2 Porter’s Five Forces Analysis
13.2.1 Supplier’s Power
13.2.2 Buyer’s Power
13.2.3 Threat of New Entrants
13.2.4 Degree of Rivalry
13.2.5 Threat of Substitutes
13.3 Key Indicators for Demand
13.4 Key Indicators for Price
14 Value Chain Analysis
15 Price Analysis
16 Manufacturing Process
16.1 Overview
16.2 Detailed Process Flow
16.3 Operations Involved
17 Competitive Landscape
17.1 Market Structure
17.2 Market Share of Leading Players
17.3 Company Profiles
17.3.1 BUA Group
17.3.1.1 Company Overview
17.3.1.2 Product Portfolio
17.3.1.3 Demographic Reach and Achievements
17.3.1.4 Certifications
17.3.1.5 SWOT Analysis
17.3.2 Dangote Industries Limited
17.3.2.1 Company Overview
17.3.2.2 Product Portfolio
17.3.2.3 Demographic Reach and Achievements
17.3.2.4 Certifications
17.3.2.5 SWOT Analysis
17.3.3 FMN Plc.
17.3.3.1 Company Overview
17.3.3.2 Product Portfolio
17.3.3.3 Demographic Reach and Achievements
17.3.3.4 Certifications
17.3.3.5 SWOT Analysis
17.3.4 Graceco Ltd
17.3.4.1 Company Overview
17.3.4.2 Product Portfolio
17.3.4.3 Demographic Reach and Achievements
17.3.4.4 Certifications
17.3.4.5 SWOT Analysis
17.3.5 Dogan's Sugar Limited.
17.3.5.1 Company Overview
17.3.5.2 Product Portfolio
17.3.5.3 Demographic Reach and Achievements
17.3.5.4 Certifications
17.3.5.5 SWOT Analysis
17.3.6 Others
18 Key Trends and Developments in the Market
List of Key Figures and Tables
1. Nigeria Refined Sugar Market: Key Industry Highlights, 2018 and 2032
2. Nigeria Refined Sugar Historical Market: Breakup by Product Type (USD Million), 2018-2023
3. Nigeria Refined Sugar Market Forecast: Breakup by Product Type (USD Million), 2024-2032
4. Nigeria Refined Sugar Historical Market: Breakup by Source (USD Million), 2018-2023
5. Nigeria Refined Sugar Market Forecast: Breakup by Source (USD Million), 2024-2032
6. Nigeria Refined Sugar Historical Market: Breakup by End Use (USD Million), 2018-2023
7. Nigeria Refined Sugar Market Forecast: Breakup by End Use (USD Million), 2024-2032
8. Major Exporting Countries by Value
9. Major Importing Countries by Value
10. Major Exporting Countries by Volume
11. Major Importing Countries by Volume
12. Nigeria Refined Sugar Market Structure
Key Questions Answered in the Report
In 2023, the Nigeria refined sugar market reached a value of USD 1,835.11 million.
The market is estimated to grow at a CAGR of 5.19% during 2024-2032.
The market is estimated to witness a healthy growth in the forecast period of 2024-2032 to reach a value of USD 2,619.81 million by 2032.
The factors driving the market growth are favourable government initiatives supporting the production of sugar, expanding food and beverage sector, rising consumption of dairy products and baked goods, and increasing population in Nigeria.
The end uses include food and beverage, pharmaceuticals, dairy, bakery and confectionery, and household, among others.
Sugarcane and sugar beet are the two sources of refined sugar.
White sugar and brown sugar are the two types as per the market report.
The key players in the market include BUA Group, Dangote Industries Limited, FMN Plc, Graceco Limited, and Dogan's Sugar Limited, among others.
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