New Food market report from Euromonitor International: "Noodles in the Netherlands"
Boston, MA -- (SBWIRE) -- 02/11/2015 -- The volume and value growth of noodles in Nigeria continues to be strong, despite an already strong range of brands and relative maturity. Apart from population growth and the convenience trend, stiff competition between the makers of the traditionally dominant brand, Indomie, and other players, helped continue to drive strong growth in noodles. Most companies engage in aggressive marketing of brands through advertisement, promotional sales, introduction of new flavours, brand repackaging, and strong distribution efforts. Newer brands continue to enter the market, including now regional or small local brands, indicating that there is a possibility that given the strong sales, there is scope for many more brands in the market. New, expensive, types of noodles, such as cups/bowl instant noodles, are also more prevalent, particularly in modern retail channels.
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De-United Foods controls the noodles category with a 71% value share because of its first-mover status and longstanding acceptance in the consumer market. Constant introductions of new flavours and increasing the target range of its consumers, such as the Hungry Man Size to cater for adults, keeps the Indomie brand fresh. The company takes distribution and visibility very seriously ? with regular prizes given to the best performing distributors and ubiquitous signage with the Indomie brand name across the country.
During the forecast period, noodles should see a value CAGR of 6% at constant 2014 prices. With an increase in population fuelling demand, companies would improve on their marketing strategies while including the older generation of consumers as part of their target consumers. Desire for a quick, convenient and affordable meal by time-stressed adults (and their children) will drive demand. Noodles is now a meal favoured by many adults and children in Nigeria and can withstand the pressure posed by its close substitutes like rice and pasta, because the prices of such substitutes are generally higher and they go through processes requiring complements to become whole meals.
Discover the latest market trends and uncover sources of future market growth for the Noodles industry in Nigeria with research from Euromonitor's team of in-country analysts.
Find hidden opportunities in the most current research data available, understand competitive threats with our detailed market analysis, and plan your corporate strategy with our expert qualitative analysis and growth projections.
If you're in the Noodles industry in Nigeria, our research will save you time and money while empowering you to make informed, profitable decisions.
The Noodles in Nigeria market research report includes:
- Analysis of key supply-side and demand trends
- Detailed segmentation of international and local products
- Historic volumes and values, company and brand market shares
- Five year forecasts of market trends and market growth
- Robust and transparent market research methodology, conducted in-country
Our market research reports answer questions such as:
- What is the market size of Noodles in Nigeria?
- What are the major brands in Nigeria?
- Are consumers in emerging markets moving from unpackaged to packaged noodles?
- As consumers increasingly demand convenience, how will this impact sales for instant noodles?
Reasons to Get this Report
- Gain competitive intelligence about market leaders
- Track key industry trends, opportunities and threats
- Inform your marketing, brand, strategy and market development, sales and supply functions
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