Category

Nigeria Plant Protein Market Size, Share, Opportunities, And Trends By Source (Pea, Rapeseed, Soy, Hempseed, Others), By Form (Protein Concentrates, Protein Isolates, Protein Hydrolysate), By Application (Dietary Supplement, Food, And Beverages, Pharmaceuticals, Animal Feed), By Distribution Channel (Online, Offline) - Forecasts From 2020 To 2025

Published: Mar 2020 | Report Code:  KSI061613346 | Pages:  95

Nigeria plant protein market is projected to attain a market size of US$37.695 million in 2025. As per the National Library of Medicine (NLM), approximately 65 percent of the human population has a reduced ability to digest lactose after infancy. Lactose intolerance is also very common in people of West African decent among others. This is one of the aspects that is poised to drive the Nigerian plant protein market growth. It is because the more the health-conscious consumers turn away from traditional milk the more is the requirement for plant-based beverages to fortify the products with essential micronutrients like proteins. To this the need for plant-based protein ingredients creates an opportunity for the same catapulting the plant-based micronutrient in Nigeria to a new zenith. Also, Nigeria is transitioning to a more capable economy that is giving the Nigerian consumers a wide array of options that creates an opportune moment for plant alternatives companies to make certain strategic decisions in the market. There is also ongoing research to harness the protein rich cassava leave which the country is abundant in.

Other than the aspect of lactose intolerance, the rationale for the changing dietary patterns in today’s world is the perception of millennials about food consumption.The resultant effort is to reduce pharmaceutical intervention and adhere to consumption that caters to the functional benefits and resonates with the ethical values which they are increasingly associating themselves with. Further, the increasing availability of convenience snacking, consumption of sugary beverages and ordering take away have led to health concerns and led to a rise in non-communicable health problems. To address these concerns, the consumers of today’s generation in Nigeria are switching to a vegan lifestyle that caters to both their nutritional and taste requirement. Further, the culture of physical fitness is also making consumers of Nigeria increasingly adopt a lifestyle that is giving rise to the growth of sport nutrition sector. Further, with companies like Nigeria’s first vegan food company Veggie Factory that has become trend setter of sorts among a niche vegan crowd is expected to fuel the pant-based protein markets during the forecast period. Therefore, the aforesaid factors paving the way for an increasing adoption of plant-based nutrients by the secondary market of plant-based food and beverage. Nevertheless, the establishment of supermarkets everywhere and the rise in disposable income has led to an increase in meat consumption, and along with low awareness are a few restraining factors that is expected deter the growth of the plant based protein market in Nigeria during the forecast period.

Segmentation

  • By Source
    • Pea
    • Rapeseed
    • Soy
    • Hempseed
    • Others
  • By Form
    • Protein Concentrates
    • Protein Isolates
    • Protein Hydrolysate
  • By Application
    • Dietary Supplement
    • Food and Beverages
    • Pharmaceuticals
    • Animal Feed
  • By Distribution Channel
    • Online
    • Offline

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