Nigeria: Food Processing Ingredients
Nigeria’s food processing sector remains underdeveloped despite large market potential. The country depends on imports to meet its demand for quality processed foods. Industry sources indicate that activities in the sector had more than doubled within the last decade, with the sector growing to nearly $20 billion in sales in 2012. Despite high-cost production and poor infrastructure, there is increasing need for local food processors to differentiate their products in order to meet the growing tastes of the young and high-income consumers. Demand is high for imported intermediate foods and ingredients such as beverage bases and additives. Large multinational food processors such as Nestle, PZ Cussons, Olam, Tiger brands, OK Foods, etc, have continued to increase investment (especially through mergers and acquisitions) to exploit the opportunities in this sector. Post will assist interested U.S. food/ingredients suppliers in establishing business relationships with local buyers.