Best B2B Service Providers in Nigeria: Ken Research

Nigeria has been home to a numeral of the ancient and indigenous kingdoms and states over the millennia. Nigeria is often referred to as the “Giant of Africa” due to its great populace and economy. Nigeria has the third-largest youth populace across the globe, after China and India, with more than 90 million of its populace under age 18. Not only has this, but Nigeria is also the 12^th the wildest manufacturer of petroleum across the globe and the 8^th largest exporter, and has the 10^th greatest proven reserves.

According to the market research company in Nigeria, logistics is vigorous for the economic performance of any region. Nigeria has poor infrastructure and logistical issues along with the overdue convention processed and congestion on the roads. It is an import-based region and the region is dependent on the export of crude oil. Moreover, Nigeria was ranked 145 out of 190 regions during the recent past years in ease of doing business Index and ranks 112 in the Logistics Performance Index during the recent past. The growth in the Nigeria logistics market has been owing to the Infrastructural improvements in the Railways and Airways, development in foreign ties with several other regions and the effective increase in the e-commerce segment.

Nonetheless, the government of Nigeria and the private corporates are the underwriters for augmenting the requirement of the cold storages for the agricultural and pharmaceuticals drugs and medicines. The Lagos has been the commercial hub of the region and the most prime area in the terms of trade and logistics owing to the proximity to the foremost seaports, airports and the industrial parks in the region. On the basis of Market Research Firms in Nigeria, the market is stringently regulated by NAFDAC owing to the poor warehousing standards and the increasing trafficked goods in the market. The growing automation technology along with the more developed inventory management systems is predicted to support the positive growth of the warehousing sector.

By the courier, parcel and express logistics market, the boost of the e-commerce and easing of e-payment systems such as PIN-based debit cards, Paystack in Nigeria have augmented the requirement of the couriers and parcel market in the region. The effective increase in the prominence of the online shopping will also underwrite towards a long term growth for the Express Delivery Segment in the coming years. Furthermore, the growth of the e-commerce business has led to a junction of B2B and B2C traffic, with the parcel logistics delivers progressively embracing both to the service consumers’ Omnichannel supply chains.

Nonetheless, based on the Market Research Company in Nigeria, the Nigeria Warehousing market was evaluated to increase speedily during the review duration. The growth was majorly owing to the growth in the international trade volumes, market entry of the international companies, increasing the e-commerce market and building new manufacturing units and industries in Nigeria in order to create the region self-reliant. Not only has this, but the sustained efforts have also been taken by the government along with the Chinese legal authorities for improving the free trade zones locations and industrial parks in the region. Foremost investment by the foreign corporates has fueled the overall warehousing market in the region. Therefore, it is anticipated that in the coming years, the markets across Nigeria will increase more positively over the coming years.

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Best B2B Service Providers in Nigeria | Market Research Company in Nigeria: Ken Research

The baby food market in Nigeria is presently at an increasing stage. For instance, during the recent past decades, there was a slight decline owing to the recession in the region and the policies accepted by the government to promote breastfeeding, notwithstanding this market presented an overall positive trend during the review period. According to the Market Research industry Nigeria states that baby food industry in the country is fostered by the growing disposable income of the individual, growing awareness among the parents to give the healthier food to the babies, increase in the internet retailing among the several other aspects. The market is predicted to present an effective positive growth and pursue to improve in the coming future.

Furthermore, dependent on the Market Research Firms in Nigeria, the market of Nigeria Baby food is sectored into different sectors such as food category, region, and distribution channel. Whereas, the baby food market is registered by the dried baby food sector as it is more appropriate for the hectic mothers, who need to safeguard the daily intake of the nutrients of the baby is met frequently. This is followed by the Milk Formula baby food market, which actions as a substitute for mother’s milk especially for the mothers who cannot breastfeed their child due to the specific cause. Prepared baby food is the succeeding widespread sector in this market owing to the time embarrassed lifestyle of the millennial parents in the country.

Not only has this, the prepared baby foods are obtainable in the miscellaneous flavors and come in the groundbreaking packaging. The other baby food sector obtain the minimum market share in the region as it contains the food namely rusks, biscuits, and several other snacks such as items which are not much desired by the maternities for their infants for regular feeding.

In the Nigeria region, the South West section detentions the foremost market of the baby food largely owing to the Lagos being the central hub of the region. The consciousness-related such products in the Northern region is less as equated to the South in Nigeria. This is owing to the poverty and shortage of employment among the womenfolk in the Northern region. The market size is a contingent from region to region, based on the aspects namely personal disposable income, literacy rate, product availability and several others.

Based on the future outlook, the baby food market has an auspicious future in Nigeria region with a sophisticated implementation rate monitored during the review period. The foremost reasons for its growth would be, effective increase in the disposable income, growing consciousness among the parents to deliver the nutrition to the infant, and augmenting purchasing through the online portals. The increasing number of literate and salaried mothers will positively impact the requirement of baby food products in the country.