Nigeria Flexible Packaging Market Size (2024 - 2029)

The Nigerian flexible packaging market is poised for growth, driven by the expanding e-commerce sector and the increasing demand for packaging solutions across various industries, including food processing, cosmetics, and household care. The retail food industry and the burgeoning foodservice sector, despite challenges like the COVID-19 pandemic, are significant contributors to the market's expansion. However, the market's growth is somewhat hindered by the scarcity and rising costs of raw materials. The recovery of the manufacturing sector post-pandemic has positively influenced the market, while geopolitical events like the Russia-Ukraine war have also impacted the packaging ecosystem.

Market Size of Nigeria Flexible Packaging Industry

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Nigeria Flexible Packaging Market Summary
Study Period 2019 - 2029
Base Year For Estimation 2023
Forecast Data Period 2024 - 2029
Historical Data Period 2019 - 2022
CAGR 4.60 %
Market Concentration Low

Major Players

Nigeria Flexible Packaging Market Major Players

*Disclaimer: Major Players sorted in no particular order

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Nigeria Flexible Packaging Market Analysis

The Nigerian flexible packaging market is expected to grow at a CAGR of 4.6% over the forecast period. Nigeria's demand for packaging solutions is driven by the expanding e-commerce sector, which is anticipated to rise due to the rising population, consumer spending, and increasing technology penetration.

  • The growth of the e-commerce industry is driving packaging activities, especially as it continues to attract investments due to the increase of several end-user industries, such as the food processing industry, cosmetics, household care, etc.
  • The growth of the food retail industry in Nigeria will likely drive the demand for flexible packaging. According to the United States Department of Agriculture, the retail food industry of Nigeria was anticipated to exceed USD 20 billion by 2022, accounting for 16.4% of Nigeria's GDP. Further, many consumers are gradually shifting towards supermarkets and convenience stores, stimulating market growth.
  • Furthermore, Nigeria's foodservice sector has been growing despite overwhelming challenges, including the COVID-19 pandemic. The growing number of local and international franchises operating in major cities across the country and the vast consumer base with an increasingly youthful and urban population represent growth opportunities in the market. However, the lack of availability of raw materials and increasing raw material prices are restricting the growth of the flexible packaging market in Nigeria.
  • Several international players have been expanding their operations in the country to expand their consumer base. For instance, in March 2021, UFlex Limited, one of the leading manufacturers of polymer sciences, commissioned its BOPET film manufacturing plant in the Ogun State of Nigeria with a production capacity of 45,000 TPA.
  • Due to pandemic restrictions, the disruption in the supply chain halted the manufacturing activities of different end-user industries in Nigeria, resulting in lower production rates across the industries. In contrast, development activities increased in the manufacturing sector of Nigeria following the lifting of restrictions occasioned by the COVID-19 pandemic during the year 2021. According to the National Bureau of Statistics, manufacturing investment in Nigeria surged 157.4% to NGN 305.02 billion in 2021 from NGN 118.51 billion in 2020, signaling a recovery in the sector. The growth in the manufacturing activities in the country is positively impacting the flexible packaging market in Nigeria from the various end-user industries. Further, the Russia-Ukraine war has an impact on the overall packaging ecosystem.

Nigeria Flexible Packaging Industry Segmentation

The study on the Nigerian flexible packaging market tracks the demands for material types such as plastic, paper, and metal. It also studies the market size in terms of revenue for the respective end-user industry verticals in the country from the listed product types. The impact of COVID-19 on the country's flexible packaging market is considered based on the prevalent base scenarios and demand cycles related to end-user verticals. 

The Nigerian flexible packaging market is segmented by material (paper, plastic, and metal), by product type (bags and pouches, films and wraps, and other product types), by end-user industry (food, beverage, healthcare and pharmaceutical, and others end-user industries). The market sizes and forecasts are provided in terms of value (USD million) for all the above segments. 

By Material
Paper
Plastic
Metal
By Product Type
Bags and Pouches
Films and Wraps
Other Product Types
By End-user Industry
Food
Beverage
Healthcare and Pharmaceutical
Others End-user Industries
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Nigeria Flexible Packaging Market Size Summary

The Nigerian flexible packaging market is poised for growth, driven by the burgeoning e-commerce sector and the expanding food retail industry. The rise in consumer spending, urbanization, and technology penetration are key factors propelling the demand for packaging solutions. The food processing, cosmetics, and household care industries are significant end-users contributing to this demand. Despite challenges such as the COVID-19 pandemic and supply chain disruptions, the market is witnessing a recovery, with increased manufacturing activities and investments. The presence of international players expanding their operations in Nigeria further underscores the market's potential. However, challenges like the scarcity of raw materials and rising costs pose constraints to market growth.

The market landscape is characterized by fragmentation, with numerous players engaging in strategic activities like mergers, acquisitions, and capacity expansions to maintain competitiveness. The growth of the foodservice sector, driven by local and international franchises, and the increasing shift towards supermarkets and convenience stores, are additional factors bolstering the market. The involvement of agrifood tech startups and the rising demand for sustainable packaging solutions present further opportunities for flexible packaging vendors. Key market players, including Tempo Paper Pulp & Packaging Ltd and Flex Films Africa PVT Limited, are expanding their production capacities to meet the growing demand for high-quality packaging films in Nigeria and across Africa.

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Nigeria Flexible Packaging Market Size - Table of Contents

  1. 1. MARKET INSIGHTS

    1. 1.1 Market Overview

    2. 1.2 Industry Value Chain Analysis

    3. 1.3 Industry Attractiveness - Porter's Five Forces Analysis

      1. 1.3.1 Bargaining Power of Suppliers

      2. 1.3.2 Bargaining Power of Buyers

      3. 1.3.3 Bargaining Power of Suppliers

      4. 1.3.4 Threat of New Entrants

      5. 1.3.5 Threat of Substitutes

      6. 1.3.6 Intensity of Competitive Rivalry

    4. 1.4 Assessment of the Impact of COVID-19 on the Market

    5. 1.5 Global Flexible Packaging Market Overview

  2. 2. MARKET SEGMENTATION

    1. 2.1 By Material

      1. 2.1.1 Paper

      2. 2.1.2 Plastic

      3. 2.1.3 Metal

    2. 2.2 By Product Type

      1. 2.2.1 Bags and Pouches

      2. 2.2.2 Films and Wraps

      3. 2.2.3 Other Product Types

    3. 2.3 By End-user Industry

      1. 2.3.1 Food

      2. 2.3.2 Beverage

      3. 2.3.3 Healthcare and Pharmaceutical

      4. 2.3.4 Others End-user Industries

Nigeria Flexible Packaging Market Size FAQs

The Nigeria Flexible Packaging Market is projected to register a CAGR of 4.60% during the forecast period (2024-2029)

Victor Oscar Company, Flexipack Plastics Ltd, PrimePak Industries Nigeria Ltd, Quantum Plastic Nigeria Ltd and Tempo Paper Pulp & Packaging Ltd are the major companies operating in the Nigeria Flexible Packaging Market.

NIGERIA FLEXIBLE PACKAGING MARKET Size & Share Analysis - Growth Trends & Forecasts (2024 - 2029)