Nigeria Flexible Plastic Packaging Market Size (2024 - 2029)

Nigeria Flexible Plastic Packaging Market Analysis

The Nigeria Flexible Plastic Packaging Market size in terms of shipment volume is expected to grow from 0.25 Million tonnes in 2024 to 0.3 Million tonnes by 2029, at a CAGR of 3.71% during the forecast period (2024-2029).

The surge in demand for flexible plastic packaging solutions in Nigeria stems from a rising population, increased consumer spending, and the expanding pharmaceutical, food, and beverage industries.

• Nigeria, Africa's most populous country, is poised for growth in its flexible packaging industry, driven largely by the burgeoning food and agricultural sectors. Notably, the food processing landscape is predominantly shaped by small and medium-sized enterprises (SMEs), presenting a significant growth avenue for flexible packaging solutions like pouches, bags, films, and wraps.
• The flexible plastic packaging market is set for substantial growth, and the Nigerian food industry is projected to follow a robust trajectory. According to the US Department of Agriculture (USDA), household food spending in Nigeria is forecasted to surge by 15.2% between 2023 and 2025, fueled by urbanization and a youthful demographic.
• Nigeria's healthcare sector, still in its nascent stages, aligns with Africa's broader ambition of fostering a self-reliant pharmaceutical industry. Notably, in 2023, the Nigeria Sovereign Investment Authority (NSIA) bolstered its healthcare initiatives, as reported by the International Trade Administration, further underlining the sector's growth potential.
• Yet, amidst these promising trends, environmental concerns loom large on the flexible packaging market. In a proactive move, the Nigerian government, responding to mounting worries over plastic waste, announced a ban in January 2024 on single-use plastics, encompassing bags, containers, and bottles, thus hampering the market’s growth.

Nigeria Flexible Plastic Packaging Industry Segmentation

The study on the Nigerian flexible plastic packaging market tracks demands in terms of revenue by material and tracks the market size for respective end-users. The market estimates include all the costs associated with flexible plastic packaging manufacturing, from raw material procurement to end-use industries. The estimates exclude the cost of the content that is or is to be packed inside the flexible plastic packaging. The scope of the flexible plastic packaging market is limited to B2B demand. Market numbers have been arrived at using both bottom-up and top-down approaches for segmentation, and volume has also been considered.

The Nigeria Flexible Plastic Packaging Market Report is Segmented by Material (Polyethene [PE], Bi-Oriented Polypropylene [BOPP], Cast Polypropylene [CPP], Polyvinyl Chloride [PVC], Ethylene Vinyl Alcohol [EVOH], and Other Material Types [Polycarbonate, PHA, PLA, Acrylic, and ABS]), Product Type (Pouches, Bags, Films and Wraps, and Other Product Types), End-User Industry (Food [Frozen Food, Dry Food, Meat, Poultry, and Sea Food, Candy & Confectionery, Pet Food, Dairy Products, Fresh Produce and Other Food (Seasonings & Spices, Spreadables, Sauces, Condiments, etc.)], Beverage, Medical and Pharmaceutical, Personal Care and Household Care, and Other End User Industry [Automotive, Chemical, Agriculture]).The market sizing and forecasts are provided in terms of volume (tonnes) for all the above segments.