Food and beverage firms find the Nigerian market to be attractive - Consultant

 


Yeni Fowotade, the founder of Orbiq and principal consultant at Africon GmbH, has revealed that foreign food companies are looking for collaborations and consumer insights in Nigeria's lucrative consumer market. Speaking as an observer at the recently finished Food and Beverage West Africa 2024 Trade Exhibition in Lagos, the speaker mentioned that many foreign food and beverage firms are considering Nigeria.

More than 30 nations, including China, Algeria, Italy, the United States, the United Kingdom, Vietnam, Sweden, and Sweden, displayed a wide range of goods that reflected global developments and tastes. A lot of first-time customers looked for quick feedback from other customers and searched the market for rival brands, costs, distribution, and marketing tactics. Fowotade, a specialist in international business, highlights the value of market information in comprehending market dynamics and simplifying entry plans.

She advises global companies to align their products with the needs of the market, adhere to laws and regulations, spend money on strategic advertising, and collaborate with regional supply chain participants.

Nigeria's big, young population, fast urbanization, and growing disposable incomes, according to Fowotade, make it a desirable market for food and beverage enterprises.

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