This Megatrends report highlights long-term trends resulting from shifts in consumer values and behaviour. It provides a summary of each of Euromonitor International's 10 focus megatrends and insights as to how each trend has manifested in Nigeria. Euromonitor's Megatrends in Nigeria re...
Nigeria's population is projected to nearly double by 2040, as it reaches 313 million citizens. Rapid urbanisation will continue, while the median age will be 21.1 as Gen Alpha is expected to dominate the consumer landscape. Soaring inflation and high unemployment continue to deepen social inequalit...
Sports footwear is in high demand for its performance and comfort and is experiencing a notable surge as more individuals opt for comfort-driven choices over formal products in their everyday use. Turkish consumers increasingly demand technology that adds value, and manufacturers will increasingly b...
Sportswear in Chile continues to gain momentum among local consumers, registering sustained growth since the reopening of retail post-pandemic. Sportswear has become the flagship category of apparel and footwear, not only due to its direct relationship with sports but also because of other drivers s...
Even though sportswear is very mature in Norway, it was the best performing segment during the pandemic in 2020 and 2021. Health and exercise became even more important during the pandemic with many stating that it was key for mental health. Norwegians, who are already very outdoorsy increased the f...
Sauces, dips, and condiments has faced notable challenges in 2024 due to Nigeria's prevailing economic difficulties, including high inflation. Despite these obstacles, the category has managed to achieve marginal positive volume growth, as many of its products are essential cooking ingredients. Howe...
High inflation in Nigeria, persisting from 2023 into 2024, has significantly impacted the performance of cooking ingredients and meals by severely weakening consumer spending power. While these products are largely essential, many consumers have been compelled to reduce consumption or switch to more...
Inflationary pressures in 2024 have significantly hampered the performance of meals and soups in Nigeria, with volume sales experiencing notable declines. Products in this category are widely regarded as non-essential by the majority of Nigerian consumers, and the weakened disposable income of middl...
Sportswear is maintaining healthy value growth in South Korea in 2024, albeit at lower levels than seen in the recent review period, as sales normalise after the enhanced value created by inflationary pressures leading to high unit prices. Overall, sportswear is supported by both persisting fashion ...
Staple foods have experienced a challenging year in 2024, marked by weak volume performance despite their essential nature within the Nigerian diet. Inflationary pressures and rising production costs have significantly impacted the industry, driving unit prices upwards and weakening consumer purchas...