Market Size of Nigeria Rigid Plastic Packaging Industry
| Study Period | 2022 - 2029 |
| Base Year For Estimation | 2023 |
| Forecast Data Period | 2024 - 2029 |
| Historical Data Period | 2022 - 2022 |
| CAGR (2024 - 2029) | 2.59 % |
| Market Concentration | High |
Major Players
*Disclaimer: Major Players sorted in no particular order |
Nigeria Rigid Plastic Packaging Market Analysis
The Nigeria Rigid Plastic Packaging Market size in terms of shipment volume is expected to grow from 0.33 Million metric tons in 2024 to 0.37 Million metric tons by 2029, at a CAGR of 2.59% during the forecast period (2024-2029).
Nigeria, with a population of 218 million, is Africa's most populous nation. It also has the largest economy on the continent, as measured by gross domestic product (GDP), significantly boosting the country's manufacturing sector. Rising disposable incomes and a growing appetite for packaged goods in Nigeria drive the surging demand for rigid plastic packaging solutions.
- According to data from the United States Department of Agriculture (USDA), household food spending is estimated to grow by 15.2% on average annually from 2022 to 2025. This surge is largely fueled by a shift in consumer preference towards European and American-style foods, propelling the growth of international fast-food giants such as KFC and Domino's in Nigeria.
- Moreover, factors such as rising urbanization, a burgeoning youth demographic, and increasing female employment are amplifying the demand for convenient meal solutions. This includes a growing appetite for ready-to-eat meals, packaged snacks, and fast foods, all commonly packaged in rigid plastic containers.
- Manufacturers in Nigeria are increasingly gravitating towards Polyethylene (PE) for rigid plastic packaging due to its robust barrier properties and versatility. Furthermore, PET material is also gaining traction for its durability, adaptability, and cost-effectiveness. As industries like food, beverage, and pharmaceuticals continue to expand and innovate, the demand for plastic bottles and container packaging is on the rise.
- Nonetheless, Nigeria's rigid plastic packaging market faces a significant hurdle: mounting environmental concerns. The country's struggle with plastic waste, which often finds its way into rivers, oceans, and landfills, poses a challenge. The Nigerian Economic Summit Group highlights the gravity of the situation, estimating an annual generation of 2.5 million tonnes of plastic waste in the country.
