Grocery market in Nigeria

The Nigerian Grocery eCommerce market is predicted to reach US$122.4 million by 2024 and accounts for 5.5% of the total eCommerce market in Nigeria. It is expected to increase over the next years. The expected compound annual growth rate for the next four years (CAGR 2024-2028) will be 22.6%, resulting in a projected market volume of US$276.4 million by 2028. Within the Grocery market ECDB considers the following two sub-markets: Food and Beverages.

Market development

eCommerce revenue development in the Meat & Fish market in Nigeria

The Nigerian Meat & Fish eCommerce market is predicted to reach US$15.7 million by 2024 and accounts for 44.4% of the Fresh Food eCommerce market in Nigeria. It is expected to increase over the next years. The expected compound annual growth rate for the next four years (CAGR 2024-2028) will be 21.1%, resulting in a projected market volume of US$33.7 million by 2028. The Meat & Fish eCommerce market is a sub-market of the Fresh Food market. Further categories within the Fresh Food market are: Chilled Food, Dairy Goods, Fruits & Vegetables, and Other Fresh Food.

eCommerce revenue development in the Meat & Fish market in Nigeria

in million US$

Note: Market revenue represents B2C sales of physical goods including VAT. It excludes B2B sales, C2C sales, returns, compensation for damaged or missing goods, any discounts granted and services. Data shown is using current exchange rates.

Source: ECDB analysis

eCommerce revenue growth in the Meat & Fish market in Nigeria

in %

Note: Market revenue represents B2C sales of physical goods including VAT. It excludes B2B sales, C2C sales, returns, compensation for damaged or missing goods, any discounts granted and services. Data shown is using current exchange rates.

Source: ECDB analysis

Net eCommerce revenue split by sub-category

in %

Note: Data shown is using current exchange rates.

Source: ECDB analysis

20202021202220232024202520262027
Revenue (in mUS$)0.00.00.00.00.00.00.00.0
Growth (in %)12.266.123.389.616.314.192.030.6

Online share

eCommerce online share of the total Meat & Fish market in Nigeria

The online share refers to the proportion of the retail volume that is transacted via the Internet. It includes purchases via desktop PC, tablet or smartphone, both via website or app. Only retail of physical goods is taken into account. In the Nigerian Meat & Fish retail market, the online share is 0.1% and will decrease by an average of 3.9% to 0.1% by 2028.

eCommerce online share of the total Meat & Fish market in Nigeria

in %

Note: Data shown is using current exchange rates.

Source: Statista Market Insights , ECDB analysis

20202021202220232024202520262027
Online share (in %)31.0%79.1%74.0%9.7%12.4%41.0%27.6%52.8%

Market definition

Definition of the Meat & Fish market within the Grocery market

Market definition: Grocery > Food > Fresh Food > Meat & Fish The category Meat & Fish includes the online trade of meat (e.g. beef, pork, chicken), fish (e.g salmon, tuna) and seafood. This category does not cover processed meat, fish and seafood. All monetary figures refer to the annual gross revenue and do not factor in shipping costs.

In-scope

  • Meat (e.g. beef, pork, chicken)
  • Fish (e.g salmon, tuna)
  • Seafood

Out-of-scope

  • Processed meat, fish and seafood

Market comparison

The Nigerian Meat & Fish market in a global comparison

Market comparison by growth, online share, and revenue in 2023

in %

Source: ECDB analysis

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