Market Insights Consumer Beauty & Personal Care Skin Care

Baby & Child - Nigeria

Nigeria

In Nigeria, the revenue generated in the Baby & Child market is US$94.66m in 2024.
It is projected to experience an annual growth rate of 12.70% (CAGR 2024-2029).
When compared to other countries globally, in China generates the highest revenue in this market segment, amounting to US$651m in 2024.
In terms of per person revenues, in Nigeria generates US$0.41 per person in 2024.
"Despite economic challenges, the Baby & Child market in Nigeria is experiencing steady growth due to an increase in disposable income and a growing middle class."

Key regions: United Arab Emirates, India, Singapore, Worldwide, South Korea

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Data coverage:

The data encompasses B2C enterprises. As a basis for evaluating markets, we use resources from the Statista platform as well as in-house market research, national statistical offices, international institutions, trade associations, companies, the trade press, and the experience of our analysts. In addition, we use relevant key market indicators and data from country-specific associations such as population, GDP per capita, and Human Development Index. This data helps us estimate the market size for each country individually.

Forecasts:

In our forecasts, we apply diverse forecasting techniques. The selection of forecasting techniques is based on the behavior of the relevant market. For example, multiple forecasting techniques based on different forecasting methods, such as Autoregressive Integrated Moving Average (ARIMA) and exponential trend smoothing, can provide the most accurate forecasts.

Additional notes:

The market is updated twice a year in case market dynamics change. The impact of the COVID-19 pandemic and the Russia-Ukraine war are considered at a country-specific level.