Health & Fitness - Nigeria
Nigeria- The projected total revenue in the Health & Fitness market in Nigeria is expected to reach ₦US$2.88m in 2022.
- This reflects a significant growth rate of 8.88% per year (CAGR 2022-2027), resulting in a projected market volume of ₦US$4.35m by 2027.
- Looking specifically at the revenue generated through in-app purchases (IAP), it is projected to reach ₦US$1.61m in 2022.
- Additionally, the revenue from paid apps is expected to reach ₦US$1.12m in the same year.
- Furthermore, advertising revenue in the Health & Fitness market in Nigeria is projected to reach ₦US$155.50k in 2022.
- In terms of user engagement, the number of downloads in the Health & Fitness market is projected to reach 7.28m downloads in 2022.
- This indicates a strong interest in health and fitness apps among Nigerian consumers.
- Currently, the average revenue per download is expected to amount to ₦US$0.40, which demonstrates the potential for monetization in the market.
- When compared globally, it is worth noting that China generates the highest revenue in the Health & Fitness market, with a projected revenue of US$1.61bn in 2022.
- This highlights the market's prominence China compared to other countries.
- Key regions:
- Europe,
- Germany,
- South Korea,
- Japan,
- Asia
Definition:
The Health & Fitness market contains apps for tracking health, working out, managing stress, and providing various home remedies. The scheduled and interactive nature of many of these apps encourages users to pursue and maintain healthy lifestyles. Workout apps such as Home Workout encourage regular exercise routines with increasing progressions of difficulty. Another app, MyFitnessPal, tracks diet and calorie consumption in order to achieve specific weight goals.Additional Information:
We consider three different sources of revenue:- Revenue from in-app purchases (IAP) that comes from the purchase of features, upgrades, and subscriptions within an app
- Paid app revenue from the one-time purchase of an app
- Advertising revenue obtained from showing ads within an app
In-Scope
- Apps that can be downloaded from major app stores such as Apple, Inc.'s App Store and the Google Play store, or in the case of China, from stores such as Huawei AppGallery and Tencent Appstore.
- Apps that are run on iPhones and Android phones.
Out-Of-Scope
- Apps exclusively offered by Microsoft Store and Amazon Appstore for Android.
- Custom-made apps not available from any official app store.
- B2B/C2C app sales of any kind.
- Subscription revenues outside of in-app purchases (for example, Netflix and Spotify use their own payment systems outside of their apps).
