NIGERIA – Golden Penny, the iconic brand of Flour Mills of Nigeria, has launched a new flavour for its noodles brand, now coming in Goat Meat Pepper Soup flavour.
The new product gives consumers a taste of the classic Nigerian cuisine, which is widely enjoyed by the citizens.
According to the company, the product is available across all retail stores enabling consumers to conveniently access them and whip up the scrumptious meal in just under 5 minutes.
The food division of FMN, has been constantly cracking its brains to provide commodities that align with consumer’s taste and preferences.
In 2019, the food processor, introduced Golden Penny Jollof Noodles with a unique blend of spices, mimicking the taste and aroma of the legendary one-pot dish that’s ubiquitous in Nigeria and the rest of the West African region.
The product launches are as a response to its research and development strategies which gives them insights pertaining to the consumers.
Golden Penny noodles is one of the top three brands in this category in Nigeria, currently holding a 10 per cent share of the N109 billion (US$264m) noodles market, reports ThisDay.
The market has seen increased investment in recent years from manufacturers such as Dufil Group, and Honeywell Flour Mills.
The category has also experienced acquisitions at various times. In 2018, Dufil acquired 100 percent of the food production line of May & Baker Nigeria plc, which covers its noodles business under the brand name Mimee Noodles. The deal was valued at N775 million (US$1.8m).
Similarly, in 2017, Dangote Noodles Limited, a unit of Nigerian company Dangote Flour Mills, sold two of its production plants at its Ikorodu and Calabar factories to Dufil for N3.7billion (US$8.9m).
Although of Japanese origin, noodles have become prominent among Nigerian consumers due to its relatively affordable and instant meal nature usually made from common wheat.
Nigeria’s youthful population is providing a big market for noodle makers which many refer to the boundary between a solid meal and a snack.
With 44 percent of Nigerians between 0-14 years and over 70 percent in 0-30 years’ bracket, young Nigerians are whetting their appetite with noodles as it is easy to cook and faster for urban dwellers.
Data from the World Instant Noodles Association (WINA) shows that Nigeria is currently among the largest consumers of instant noodles, with 1.92 million servings as of May 2020, ranking 11th position in the global demand for noodles. The country’s overall per capita noodle consumption stands at around 1.7 kg.
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