Almost all the milk consumed in the country is derived from cattle. But we all know that Nigeria does not produce enough cow milk, so over 70 seventy percent of required diary milk is imported at an estimated cost of N469bn per annum, according to data from the Ministry of Industry, Trade and Investment.
Importation of the product makes it costly and often times out of reach of the poor. According to the Ministry, the dairy industry has potential of producing millions of jobs and generating about N300bn monthly.
It is common knowledge that milk is important for the healthy development of children and adults because it contains protein, calcium, carbohydrates, vitamins, minerals and fat, which makes it useful to the overall functioning and health of the body, and reduces the chances of a number of deficiencies and illness.
Research has however proved that plant-derived alternatives to dairy milk are quite nourishing, and cheaper. Though some experts argue that they are not as rich as diary milk, it is accepted that nuts comprise some more useful nutrients. Besides, some people are allergic to dairy and animal protein and would embrace reasonable alternatives. The elderly also avoid dairy products for health reasons.
Nut-milk therefore offers an affordable alternative to dairy milk, and would instantly cover the huge market gap carved by some people who have slowed down or stopped consumption of dairy milk.
Already, nut milk is consumed at the subsistent level and tagged with various local names like ‘Kunu’. Nut milk can be made from the sap of grains and nuts like soybeans, tiger nuts, almond, cashews, groundnuts, cocoanuts and many others.
Apart from opportunities in the huge local market, the global dairy alternative market is estimated to surpass $11.4bn in 2018. This means that those who have opted out of dairy milk consumption due to lifestyle changes or fad can actually become major consumers of nut milk products if the right packaging, processing and promotions are in place.
This business opportunity should appeal to deep thinking entrepreneurs who want to play either in the Nigerian or global market, or both. They can achieve first movers’ advantage and assist to quickly locate Nigeria on the global market space and earn desired foreign exchange.
