It is often common to hear people say “ONE MAN’S MEAT IS ANOTHER MAN’S POISION” owning to the diversity in want’s, need’s, desires, race, culture, position and location of humans. In business however, “ONE MAN’S PROBLEM IS ANOTHER MAN’S SOURCE OF INCOME “ and this is the basis on which ALL business are founded and built from the very large corporation like Coca Cola ,Microsoft, MTN to the road side shops, identifying a problem and providing solution to it at the best rate available.
Believe it or not, the plastic industry in Nigeria is a goldmine. The use plastics has become pat of our everyday life because they have been found to be less expensive and easier to produce compared to steel iron and glass.
Hence, manufacturers have taken it upon themselves to creatively produce plastic products that make life easier for their clients and rake in profits. Some of the products include plastic bottles {containers}, straws, buckets, footwear etc.
The industry allows investment from small, medium and large scale investors and one of the areas where investors can invest and make good return on investment is in the area of production of straw. Little investment is witnessed in this area of plastic production because of lack of information, therefore less number of people is operating the business and these gives more room for savvy investors that are willing and ready to take advantage of these.
Straw is a product of convenience which provides comfort for children that makes up about 40% of our entire population of about 165 million people and even adults while drinking the liquid content in a container.
A drinking straw is a short tube used for transferring a liquid – usually a drink from one location to another (such as from a cup, to one’s mouth).
One particular advantage of using a straw when drinking is the reduction of tooth decay. Many soft drinks have acidic properties, and using a straw reduces the liquid contact with the teeth, reducing tooth decay and the risk of cavities. There are basically two types. Those with a single colour and those with multiple colours produced by different machines. They can be produced from virgin or reprocessed materials.
The market for straws in Nigeria is large and expanding because of the large population of children whom are the chief users of the product in the country. The market continues to grow especially with the expansion and increase in the number of fast food outlets and restaurants occasioned by the large number of children and young adults they continue to attract daily. Straw is one of those products that you use once and dispose off and this would continue to make the product in hot demand.
The investor can choose to produce customized straw for fast food outlets or produce for the general public.
Plastic production in Nigeria is controlled by Indians and Chinese because they have mastered the technology of plastic production and at such the plant would to sourced from India from one of the best manufacturers of the plant and the ideal location would be where the investor can easily source for raw material and market. The investor can choose to add a recycling plant to the scope of operation in order to reduce the operating cost.
At Foraminifera Market Research {www.foramfera.com}, we provide bespoke and up to date market research reports for start-ups and those already in business.
Our reports are designed to assist start-ups to understand the legal and financial requirements of starting the business, the market trends vis-a-vis demand and supply, competition, risk identification and mitigation strategies.
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At Foraminifera Market Research {www.foramfera.com}, we provide bespoke and up to date market research reports for start-ups and those already in business.
Our reports are designed to assist start-ups to understand the legal and financial requirements of starting the business, the market trends vis-a-vis demand and supply, competition, risk identification and mitigation strategies.
You can order our detailed feasibility report on Drinking Straw production in Nigeria by clicking on the link below.
Report Title: DRINKING STRAW PRODUCTION IN NIGERIA; THE FEASIBILITY REPORT.
Report Code: FORA/2013/300/0957736
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