The listed consumer market has failed to grow in direct proportion to population growth.
The growing population does not need consumer goods?
Of course they do.
The listed companies have failed to hit the price points that these "other" companies sell at.
These "other" companies have perfected a SACHETS strategy that keeps them afloat while producing the bare MINIMUM quality that won't kill the consumer.
Tasty cubes hit the market at about ₦80 retail price
Maggi came in big ₦300* packs
* - possible price
The end results are not far fetched.