Dublin, July 31, 2024 (GLOBE NEWSWIRE) -- The "Alcoholic Drinks in Nigeria" report has been added to ResearchAndMarkets.com's offering.
Poor economic conditions characterised by high inflation and lower purchasing power negatively impacted alcoholic drinks in Nigeria during 2023. Almost all categories saw volume declines except for spirits, which largely consists of economy spirits. Unit prices increased due to higher excise tax and rising import costs for raw materials and finished products, which can be linked to the depreciation of the local currency.
Report Scope
This report offers a comprehensive guide to the size and shape of the market at a national level. It provides the latest retail sales data (2019-2023), allowing you to identify the sectors driving growth. It identifies the leading companies, the leading brands and offers strategic analysis of key factors influencing the market - be they legislative, distribution or pricing issues. Forecasts to 2028 illustrate how the market is set to change.
Product coverage: Beer, Cider/Perry, RTDs, Spirits, Wine.
Data coverage: Market sizes (historic and forecasts), company shares, brand shares and distribution data.
Why buy this report?
- Get a detailed picture of the Alcoholic Drinks market;
- Pinpoint growth sectors and identify factors driving change;
- Understand the competitive environment, the market's major players and leading brands;
- Use five-year forecasts to assess how the market is predicted to develop.
Key Topics Covered
EXECUTIVE SUMMARY
- Alcoholic drinks in 2023: The big picture
- 2023 key trends
- Competitive landscape
- Retailing developments
- On-trade vs off-trade split
- What next for alcoholic drinks?
MARKET BACKGROUND
- Legislation
- Legal purchasing age and legal drinking age
- Drink driving
- Advertising
- Smoking ban
- Opening hours
- On-trade establishments
- Number of On-trade Establishments by Type 2017-2023
TAXATION AND DUTY LEVIES
- Taxation and Duty Levies on Alcoholic Drinks 2023
OPERATING ENVIRONMENT
- Contraband/parallel trade
- Duty free
- Cross-border/private imports
KEY NEW PRODUCT LAUNCHES
- Outlook
MARKET INDICATORS
- Retail Consumer Expenditure on Alcoholic Drinks 2018-2023
MARKET DATA
BEER IN NIGERIA
- KEY DATA FINDINGS
- 2023 DEVELOPMENTS
- Beer sales witness volume decline due to rising prices and weak consumer spending
- Economy lager faces decline even as consumers seek cheaper options
- Premium lager fairs slightly better in challenging economic conditions
- PROSPECTS AND OPPORTUNITIES
- Steady growth in beer expected as the economy recovers
- Flavoured/mixed lager and premium lager to resume strong growth
- Economy lager should drive overall growth even as mid-priced lager recovers
- CATEGORY BACKGROUND
- Lager price band methodology
- Lager by Price Band 2023
- CATEGORY DATA
WINE IN NIGERIA
- KEY DATA FINDINGS
- 2023 DEVELOPMENTS
- Economic conditions weaken volume sales in the wine category
- Non-alcoholic wine continues to be the preferred choice in Nigeria
- On-trade takes the brunt of challenging economic conditions
- PROSPECTS AND OPPORTUNITIES
- Wine to grow well as economy recovers
- Economy and standard brands to continue dominating wine volume sales
- Non-alcoholic wine to underpin category growth
- CATEGORY DATA
SPIRITS IN NIGERIA
- KEY DATA FINDINGS
- 2023 DEVELOPMENTS
- Trend towards cheaper alcoholic drinks boosts volume sales
- Gin and schnapps are the best performing spirits
- Steep price increases prompt sharp decline in volume sales of premium spirits
- PROSPECTS AND OPPORTUNITIES
- Spirits to grow well, boosted by growing preference among young consumers
- New regulations on pack sizes will impact the largest spirit categories
- Premium brands to resume fast growth
- CATEGORY BACKGROUND
- Vodka, gin, other blended Scotch whisky, dark rum and white rum price band methodology
- Benchmark Brands 2023
- CATEGORY DATA
CIDER/PERRY IN NIGERIA
- KEY DATA FINDINGS
- 2023 DEVELOPMENTS
- Cider/perry sees volume decline due to challenging economic conditions
- Cider remains a niche category dependent on social occasions
- Non-alcoholic cider/perry performs well
- PROSPECTS AND OPPORTUNITIES
- Cider/perry to grow well over the forecast period as economy recovers
- On trade to perform better than retail as disposable incomes rise
- Women to boost demand for cider/perry
- CATEGORY DATA
RTDS IN NIGERIA
- KEY DATA FINDINGS
- 2023 DEVELOPMENTS
- Sharp decline in volume sales of RTDs
- Competitive landscape remains largely unchanged
- On-trade sales slump in 2023
- PROSPECTS AND OPPORTUNITIES
- Economic recovery to boost RTDs sales over the forecast period
- Spirit-based RTDs continue to dominate but wine-based RTDs have some growth potential
- On-trade channel to perform best as economic conditions improve
- CATEGORY DATA
For more information about this report visit https://www.researchandmarkets.com/r/jb54o7
About ResearchAndMarkets.com
ResearchAndMarkets.com is the world's leading source for international market research reports and market data. We provide you with the latest data on international and regional markets, key industries, the top companies, new products and the latest trends.
