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Nigeria - Soft Drinks - Market Analysis, Forecast, Size, Trends and Insights
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View PricingNigeria: Soft Drink Market 2024
Soft Drink Market Size in Nigeria
The Nigerien soft drink market contracted to $X in 2023, with a decrease of X% against the previous year. Overall, consumption, however, enjoyed a buoyant expansion. Soft drink consumption peaked at $X in 2019; however, from 2020 to 2023, consumption failed to regain momentum.
Soft Drink Production in Nigeria
In value terms, soft drink production reduced slightly to $X in 2023 estimated in export price. Over the period under review, production, however, continues to indicate strong growth. The most prominent rate of growth was recorded in 2013 when the production volume increased by X%. Soft drink production peaked at $X in 2019; however, from 2020 to 2023, production stood at a somewhat lower figure.
Soft Drink Exports
Exports from Nigeria
In 2023, the amount of soft drinks exported from Nigeria surged to X litres, rising by X% compared with the previous year. Overall, exports, however, continue to indicate a drastic downturn. The pace of growth appeared the most rapid in 2021 when exports increased by X% against the previous year. Over the period under review, the exports attained the peak figure at X litres in 2018; however, from 2019 to 2023, the exports failed to regain momentum.
In value terms, soft drink exports skyrocketed to $X in 2023. In general, exports, however, saw a abrupt curtailment. The growth pace was the most rapid in 2021 with an increase of X%. The exports peaked at $X in 2013; however, from 2014 to 2023, the exports failed to regain momentum.
Exports by Country
The UK (X litres) was the main destination for soft drink exports from Nigeria, with a X% share of total exports. Moreover, soft drink exports to the UK exceeded the volume sent to the second major destination, the Netherlands (X litres), fivefold. The United States (X litres) ranked third in terms of total exports with a X% share.
From 2012 to 2023, the average annual growth rate of volume to the UK stood at X%. Exports to the other major destinations recorded the following average annual rates of exports growth: the Netherlands (X% per year) and the United States (X% per year).
In value terms, the UK ($X) remains the key foreign market for soft drinks exports from Nigeria, comprising X% of total exports. The second position in the ranking was held by the Netherlands ($X), with a X% share of total exports. It was followed by the United States, with a X% share.
From 2012 to 2023, the average annual rate of growth in terms of value to the UK totaled X%. Exports to the other major destinations recorded the following average annual rates of exports growth: the Netherlands (X% per year) and the United States (X% per year).
Export Prices by Country
In 2023, the average soft drink export price amounted to $X per litre, reducing by X% against the previous year. Overall, the export price, however, recorded a relatively flat trend pattern. The pace of growth appeared the most rapid in 2013 an increase of X% against the previous year. As a result, the export price attained the peak level of $X per litre. From 2014 to 2023, the average export prices remained at a somewhat lower figure.
There were significant differences in the average prices for the major external markets. In 2023, amid the top suppliers, the country with the highest price was Benin ($X per litre), while the average price for exports to Equatorial Guinea ($X per litre) was amongst the lowest.
From 2012 to 2023, the most notable rate of growth in terms of prices was recorded for supplies to Italy (X%), while the prices for the other major destinations experienced more modest paces of growth.
Soft Drink Imports
Imports into Nigeria
In 2023, soft drink imports into Nigeria fell dramatically to X litres, which is down by X% on the previous year. Overall, imports showed a noticeable descent. The pace of growth was the most pronounced in 2019 when imports increased by X%. As a result, imports attained the peak of X litres. From 2020 to 2023, the growth of imports failed to regain momentum.
In value terms, soft drink imports contracted dramatically to $X in 2023. Over the period under review, imports recorded a deep downturn. The most prominent rate of growth was recorded in 2018 when imports increased by X% against the previous year. Over the period under review, imports hit record highs at $X in 2012; however, from 2013 to 2023, imports stood at a somewhat lower figure.
Imports by Country
Spain (X litres), Thailand (X litres) and Austria (X litres) were the main suppliers of soft drink imports to Nigeria, with a combined X% share of total imports.
From 2012 to 2023, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by Spain (with a CAGR of X%), while imports for the other leaders experienced more modest paces of growth.
In value terms, the largest soft drink suppliers to Nigeria were Spain ($X), Thailand ($X) and Austria ($X), with a combined X% share of total imports.
Among the main suppliers, Spain, with a CAGR of X%, saw the highest rates of growth with regard to the value of imports, over the period under review, while purchases for the other leaders experienced more modest paces of growth.
Import Prices by Country
The average soft drink import price stood at $X per litre in 2023, growing by X% against the previous year. Overall, the import price, however, showed a deep reduction. The pace of growth was the most pronounced in 2020 when the average import price increased by X% against the previous year. Over the period under review, average import prices attained the maximum at $X per litre in 2012; however, from 2013 to 2023, import prices remained at a lower figure.
Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was Malaysia ($X per litre), while the price for China ($X per litre) was amongst the lowest.
From 2012 to 2023, the most notable rate of growth in terms of prices was attained by Malaysia (X%), while the prices for the other major suppliers experienced more modest paces of growth.
Source: IndexBox Platform
This report provides an in-depth analysis of the soft drink market in Nigeria. Within it, you will discover the latest data on market trends and opportunities by country, consumption, production and price developments, as well as the global trade (imports and exports). The forecast exhibits the market prospects through 2030.
Product coverage:
- Prodcom 11071930 - Waters, with added sugar, other sweetening matter or flavoured, i.e. soft drinks (including mineral and aerated)
- Prodcom 11071950 - z Non-alcoholic beverages not containing milk fat (excluding sweetened or unsweetened mineral, aerated or flavoured waters)
- Prodcom 11071970 - Non-alcoholic beverages containing milk fat
- Prodcom 110000Z1 - Non-alcoholic beverages, not containing milk, milk products and fats derived therefrom (excl. water, fruit or vegetable juices)
- Prodcom 11051010 - Non-alcoholic beer and beer containing . 0.5% alcohol
Country coverage:
- Nigeria
Data coverage:
- Market volume and value
- Per Capita consumption
- Forecast of the market dynamics in the medium term
- Trade (exports and imports) in Nigeria
- Export and import prices
- Market trends, drivers and restraints
- Key market players and their profiles
Reasons to buy this report:
- Take advantage of the latest data
- Find deeper insights into current market developments
- Discover vital success factors affecting the market
This report is designed for manufacturers, distributors, importers, and wholesalers, as well as for investors, consultants and advisors.
In this report, you can find information that helps you to make informed decisions on the following issues:
- How to diversify your business and benefit from new market opportunities
- How to load your idle production capacity
- How to boost your sales on overseas markets
- How to increase your profit margins
- How to make your supply chain more sustainable
- How to reduce your production and supply chain costs
- How to outsource production to other countries
- How to prepare your business for global expansion
While doing this research, we combine the accumulated expertise of our analysts and the capabilities of artificial intelligence. The AI-based platform, developed by our data scientists, constitutes the key working tool for business analysts, empowering them to discover deep insights and ideas from the marketing data.
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1. INTRODUCTION
Making Data-Driven Decisions to Grow Your Business
- REPORT DESCRIPTION
- RESEARCH METHODOLOGY AND AI PLATFORM
- DATA-DRIVEN DECISIONS FOR YOUR BUSINESS
- GLOSSARY AND SPECIFIC TERMS
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2. EXECUTIVE SUMMARY
A Quick Overview of Market Performance
- KEY FINDINGS
- MARKET TRENDS This Chapter is Available Only for the Professional Edition PRO
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3. MARKET OVERVIEW
Understanding the Current State of The Market and Its Prospects
- MARKET SIZE
- MARKET STRUCTURE
- TRADE BALANCE
- PER CAPITA CONSUMPTION
- MARKET FORECAST TO 2030
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4. MOST PROMISING PRODUCT
Finding New Products to Diversify Your Business
This Chapter is Available Only for the Professional Edition PRO- TOP PRODUCTS TO DIVERSIFY YOUR BUSINESS
- BEST-SELLING PRODUCTS
- MOST CONSUMED PRODUCT
- MOST TRADED PRODUCT
- MOST PROFITABLE PRODUCT FOR EXPORT
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5. MOST PROMISING SUPPLYING COUNTRIES
Choosing the Best Countries to Establish Your Sustainable Supply Chain
This Chapter is Available Only for the Professional Edition PRO- TOP COUNTRIES TO SOURCE YOUR PRODUCT
- TOP PRODUCING COUNTRIES
- TOP EXPORTING COUNTRIES
- LOW-COST EXPORTING COUNTRIES
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6. MOST PROMISING OVERSEAS MARKETS
Choosing the Best Countries to Boost Your Exports
This Chapter is Available Only for the Professional Edition PRO- TOP OVERSEAS MARKETS FOR EXPORTING YOUR PRODUCT
- TOP CONSUMING MARKETS
- UNSATURATED MARKETS
- TOP IMPORTING MARKETS
- MOST PROFITABLE MARKETS
7. PRODUCTION
The Latest Trends and Insights into The Industry
- PRODUCTION VOLUME AND VALUE
8. IMPORTS
The Largest Import Supplying Countries
- IMPORTS FROM 2012–2023
- IMPORTS BY COUNTRY
- IMPORT PRICES BY COUNTRY
9. EXPORTS
The Largest Destinations for Exports
- EXPORTS FROM 2012–2023
- EXPORTS BY COUNTRY
- EXPORT PRICES BY COUNTRY
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10. PROFILES OF MAJOR PRODUCERS
The Largest Producers on The Market and Their Profiles
This Chapter is Available Only for the Professional Edition PRO -
LIST OF TABLES
- Key Findings In 2023
- Market Volume, In Physical Terms, 2012–2023
- Market Value, 2012–2023
- Per Capita Consumption In 2012-2023
- Imports, In Physical Terms, By Country, 2012–2023
- Imports, In Value Terms, By Country, 2012–2023
- Import Prices, By Country Of Origin, 2012–2023
- Exports, In Physical Terms, By Country, 2012–2023
- Exports, In Value Terms, By Country, 2012–2023
- Export Prices, By Country Of Destination, 2012–2023
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LIST OF FIGURES
- Market Volume, In Physical Terms, 2012–2023
- Market Value, 2012–2023
- Market Structure – Domestic Supply vs. Imports, In Physical Terms, 2012-2023
- Market Structure – Domestic Supply vs. Imports, In Value Terms, 2012-2023
- Trade Balance, In Physical Terms, 2012-2023
- Trade Balance, In Value Terms, 2012-2023
- Per Capita Consumption, 2012-2023
- Market Volume Forecast to 2030
- Market Value Forecast to 2030
- Products: Market Size And Growth, By Type
- Products: Average Per Capita Consumption, By Type
- Products: Exports And Growth, By Type
- Products: Export Prices And Growth, By Type
- Production Volume And Growth
- Exports And Growth
- Export Prices And Growth
- Market Size And Growth
- Per Capita Consumption
- Imports And Growth
- Import Prices
- Production, In Physical Terms, 2012–2023
- Production, In Value Terms, 2012–2023
- Imports, In Physical Terms, 2012–2023
- Imports, In Value Terms, 2012–2023
- Imports, In Physical Terms, By Country, 2023
- Imports, In Physical Terms, By Country, 2012–2023
- Imports, In Value Terms, By Country, 2012–2023
- Import Prices, By Country Of Origin, 2012–2023
- Exports, In Physical Terms, 2012–2023
- Exports, In Value Terms, 2012–2023
- Exports, In Physical Terms, By Country, 2023
- Exports, In Physical Terms, By Country, 2012–2023
- Exports, In Value Terms, By Country, 2012–2023
- Export Prices, By Country Of Destination, 2012–2023
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