Concentrates is expected to grow well over the forecast period in value terms, although the rate of growth will slow compared to the review period due to competition from carbonates and juices which are close substitutes. However, given the economic challenges in Nigeria, soft drinks unit prices may continue to rise as seen in 2021 and 2022.
Average unit prices are expected to increase over the forecast period fuelled by the anticipated increase in production and import costs as the international price of raw materials climbs. Despite the anticipated price rises, concentrates is still expected to see good growth in retail volume sales over the forecast period driven by cheaper powder concentrates.
Nigeria has a very young population with children and young people making up the bulk of the population. These demographic groups are known to be key consumers of concentrates in Nigeria with parents often including them in school lunch boxes.
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Understand the latest market trends and future growth opportunities for the Concentrates industry in Nigeria with research from Euromonitor International's team of in-country analysts – experts by industry and geographic specialisation.
Key trends are clearly and succinctly summarised alongside the most current research data available. Understand and assess competitive threats and plan corporate strategy with our qualitative analysis, insight and confident growth projections.
If you're in the Concentrates industry in Nigeria, our research will help you to make informed, intelligent decisions; to recognise and profit from opportunity, or to offer resilience amidst market uncertainty.
This is the aggregation of liquid concentrates and powder concentrates.See All of Our Definitions
This report originates from Passport, our Concentrates research and analysis database.
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