In 2022, energy drinks continued to see moderate growth in retail volume terms due to the widespread belief among Nigerians that these drinks carry aphrodisiacal effects and also support energy levels. Moving forward, it is expected that energy drinks will perform better than during the review period in volume terms.
Potential threats to energy drinks include rising inflation, particularly if the depreciation of the local currency does not improve. A fall in disposable incomes could directly impact affordability, with the possibility of regulatory bodies such as NAFDAC introducing health warnings on packs.
It is expected that the economy will recover over the forecast period, leading to an increase in average disposable income amid a relaxation of COVID-19 restrictions. On-trade volume sales will see growth as more people will begin to visit night clubs and bars where consumers mix energy drinks with alcoholic drinks for that extra lift whilst dancing the night away.
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Understand the latest market trends and future growth opportunities for the Energy Drinks 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 Energy Drinks 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.
These are functional drinks designed to boost energy levels. Often lightly carbonated, these contain high levels of caffeine and a number of added water-soluble vitamins, most often a selection of B vitamins including niacin, pantothenic acid, vitamin B6, and vitamin B12. Ingredients can also include amino acids such as taurine and glucuronolactone, as well as herbal products such as guarana and ginseng. Can be carbonated or still. Leading brands in off-trade volume include Red Bull, Monster and RockStar. Glucose-based energy beverages such as Lucozade Energy are included here.See All of Our Definitions
This report originates from Passport, our Energy Drinks research and analysis database.
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