The demand for other hot drinks is set to increase over the forecast period, as manufacturers and consumers enjoy more conducive business conditions in the market. From an economic perspective, rising disposable incomes strengthen consumer confidence and spending power.
Malt-based hot drinks is expected to continue to dominate other hot drinks over the forecast period. The preference for malt-based hot drinks is likely to be supported by more intense competition, which is predicted to limit unit prices.
New local entrants are expected in chocolate-based flavoured powder drinks in the forecast period. These new players are likely to appeal to lower-income consumers with affordably-priced products.
Nestlé Nigeria has consolidated its strong leadership of other hot drinks through intense promotional campaigns. For example, ShopRite offered a popular promotion for Milo malt-based hot drinks, with consumers purchasing 10x20g sachets receiving a free sachet.
GlaxoSmithKline Consumer Nigeria’s Horlicks has struggled to gain retail value share. Horlicks was challenged by aggressive marketing campaigns by mainstream rivals like Milo and Cadbury Bournvita.
Cocoa Products (Ile-Oluji) and its Oluji Pure Cocoa Powder brand continued to steadily gain retail shelf space in 2018. By sourcing its raw materials from southwest Nigeria, the company benefits from the support of local communities.
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This industry report originates from Passport, our Hot Drinks market research database.