Refrigeration Appliances in Nigeria

PROSPECTS

Rising urban population drives growth

Increased growth in households in urban areas is expected drive demand for refrigeration appliances in Nigeria, particularly freestanding freezers as this format has the capacity to preserve food and beverages despite poor power supply in the country. Furthermore, the recovery of the economy is anticipated to support the growing urban population, which in turn will increase volume sales over the forecast period.

Energy efficiency of refrigeration appliances drives growth of major brands

The high cost of electricity coupled with interruptions in power supply have driven major players to implement energy-efficient innovations to meet the needs of local consumers. Greater availability of energy-efficient appliances is anticipated to improve sales as consumers can save on electricity costs.

Freestanding chest freezers drives volume growth

Built-in refrigeration appliances remained negligible, as local consumers prefer freestanding units. Chest freezers remained popular due to their fast cooling capacity, despite interruptions in power supply.

COMPETITIVE LANDSCAPE

Haier Thermacool leads refrigeration appliances due to energy-efficient innovation

PZ Cussons Nigeria’s brand Haier Thermacool led the category in terms of retail volume share. Haier Thermacool has established itself as a household brand name in refrigeration appliances in Nigeria and has sustained its reputation for quality and consistency in its product offering.

Scanfrost retains second rank

Another brand with significant share in refrigeration appliances, despite losing ground, was Scanfrost fridges from Fareast Mercantile Co Ltd. Scanfrost continued to record retail volume growth due to consumer demand for value-for-money brands that are known for quality.

Locally manufactured refrigeration appliances dominate

Refrigeration appliances continued to be dominated by manufacturers that assemble their appliances on local manufacturing lines. Local companies such as PZ Cussons, Fareast Mercantile and Fouani Nigeria performed particularly well.

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