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Spirits recorded the strongest total volume growth in 2019 since 2014 as the economy improved and consumer confidence continued to grow, although lower-income consumers remained cautious in their spending and continued to favour less expensive brands. Even so, wealthier consumers increasingly opted for more premium formats, such as premium other blended Scotch whisky, single malt Scotch whisky and premium vodka as their disposable incomes increased.
The growth in sales of mainstream and lower-priced spirits faces a threat from the possible introduction of a ban on sales of spirits in sachets and small plastic bottles. In 2019, the National Agency for Food and Drug Administration and Control (NAFDAC) announced plans to ban the use of sachets and PET bottles in the packaging of spirits and other alcoholic drinks.
Intercontinental Distillers extended its lead in spirits in 2019 largely due to two strong brands, Chelsea London Dry Gin and Action Bitters. These brands are popular and sit within whiskies and bitters, which registered strong total volume growth in 2019.
On-trade volume sales of spirits are expected to fall by 27% in 2020 in light of the impact of COVID-19. This compares to an expected 5% rise forecast for 2020 during research conducted in May 2019, ie before the spread of COVID-19.
All types of spirits will register steep double-digit volume declines in the on-trade environment in 2020. Brandy will record steep losses as many of these products are imported and will face issues from the restrictions on travel and border closures, while its high unit prices in on-trade will make it unaffordable for many after the damage to disposable incomes in 2020.
Total volume sales of spirits will return to minor growth in 2020, followed by accelerating growth over the remainder of the forecast period.
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Overview
Discover the latest market trends and uncover sources of future market growth for the Spirits industry in Nigeria with research from Euromonitor's team of in-country analysts.
Find hidden opportunities in the most current research data available, understand competitive threats with our detailed market analysis, and plan your corporate strategy with our expert qualitative analysis and growth projections.
If you're in the Spirits industry in Nigeria, our research will save you time and money while empowering you to make informed, profitable decisions.
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This industry report originates from Passport, our Alcoholic Drinks market research database.
Gain competitive intelligence about market leaders. Track key industry trends, opportunities and threats. Inform your marketing, brand, strategy and market development, sales and supply functions.