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Wine recorded strong total volume growth over the review period despite the economic uncertainty in Nigeria. However, consumers were more rational in their choices of wine, with many moving to less expensive options.
Champagne remained a niche category in Nigeria in 2019 due to its extremely high prices. Champagne had achieved good growth in the early part of the review period, although sales were clearly limited to wealthier consumers and ex-pats.
Ekulo Group of Companies continued to lead wine in 2019 with a strong total volume share. The company is the leading importer of wine in Nigeria and distributes leading brands such as Baron Romero, Baron de Valls, B&G Cuvee Speciale, Don Simón, Escudo Rojo, Moët and Chandon, Dom Pérignon and Pink Lady Sparkling Perry.
On-trade volume sales of wine are expected to fall by 33% in 2020 in light of the impact of COVID-19. This compares to an expected 8% rise forecast for 2020 during research conducted in May 2019, ie before the spread of COVID-19.
Most types of wine are set to suffer steep double-digit total volume declines in 2020, largely driven by the closures and restrictions placed on on-trade establishments as part of the measures to combat COVID-19. Other sparkling wine had benefited from the switch from champagne towards the end of the review period and will witness only moderate, single-digit total volume falls in 2020, although this will have little impact on overall wine sales as the category is set to remain the smallest within wine.
Total volume sales of wine will return to minor growth in 2022, followed by accelerating performances over the remainder of the forecast period. Even so, total volumes will not be able to reach pre-pandemic levels by 2024, such is the impact of the COVID-19 epidemic on on-trade sales and consumer confidence, with consumers continuing to watch their spending on wine carefully throughout the forecast period.
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Overview
Discover the latest market trends and uncover sources of future market growth for the Wine 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 Wine 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.