Recently published research from Business Monitor International, "Nigeria Food & Drink Report Q4 2012", is now available at Fast Market Research
Boston, MA -- (SBWIRE) -- 12/07/2012 -- Although we see tremendous growth potential across food and drink sector in industries such as food processing, soft drinks, beer and organised food retailing, the direct consequences of food price and fuel inflation have weighed on consumers thus far in 2012. In food and fast-moving consumer goods, firms such as Nestle and Unilever are leading the way. With incomes going up and more people able to afford Nestle's and Unilever's brands, there is a lot of room for growth; in reality, only the surface of this potential has been scratched.
Headline Industry Data (local currency)
- 2012 per capita food consumption = +9.9%; forecast compound annual growth to 2016 = +11.0%
- 2012 beer volume sales = +6.5%; forecast compound annual growth to 2016 = +7.8%
- 2012 mass grocery retail sales = +28.9%; forecast compound annual growth to 2016 = +33.6%
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Key Industry Trends & Developments
SABMiller Making Push: Multinational beverages firm SABMiller has built a fantastic beer business across Africa and has a very strong presence across the continent. The firm established a base via South African Breweries, which grew into one of the world's largest beer companies, and then expanded into the East African Community region and throughout Francophone Africa (in partnership with Castel). SABMiller has spread its wings far and wide as demand for commercial beer has grown.
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