Fast Market Research recommends "Sports and Energy Drinks in Nigeria" from Euromonitor International, now available
Boston, MA -- (SBWIRE) -- 05/30/2014 -- The booming culture of night life in urban areas, as well as the consumption of energy drinks as a supplement with some alcoholic drinks, continued to boost sales in 2013. Apart from the desire to boost energy, consumers use such drinks as mixers with alcoholic drinks, with some seeking to "dilute" the alcoholic content in drinks. Furthermore, increased health consciousness and growing interest in exercising in gyms, particularly among working professionals, has supported the strong growth in the relatively new category of sports drinks, and this helped to drive overall category performance during the year, as well as over the review period. Nevertheless, the 10% total volume growth for the category as a whole seen in 2013 was weaker than the review period average of 12%, due to the higher saturation of energy drinks.
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GlaxoSmithKline Nigeria Plc dominated the sports and energy drinks category in 2013, when it posted a 62% off-trade volume share, thanks to its Lucozade and Lucozade Boost brands. The Lucozade brand has a long-standing presence in Nigeria and is widely available in retail outlets across the country. Lucozade is perceived as a healthier drink than newer brands of energy drinks, as it is thought to contain fewer stimulants; it therefore attracts consumers who are seeking products that they perceive to be healthier than brands such as Power Horse (S Spitz GesmbH) and Red Bull (Red Bull GmbH). The brand is also packaged in brick liquid cartons of various sizes, in contrast to the metal beverage cans in which most other brands are packaged. It is significantly cheaper than most alternative brands. The Lucozade Sports sub- brand (present in the category of sports drinks only) was also the first sports drink available in the market.
The sports and energy drinks category is expected to see a slowdown in its growth rate over the forecast period, with total volume sales set to rise at a CAGR of 6% in total volume terms compared to a 12% CAGR over the review period. Health consciousness is becoming of increasing concern to many Nigerians and, since products in this category contain sugar and caffeine, many consumers will want to cut down on their consumption. The category is also facing saturation, following a flurry of new brands launched during the review period and, as there is competition from pre-mixed (or ready-to-drink) alcoholic drinks, products in the energy drinks category are slowly losing their USP in Nigeria.
Discover the latest market trends and uncover sources of future market growth for the Sports and Energy Drinks industry in Nigeria with research from Euromonitor's team of in-country analysts.
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