Recently published research from Euromonitor International, "Carbonates in Nigeria", is now available at Fast Market Research
Boston, MA -- (SBWIRE) -- 05/29/2014 -- In 2013, total volume sales of carbonates increased strongly, rising by 7%. This represented a notable improvement compared to the previous year's growth of 1%, as the category recovered from the strong negative impact of the security crisis in the north of the country, which affected distribution, as well as the fuel price hike of January 2012. It has thus returned to the pre-2012 growth performance, largely due to creative marketing by manufacturers whose introduction of new pack types such as PET bottles helped to revitalise demand. Furthermore, producers of carbonates seem to have acknowledged the threat posed by other soft drinks, such as "nutritious" flavoured milk drinks and juice, and thus are innovating in a bid to offer interesting new juice-based products. This explains the strong performance of the apple-based La Casera brand from The La Casera Co Ltd, for example. These factors aside, carbonates generally performs positively in Nigeria, in line with population growth, given that the hot weather leads to demand for cold, sweet drinks, particularly in roadside vendors and other away-from-home channels.
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Coca-Cola Nigeria Ltd led carbonates with a 48% off-trade volume share in 2013. Coca-Cola Nigeria Ltd had previously dominated the category, largely due to its spread of production plants and vast distribution network, which is crucial in a country where the road networks remain challenging. The company also has a relatively long-standing presence in the country, during which time it has built its distribution network, with a particular focus on one-on-one relationships with retailers. It also benefits from aggressive advertising and brand-building activities. The ubiquitous presence of the Coca-Cola brand, as well as its other brands, on billboards, print media, television and radio has made it a household name across the country.
Over the forecast period, the carbonates category is expected to see total volume sales rise at a CAGR of 7%. Growth is expected to be stronger compared to the review period, when a 6% CAGR was recorded. Although the category was negatively impacted during the review period by competition from other soft drinks products, namely juice and drinking milk products, the increase in carbonates products that have novel fruit flavours is helping the category to resist the impact of this competition; it will also help drive it achieve stronger growth over the forecast period.
Discover the latest market trends and uncover sources of future market growth for the Carbonates industry in Nigeria with research from Euromonitor's team of in-country analysts.
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