Nigeria Food & Drink Report Q3 2014 - New Market Research Report

From: Fast Market Research, Inc.
Published: Tue Jul 29 2014

We continue to maintain our posit ive long-term outlook on the Nigerian economy and food and drink sector over our forecast period , despite some of the obstacles in the near term. We are forecasting that the Nigerian economy will expand by 7.0% in 2014, down slightly from an estimated 7.4% in 2013, owing to continued strong expansion in non-oil sectors. The positive impact of agriculture means that this important sector should contribute strongly to private consumption growth.

Similarly to much of the African continent, Nigeria is experiencing a growing middle class, accompanied by economic growth. The increasing spending power of this middle class is being targeted by multinationals who are continuing to invest in the country's food and drink sector.

Full Report Details at

The long-term outlook remains very bright. We are forecasting average annual real GDP growth of 7. 0 % over the next 10 years, and expect the Nigerian government to prioritise investment in vital infrastructure over our forecast period and beyond , which will greatly benefit the food and drinks sector, as well as the grocery retail sector .

Headline Industry Forecasts

* Per capita food consumption (local currency) 2014 = +5.91%; forecast compound annual growth rate (CAGR) 2013 to 2018 = +7.3%
* Alcoholic drinks volume sales 2014 = +4.00%; forecast CAGR 2013 to 2018 = +4.00%
* Mass grocery retail sales (local currency) 2014 = +33.50%; forecast CAGR 2013 to 2018 = +38.65%

Key Industry Trends And Developments

Heineken Plans Merger Of Nigerian Subsidiaries: Heineken announced in May 2014 that it intends to merge Nigerian Breweries with Consolidated Breweries. The company holds a 54.1% stake in Nigerian Breweries Plc and 53.8% stake in Consolidated and has filed a pre-merger notification with the Nigerian Securities and Exchange Commission. The proposed merger will maximise Heineken's potential to capitalise both on Nigeria's growing beer market and its competitive position with...

The Nigeria Food & Drink Report features Business Monitor International (BMI)'s market assessment and independent forecasts for food and drink expenditure, consumption, sales, and imports/exports and forecasts for the mass grocery retail sector. The report also includes analyses of major regulatory developments, the background macroeconomic outlook and competitive landscape comparing national and multinational companies by leading products and services, sales, investments, partners and expansion strategies.

BMI's Nigeria Food & Drink Report provides industry professionals and strategists, sector analysts, business investors, trade associations and regulatory bodies with independent forecasts and competitive intelligence on the food and drink industry and the mass grocery retail market in Nigeria.

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