"Wine in Nigeria" Published

From: Fast Market Research, Inc.
Published: Fri Sep 25 2015

As with other alcoholic drinks, 2014 growth of wine was weaker than the review period average due to depressed consumer spending, arising from the continuing impact of the hike in fuel prices in 2012 and the devaluation of the local currency. Nevertheless, wine is the second fastest growing of beer, spirits, and wine in 2014, partly due to the fairly low unit price of the largest wine category, still red wine, and the already growing popularity of wine among all income groups. Wine growth is driven by numerous factors: Continued population growth, a desire for new types of alcoholic drinks, an increased female drinking population, an increase in health consciousness among Nigerians, and an increase in westernisation. Traditionally, Nigerian wine drinkers prefer local 'palm wine' as opposed to western, packaged wine, but as many drinkers are now seeking a healthier alternative to beer and spirits, the wine category has grown. Champagne and red wine in particular have driven growth; the former as Nigerians continue to engage in nightlife activities and the latter partly as a result of the continued success of Don Simon and Baron wines, being inexpensively packaged and widely available.

Full Report Details at
- http://www.fastmr.com/prod/1036314_wine_nigeria.aspx?afid=301

Competitive Landscape

Ekulo Group of Companies Ltd led 2014 sales with more than 30% value share. The company is the leading importer of wine in Nigeria and holds the franchise for leading brands in Nigeria like Carlo Rossi, Hardy’s, E & J Gallo, Moët et Chandon, Dom Perignon, and Van Loveren. The company’s brands also performed best during the year, due to increased visibility and distribution, particularly of the Carlo Rossi brand.

Industry Prospects

Wine will continue to increase in popularity, and is expected to see total volume sales rise at a CAGR of 12% over the forecast period. Growth would be driven by a desire for new tastes, an increase in women drinkers, and a growing middle class population. International labels will also continue to exploit the advantages the Nigeria wine category offers, and such labels will invest in advertising to create awareness of wine.

Report 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.

The Wine in Nigeria market research report includes:

* Analysis of key supply-side and demand trends

About Fast Market Research

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