Newly released market study: Nigeria Food & Drink Report Q4 2015

From: Fast Market Research, Inc.
Published: Mon Oct 05 2015

Despite the smooth passing of the election, we expect economic growth in Nigeria to slow in 2015 and 2016 as the economy adjusts to the harsh reality of lower oil prices. Private consumption and public expenditure will be particularly hard hit. We believe that Nigerian consumers are yet to feel the full effects of the 20% naira devaluation late last year and, with further depreciation to come, there will be increased pain for consumers over the coming quarters. We forecast real private consumption growth to slow considerably; from an estimated 7.5% in 2014, to 4.0% in 2015 and 3.0% in 2016. Our Africa team expects inflation to be in the double digits in 2015, which will erode consumers' purchasing power and weigh on food and drink sales.

Full Report Details at

Headline Industry Forecasts

Per capita food consumption (local currency) 2015 = +7.0%; forecast compound annual growth rate (CAGR) 2014 to 2019 = +7.0%
Beer volume sales 2015 = +0.5%; forecast CAGR 2014 to 2019 = +2.0%
Mass grocery retail sales (local currency) 2015 = +36.1%; forecast CAGR 2014 to 2019 = +41.3%

Key Industry Trends And Developments

Glanbia Quits Nigerian JV : In April 2015, UK-based consumer goods company PZ Cussons acquired Glanbia's stake in their Nigerian joint venture (JV) Nutricima for GBP21mn (USD31.15mn). The cash transaction ends their JV, which was established in 2003 and will give PZ Cussons full control of the business. Nutricima has two facilities in Nigeria, with consumer brands including Nunu, Olympic and Yo. The company posted GBP1.3mn (USD1.92mn) in profits on GBP74.4mn (USD110.36mn) of revenues in FY13/14.

The Nigeria Food & Drink Report features BMI Research'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.

Key Benefits

* Benchmark BMI's independent food and drink industry forecasts for Nigeria to test other views - a key input for successful budgeting and strategic business planning in the Nigerian food and drink market.
* Target business opportunities and risks in Nigeria through our reviews of latest industry trends, regulatory changes and major deals, projects and investments.
* Exploit latest competitive intelligence

About Fast Market Research

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Company: Fast Market Research, Inc.
Contact Name: Bill Thompson
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Contact Phone: 1-413-485-7001

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