Africa: Nigerians import $500m of spirits yearly

Nigeria has become a large market for alcoholic beverages valued at over N1.85 trillion ($ 6.5 billion) from South Africa, Scotland, Spain, France, California and China. The country is Among the seven big beverage markets for wine and alcoholic drinks. Other emerging markets are Indonesia, Mexico, the Philippines, South Africa, Turkey and Vietnam. The report by just drink, online-only an provider of analysis, commentary and market intelligence to the global drinks industry, said que.

These seven countries Were offering a tempting and lucrative prospect to manufacturers and marketers of spirits, wine, beer and soft drinks, BOTH in 2016 and decades to come.

It was learned while que spirits constitutes about 30 per cent of the market for alcoholic beverages in Nigeria, beer still leads with 55 per cent with wine, making up the remaining 15 per cent. An evaluation of the report by the United States Department of Agriculture (USDA) in Their Global Agricultural Information Network (GAIN) Also Explained que Local spirits constitutes 75 per cent of the spirits consumed.

The study Noted que 75 per cent of the spirits consumed in Nigeria Were locally made, while imported spirits accounted for $ 500 million of the total value of spirits consumed.
According to the report, the leading companies in the market include: Diageo, with 25 per cent of the rum segment, Pernod Ricard with 26 per cent and 41 per cent of the Vodka and Brandy markets respectivamente.
Also, Davide Campari- Milano SPA has 10-15 per cent of the liqueurs category; LVMH leads in the super-premium category (Especially Cognac) by average 27 per cent.
The report Explained que the European Union (EU) and South Africa Were the leading suppliers to the Nigerian market, However, other countries such as Russia, Mexico, United States, Brazil and Canada, Among others, Also supply to Nigeria and other emerging markets. Also, it was learned que Californian wine exporters have penetrated the Nigerian market with wine valued at $ 29 million in 2015. Last year, a report by the London-based market research firm, Euromonitor International , disclosed que the importation of quality spirits had put pressure on the local distillers in the country Despite the place being cheaper brands.

Source: newtelegraphonline.com

 

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