Juices - Nigeria

The Juices market in Nigeria has witnessed significant growth in recent years, driven by changing consumer preferences and local special circumstances. Customer preferences have shifted towards healthier beverage options, leading to an increased demand for juices. Additionally, the growing middle class in Nigeria has resulted in higher disposable incomes, allowing consumers to spend more on premium juice products. These factors, combined with local special circumstances, have contributed to the development of the Juices market in Nigeria.

Customer preferences: In line with global trends, Nigerian consumers are increasingly conscious about their health and wellness. They are seeking healthier alternatives to carbonated drinks and sugary beverages, leading to a rise in demand for juices. Consumers are attracted to the natural and nutritional benefits of juices, which are perceived as a healthier option compared to other beverages. As a result, there has been a shift towards the consumption of fresh, natural, and organic juices in Nigeria.

Trends in the market: One of the key trends in the Juices market in Nigeria is the growing popularity of cold-pressed juices. Cold-pressed juices are made by extracting juice from fruits and vegetables without applying heat, which helps retain more nutrients and enzymes. This trend is driven by the increasing awareness of the health benefits associated with cold-pressed juices, such as improved digestion, increased energy levels, and detoxification. Another trend in the market is the introduction of innovative flavors and blends. Juice manufacturers in Nigeria are constantly innovating and introducing new flavors and combinations to cater to the diverse tastes and preferences of consumers. This trend has been particularly popular among the younger generation, who are open to trying new and unique juice flavors.

Local special circumstances: Nigeria has a favorable climate for the cultivation of a wide variety of fruits, including citrus fruits, pineapples, mangoes, and watermelons. This abundance of locally grown fruits has contributed to the availability of fresh and high-quality ingredients for juice production. Local juice manufacturers have capitalized on this advantage by sourcing fruits locally and producing juices that are made from fresh and natural ingredients.

Underlying macroeconomic factors: The development of the Juices market in Nigeria is also influenced by underlying macroeconomic factors. The country's growing middle class and increasing disposable incomes have played a significant role in driving the demand for juices. As consumers have more purchasing power, they are willing to spend on premium juice products that offer higher quality and healthier options. Additionally, the urbanization and changing lifestyles in Nigeria have led to a rise in on-the-go consumption, creating opportunities for packaged juices. In conclusion, the Juices market in Nigeria is developing due to changing customer preferences towards healthier beverages, the introduction of innovative flavors and blends, the availability of locally grown fruits, and the country's growing middle class and increasing disposable incomes. These factors, combined with the underlying macroeconomic factors, have contributed to the growth and development of the Juices market in Nigeria.

Data coverage:

The data encompasses B2C enterprises. The at-home market covers retail sales via super- and hypermarkets, eCommerce, convenience stores, or similar sales channels. The out-of-home data encompasses all sales to hotels, restaurants, catering, cafés, bars, and similar hospitality service establishments. Combined numbers encompass both the at-home market and the out-of-home market. Both the at-home and the out-of-home market are valued at retail selling prices including all sales and consumption taxes.

Modeling approach:

Market sizes are determined through a Top-Down approach, building on specific predefined factors for each market segment. As a basis for evaluating markets, we use resources from the Statista platform as well as in-house market research, national statistical offices, international institutions, trade associations, companies, the trade press, and the experience of our analysts. In addition, we use relevant key market indicators and data from country-specific associations, such as GDP, consumer spending (e.g. consumer spending on Non-Alcoholic Drinks, consumer spending at Hotels, Restaurants etc.), and price level index. This data helps us estimate the market size for each country individually.

Forecasts:

In our forecasts, we apply diverse forecasting techniques. The selection of forecasting techniques is based on the behavior of the relevant market. For example, the exponential trend smoothing is well suited for forecasting the Non-Alcoholic Drinks market with a projected steady growth. The main drivers are GDP per capita and consumer spending per capita.

Additional notes:

The data is modeled using current exchange rates. The impact of the COVID-19 pandemic and the Russia-Ukraine war are considered at a country-specific level. The market is updated twice a year.