The forecasted growth of carbonates faces potential threats, primarily from the burgeoning health-conscious trend among consumers and heightened competition from other soft drinks. An escalating concern among Nigerians about the adverse effects of high sugar consumption on health and weight poses a significant challenge for carbonates.
Economic slowdowns and persistent inflationary pressures are compelling consumers to explore more affordable options. Manufacturers are responding by focusing on smaller pack sizes to sustain volume sales.
Volume growth across different carbonates categories in 2023 slowed compared to the previous year, attributed to elevated production costs leading to increased retail prices, reduced disposable income, economic stagnation, and currency devaluation. The forecast period is expected to maintain a steady growth trajectory, mirroring trends observed in the review period, with potential for slight recovery in the Nigerian economy.
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Understand the latest market trends and future growth opportunities for the Carbonates industry in Nigeria with research from Euromonitor International's team of in-country analysts – experts by industry and geographic specialisation.
Key trends are clearly and succinctly summarised alongside the most current research data available. Understand and assess competitive threats and plan corporate strategy with our qualitative analysis, insight and confident growth projections.
If you're in the Carbonates industry in Nigeria, our research will help you to make informed, intelligent decisions; to recognise and profit from opportunity, or to offer resilience amidst market uncertainty.
Carbonates
Sweetened, non-alcoholic drinks containing carbon dioxide are included here. All carbonated products containing fruit juice (“sparkling juices”) are included here, unless they are tea-based (these are included in carbonated RTD tea) or carbonated Energy drinks, which are included in Energy Drinks. Carbonated bottled water is also excluded. Carbonates are an aggregation of cola carbonates and non-cola carbonates, whether regular or low calorie. Euromonitor International includes both naturally and artificially-sweetened carbonates.
See All of Our DefinitionsThis report originates from Passport, our Carbonates research and analysis database.
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