Cider, Perry & Rice Wine - Nigeria

The Cider, Perry & Rice Wine market in Nigeria has been experiencing significant growth in recent years.

Customer preferences: Nigerian consumers have shown a growing interest in alternative alcoholic beverages, such as cider, perry, and rice wine. This shift in consumer preferences can be attributed to several factors. Firstly, there is a growing trend towards healthier lifestyles and a desire for lighter, lower-alcohol options. Cider, perry, and rice wine offer a refreshing alternative to traditional beer and spirits, with lower alcohol content and often a fruitier flavor profile. Additionally, these beverages are often perceived as more natural and less processed, appealing to consumers who are looking for more authentic and artisanal products.

Trends in the market: One of the key trends in the Nigerian Cider, Perry & Rice Wine market is the rise of local producers. While international brands still dominate the market, there has been a noticeable increase in the number of Nigerian companies entering the market. These local producers are capitalizing on the growing demand for alternative alcoholic beverages and are offering unique flavors and styles that cater to the local palate. This trend is driven by the desire to support local businesses and promote Nigerian culture and heritage. Another trend in the market is the increasing availability and accessibility of these products. Cider, perry, and rice wine were once considered niche products and were only available in select locations. However, they are now becoming more widely distributed and can be found in supermarkets, liquor stores, and even online platforms. This increased accessibility has contributed to the growing popularity of these beverages among Nigerian consumers.

Local special circumstances: Nigeria has a rich agricultural heritage, with a wide variety of fruits and grains grown in the country. This has created an opportunity for local producers to use locally sourced ingredients to create unique and flavorful ciders, perries, and rice wines. For example, Nigerian producers are utilizing fruits such as pineapple, mango, and guava to create refreshing and tropical flavors that resonate with the local consumer base. This emphasis on local ingredients has also helped to differentiate Nigerian products from their international counterparts and has contributed to the growth of the local market.

Underlying macroeconomic factors: The Nigerian economy has been experiencing steady growth in recent years, which has contributed to an increase in disposable income and consumer spending. This has created a favorable environment for the growth of the Cider, Perry & Rice Wine market, as consumers have more discretionary income to spend on premium and alternative alcoholic beverages. Additionally, the country's young and growing population presents a significant market opportunity, as younger consumers are more open to trying new and innovative products. In conclusion, the Cider, Perry & Rice Wine market in Nigeria is developing due to changing customer preferences, the rise of local producers, increased availability and accessibility, local special circumstances such as the use of locally sourced ingredients, and favorable macroeconomic factors such as economic growth and a young population. These factors have contributed to the growth and popularity of these alternative alcoholic beverages in the Nigerian market.

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 alcoholic beverages, 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 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.