PROSPECTS AND OPPORTUNITIES
Energy drinks to grow well as young population expands
Energy drinks is expected to grow moderately over the forecast period. The substantial growth in penetration seen over the review period will continue moving forward, particularly due to heightened competitive activity and an increase in affordable energy drinks.
Economic stability will boost appeal of premium brands
Economic stability and lower inflation will help to drive both volume and constant value growth over the forecast period. While a weakened economy has pushed consumers towards mass brands, there is good potential for premium brands to gain further acceptance as disposable incomes recover.
New products are expected to widen the appeal of energy drinks
Competitive activity will continue to drive overall growth in energy drinks, particularly within the mass segment. The wider range of product types, particularly using interesting flavours, is expected to appeal to young adults who are the core base for energy drinks.
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Overview:
Understand the latest market trends and future growth opportunities for the Energy Drinks 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 Energy Drinks 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.
The Energy Drinks in Nigeria report includes:
- Analysis of key supply-side and demand trends
- Detailed segmentation of international and local products
- Historic volume and value sizes, company and brand market shares
- Five year forecasts of market trends and market growth
- Robust and transparent research methodology, conducted in-country
This report answers:
- What is the market size of Energy Drinks in Nigeria?
- To what extent are health considerations impacting consumption of Energy Drinks in Nigeria?
- How are changing social attitudes and legislation (eg sugar tax) reshaping demand and consumption?
- How are changing demographics (for example, an ageing or predominantly young population) determining consumption of Energy Drinks in Nigeria?
- Which are the leading brands in Energy Drinks in Nigeria?
- What potential exists for multinational or domestic soft drinks companies to expand in Nigeria?
- How are products distributed in Energy Drinks in Nigeria?
- How is the rise of e-commerce changing the retail and competitive landscape?
- How have home seclusion and social distancing measures following COVID-19 impacted sales of Energy Drinks?
- How are sustainability issues, such as environmentally-friendly packaging, legislation on recyclability, or the amount of plastic in bottles, impacting the soft drinks industry?
- Where is future growth expected to be most dynamic?
Energy Drinks in Nigeria - Category analysis
KEY DATA FINDINGS
Energy drinks is one of the most dynamic categories in soft drinks
Female population is an important consumer segment
Heavy competition boosts demand for energy drinks
Energy drinks to grow well as young population expands
Economic stability will boost appeal of premium brands
New products are expected to widen the appeal of energy drinks
Soft Drinks in Nigeria - Industry Overview
Soft drinks in 2024: The big picture
2024 key trends
Competitive landscape
Retailing developments
Foodservice vs retail split
What next for soft drinks?
Fountain sales in Nigeria
DISCLAIMER
The following categories and subcategories are included:
Energy Drinks
- Regular Energy Drinks
- Reduced Sugar Energy Drinks
Energy Drinks
These are the aggregated total of regular and reduced sugar functional drinks designed to boost energy levels. Often lightly carbonated, these contain high levels of caffeine and a number of added water-soluble vitamins, most often a selection of B vitamins including niacin, pantothenic acid, vitamin B6, and vitamin B12. Ingredients can also include amino acids such as taurine and glucuronolactone, as well as herbal products such as guarana and ginseng. Can be carbonated or still. Leading brands in off-trade volume include Red Bull, Monster and RockStar. Glucose-based energy beverages such as Lucozade Energy are included here.
See all of our definitionsWhy buy this report?
- Gain competitive intelligence about market leaders
- Track key industry trends, opportunities and threats
- Inform your marketing, brand, strategy and market development, sales and supply functions
This report originates from Passport, our Energy Drinks research and analysis database.
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