Nigeria ranked 4th largest market in soft drinks sales globally in 2016

Nigeria is the 4th largest market in soft drinks sales globally in 2016 with 38.68 million litres of soft drinks sold in 2016 alone.

This was disclosed on Wednesday by Mrs. Martina Claus, Head of Market Development, German Engineering Federation, at the just concluded Third International Trade Exhibition on Agrofood, Plastics, Printing and Packaging in Lagos.

According to her, the statistics on soft drinks sales were sourced from Euromonitor International, a global market Intelligence publisher.

Nigeria ranks behind only United States (114.75), China (88.18) and Mexico (45.30) in the top markets ranking with 38.68 million litres of soft drinks sold in Nigeria. Also, 1.98 million litres of alcohol was sold in Nigeria in 2016, while the total volume of milk products sold was 147 tons.

Claus attributed the ranking to Nigeria’s fast-growing population which brings with it a continuing demand for soft drinks especially with the hot climate, and urbanisation which drives demand for ready to drink soft drinks amongst busy, on-the-go consumers.

Lack of potable water was also highlighted as being responsible for the consumption of 36.08 million litres of bottle water in 2016.

She noted that the Nigerian food and beverage sector remains a viable sector for investment in spite of challenges in the manufacturing sector.

Claus advised stakeholders in the sector to seize the platform presented by Drinktec Trade Fair which would take place in Munich, Germany from Sept 11 to Sept 15 to increase investment in the sector. The event is expected to attract no less than 1,600 exhibitors from over 70 countries and more than 70,000 trade visitors from across the world.

The Executive Director, Nigeria Institute of Packaging, Mr. Ahmed Omar, said that there was need for Nigerians to harness the huge opportunities that exist in the food and beverage industry.

He urged small and medium scale businesses to work together on how to service, package and supply raw materials to the bigger companies in the global market in order to maximize their gains.

According to the News Agency of Nigeria (NAN), over 100 leading technology exhibitors from 20 countries took part in this year’s exhibition which ended on March 30.

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