Nigeria: Market for Spirits, Liqueurs And Other Spirituous Beverages 2024

Market Size for Spirits, Liqueurs And Other Spirituous Beverages in Nigeria

The Nigerien market for spirits, liqueurs and other spirituous beverages expanded modestly to $X in 2022, increasing by X% against the previous year. Overall, consumption recorded strong growth. Over the period under review, the market reached the maximum level at $X in 2020; however, from 2021 to 2022, consumption failed to regain momentum.

Production of Spirits, Liqueurs And Other Spirituous Beverages in Nigeria

In value terms, production of spirits, liqueurs and other spirituous beverages rose modestly to $X in 2022 estimated in export price. Overall, production saw a remarkable increase. The pace of growth was the most pronounced in 2017 when the production volume increased by X% against the previous year. Over the period under review, production of attained the peak level at $X in 2020; however, from 2021 to 2022, production failed to regain momentum.

Exports of Spirits, Liqueurs And Other Spirituous Beverages

Exports from Nigeria

In 2022, shipments abroad of spirits, liqueurs and other spirituous beverages increased by X% to X litres, rising for the third year in a row after three years of decline. In general, exports posted a significant increase. The most prominent rate of growth was recorded in 2016 when exports increased by X%. As a result, the exports reached the peak of X litres. From 2017 to 2022, the growth of the exports of remained at a lower figure.

In value terms, exports of spirits, liqueurs and other spirituous beverages fell to $X in 2022. Overall, exports saw a significant expansion. The most prominent rate of growth was recorded in 2016 when exports increased by X%. As a result, the exports attained the peak of $X. From 2017 to 2022, the growth of the exports of remained at a somewhat lower figure.

Exports by Country

Benin (X litres), the UK (X litres) and Niger (X litres) were the main destinations of exports of spirits, liqueurs and other spirituous beverages from Nigeria, with a combined X% share of total exports. Germany, Cambodia and Austria lagged somewhat behind, together accounting for a further X%.

From 2012 to 2022, the biggest increases were recorded for Cambodia (with a CAGR of X%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, the largest markets for spirits, liqueurs and other spirituous beverages exported from Nigeria were Benin ($X), the UK ($X) and Niger ($X), with a combined X% share of total exports. Cambodia, Austria and Germany lagged somewhat behind, together accounting for a further X%.

In terms of the main countries of destination, Cambodia, with a CAGR of X%, recorded the highest rates of growth with regard to the value of exports, over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

In 2022, the average export price for spirits, liqueurs and other spirituous beverages amounted to $X per litre, shrinking by X% against the previous year. In general, the export price, however, recorded moderate growth. The most prominent rate of growth was recorded in 2014 an increase of X% against the previous year. Over the period under review, the average export prices attained the maximum at $X per litre in 2021, and then dropped markedly in the following year.

There were significant differences in the average prices for the major foreign markets. In 2022, amid the top suppliers, the country with the highest price was Cambodia ($X per litre), while the average price for exports to Niger ($X per litre) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Austria (X%), while the prices for the other major destinations experienced more modest paces of growth.

Imports of Spirits, Liqueurs And Other Spirituous Beverages

Imports into Nigeria

In 2022, overseas purchases of spirits, liqueurs and other spirituous beverages decreased by X% to X litres, falling for the fourth year in a row after two years of growth. Overall, imports recorded a abrupt descent. The most prominent rate of growth was recorded in 2014 with an increase of X%. As a result, imports reached the peak of X litres. From 2015 to 2022, the growth of imports of failed to regain momentum.

In value terms, imports of spirits, liqueurs and other spirituous beverages dropped rapidly to $X in 2022. Over the period under review, imports continue to indicate a deep reduction. The pace of growth was the most pronounced in 2014 when imports increased by X%. As a result, imports reached the peak of $X. From 2015 to 2022, the growth of imports of remained at a lower figure.

Imports by Country

Italy (X litres), Ireland (X litres) and Mexico (X litres) were the main suppliers of imports of spirits, liqueurs and other spirituous beverages to Nigeria, with a combined X% share of total imports.

From 2012 to 2022, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by Mexico (with a CAGR of X%), while imports for the other leaders experienced more modest paces of growth.

In value terms, the largest spirits, liqueurs and other spirituous beverages suppliers to Nigeria were Ireland ($X), Italy ($X) and Mexico ($X), with a combined X% share of total imports.

In terms of the main suppliers, Mexico, with a CAGR of X%, saw the highest growth rate of the value of imports, over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

In 2022, the average import price for spirits, liqueurs and other spirituous beverages amounted to $X per litre, falling by X% against the previous year. Over the period under review, import price indicated resilient growth from 2012 to 2022: its price increased at an average annual rate of X% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, import price for spirits, liqueurs and other spirituous beverages increased by X% against 2019 indices. The growth pace was the most rapid in 2014 an increase of X% against the previous year. The import price peaked at $X per litre in 2016; however, from 2017 to 2022, import prices stood at a somewhat lower figure.

There were significant differences in the average prices amongst the major supplying countries. In 2022, amid the top importers, the country with the highest price was South Africa ($X per litre), while the price for China ($X per litre) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by South Africa (X%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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