We continue to maintain our posit ive long-term outlook on the Nigerian economy and food and drink sector over our forecast period , despite some of the obstacles in the near term. We are forecasting that the Nigerian economy will expand by 7.0% in 2014, down slightly from an estimated 7.4% in 2013, owing to continued strong expansion in non-oil sectors. The positive impact of agriculture means that this important sector should contribute strongly to private consumption growth.
Similarly to much of the African continent, Nigeria is experiencing a growing middle class, accompanied by economic growth. The increasing spending power of this middle class is being targeted by multinationals who are continuing to invest in the country’s food and drink sector.
The long-term outlook remains very bright. We are forecasting average annual real GDP growth of 7. 0 % over the next 10 years, and expect the Nigerian government to prioritise investment in vital infrastructure over our forecast period and beyond , which will greatly benefit the food and drinks sector, as well as the grocery retail sector .
Headline Industry Forecasts
Key Industry Trends And Developments
Heineken Plans Merger Of Nigerian Subsidiaries: Heineken announced in May 2014 that it intends to merge Nigerian Breweries with Consolidated Breweries. The company holds a 54.1% stake in Nigerian Breweries Plc and 53.8% stake in Consolidated and has filed a pre-merger notification with the Nigerian Securities and Exchange Commission. The proposed merger will maximise Heineken’s potential to capitalise both on Nigeria’s growing beer market and its competitive position with…
The Nigeria Food & Drink Report features Business Monitor International (BMI)’s market assessment and independent forecasts for food and drink expenditure, consumption, sales, and imports/exports and forecasts for the mass grocery retail sector. The report also includes analyses of major regulatory developments, the background macroeconomic outlook and competitive landscape comparing national and multinational companies by leading products and services, sales, investments, partners and expansion strategies.
BMI’s Nigeria Food & Drink Report provides industry professionals and strategists, sector analysts, business investors, trade associations and regulatory bodies with independent forecasts and competitive intelligence on the food and drink industry and the mass grocery retail market in Nigeria.
BMI Industry View
Summary of BMI’s key industry forecasts, and views, covering food and drink manufacturing and consumption and the retail market.
Business Environment Rankings
BMI’s Food & Drink Business Environment Rankings provide a country-comparative Risk-Reward Rankings index aimed at investors, food and drink manufacturers and mass grocery retailers.
The rankings methodology makes sophisticated use of over 40 industry, economic and demographic data points.
Industry SWOT Analysis
Analysis of the major Strengths, Weaknesses, Opportunities and Threats within the food, drink and mass grocery retail sectors, and within the broader political, economic and business environment.
BMI’s food chapter is divided into sections such as Meat, Fish, Confectionary, Dairy and Canned Foods, and provides insight into a market’s food industry, centred on a forecast to end-2018 for the sector. The chapter includes the following elements:
Industry Forecast Scenario – Historical data series and forecasts to end-2018 for growth of key indicators within a market’s food industry. Including consumption, food consumption as % of GDP, canned food sales, confectionery sales and food and drink imports and exports, among others.
Industry Developments – A summary of corporate developments, including news on M&As, FDI, expansions, closures and financial results, in addition to analysis and explanation of the latest industry events and how these could influence further investment.
Market Overview – An overview of the structure of the market, introducing the key players and discussing underlying trends.
Segmented the same way as BMI’s food chapter, the drink section provides insight into the market’s drink industry, centred on a forecast to end-2018 for the sector. Forecast indicators include alcoholic and soft drink sales by value, volume and sub-sector and tea and coffee sales, among others.
Mass Grocery Retail Forecasts
Segmented the same way as BMI’s food and drink chapters, the mass grocery retail section provides insight into a market’s grocery retail industry, centred on a forecast to end-201 for the sector. Forecast indicators include mass grocery retail sales by format (including supermarkets, hypermarkets, convenience and discount stores) and a breakdown for the organised retail sector versus the traditional sector, among others.
Competitive Landscape & Profiles
Illustration of the industry via rankings tables comparing revenues, number of outlets and number of employees. BMI analyses each company’s market position, business strategies and investment potential.
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