sitemaps.org/schemas/sitemap/0.9/sitemap.xsd BrandArena: Milk Consumption Still Low In Nigeria - Report

Friday, 28 February 2014

Milk Consumption Still Low In Nigeria - Report

While the market continues to show strong growth in volume and value sales, milk consumption in Nigeria still remains low in per capita terms, according to a research report recently released by Euromonitor International on its website.

The report revealed that advertising, discounting and promotional sales and corporate social responsibility campaigns such as Peak Milk’s “drink milk everyday” campaign, are helping to spur growth. The variety of goods in drinking milk products is also increasing. Producers are introducing new flavours to cater for consumer demand for products that combine nutrition with newer tastes, fruit flavours are particularly popular.

The shift of emphasis to smaller packaging units by virtually all manufacturers also helped boost sales among poor and price sensitive consumers, who previously considered drinking milk products as a luxury.

On competitive landscape, "the research revealed that Promasidor leads the market, in 2013 and the company is expected to hold 22% of retail value sales of drinking milk products. It added that the company has concentrated on smaller packaging of its products, which appeals to price sensitive consumers and children of school age.
"Advertising and school event sponsorship has also helped widen its consumer base. Its Cowbell brand is the most popular drinking milk product among Nigerian children, a major group of consumers, chocolate and other flavours are offered, while marketing using a happy cow reinforces its popularity among children. The company’s range of brands and products is larger than its leading competitors, FrieslandCampina WAMCO for example, has just one major brand: Peak", says Euromonitor.

Over the forecast period, the report submitted that drinking milk products is expected to grow at a 2% CAGR in retail constant value terms. It is expected that manufacturers will seek innovative ways of increasing their value share through product development and packaging.

It added that the increasing popularity of flavoured milk drinks among consumers as a substitute for impulse products like soft drinks will further fuel the growth of drinking milk products in the forecast period. The forecast growth rate is therefore expected to be stronger than the review period average, in constant value terms.

Established in 1972, Euromonitor International is the world leader in strategy research for consumer markets. Comprehensive international coverage and leading edge innovation make our products an essential resource for companies locally and worldwide.

As an independent company, we offer unmatched detail and unbiased content for every region, country, category and channel. From socio-economic context to intimate detail on the smallest products or markets, Euromonitor provides market research and surveys focused on your organisation’s needs.

3 comments:

  1. Thanks for this resourceful info. Helping me in my findings

    ReplyDelete
  2. Hmm... Government need to support the segment. Milk consumption is important and I wonder why our govt can help us in growing domestic industry.

    ReplyDelete
  3. I think it would be good to verify market shares better before to publish them. Define the drinking milk market and discover who the market leader is.

    ReplyDelete