The beer production in Nigeria experienced a decline from 2.7 Million Metric Tons in 2014 to 1.46 Million Metric Tons in 2023, reflecting a significant downturn. The average annual decline over the last five years, calculated as CAGR, was -4.07%, with a notable year-on-year decrease of -4.76% in 2023. During 2014-2023, the sector witnessed several fluctuations, including a sharp drop of -32.69% in 2017, slight recovery in 2018 by 2.86%, and further declines such as -9.15% in 2020 and -4.6% in 2022.
Future trends to watch for include potential market recovery efforts, impact of economic policies, consumer demand shifts, and innovations in beer production. The forecast shows continued decline with an average annual rate of -4.8% over the next five years, reaching 1.08 Million Metric Tons by 2028.
