In 2023, the beer market size volume per capita in Nigeria stood at 8.36 kilograms. Based on the forecasted data, there is a noticeable year-on-year decrease in the beer consumption per capita, with 2024 at 7.96 kilograms, falling to 7.56 kilograms in 2025, 7.17 kilograms in 2026, 6.79 kilograms in 2027, and 6.41 kilograms in 2028. This indicates a clear downward trend over the forecast period.
Year-on-year percentage variation from 2024 to 2028 is as follows:
- 2024: -4.78%
- 2025: -5.03%
- 2026: -5.15%
- 2027: -5.30%
- 2028: -5.59%
The compound annual growth rate (CAGR) suggests an average annual decline of approximately 5.17% over the last five years.
Future Trends to Watch For:
Given the observable downward trend, future market dynamics might include shifts towards non-alcoholic beverages, increasing health consciousness, or economic conditions affecting disposable income. Monitoring consumer preferences and market innovations will be critical to understanding the evolving landscape of beer consumption in Nigeria.