Forecast: Coffee Consumption in Nigeria

In 2023, coffee consumption in Nigeria stood at approximately 40.20 thousand units (Bags of 60 kg). Based on the forecasted data, we observe a consistent but modest increase in consumption from 2024 to 2028, with values rising from 40.24 thousand units in 2024 to 40.38 thousand units by 2028. Year-on-year variations between 2024 and 2025, 2025 and 2026, 2026 and 2027, and 2027 and 2028 are minimal, indicating stability in growth. The Compound Annual Growth Rate (CAGR) for the period 2024 to 2028 suggests an average annual growth rate of approximately 0.1%.

Future trends to watch for in Nigeria's coffee market include potential shifts in consumer preferences towards specialty coffee, the impact of economic factors on disposable income and consumption patterns, and possible changes in import tariffs or local production capabilities that could affect supply chains and coffee prices.

Overall, while growth in coffee consumption is forecasted to be stable, keeping an eye on these trends could help anticipate any significant market changes.