Market Overview

The energy drinks market in Nigeria is likely to register a CAGR of over 8.4% with an incremental growth of USD 374.8 million during the forecast period 2024-2029. The rise in prominence of energy drinks is attributed to their ability to swiftly deliver an energy boost, heighten alertness, and temporarily alleviate fatigue. This functional benefit strongly resonates with individuals seeking to sustain prolonged periods of mental or physical exertion. However, savvy marketing strategies have also played a crucial role in fueling the category’s growth. Manufacturers strategically link their products with themes of adventure and vitality through sponsorships of youth-oriented music festivals and extreme sports events. Endorsements from elite athletes and celebrities further bolster the perception of energy drinks as lifestyle products. By accentuating their role in short-term performance enhancement, energy drinks are closely associated with competitive pursuits.

The report provides a comprehensive overview of the Nigeria energy drinks industry, covering a study of the key players operating in the market. It includes an analysis of market segments and sub-segments, taking into consideration factors such as type, product type, packaging type, ingredient, and distribution channel. By examining these aspects, the report offers valuable insights into the potential of the energy drinks industry. Moreover, the report presents statistical information, including market size, market share, growth rate, and forecasts specifically tailored to the energy drinks industry. This data-driven analysis equips industry professionals with the necessary information to assess the current market landscape, make well-informed decisions, and identify growth opportunities within the sector.

Market Segmentation

The energy drinks market in Nigeria is segmented as below:
Type: regular, and sugar-free
Product type: energy drinks, and energy drink mixes and shots
Packaging type: bottles, cans, and others
Ingredient: amino acids, antioxidants, botanicals, caffeine, taurine, vitamins and derivatives, and others
Distribution channel: forecourt, supermarkets and hypermarkets, grocery stores, bars & HoReCa, and others

The Nigeria energy drinks market is segmented on the basis of type, product type, packaging type, ingredient, and distribution channel. On the basis of type, the energy drinks market in Nigeria has been segmented into regular, and sugar-free. By product type, the energy drinks market in Nigeria has been segmented into energy drinks, and energy drink mixes and shots. Based on packaging type, the energy drinks market in Nigeria is categorized into bottles, cans, and others. On the basis of ingredient, the energy drinks market in Nigeria has been segmented into amino acids, antioxidants, botanicals, caffeine, taurine, vitamins and derivatives, and others. By distribution channel, the energy drinks market in Nigeria has been segmented into forecourt, supermarkets and hypermarkets, grocery stores, bars & HoReCa, and others.

Competitive Landscape

The Nigeria energy drinks market is highly competitive. The competitive landscape of the industry has also been examined along with the profiles of the key players Sun Mark Limited, Suntory Holdings Limited, Rite Foods Limited, Deluxe Rich Sdn. Bhd., S. Spitz GmbH, Forever Living Products International Inc., Monster Beverage Corporation, Heineken N.V., Red Bull GmbH, The Coca-Cola Company.

The report is an indispensable tool for companies and organizations operating in the energy drinks industry. It offers a comprehensive overview of the market, empowering industry executives, policy makers, academics, and analysts to make well-informed decisions. The report provides valuable insights and analysis, presenting a cohesive and detailed perspective on the energy drinks market.

Why Buy This Report?

Provide statistical data or estimations for the Nigeria energy drinks market
Formulate regional strategies and determine strategic priorities based on local data analysis
Gain a comprehensive understanding of the energy drinks market in Nigeria
Identify promising investment opportunities by pinpointing growth sectors and emerging trends
Understand what the future of the energy drinks market in Nigeria looks like
Analyze the competitive landscape and identify the optimal timing for seizing opportunities

Table of Contents

TABLE OF CONTENTS
FIGURES AND TABLES
1. Scope and Methodology
1.1 Key Findings
1.2 Report Scope
1.3 Research Methodology
2. Market Overview
3. Nigeria Energy Drinks Market – Type Analysis
3.1 Regular
3.2 Sugar-free
4. Nigeria Energy Drinks Market – Product Type Analysis
4.1 Energy drinks
4.2 Energy drink mixes and shots
5. Nigeria Energy Drinks Market – Packaging Type Analysis
5.1 Bottles
5.2 Cans
5.3 Others
6. Nigeria Energy Drinks Market – Ingredient Analysis
6.1 Amino acids
6.2 Antioxidants
6.3 Botanicals
6.4 Caffeine
6.5 Taurine
6.6 Vitamins and derivatives
6.7 Others
7. Nigeria Energy Drinks Market – Distribution Channel Analysis
7.1 Forecourt
7.2 Supermarkets and hypermarkets
7.3 Grocery stores
7.4 Bars & HoReCa
7.5 Others
8. Company Profiles
8.1 Sun Mark Limited
8.2 Suntory Holdings Limited
8.3 Rite Foods Limited
8.4 Deluxe Rich Sdn. Bhd.
8.5 S. Spitz GmbH
8.6 Forever Living Products International, Inc.
8.7 Monster Beverage Corporation
8.8 Heineken N.V.
8.9 Red Bull GmbH
8.10 The Coca-Cola Company
DISCLAIMER

Companies Mentioned

Sun Mark Limited
Suntory Holdings Limited
Rite Foods Limited
Deluxe Rich Sdn. Bhd.
S. Spitz GmbH
Forever Living Products International, Inc.
Monster Beverage Corporation
Heineken N.V.
Red Bull GmbH
The Coca-Cola Company