Nigeria ranked fourth globally in total volume sale of soft drinks in 2016, statistics from Euromonitor International, global market intelligence research publishers have revealed.
The statistics showed that 38.68 million litres of soft drinks was sold in the country in 2016, putting it behind only the United States (114.75), China (88.18) and Mexico (45.30) in the top markets ranking.
Mrs Martina Claus, Head of Market Development, German Engineering Federation, made this known on Wednesday while speaking at the ongoing Third International Trade Exhibition on Agrofood, Plastics, Printing and Packaging in Lagos.
Claus said 1.98 million litres of alcohol was also sold in Nigeria in 2016 , while total volume sales of drinking milk products was 147 tons.
She said :”Nigeria’s fast-growing population brings with it a continuing demand for soft drinks, especially as the climate is quite hot.
“Urbanisation also drives demand for ready to drink soft drinks amongst busy, on the go consumers, whilst lack of potable water is largely responsible for the consumption of 36.08 million litres of bottled water in 2016.”
According to her, the Nigerian food and beverage market remains viable for investment despite the challenges of high energy cost and volatile raw material prices.
Claus said one of the avenues for attracting prospective investors was the Drinktec Trade Fair for the beverage and liquid food industry which would take place in Munich, Germany from Sept. 11 to Sept. 15.
She said the event was expected to attract around 1,600 exhibitors from over 70 countries and more than 70,000 trade visitors from all over the world.
Also speaking, Mr Ahmed Omar, Executive Director, Nigeria Institute of Packaging, said there was need for Nigerians to take advantage of the huge opportunities provided by the food and beverage industry.
Omar urged small and medium scale businesses to collaborate on how to source, package and supply raw materials to big players in the global market in order to maximise their gains.
Over 100 technology leading exhibitors from 20 countries are participating in the exhibition which will end on March 30.
The exhibitors are from Austria, Benin, Brazil, China, Denmark, Egypt, France, Germany, India, Italy, Kenya, Netherlands, Nigeria, Poland, South Africa, Taiwan, Thailand, Togo, Turkey and the United Kingdom.