DrinkTec stirs soft drink market as Nigeria ranks fourth in global sales
DrinkTec, a leading trade fair for beverage and liquid food, last week created an increase in the soft drink market in Nigeria as many retailers converged at the Land Mark event centre, Lagos to showcase and sell various soft drink brands.
The event attracted around 1,600 exhibitors from over 70 countries and more than 70,000 trade visitors from all over the world.
Consumers and retailers who were present at the event expressed their excitement over the number of soft drink brands Nigeria is currently consuming, amid the economic downturn.
The Lagos edition of the fair, which lasted for three days, is a precursor to the major DrinkTec fair that will take place at the Messe Munchen exhibition centre in Munich, Germany from September 11th to 15th.
This is as 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.
Martina Claus, head of market development, German Engineering Federation, made this known while speaking at the 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 a total volume sale of drinking milk products was 147 tons.
According to her, “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.”
Claus pointed out that the Nigerian food and beverage market remains viable for investment despite the challenges of high energy cost and volatile raw material prices.
She 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 September 11 to Sept. 15.
Speaking at the event, 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.
According to the organisers of the fair, on display at the Drinktec fair in Lagos and Munich, is the entire process chain in the beverage and liquid food industry: from manufacturing, filling and packaging through to marketing. Raw materials, beverage ingredients and logistics solution will be included in the display.
Over 100 technology leading exhibitors from 20 countries are participating in the exhibition which will end on March 30.
The exhibitors came 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.
STEPHEN ONYEKWELU