Bottled Water - Nigeria

Nigeria

Highlights

Revenue, at home (e.g., revenue generated in supermarkets and convenience stores) in the Bottled Water market amounts to US$4.68bn in 2024.
Revenue, out-of-home (e.g., revenue generated in restaurants and bars) amounts to US$38.29m in 2024.
Revenue, combined amounts to US$4.72bn in 2024.
The revenue, at home is expected to grow annually by 12.33% (CAGR 2024-2029).
In global comparison, most revenue, at home is generated China (US$63bn in 2024).
In relation to total population figures, the average revenue per capita, at home of US$20.41 are generated in 2024.
In the Bottled Water market, volume, at home is expected to amount to 6.20bn L by 2024.
Volume, out-of-home is expected to amount to 36.32m L in 2024.
Volume, combined is expected to amount to 6.24bn L in 2024.
The Bottled Water market is expected to show a volume growth, at home of 0.4% in 2025.0.
The average volume per person, at home in the Bottled Water market is expected to amount to 27.07L in 2024.

Key regions:

Market definitionIn-Scope/Out-of-scopeMarket structureReportsMethodology

The Bottled Water market in Nigeria has been experiencing significant growth in recent years. Customer preferences for bottled water have been influenced by several factors, leading to an increase in demand for this product. Additionally, local special circumstances and underlying macroeconomic factors have played a role in shaping the market trends.

Customer preferences: Nigerian consumers have increasingly turned to bottled water as their preferred choice of hydration. This can be attributed to several factors. Firstly, concerns about the safety and quality of tap water have led consumers to seek alternative sources of drinking water. Bottled water provides a convenient and reliable solution, ensuring that consumers have access to clean and safe drinking water. Secondly, the rising awareness of health and wellness has also contributed to the growth of the bottled water market. Consumers are becoming more conscious of their overall well-being and are choosing bottled water as a healthier option compared to sugary beverages. Lastly, the convenience factor cannot be overlooked. Bottled water is readily available in various sizes and formats, making it easy for consumers to carry and consume on-the-go.

Trends in the market: One of the key trends in the Nigerian bottled water market is the increasing demand for premium and flavored bottled water. As disposable incomes rise, consumers are willing to spend more on higher-quality products. Premium bottled water offers unique packaging, enhanced mineral content, and a superior taste, appealing to consumers seeking a more luxurious experience. Flavored bottled water, such as those infused with fruit extracts or herbal ingredients, are also gaining popularity among health-conscious consumers who want a refreshing and flavorful alternative to plain water. Another trend in the market is the growing emphasis on sustainability and eco-friendly packaging. Consumers are becoming more environmentally conscious, and they are actively seeking products that have minimal impact on the environment. This has led to an increased demand for bottled water brands that use recyclable materials and promote sustainable practices in their production and distribution processes.

Local special circumstances: Nigeria has a large population and rapid urbanization, which has contributed to the growth of the bottled water market. As more people move to urban areas, the demand for bottled water increases due to factors such as limited access to clean tap water and the convenience of packaged water for on-the-go consumption. Additionally, Nigeria's tropical climate and high temperatures make bottled water a necessity for many individuals to stay hydrated throughout the day.

Underlying macroeconomic factors: The Nigerian economy has experienced steady growth in recent years, resulting in an increase in disposable incomes. This has had a positive impact on the bottled water market, as consumers are now able to afford premium products and are willing to spend more on healthier alternatives. Furthermore, the government's efforts to improve infrastructure, including water supply systems, have been slow, leading to a continued reliance on bottled water as a primary source of drinking water. In conclusion, the Bottled Water market in Nigeria is developing due to customer preferences for safe and convenient drinking water, the growing emphasis on health and wellness, and the increasing disposable incomes of consumers. The market is also influenced by local special circumstances such as rapid urbanization and a tropical climate. Overall, the bottled water market in Nigeria is expected to continue its growth trajectory in the coming years.

Data coverage:

The data encompasses B2C enterprises. The at-home market covers retail sales via super- and hypermarkets, eCommerce, convenience stores, or similar sales channels. The out-of-home data encompasses all sales to hotels, restaurants, catering, cafés, bars, and similar hospitality service establishments. Combined numbers encompass both the at-home market and the out-of-home market. Both the at-home and the out-of-home market are valued at retail selling prices including all sales and consumption taxes.

Modeling approach:

Market sizes are determined through a Top-Down approach, building on specific predefined factors for each market segment. As a basis for evaluating markets, we use resources from the Statista platform as well as in-house market research, national statistical offices, international institutions, trade associations, companies, the trade press, and the experience of our analysts. In addition, we use relevant key market indicators and data from country-specific associations, such as GDP, consumer spending (e.g. consumer spending on Non-Alcoholic Drinks, consumer spending at Hotels, Restaurants etc.), and price level index. This data helps us estimate the market size for each country individually.

Forecasts:

In our forecasts, we apply diverse forecasting techniques. The selection of forecasting techniques is based on the behavior of the relevant market. For example, the exponential trend smoothing is well suited for forecasting the Non-Alcoholic Drinks market with a projected steady growth. The main drivers are GDP per capita and consumer spending per capita.

Additional notes:

The data is modeled using current exchange rates. The impact of the COVID-19 pandemic and the Russia-Ukraine war are considered at a country-specific level. The market is updated twice a year.