Nigeria Distilleries Limited, a subsidiary of Lexel Group Inc topped the spirits market in 2016.
A recent report released by Euro-Monitor International shows that the company led the total volume sales of spirits in 2016 because of its strong presence domestically and a wide range of affordable products.
According to the report, Nigeria Distilleries Limited’s gin and schnapps brands are very popular among spirit consumers in Nigeria, emphasizing that Seaman’s Aromatic Schnapps is a well-known brand among the consumers.
Euro-Monitor International further disclosed that local spirits brands dominated the spirits market which contributed to the growth of the segment by 3% in total volume in 2016 and with a projection of 5% increase over the next two years.
The report reads in part: “Spirits brands such as gin are available in small sachet sizes or small bottles, driving growth among low-income consumers. Cheap spirits are seen as effective alcoholic drinks, as they can provide required satisfaction, without much cost”.
The report, however, noted that the growth of the local spirits market in the country was due to the low purchasing power of spirit consumers who could not afford the premium imported spirits as a result of the economic downturn.
Nigeria Distilleries Limited is a subsidiary of Lexel Group Inc. The company is adjudged as the leader of the spirits market in Nigeria.
Some of its spirit brands are Lord’s Dry Gin, Regal Dry Gin, and Seaman’s Aromatic Schnapps which is considered as the number one prayer drink in the country.
SOURCE: Marketing Edge