According to the latest data (2016) compiled from the Standards Organisations of Nigeria (SON) and Asoko’s company database, there are 268 registered companies producing packaged drinking water in Nigeria that meet SON requirements.
In Nigeria, the bottled water competitive landscape is highly fragmented. This is due to the numerous brands of pouch/sachet water and low priced PET bottles. However, the packaged drinking water industry continues to maintain its momentum, driven by increased demand for goods, economic and technological developments.
87% of these firms rely on water products as their sole revenue stream while the remaining 13% are more diversified in their product offering.
Development in sectors like transport, infrastructure, fuel prices, innovation, and regulation also impact the cost of trade. The market is restrained by high fuel cost, old technology, and expensive manpower.
Top 5 states are, Lagos (42 registered companies), Oyo state (28), Federal Capital Territory (23), Kaduna (20) and Imo (15).