Nigeria’s sweet wine market hits $420m driven by youthful tastes
Nigeria’s sweet wine market, valued between $400m and $420m annually, is witnessing steady and robust growth, driven largely by a shift in consumer tastes, particularly among the country’s increasingly influential younger population.
This surge is being powered by a new wave of consumers, particularly Gen Z and millennials, whose shifting preferences redefine how wine is consumed across the country.
The Chief Executive Officer of TradeDepot, Onyekachi Izukanne, disclosed the new trend in a statement issued and obtained by our correspondent on Monday in Abuja.
The statement is titled, “Nigeria’s New Wine Drinkers: A Culture Shift in the Making.”
Nigeria’s sweet wine market hits $420m driven
Nigeria’s sweet wine market, valued between $400m and $420m annually, is witnessing steady and robust growth, driven largely by a shift in consumer tastes, particularly among the country’s increasingly influential younger population.
This surge is being powered by a new wave of consumers, particularly Gen Z and millennials, whose shifting preferences redefine how wine is consumed across the country.
The Chief Executive Officer of TradeDepot, Onyekachi Izukanne, disclosed the new trend in a statement issued and obtained by our correspondent on Monday in Abuja.
The statement is titled, “Nigeria’s New Wine Drinkers: A Culture Shift in the Making.”
This generational shift, he said, is not only driving growth but also prompting both local and international wine brands to rethink their marketing and product strategies in the Nigerian market.
Izukanne noted that younger Nigerians are increasingly drawn to sweet, fruity wine profiles, which align more with their evolving tastes and social lifestyles.
The statement read, “Wine is an interesting category. In Nigeria, every year we drink about 50 million bottles of wine.
” So, Nigeria is a $400m to $420m wine consumption market every year.
“Now, the interesting thing is these volumes keep growing year on year, and this growth is driven mostly by Gen Z and millennials.
” 70 per cent of our consumption is by people under 45 years.
” What is interesting is that this growth is also driven by a preference for sweet wines.”
Izukanne noted that 70 per cent of Nigeria’s wine consumption comes from individuals under the age of 45, underscoring a major shift in preferences among younger drinkers.
To meet this growing demand, TradeDepot has partnered with Bosio Family Estates, a renowned Italian winery, to introduce a sweet, high-quality wine tailored specifically to West African consumers.
The younger demographic, according to Izukanne, favours sweet wines because they are “easier on the palate, sweeter and they’re more compatible with spicy food or great for drinking alone.”
He also noted a 40 per cent global increase in sweet wine consumption during the COVID-19 pandemic.
“All of these things together show that there is a very significant opportunity for sweet wines in our market.
“What we have identified is not only the opportunity but also that there is a big gap for quality sweet wine to address this demand.
“So right there staring in our face was an underserved market.
“Over a 10-month development period, the teams tested flavours, adjusted blends, and gathered feedback from consumers in Nigeria, Ghana, and other West African countries,” the statement concluded.
Source: Punch
