Despite Ecuador's economic difficulties and the April 2024 VAT increase from 12% to 15%, alongside the reinstatement of a higher tax on added sugar, juice prices have demonstrated remarkable stability. This resilience reflects the industry's strategic approach, with many companies opting to absorb i...
In 2024, off-trade volume sales of juice are anticipated to decline in Japan. However, due to increases in unit prices, off-trade sales are expected to show growth in current value terms. The decrease in off-trade volume sales can be attributed to a reduced demand for products in larger sizes, as ma...
This Megatrends report highlights long-term trends resulting from shifts in consumer values and behaviour. It provides a summary of each of Euromonitor International's 10 focus megatrends and insights as to how each trend has manifested in Nigeria. Euromonitor's Megatrends in Nigeria re...
Retail volume sales of juices continued to decline in 2024, following long-term challenges that have persisted over the review period, independent of the broader economic situation. A key driver behind this sustained decline is the perception that juice is unhealthy, primarily due to its high sugar ...
Nigeria's population is projected to nearly double by 2040, as it reaches 313 million citizens. Rapid urbanisation will continue, while the median age will be 21.1 as Gen Alpha is expected to dominate the consumer landscape. Soaring inflation and high unemployment continue to deepen social inequalit...
Sauces, dips, and condiments has faced notable challenges in 2024 due to Nigeria's prevailing economic difficulties, including high inflation. Despite these obstacles, the category has managed to achieve marginal positive volume growth, as many of its products are essential cooking ingredients. Howe...
High inflation in Nigeria, persisting from 2023 into 2024, has significantly impacted the performance of cooking ingredients and meals by severely weakening consumer spending power. While these products are largely essential, many consumers have been compelled to reduce consumption or switch to more...
Inflationary pressures in 2024 have significantly hampered the performance of meals and soups in Nigeria, with volume sales experiencing notable declines. Products in this category are widely regarded as non-essential by the majority of Nigerian consumers, and the weakened disposable income of middl...
Staple foods have experienced a challenging year in 2024, marked by weak volume performance despite their essential nature within the Nigerian diet. Inflationary pressures and rising production costs have significantly impacted the industry, driving unit prices upwards and weakening consumer purchas...
During 2024 off-trade volume sales of juice in Malaysia experienced a marginal growth trajectory amid price-sensitive consumer behaviours as well as a related strong substitution trend. Juice in Malaysia continues to face strong substitution risks from other soft drinks categories, especially concen...