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Wine consumption in Nigeria fell by 9% in 2023, decreasing from 34.7 million liters in 2022 to 31.5 million liters.
This is according to a recent report by Euromonitor International.
The data shows that the decline in wine consumption is attributed to Nigeria’s high inflation rate, which reached 33.40% in July 2024.
“Rising prices have particularly affected the sales of red wine, the largest segment of the alcoholic wine market in Nigeria.”
“Although wine remains a niche category in Nigeria, it is experiencing gradual growth due to increasing interest in diverse alcoholic beverages and a rising number of female consumers.”
The National Bureau of Statistics data showed that Nigeria imports wine drinks from South Africa, Italy, Spain and Brazil.
