Coca-Cola leads as 2019 carbonated drinks
Coca-Cola Nigeria maintains off-trade value dominance in carbonates in 2019, despite growing competition.
Euromonitor International, independent provider of strategic market research, revealed this in its report.
The report said that Coca-cola managed to increase its share, despite the fact that Nigerian Bottling Company, The Coca-Cola Co’s local bottler, had to add warning labels to Fanta and Sprite bottles to inform consumers of the health risks associated with mixing them with ascorbic acid (vitamin C).
The reports also disclosed that smaller pack sizes, such as 350ml, are expected to be preferred by manufacturers targeting price-sensitive consumers.
This move, according to Euromonitor International, follows Coca-Cola Nigeria’s success during the review period, as consumers found smaller pack sizes more affordable and convenient when on-the-go.
Carbonates continued to see strong off-trade volume and current value growth in 2019, despite a new regulation from the National Agency for Food and Drugs Administration and Control (NAFDAC) from 1 January which compelled soft drinks manufacturers to provide information on product ingredients and expiration dates.
Tonic water/bitters and other non-cola carbonates, categories within non-cola carbonates, recorded the fastest off-trade volume growth rates in 2019.
Manufacturers are expected to continue their aggressive advertising and brand-building activities. This approach, ensuring the widespread presence of brands on billboards, in print media, on television and radio, is expected to drive volume sales.
Originally marketed as a temperance drink and intended as a patent medicine, Coca-cola was invented in the late 19th century by John Stith Pemberton and was bought out by businessman Asa Griggs Candler, whose marketing tactics led Coca-Cola to its dominance of the world soft-drink market throughout the 20th century.
Based on Interbrand’s “best global brand” study of 2015, Coca-Cola was the world’s third most valuable brand, after Apple and Google. In 2013, according to Wikipedia, Coke products were sold in over 200 countries worldwide, with consumers drinking more than 1.8 billion company beverage servings each day. Coca-Cola ranked No. 87 in the 2018 Fortune 500 list of the largest United States corporations by total revenue.
Most common cola drink introduced under the company is Diet Coke, along with others including Caffeine-Free Coca-Cola, Diet Coke Caffeine-Free, Coca-Cola Zero Sugar, Coca-Cola Cherry, Coca-Cola Vanilla, and special versions with lemon, lime, and coffee.
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