Market for sweet wines in Nigeria is expected to be worth between $400 million and $420 million a year, and the number will continue to grow year after year, driven mostly by Gen Z and millennials.
According to the CEO of TradeDepot, a major B2B distribution company in Nigeria, Onyekachi Izukanne, Nigerians now consume around 50 million bottles of wine each year, with the number rising steadily.
Izukanne stated this at a press conference in Lagos while speaking on the theme, “Nigeria’s New Wine Drinkers: A Culture Shift in the Making”, held at The Ark by Anny Roberts in Lagos.
He said: “In fact, 70 per cent of our consumption comes from people under 45 and TradeDepot, a leading B2B distribution company in the country, is tapping into the growing market with Italian winery Bosio Family Estates.”
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,” he explained.
To leverage the demand, he said TradeDepot had entered into a partnership with Bosio Family Estates, a renowned Italian winery famous for its Moscato wines, to create a product that is sweet, high-quality, accessible, and enjoyable that consumers consistently choose as their preference.
“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 result is Amabile Di Rosa, which means “the sweet friendliness of Rose”.
Izukanne described it as “sweet and fun to drink, yet serious, uncomplicated, and well balanced.”
