The world’s second largest brewer, Heineken NV, said its beer sales volume in Nigeria has continued to fall below estimates.
Operating as Nigeria Breweries Plc, Heineken operates the largest brewing operation in Africa’s largest economy where it now faces stiff competition from AB inBev’s Interfact Breweries and Diageo’s Guinness Nigeria Plc, its closest competitor.
Heineken NV said in its latest trading update that it only negative spots were declines of beer sales in Nigeria, its major market in Africa plus the Democratic Republic of Congo, Cambodia, Poland and Spain.
Heineken also disclosed that lager sales also fell in the Asia-Pacific region.
Analysts in the alcoholic beverages who spoke to PageOne.ng said the market outlook is not expected to improve significantly for Heineken because of the growing pressure from its competitors are new entrants in general alcoholic beverage segments.