Domestic Coffee Machine Market Overview in Nigeria
The revenue of the domestic coffee machine market in Nigeria amounted to $2.6M in 2010, picking up by 86% against the previous year. This figure reflects the total revenues of producers and importers (excluding logistics costs, retail marketing costs, and retailers' margins, which will be included in the final consumer price). Overall, the total market indicated remarkable growth from 2007 to 2010: its value increased at an average annual rate of +8.1% over the last three-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2010 figures, domestic coffee machine consumption decreased by -7.1% against 2008 indices. The growth pace was the most rapid in 2010 with an increase of 86% against the previous year. Domestic coffee machine consumption peaked at $2.8M in 2008; however, from 2009 to 2010, consumption stood at a somewhat lower figure.