Imported juice has flooded the market for years without any strong challenge, yet these products are relatively easy to produce and market.
Nigeria spends about N165 billion annually to import fruit juice, according to Mr. Frank Jacobs, the president of the Manufacturers’ Association of Nigeria. This has resulted in an estimated loss of one billion dollars annually. This represents the market size of this sector, get just 10% share of that market and you would be on your way to becoming the next millionaire in Nigeria.
“Importation of concentrates has adversely affected local fruits cultivation for juice processing,’’ the MAN president said.
Imported drinks are not even that healthy considering they are made from concentrate whose composition no one is really sure of. Juice drinks and juice cocktails made from concentrate have refined sugars and sometimes flavors are added and these are not healthy when consumed in large quantities.
There is therefore a great business opportunity for an entity that can squeeze and bottle fresh juice but with lower shelf life. This can be targeted at regional major urban centers in Nigeria. The differentiating points, which can be used for successful marketing campaign, include:
It is also hoped that such enterprise would get support of government leading to market opportunity with government agencies and organizations.
The local press might give such business a favorable mention in the press, which can lead to free advertising
Local celebrities can easily be convinced to become ambassadors of such brand especially if they are seen to be delivering high quality products.
I dare my readers to seriously reflect on, and consider going into this area even if it is at a small scale.
Happy workers days ahead!