Beer - Guinea

The Beer market in Guinea has experienced significant growth in recent years, driven by changing customer preferences and local special circumstances.

Customer preferences: Guinea has a young and growing population, with a large proportion of the population falling within the legal drinking age. As a result, there is a strong demand for alcoholic beverages, including beer. Additionally, Guineans have shown a preference for locally brewed beers, as they are often seen as more authentic and reflective of the local culture. This has led to an increase in the consumption of domestic beer brands.

Trends in the market: One of the key trends in the beer market in Guinea is the rise of craft beer. Craft breweries have emerged in recent years, offering a wide range of unique and high-quality beers. These craft beers are often made with local ingredients and cater to the growing demand for premium and specialty beers. This trend has been driven by a desire for variety and a more personalized drinking experience among consumers. Another trend in the market is the increasing popularity of flavored beers. Flavored beers, such as fruit-infused or spiced beers, have gained traction among consumers looking for new and innovative taste experiences. This trend reflects a shift towards more adventurous and experimental drinking habits in Guinea.

Local special circumstances: Guinea has a rich brewing tradition, with beer playing an important role in the local culture and social gatherings. Beer is often consumed during celebrations and festivals, and is seen as a symbol of hospitality and friendship. This cultural significance of beer has contributed to its steady demand and growth in the market. Furthermore, Guinea has a relatively low per capita beer consumption compared to other countries in the region. This indicates a significant growth potential for the beer market, as more consumers are expected to enter the legal drinking age and increase their beer consumption in the coming years.

Underlying macroeconomic factors: The economic growth in Guinea has had a positive impact on the beer market. As the economy continues to develop, disposable incomes have increased, allowing consumers to spend more on discretionary items such as beer. This has contributed to the growth in demand for beer and the expansion of the market. Additionally, the government of Guinea has implemented policies to support the growth of the beer industry. These policies include tax incentives for local breweries and regulations to promote responsible drinking. These measures have created a favorable business environment for beer manufacturers and have contributed to the overall growth of the market. In conclusion, the beer market in Guinea is experiencing growth due to changing customer preferences, local special circumstances, and underlying macroeconomic factors. The rise of craft beer and flavored beers, along with the cultural significance of beer in Guinea, have contributed to the increasing demand for beer. Additionally, the economic growth and government support have created a favorable business environment for the beer industry. As a result, the beer market in Guinea is expected to continue its positive growth trajectory in the coming years.

Data coverage:
The data encompasses B2C enterprises. The at-home market covers retail sales via super- and hypermarkets, eCommerce, convenience stores, or similar sales channels. The out-of-home data encompasses all sales to hotels, restaurants, catering, cafés, bars, and similar hospitality service establishments. Combined numbers encompass both the at-home market and the out-of-home market. Both the at-home and the out-of-home market are valued at retail selling prices including all sales and consumption taxes.

Modeling approach:
Market sizes are determined through a Top-Down approach, building on specific predefined factors for each market segment. As a basis for evaluating markets, we use resources from the Statista platform as well as in-house market research, national statistical offices, international institutions, trade associations, companies, the trade press, and the experience of our analysts. In addition, we use relevant key market indicators and data from country-specific associations, such as GDP, consumer spending (e.g. consumer spending on alcoholic beverages, consumer spending at Hotels, Restaurants etc.), and price level index. This data helps us estimate the market size for each country individually.

Forecasts:
In our forecasts, we apply diverse forecasting techniques. The selection of forecasting techniques is based on the behavior of the relevant market. For example, the exponential trend smoothing is well suited for forecasting the Alcoholic Drinks market with a projected steady growth. The main drivers are GDP per capita and consumer spending per capita.

Additional notes:
The data is modeled using current exchange rates. The impact of the COVID-19 pandemic and the Russia-Ukraine war are considered at a country-specific level.