Beer - Ivory Coast

The Beer market in Ivory Coast has been experiencing significant growth in recent years.

Customer preferences: Ivory Coast, located in West Africa, has a growing population with a rising middle class. This has led to an increase in disposable income and a shift in consumer preferences towards premium and craft beers. Customers are becoming more discerning and are willing to pay a premium for high-quality and unique beer offerings. Additionally, there is a growing trend of health-consciousness among consumers, leading to a demand for low-alcohol and non-alcoholic beer options.

Trends in the market: One of the key trends in the Beer market in Ivory Coast is the increasing popularity of locally produced craft beers. These beers are often made using traditional brewing methods and locally sourced ingredients, appealing to consumers who are seeking unique and authentic experiences. Craft breweries are also tapping into the growing interest in beer tourism, offering brewery tours and tastings to attract visitors. Another trend in the market is the growing presence of international beer brands. Global beer companies are recognizing the potential of the Ivory Coast market and are expanding their operations in the country. This has resulted in a wider variety of beer options available to consumers, including popular international brands.

Local special circumstances: Ivory Coast has a rich cultural heritage, and beer plays an important role in traditional celebrations and social gatherings. This cultural significance of beer has contributed to its popularity and continued growth in the market. Additionally, the country has a warm climate, making beer a refreshing beverage choice for many consumers.

Underlying macroeconomic factors: The overall economic growth and stability in Ivory Coast have had a positive impact on the Beer market. The country has made significant progress in recent years in terms of political stability and infrastructure development, attracting foreign investment and boosting consumer confidence. This has resulted in increased spending power and a growing middle class, driving the demand for beer. Furthermore, the government has implemented policies to encourage the growth of the beer industry. This includes reducing import taxes on raw materials and equipment used in beer production, as well as promoting local entrepreneurship and job creation in the sector. These supportive policies have attracted both local and international breweries to invest in the country, further fueling the growth of the Beer market in Ivory Coast. In conclusion, the Beer market in Ivory Coast is experiencing growth due to changing customer preferences, including a demand for premium and craft beers. The presence of international brands and the cultural significance of beer also contribute to its popularity. The country's economic stability and supportive government policies have created a favorable environment for the beer industry to thrive.

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.