Beer - Sierra Leone

The Beer market in Sierra Leone has been experiencing significant growth in recent years, driven by changing customer preferences and favorable market conditions.

Customer preferences: Sierra Leoneans have shown a growing preference for beer as their beverage of choice. This can be attributed to various factors such as the cultural significance of beer in social gatherings and celebrations, as well as the increasing availability of a wide range of beer options in the market. Additionally, the affordability and accessibility of beer compared to other alcoholic beverages have also contributed to its popularity among consumers.

Trends in the market: One notable trend in the Sierra Leonean beer market is the increasing demand for craft beer. Craft beer, with its unique flavors and brewing techniques, has gained popularity among consumers who are seeking a more diverse and premium drinking experience. This trend is in line with the global craft beer movement, reflecting a shift towards more artisanal and locally-produced products. Another trend in the market is the rise of non-alcoholic beer. Health-conscious consumers are increasingly opting for non-alcoholic beer as a healthier alternative to traditional alcoholic beverages. This trend is driven by a growing awareness of the negative health effects of excessive alcohol consumption and a desire for more responsible drinking options.

Local special circumstances: Sierra Leone's beer market is also influenced by local special circumstances. The country's warm climate and vibrant social scene make beer a popular choice for refreshment and socializing. Additionally, the presence of a large youth population and a growing middle class contribute to the increasing demand for beer.

Underlying macroeconomic factors: The growth of the beer market in Sierra Leone is also supported by underlying macroeconomic factors. The country has experienced steady economic growth in recent years, leading to an increase in disposable income and consumer spending. This has allowed more consumers to afford and enjoy beer as a form of leisure and entertainment. Furthermore, the government's efforts to improve infrastructure and promote tourism have also contributed to the growth of the beer market by attracting both domestic and international visitors. In conclusion, the Beer market in Sierra Leone is experiencing growth due to changing customer preferences, including a growing demand for craft beer and non-alcoholic options. The country's warm climate, vibrant social scene, and improving economic conditions also contribute to the increasing popularity of beer. With these trends and favorable market conditions, the beer market in Sierra Leone is expected to continue its upward 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.