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Key regions: Singapore, Australia, China, Philippines, United Kingdom
The Beer market in Western Africa is experiencing significant growth due to changing customer preferences, emerging trends, and local special circumstances. Customer preferences in Western Africa are shifting towards the consumption of alcoholic beverages, particularly beer. This can be attributed to the region's cultural and social traditions, where beer is often consumed during social gatherings and celebrations. Additionally, the growing urbanization and increasing disposable incomes have contributed to the rising demand for beer in the region. Trends in the beer market in Western Africa include the emergence of craft breweries and the growing popularity of flavored and premium beers. Craft breweries are gaining traction among consumers who appreciate unique and locally-produced beers. These breweries often offer a variety of flavors and styles, catering to the diverse tastes of consumers in the region. Moreover, flavored and premium beers are becoming increasingly popular among younger consumers who seek new and exciting beverage options. Local special circumstances in Western Africa also play a role in the development of the beer market. The region's tropical climate creates a conducive environment for the production and consumption of beer. The hot weather encourages the consumption of cold beverages, making beer a popular choice among consumers. Additionally, the prevalence of local ingredients, such as sorghum and millet, in the region's brewing traditions adds to the uniqueness and appeal of locally-produced beers. Underlying macroeconomic factors further contribute to the growth of the beer market in Western Africa. The region's steady economic growth and increasing urbanization have led to a larger consumer base with higher purchasing power. This has resulted in an increased demand for beer as a form of leisure and entertainment. Furthermore, the expanding tourism industry in Western Africa has also contributed to the growth of the beer market, as tourists often seek to experience the local culture and traditions, including the consumption of traditional beverages like beer. In conclusion, the Beer market in Western Africa is experiencing growth driven by changing customer preferences, emerging trends, local special circumstances, and underlying macroeconomic factors. The region's cultural traditions, urbanization, and increasing disposable incomes have led to a shift towards the consumption of alcoholic beverages, particularly beer. The emergence of craft breweries, the popularity of flavored and premium beers, and the region's tropical climate also contribute to the growth of the market. Additionally, the presence of local ingredients in brewing traditions and the expanding tourism industry further support the development of the beer market in Western Africa.
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.
Mon - Fri, 9am - 6pm (EST)
Mon - Fri, 9am - 5pm (SGT)
Mon - Fri, 10:00am - 6:00pm (JST)
Mon - Fri, 9:30am - 5pm (GMT)
Mon - Fri, 9am - 6pm (EST)