Alcoholic Drinks - Benin

The Alcoholic Drinks market in Benin has been experiencing steady growth in recent years, driven by changing customer preferences and local special circumstances.

Customer preferences: In Benin, customers have shown a growing preference for alcoholic drinks, particularly beer and spirits. This can be attributed to the increasing urbanization and westernization of the country, as well as the influence of global trends. Customers are seeking a wider variety of alcoholic beverages, including craft beers and premium spirits, and are willing to pay a premium for higher quality products. Additionally, there has been a shift towards healthier drinking options, with an increasing demand for low-alcohol and non-alcoholic beverages.

Trends in the market: One of the key trends in the Alcoholic Drinks market in Benin is the rise of local breweries and distilleries. These local producers are capitalizing on the growing demand for craft beers and premium spirits, offering unique and high-quality products that cater to the preferences of the local consumers. This trend is also driven by the desire to support local businesses and promote the country's cultural heritage. Another trend in the market is the increasing popularity of imported alcoholic beverages. Benin has seen a rise in the consumption of international beer brands and premium spirits, as consumers are becoming more exposed to global trends and are seeking new and unique drinking experiences. This trend is also supported by the growing tourism industry in Benin, as visitors from other countries bring with them their preferences for international alcoholic drinks.

Local special circumstances: Benin has a strong cultural tradition of brewing and distilling, which has contributed to the growth of the Alcoholic Drinks market. Traditional alcoholic beverages, such as palm wine and tchapalo, continue to be popular among the local population. These beverages are often made using local ingredients and traditional methods, adding to their appeal and uniqueness. Furthermore, the government of Benin has implemented policies to promote the growth of the Alcoholic Drinks market. This includes providing support and incentives for local producers, as well as creating a favorable business environment for international companies to invest in the country. These efforts have helped to attract both local and foreign players to the market, leading to increased competition and innovation.

Underlying macroeconomic factors: The growth of the Alcoholic Drinks market in Benin can also be attributed to 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 consumers to allocate a larger portion of their income towards discretionary items, such as alcoholic beverages. Additionally, Benin has a young and growing population, which is driving the demand for alcoholic drinks. Younger consumers are more open to experimenting with different types of alcoholic beverages and are willing to try new and innovative products. This demographic trend is expected to continue in the coming years, further fueling the growth of the Alcoholic Drinks market in Benin. In conclusion, the Alcoholic Drinks market in Benin is developing due to changing customer preferences, local special circumstances, and underlying macroeconomic factors. Customers are seeking a wider variety of alcoholic beverages, including craft beers and premium spirits, and are willing to pay a premium for higher quality products. The rise of local breweries and distilleries, as well as the increasing popularity of imported alcoholic beverages, are key trends in the market. Benin's strong cultural tradition of brewing and distilling, along with government support and favorable macroeconomic conditions, are contributing to the growth of the market.

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.