Alcoholic Drinks - Cameroon

The Alcoholic Drinks market in Cameroon is experiencing steady growth, driven by changing customer preferences and local special circumstances. Customer preferences in the Alcoholic Drinks market in Cameroon are evolving, with a growing demand for premium and craft beverages. Consumers are increasingly seeking high-quality products that offer unique flavors and experiences. This trend is influenced by the global rise in craft beer and spirits, as well as the growing appreciation for locally-produced beverages. As a result, there has been an increase in the number of microbreweries and distilleries in Cameroon, catering to the demand for artisanal drinks. Trends in the market also reflect the influence of global and regional factors. For example, the popularity of wine is on the rise, driven by an increasing middle class with more disposable income and a desire for sophisticated drinking experiences. Wine consumption is also influenced by the perception of health benefits associated with moderate wine consumption. Additionally, the growing tourism industry in Cameroon has contributed to the demand for a wide variety of alcoholic beverages, as tourists seek to explore and experience the local culture. Local special circumstances play a significant role in shaping the Alcoholic Drinks market in Cameroon. The country has a rich cultural heritage and diverse ethnic groups, each with their own traditional alcoholic beverages. These local drinks, such as palm wine and sorghum beer, have a long history and continue to be consumed by the local population. They contribute to the unique drinking culture in Cameroon and are often served during social gatherings and celebrations. Underlying macroeconomic factors also contribute to the development of the Alcoholic Drinks market in Cameroon. The country's economic growth and increasing urbanization have led to a rise in disposable income and a growing middle class. This has resulted in a higher demand for alcoholic beverages, as consumers have more purchasing power. Additionally, the government's efforts to promote local industries and support small businesses have created opportunities for the growth of the microbrewery and distillery sector in Cameroon. In conclusion, the Alcoholic Drinks market in Cameroon is experiencing growth due to changing customer preferences, global and regional trends, local special circumstances, and underlying macroeconomic factors. The demand for premium and craft beverages, the popularity of wine, the influence of local traditional drinks, and the country's economic growth all contribute to the development 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.