Alcoholic Drinks - Central Africa

The Alcoholic Drinks market in Central Africa has been experiencing significant growth in recent years. Customer preferences in the region have been shifting towards premium and craft alcoholic beverages. Consumers are becoming more interested in trying new and unique products, and are willing to pay a premium for higher quality and more exclusive options. This trend is driven by a growing middle class with higher disposable incomes and an increasing desire for luxury and indulgence. Additionally, the influence of Western culture and the rise of social media have also contributed to the popularity of premium alcoholic drinks in Central Africa. One of the key trends in the market is the increasing demand for locally produced alcoholic beverages. Consumers in Central Africa are showing a preference for products that are made using traditional methods and ingredients, reflecting a desire to support local businesses and preserve cultural heritage. This trend is particularly prominent in countries with a strong tradition of brewing and distilling, such as Cameroon and Congo. Local breweries and distilleries are capitalizing on this demand by offering a wide range of traditional and artisanal alcoholic drinks. Another trend in the market is the growing popularity of flavored alcoholic beverages. Flavored beers, ciders, and spirits are gaining traction among consumers in Central Africa, who are looking for more variety and unique taste experiences. This trend is driven by the younger generation, who are more open to experimentation and are seeking out innovative and exciting flavors. Manufacturers are responding to this demand by introducing a wide range of flavored alcoholic drinks to the market. In addition to customer preferences, there are also local special circumstances that are influencing the development of the Alcoholic Drinks market in Central Africa. One of these circumstances is the presence of a large informal sector. Many alcoholic beverages in the region are produced and sold through informal channels, such as street vendors and small-scale producers. This informal sector plays a significant role in the market, particularly in rural areas where formal retail infrastructure is limited. It is important for companies operating in Central Africa to understand and navigate this informal sector in order to effectively reach consumers and maximize their market share. Underlying macroeconomic factors also contribute to the development of the Alcoholic Drinks market in Central Africa. Economic growth in the region has led to an increase in disposable incomes, allowing more consumers to afford and indulge in alcoholic beverages. Additionally, urbanization and changing lifestyles are driving the demand for convenience and on-the-go consumption, leading to the growth of the ready-to-drink segment in the market. These macroeconomic factors create a favorable environment for the expansion and diversification of the Alcoholic Drinks market in Central 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.