Cider, Perry & Rice Wine - Benin

The Cider, Perry & Rice Wine market in Benin is experiencing significant growth and development. Customer preferences in Benin are shifting towards alcoholic beverages that offer unique flavors and are made from natural ingredients. This has led to an increased demand for cider, perry, and rice wine, which are known for their distinctive taste profiles. Consumers in Benin are also becoming more adventurous in their beverage choices and are willing to try new and different products. This has created a favorable environment for the growth of the cider, perry, and rice wine market in the country. Trends in the market indicate that there is a growing interest in locally produced beverages. Consumers in Benin are increasingly looking for products that are made using traditional methods and ingredients. This has led to the emergence of small-scale cider, perry, and rice wine producers who cater to this demand. These local producers often use locally sourced fruits and grains to create unique and authentic flavors. The popularity of these locally produced beverages is further boosted by the rising trend of supporting local businesses and promoting sustainability. Another trend in the market is the increasing popularity of craft beverages. Craft cider, perry, and rice wine are gaining traction among consumers in Benin due to their high quality and artisanal production methods. Craft beverages are often made in small batches and offer a higher level of customization and attention to detail. This appeals to consumers who are looking for a more personalized and unique drinking experience. Local special circumstances in Benin contribute to the development of the cider, perry, and rice wine market. Benin has a rich agricultural sector, with a diverse range of fruits and grains being grown in the country. This provides a steady supply of raw materials for the production of cider, perry, and rice wine. Additionally, the country has a growing tourism industry, which attracts visitors from around the world. These tourists often seek out local food and beverages, including traditional alcoholic beverages like cider, perry, and rice wine. This presents an opportunity for local producers to showcase their products and attract a wider customer base. Underlying macroeconomic factors also play a role in the development of the cider, perry, and rice wine market in Benin. The country has been experiencing steady economic growth, which has led to an increase in disposable income among consumers. This allows them to spend more on premium and specialty beverages, including cider, perry, and rice wine. Additionally, Benin has a young and growing population, which is driving demand for new and innovative products. This demographic trend is expected to continue fueling the growth of the cider, perry, and rice wine market in the country. In conclusion, the cider, perry, and rice wine market in Benin is developing due to changing customer preferences, local special circumstances, and underlying macroeconomic factors. The growing interest in unique and locally produced beverages, as well as the popularity of craft beverages, has created a favorable environment for the growth of this market. The rich agricultural sector, growing tourism industry, and increasing disposable income among consumers further contribute to the development of the cider, perry, and rice wine market in Benin.

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.