Cider, Perry & Rice Wine - Guinea

The Cider, Perry & Rice Wine market in Guinea has experienced significant development in recent years, driven by changing customer preferences and local special circumstances.

Customer preferences: In Guinea, there has been a growing preference for alcoholic beverages that are light and refreshing, which has contributed to the increasing popularity of cider, perry, and rice wine. These beverages offer a unique taste profile that appeals to a wide range of consumers, including those who are looking for alternatives to traditional alcoholic drinks such as beer and wine. Additionally, the rise in health-consciousness among consumers has also played a role in the growing demand for these beverages, as they are often perceived as healthier options compared to other alcoholic drinks.

Trends in the market: One of the key trends in the Cider, Perry & Rice Wine market in Guinea is the increasing availability and variety of products. As the market has grown, both domestic and international brands have entered the market, offering a wide range of options to consumers. This has led to increased competition and innovation, with companies introducing new flavors and packaging formats to attract customers. Additionally, there has been a rise in the popularity of craft and artisanal cider, perry, and rice wine, as consumers seek unique and high-quality products.

Local special circumstances: Guinea has a rich agricultural heritage, with a favorable climate for the cultivation of fruits and grains. This has created a conducive environment for the production of cider, perry, and rice wine, as these beverages are often made from locally sourced ingredients. The abundance of fruits such as apples and pears, as well as rice, has allowed local producers to create authentic and flavorful products that resonate with consumers. Furthermore, the cultural significance of these beverages in certain regions of Guinea has also contributed to their popularity, with traditional festivals and celebrations often featuring cider, perry, and rice wine.

Underlying macroeconomic factors: The development of the Cider, Perry & Rice Wine market in Guinea 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 among consumers. This has allowed for greater spending power and a willingness to explore new and premium products, including cider, perry, and rice wine. Additionally, the government has implemented policies to promote the growth of the agricultural sector, which has further supported the production and availability of these beverages. In conclusion, the Cider, Perry & Rice Wine market in Guinea is developing due to changing customer preferences, the availability of a wide range of products, local special circumstances such as favorable agricultural conditions, and underlying macroeconomic factors. As consumers continue to seek out unique and refreshing alcoholic beverages, the market is likely to see further growth and innovation in the coming years.

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.