Cider, Perry & Rice Wine - Ivory Coast

The Cider, Perry & Rice Wine market in Ivory Coast has been experiencing significant growth in recent years.

Customer preferences: In Ivory Coast, there is a growing demand for alcoholic beverages, including cider, perry, and rice wine. This can be attributed to changing consumer preferences and an increasing interest in trying new and unique products. Customers are seeking out different flavors and varieties of alcoholic beverages, and cider, perry, and rice wine offer a refreshing alternative to traditional options.

Trends in the market: One of the key trends in the market is the rise of craft cider, perry, and rice wine. Artisanal producers are gaining popularity as consumers appreciate the quality and authenticity of these products. Craft beverages are often made with locally sourced ingredients and traditional production methods, giving them a unique and distinct flavor profile. This trend aligns with the growing interest in supporting local businesses and consuming products with a story behind them. Another trend in the market is the introduction of flavored cider, perry, and rice wine. Manufacturers are innovating by adding different fruit flavors and botanicals to their products, providing consumers with a wider range of options to choose from. Flavored beverages are particularly appealing to younger consumers who are looking for more exciting and adventurous drinking experiences.

Local special circumstances: Ivory Coast has a rich agricultural sector, with a variety of fruits and crops grown in the country. This provides a unique opportunity for local producers to use locally sourced ingredients in the production of cider, perry, and rice wine. The use of local fruits and crops not only adds to the authenticity of the products but also supports the local economy and reduces the carbon footprint associated with importing ingredients.

Underlying macroeconomic factors: The economic growth in Ivory Coast has contributed to the development of the cider, perry, and rice wine market. As disposable incomes rise, consumers have more purchasing power to spend on premium and specialty beverages. This has created a favorable market environment for both local and international producers to expand their offerings and cater to the growing demand. In conclusion, the Cider, Perry & Rice Wine market in Ivory Coast is developing due to changing customer preferences, including a growing interest in craft and flavored beverages. The use of locally sourced ingredients and the country's economic growth are also contributing factors to the market's growth. As the market continues to evolve, it is expected that more innovative and unique products will enter the market, further driving its expansion.

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.