Cider, Perry & Rice Wine - Sierra Leone

The Cider, Perry & Rice Wine market in Sierra Leone has been experiencing significant growth in recent years. Customer preferences in Sierra Leone have shifted towards alternative alcoholic beverages such as cider, perry, and rice wine. This can be attributed to several factors. Firstly, there has been a growing interest in exploring different flavors and varieties of alcoholic beverages among consumers. Cider, perry, and rice wine offer unique taste profiles that appeal to those seeking new and exciting drinking experiences. Additionally, these beverages are often perceived as being more natural and artisanal, which resonates with consumers who value authenticity and craftsmanship. Trends in the market indicate a growing demand for cider, perry, and rice wine in Sierra Leone. This can be attributed to the increasing popularity of these beverages globally. As international travel and cultural exchanges become more prevalent, consumers in Sierra Leone are being exposed to a wider range of alcoholic beverages, including cider, perry, and rice wine. This exposure has sparked curiosity and interest among consumers, leading to a rise in demand for these products. Local special circumstances in Sierra Leone also contribute to the development of the cider, perry, and rice wine market. The country has a rich agricultural sector, with an abundance of fruits and grains that can be used in the production of these beverages. This availability of local ingredients allows for the production of high-quality and authentic cider, perry, and rice wine, which in turn attracts consumers who prioritize locally sourced and sustainable products. Underlying macroeconomic factors further support the growth of the cider, perry, and rice wine market in Sierra Leone. The country's economy has been steadily growing, leading to an increase in disposable income among consumers. As a result, consumers are more willing to spend on premium and specialty alcoholic beverages, including cider, perry, and rice wine. Additionally, the tourism industry in Sierra Leone has been experiencing growth, attracting international visitors who may be familiar with and interested in trying these types of beverages. In conclusion, the cider, perry, and rice wine market in Sierra Leone is developing due to changing customer preferences, global trends, local special circumstances, and underlying macroeconomic factors. As consumers in Sierra Leone become more adventurous in their drinking choices and seek out unique and authentic experiences, the demand for cider, perry, and rice wine is expected to continue to grow.

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.