Alcoholic Drinks - Guinea

The Alcoholic Drinks market in Guinea has been experiencing significant growth in recent years. Customer preferences, trends in the market, local special circumstances, and underlying macroeconomic factors have all contributed to this development. Customer preferences in Guinea have shifted towards a greater demand for alcoholic beverages. This can be attributed to several factors, including changing social norms and an increasing disposable income among consumers. As the country's economy has grown, more people have been able to afford alcoholic drinks, leading to a rise in consumption. In terms of trends in the market, there has been a notable increase in the popularity of locally produced alcoholic beverages. Guinea has a rich tradition of brewing and distilling, and consumers are increasingly seeking out these locally made products. This trend can be attributed to a growing sense of national pride and a desire to support local businesses. Additionally, the quality of locally produced alcoholic drinks has improved in recent years, further driving their popularity. Another trend in the market is the rise of premium and craft alcoholic beverages. As consumers become more discerning in their tastes, they are willing to pay a higher price for higher quality products. This trend is not unique to Guinea, but reflects a global shift towards premiumization in the alcoholic drinks industry. Local special circumstances have also played a role in the development of the Alcoholic Drinks market in Guinea. The country has a young and growing population, which has contributed to increased demand for alcoholic beverages. Additionally, Guinea has a vibrant nightlife culture, with many bars and clubs catering to a young and urban demographic. This has created a strong market for alcoholic drinks, particularly among young adults. Underlying macroeconomic factors have also influenced the development of the Alcoholic Drinks market in Guinea. The country's economy has been steadily growing in recent years, leading to an increase in disposable income among consumers. This has allowed more people to afford alcoholic beverages and has contributed to the overall growth of the market. In conclusion, the Alcoholic Drinks market in Guinea has experienced significant growth in recent years due to changing customer preferences, trends in the market, local special circumstances, and underlying macroeconomic factors. The demand for alcoholic beverages has increased, particularly for locally produced and premium products. With a young and growing population and a strong economy, Guinea is likely to continue experiencing growth in the Alcoholic Drinks market 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.