Hard Seltzer - Benin

The Hard Seltzer market in Benin is experiencing a steady growth due to a combination of customer preferences, market trends, local special circumstances, and underlying macroeconomic factors. Customer preferences in Benin have shifted towards healthier beverage options in recent years. With increasing health consciousness and a growing trend towards wellness, consumers are seeking low-calorie and low-sugar alternatives to traditional alcoholic beverages. Hard Seltzers, with their refreshing and light flavors, have gained popularity as a healthier alternative to beer and other alcoholic drinks. The appeal of these beverages lies in their lower calorie content and natural fruit flavors, which resonate well with the health-conscious consumer base in Benin. Trends in the market indicate a growing demand for ready-to-drink beverages in Benin. The convenience and portability of Hard Seltzers make them an attractive choice for consumers who are constantly on the go. The market has witnessed the introduction of a variety of flavors and brands, catering to different consumer preferences. This diversification has further fueled the growth of the Hard Seltzer market in Benin, as consumers have more options to choose from. Local special circumstances also contribute to the development of the Hard Seltzer market in Benin. The country's warm climate and tropical environment make refreshing and light beverages highly desirable. Hard Seltzers, with their carbonated water base and fruit flavors, offer a refreshing and thirst-quenching experience for consumers in Benin. Additionally, the younger demographic in the country, who are more open to trying new and innovative products, have embraced the trend of Hard Seltzers, further driving the market growth. Underlying macroeconomic factors, such as increasing disposable incomes and urbanization, have also played a role in the growth of the Hard Seltzer market in Benin. As the economy continues to develop and consumers have more purchasing power, they are willing to spend on premium and trendy products like Hard Seltzers. Urbanization has also led to a shift in consumer preferences, with a greater emphasis on convenience and lifestyle choices. These factors have created a favorable environment for the growth of the Hard Seltzer market in Benin. In conclusion, the Hard Seltzer market in Benin is experiencing steady growth due to customer preferences for healthier beverage options, market trends towards ready-to-drink beverages, local special circumstances such as the country's warm climate, and underlying macroeconomic factors like increasing disposable incomes and urbanization. This combination of factors has created a conducive environment for the development and expansion of the Hard Seltzer 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.