Hard Seltzer - Burkina Faso

The Hard Seltzer market in Burkina Faso is experiencing significant growth and development due to changing customer preferences and trends in the global market.

Customer preferences: In recent years, there has been a shift in customer preferences towards healthier and low-calorie alcoholic beverages. This trend is driven by a growing awareness of the negative health impacts of sugary drinks and a desire for more balanced lifestyles. Hard Seltzers, with their low calorie and low sugar content, have gained popularity among health-conscious consumers.

Trends in the market: The global Hard Seltzer market has witnessed exponential growth in the past few years, and this trend is now being reflected in Burkina Faso. The rise of social media and the influence of international trends have played a significant role in driving the demand for Hard Seltzers in the country. As consumers become more exposed to global trends and lifestyles, they are seeking out new and innovative alcoholic beverages, and Hard Seltzers fit the bill perfectly.

Local special circumstances: Burkina Faso, like many other African countries, has a young and dynamic population. This demographic group is more open to trying new products and is often the early adopters of global trends. Additionally, there is a growing middle class in the country, which has more disposable income and is willing to spend on premium and trendy products. These factors have created a favorable environment for the growth of the Hard Seltzer market in Burkina Faso.

Underlying macroeconomic factors: Burkina Faso's economy has been growing steadily in recent years, with increased urbanization and rising incomes. This has led to a shift in consumer preferences, with a greater demand for premium and imported products. The availability of international brands in the market has also contributed to the growth of the Hard Seltzer market. Furthermore, the government's efforts to attract foreign investment and promote entrepreneurship have created a conducive business environment, allowing new players to enter the market and meet the growing demand for Hard Seltzers. In conclusion, the Hard Seltzer market in Burkina Faso is experiencing growth and development due to changing customer preferences, global trends, favorable local circumstances, and underlying macroeconomic factors. As the market continues to evolve, it presents opportunities for both local and international players to capitalize on the growing demand for healthier and more innovative alcoholic beverages.

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.