Hard Seltzer - Equatorial Guinea

The Hard Seltzer market in Equatorial Guinea is experiencing significant growth and development.

Customer preferences: Equatorial Guinea, like many other countries in the region, has seen a shift in consumer preferences towards healthier and low-calorie alcoholic beverages. This trend can be attributed to a growing awareness of health and wellness among consumers, as well as an increasing desire for more diverse beverage options. Hard Seltzers, with their low calorie and low sugar content, have gained popularity among health-conscious consumers in Equatorial Guinea.

Trends in the market: One of the key trends in the Hard Seltzer market in Equatorial Guinea is the increasing availability and variety of products. As the demand for Hard Seltzers continues to rise, both local and international brands are entering the market, offering a wide range of flavors and options to consumers. This trend is driven by the growing popularity of Hard Seltzers globally, as well as the increasing disposable income of consumers in Equatorial Guinea. Another trend in the market is the rise of local craft Hard Seltzer brands. This trend is driven by the desire of consumers to support local businesses and the growing interest in unique and artisanal products. Local craft Hard Seltzers often offer unique flavors and ingredients that cater to the local taste preferences, giving them a competitive edge in the market.

Local special circumstances: Equatorial Guinea has a young and urban population, which is a key factor contributing to the growth of the Hard Seltzer market. Younger consumers are more likely to be early adopters of new trends and are more open to trying new products. Additionally, the urban lifestyle in Equatorial Guinea, with its vibrant nightlife and social scene, provides a conducive environment for the growth of the Hard Seltzer market.

Underlying macroeconomic factors: The growing economy of Equatorial Guinea is also playing a significant role in the development of the Hard Seltzer market. As the country's GDP continues to rise, consumers have more disposable income to spend on discretionary items such as alcoholic beverages. This increase in purchasing power has created a favorable market environment for the growth of the Hard Seltzer industry. In conclusion, the Hard Seltzer market in Equatorial Guinea is experiencing growth and development due to shifting consumer preferences towards healthier and low-calorie alcoholic beverages, the increasing availability and variety of products, the rise of local craft brands, the young and urban population, and the growing economy. These factors have created a favorable market environment for the Hard Seltzer industry in Equatorial Guinea.

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.