Hard Seltzer - Ivory Coast

The Hard Seltzer market in Ivory Coast is experiencing significant growth and development, driven by changing customer preferences, emerging trends, local special circumstances, and underlying macroeconomic factors.

Customer preferences: In recent years, there has been a shift in consumer preferences towards healthier and low-calorie alcoholic beverages. This trend is fueled by a growing awareness of health and wellness among consumers, who are seeking alternatives to traditional high-calorie drinks. Hard Seltzers, with their lower calorie content and refreshing flavors, have gained popularity among health-conscious consumers in Ivory Coast. The demand for these beverages has been further amplified by the younger generation, who are more inclined towards experimenting with new and innovative alcoholic beverages.

Trends in the market: One of the key trends in the Hard Seltzer market in Ivory Coast is the increasing availability and variety of flavors. Manufacturers are introducing a wide range of flavors, including tropical fruits, citrus, and berries, to cater to the diverse preferences of consumers. This trend is driven by the desire to offer unique and refreshing taste experiences, as well as to differentiate products in a competitive market. Additionally, there is a growing trend of local breweries and distilleries entering the Hard Seltzer market, further expanding the product offerings and creating a sense of local pride.

Local special circumstances: Ivory Coast, being a tropical country with a warm climate, creates a favorable environment for the consumption of refreshing and light beverages like Hard Seltzers. The popularity of these beverages is also influenced by the country's vibrant social scene, where individuals often gather for social events and celebrations. Hard Seltzers, with their easy-to-drink nature and wide range of flavors, have become a popular choice for such occasions.

Underlying macroeconomic factors: The growing middle-class population in Ivory Coast, coupled with increasing disposable income, has contributed to the growth of the Hard Seltzer market. As consumers have more purchasing power, they are more willing to explore new and premium alcoholic beverages. Additionally, the country's stable economic growth and favorable investment climate have attracted international players to enter the market, leading to increased competition and product innovation. In conclusion, the Hard Seltzer market in Ivory Coast is witnessing significant growth and development due to changing customer preferences, emerging trends, local special circumstances, and underlying macroeconomic factors. The demand for healthier and low-calorie alcoholic beverages, coupled with the availability of a wide range of flavors, has fueled the popularity of Hard Seltzers among consumers. The country's favorable climate and vibrant social scene further contribute to the growth of this market. With the growing middle-class population and increasing disposable income, the Hard Seltzer market in Ivory Coast is expected to continue its upward trajectory 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.