Hard Seltzer - Togo

The market for Hard Seltzer in Togo is experiencing significant growth and development.

Customer preferences: In recent years, there has been a noticeable shift in consumer preferences towards healthier and low-calorie alcoholic beverages. Hard Seltzers, which are typically low in calories and sugar, have gained popularity among health-conscious consumers who are looking for a refreshing and guilt-free alcoholic option. This trend is not unique to Togo, but is seen in many markets worldwide.

Trends in the market: The Hard Seltzer market in Togo has witnessed a surge in demand as more consumers are seeking out alternatives to traditional alcoholic beverages. The convenience and portability of canned Hard Seltzers have made them a popular choice for social gatherings, outdoor events, and even for enjoying at home. The variety of flavors available in the market has also contributed to the growing popularity of Hard Seltzers in Togo.

Local special circumstances: Togo's tropical climate and hot weather make it an ideal market for refreshing beverages. The rise in tourism and the growing popularity of beach destinations have further fueled the demand for Hard Seltzers in the country. Additionally, the increasing urbanization and changing lifestyles of the younger population have led to a shift in drinking habits, with more individuals opting for lighter and healthier alcoholic options.

Underlying macroeconomic factors: The growing economy of Togo has resulted in an increase in disposable income among consumers. As a result, there has been a shift towards premium and imported alcoholic beverages, including Hard Seltzers. The expanding middle class in the country has a higher purchasing power and is willing to spend on innovative and trendy products. This has created a favorable market environment for the growth of the Hard Seltzer industry in Togo. In conclusion, the Hard Seltzer market in Togo is experiencing significant growth and development due to changing customer preferences, the convenience and portability of the product, the country's tropical climate, and the increasing disposable income of consumers. As the demand for healthier and low-calorie alcoholic beverages continues to rise, the market for Hard Seltzers in Togo is expected to expand further 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.