Hard Seltzer - Zimbabwe

The Hard Seltzer market in Zimbabwe has been experiencing significant growth in recent years.

Customer preferences: Zimbabwean consumers have shown a growing preference for alcoholic beverages that are light, refreshing, and low in calories. This shift in consumer preferences towards healthier options has contributed to the rising popularity of Hard Seltzers. The convenience of ready-to-drink canned beverages has also appealed to consumers who are looking for convenient options for social gatherings or outdoor activities.

Trends in the market: One of the key trends in the Hard Seltzer market in Zimbabwe is the increasing availability and variety of flavors. Manufacturers have been introducing a wide range of flavors to cater to the diverse taste preferences of consumers. This has helped to attract a larger customer base and drive sales. Additionally, there has been a rise in the number of local breweries and distilleries producing Hard Seltzers, which has further fueled the market growth. Another trend in the market is the focus on sustainable and eco-friendly packaging. Consumers in Zimbabwe are becoming more environmentally conscious and are actively seeking products that have minimal impact on the environment. Hard Seltzer brands have responded to this demand by using recyclable materials for their packaging, such as aluminum cans. This has not only appealed to environmentally conscious consumers but has also helped to differentiate brands in a competitive market.

Local special circumstances: Zimbabwe has a relatively young population, with a significant portion of the population falling within the millennial and Gen Z age groups. These younger consumers tend to be more experimental with their beverage choices and are open to trying new and innovative products. The rising popularity of Hard Seltzers can be attributed, in part, to the appeal of these beverages among the younger demographic. Furthermore, the tourism industry in Zimbabwe has been growing steadily, attracting both domestic and international tourists. Hard Seltzers have become a popular choice among tourists due to their refreshing taste and convenience. This has created an additional market for Hard Seltzer brands, particularly in tourist hotspots and hospitality establishments.

Underlying macroeconomic factors: The growing middle class in Zimbabwe has contributed to the increasing demand for premium alcoholic beverages, including Hard Seltzers. As disposable incomes rise, consumers are willing to spend more on high-quality products and are seeking out unique and sophisticated alcoholic beverages. Hard Seltzers, with their premium branding and diverse flavor profiles, have been able to capture this segment of the market. Additionally, the government of Zimbabwe has implemented policies to promote investment and entrepreneurship in the country. This has led to the establishment of more local breweries and distilleries, which have contributed to the growth of the Hard Seltzer market. The government's support for the alcohol industry, combined with favorable economic conditions, has created a conducive environment for the development of the market. In conclusion, the Hard Seltzer market in Zimbabwe is experiencing growth due to changing customer preferences, including a preference for healthier options and convenient packaging. The market is also influenced by local special circumstances such as a young population and a growing tourism industry. Underlying macroeconomic factors, such as a rising middle class and government support for entrepreneurship, have also contributed to the market's development.

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.