Alcoholic Drinks - Madagascar

The Alcoholic Drinks market in Madagascar is experiencing significant growth and development. Customer preferences in Madagascar are shifting towards premium and high-quality alcoholic drinks. Consumers are becoming more discerning and are willing to pay a premium for products that offer unique flavors and superior quality. This trend is driven by a growing middle class and an increasing number of consumers with higher disposable incomes. As a result, there is a growing demand for imported alcoholic drinks, especially those from well-known international brands. Trends in the market include the rising popularity of craft beers and spirits. Consumers are seeking out unique and artisanal products that offer a different taste experience. Craft breweries and distilleries are emerging in Madagascar, offering a wide range of locally-produced alcoholic beverages. This trend is fueled by the desire for authenticity and the support of local businesses. Another trend in the market is the increasing demand for low-alcohol and non-alcoholic beverages. Health-conscious consumers are looking for alternatives to traditional alcoholic drinks that are lower in calories and have less impact on their overall well-being. This trend is driven by a growing awareness of the negative health effects of excessive alcohol consumption and a desire to lead a more balanced lifestyle. Local special circumstances in Madagascar contribute to the development of the Alcoholic Drinks market. The country has a rich cultural heritage and a history of traditional alcoholic beverages. These local specialties, such as the famous "Toaka Gasy" rum, have gained popularity both domestically and internationally. The production and consumption of these local drinks support local communities and contribute to the country's economy. Underlying macroeconomic factors also play a role in the development of the Alcoholic Drinks market in Madagascar. The country's economic growth and stability have resulted in an increase in disposable incomes and consumer spending. This has created a favorable environment for the growth of the alcoholic drinks industry. Additionally, the government's efforts to promote tourism have attracted more visitors to the country, leading to an increased demand for alcoholic beverages. In conclusion, the Alcoholic Drinks market in Madagascar is experiencing growth and development due to changing customer preferences, emerging trends, local special circumstances, and underlying macroeconomic factors. The shift towards premium and high-quality products, the popularity of craft beverages, the demand for low-alcohol and non-alcoholic alternatives, the presence of local specialties, and the country's economic growth all contribute to the positive trajectory of the market.

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.