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Key regions: United States, United Kingdom, Worldwide, United Kingdom, Australia
The Spirits market in Egypt has witnessed significant growth in recent years, driven by changing customer preferences and favorable local special circumstances.
Customer preferences: Egyptian consumers have shown a growing preference for premium and imported spirits, especially whisky and vodka. This shift in preferences can be attributed to the increasing disposable income and changing lifestyles of the country's middle-class population. Additionally, the younger generation is more open to experimenting with different types of spirits, leading to a rise in demand for craft and artisanal products.
Trends in the market: One of the key trends in the Egyptian spirits market is the growing popularity of cocktails. As the country's nightlife scene continues to evolve, there is a rising demand for spirits that can be used to create unique and innovative cocktails. This trend is not limited to bars and restaurants, as more consumers are also experimenting with cocktail recipes at home. Another trend in the market is the increasing focus on health and wellness. As consumers become more health-conscious, there is a growing demand for low-calorie and organic spirits. This trend is driven by the belief that consuming healthier spirits can contribute to a better overall lifestyle.
Local special circumstances: Egypt has a large population of young adults who are increasingly interested in exploring new and different experiences. This demographic shift has led to a rise in the number of bars, clubs, and restaurants that cater to this segment. These establishments often offer a wide range of spirits, including local and international brands, to meet the diverse preferences of their customers.
Underlying macroeconomic factors: The growth of the spirits market in Egypt can also be attributed to favorable macroeconomic factors. The country's economy has been steadily growing, leading to an increase in disposable income. This has allowed consumers to spend more on premium and imported spirits. Additionally, the tourism industry plays a significant role in driving the demand for spirits, as Egypt is a popular tourist destination. In conclusion, the Spirits market in Egypt is experiencing growth due to changing customer preferences, including a shift towards premium and imported spirits, as well as a growing interest in cocktails and health-conscious choices. The local special circumstances, such as the rise of bars and restaurants catering to young adults, further contribute to the market's development. The favorable macroeconomic factors, including the country's growing economy and thriving tourism industry, also play a significant role in driving the demand for spirits in Egypt.
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.
Mon - Fri, 9am - 6pm (EST)
Mon - Fri, 9am - 5pm (SGT)
Mon - Fri, 10:00am - 6:00pm (JST)
Mon - Fri, 9:30am - 5pm (GMT)
Mon - Fri, 9am - 6pm (EST)