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Key regions: United States, United Kingdom, Worldwide, United Kingdom, Australia
The Spirits market in Niger has been experiencing steady growth in recent years. Customer preferences for alcoholic beverages have shifted towards spirits, driving the demand for this market. The market is characterized by a wide range of spirits, including whiskey, vodka, rum, and gin.
Customer preferences: Nigerian consumers have shown a growing interest in spirits due to several factors. Firstly, spirits are seen as a symbol of sophistication and status, particularly among the younger population. As disposable incomes have increased, consumers are willing to spend more on premium spirits and unique flavors. Additionally, the versatility of spirits in cocktails and mixed drinks has contributed to their popularity. Consumers enjoy experimenting with different flavors and creating their own signature drinks.
Trends in the market: One of the key trends in the spirits market in Niger is the rise of locally produced spirits. Niger has a rich cultural heritage and traditional brewing methods, which have been incorporated into the production of spirits. This trend has gained traction as consumers seek unique and authentic products. Local distilleries have been able to cater to this demand by offering a range of spirits infused with local flavors and ingredients. Another trend in the market is the increasing popularity of craft spirits. Craft spirits are produced by small, independent distilleries and are known for their high-quality ingredients and unique production methods. Consumers are drawn to the story behind these spirits and the artisanal approach taken by craft distillers. This trend aligns with the growing interest in supporting local businesses and sustainability.
Local special circumstances: Niger has a relatively young population, with a significant portion of the population falling within the legal drinking age. This demographic factor has contributed to the growth of the spirits market, as younger consumers are more open to trying new products and flavors. Additionally, Niger has a vibrant nightlife scene, with bars and clubs catering to the growing demand for spirits. This has created a favorable environment for the spirits market to thrive.
Underlying macroeconomic factors: The economic growth in Niger has had a positive impact on the spirits market. As disposable incomes have increased, consumers have more purchasing power to spend on luxury goods, including spirits. Additionally, urbanization and changing lifestyles have also contributed to the growth of the market. As more Nigerians move to urban areas, they are exposed to a wider range of products and experiences, including spirits. In conclusion, the spirits market in Niger is experiencing growth due to changing customer preferences, including a preference for premium and craft spirits. Local production and the rise of craft distilleries have also contributed to the market's growth. The young population and favorable economic conditions in Niger have created a conducive environment for the spirits market to thrive.
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)