Spirits - Togo

The Spirits market in Togo has been experiencing steady growth in recent years, driven by changing customer preferences, emerging trends, and local special circumstances. Customer preferences in the Spirits market in Togo have shifted towards premium and craft spirits. Consumers are increasingly seeking high-quality, unique, and artisanal products that offer a more personalized and authentic experience. This trend is in line with the global movement towards premiumization, where consumers are willing to pay more for products that are perceived to be of higher quality and offer a superior taste. Additionally, there is a growing interest in locally produced spirits, as consumers value products that are made with locally sourced ingredients and support local businesses. One of the key trends in the Spirits market in Togo is the rise of flavored spirits. Flavored spirits, such as fruit-infused vodkas and botanical gins, have gained popularity among consumers who are looking for new and exciting flavor profiles. This trend is driven by the desire for variety and experimentation, as consumers seek out unique and innovative products that go beyond traditional spirits. The introduction of flavored spirits has also attracted new consumers to the market, as the flavors can be more approachable and appealing to those who are new to spirits. Another trend in the Spirits market in Togo is the increasing demand for ready-to-drink (RTD) cocktails. RTD cocktails offer convenience and simplicity, as they are pre-mixed and ready to consume. This trend is driven by changing consumer lifestyles and the desire for on-the-go options. RTD cocktails are particularly popular among younger consumers who are looking for convenient and hassle-free ways to enjoy cocktails. The rise of RTD cocktails has also been fueled by the growing cocktail culture, as consumers are becoming more interested in exploring different cocktail recipes and flavors. In addition to changing customer preferences and emerging trends, there are also local special circumstances that are shaping the Spirits market in Togo. One of these circumstances is the cultural significance of spirits in Togolese society. Spirits are often consumed during social gatherings, celebrations, and religious ceremonies, making them an integral part of the local culture. This cultural significance has contributed to the steady demand for spirits in the market. Underlying macroeconomic factors also play a role in the development of the Spirits market in Togo. The country's steady economic growth and increasing disposable income have led to a rise in consumer spending on luxury and indulgence products, including spirits. Additionally, the growing tourism industry in Togo has attracted international visitors who are interested in experiencing the local spirits and contributing to the market's growth. Overall, the Spirits market in Togo is experiencing growth due to changing customer preferences, emerging trends, local special circumstances, and underlying macroeconomic factors. The market is expected to continue evolving as consumers seek out premium and craft spirits, flavored spirits, and convenient RTD cocktails.

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.