Spirits - Zimbabwe | Statista Market Forecast

Revenue, at home (e.g., revenue generated in supermarkets and convenience stores) in the Spirits market amounts to US$15.2m in 2024.
Revenue, out-of-home (e.g., revenue generated in restaurants and bars) amounts to US$152.9k in 2024.
Revenue, combined amounts to US$15.3m in 2024.
The revenue, at home is expected to grow annually by 10.18% (CAGR 2024-2029).
In global comparison, most revenue, at home is generated China (US$146bn in 2024).
In relation to total population figures, the average revenue per capita, at home of US$0.89 are generated in 2024.
In the Spirits market, volume, at home is expected to amount to 6.5m L by 2024.
Volume, out-of-home is expected to amount to 100.0k L in 2024.
Volume, combined is expected to amount to 6.6m L in 2024.
The Spirits market is expected to show a volume growth, at home of 0.6% in 2025.0.
The average volume per person, at home in the Spirits market is expected to amount to 0.38L in 2024.

Definition:

The Spirits market includes alcoholic beverages that have been produced through the distillation of wine, fermented fruits, or grains. Due to the distillation process, the alcohol content of spirits is much higher than that of most wines and beers, typically ranging from 20% to 50% alcohol by volume (ABV).

Structure:

The Spirits market is divided into 8 markets:

The Whisky market encompasses spirits on a grain basis that have been aged in wooden casks for a duration of at least three years.
The Vodka market encompasses spirits based on grain and/or potatoes.
The Rum market encompasses spirits based on sugar cane.
The Gin market encompasses spirits based on juniper berries.
The Brandy market encompasses spirits based on fermented fruit juice.
The Tequila market encompasses spirits made primarily from the blue agave plant (Agave tequilana) in Mexico.
The Soju market encompasses the Korean distilled beverage, Soju, which is traditionally made from rice, barley, or sweet potatoes.
The Liqueurs & Other Spirits market encompasses all other spirits not previously mentioned as well as Ready-to-Drink (RTD) cocktails.

Additional information:

The market comprises revenue and average revenue per capita, volume and average volume per capita, price per liter, as well as sales channels. Per capita figures refer to a country’s or region’s whole population.

At-home market data covers retail sales via super- and hypermarkets, eCommerce, convenience stores, and similar sales channels. Out-of-home market data includes all sales in hotels and restaurants, sales by catering companies, as well as sales in cafés, bars, and similar hospitality service establishments. Combined numbers encompass both the at-home market and the out-of-home market. All prices are valued at retail selling prices, including all sales and consumption taxes.

Key players include Diageo (e.g., Johnnie Walker, Smirnoff, and Tanqueray), Pernod Ricard, and Kweichow Moutai.

Whisky, such as Jack Daniel's Tenessee Whiskey
Vodka, such as Absolut Vodka
Rum, such as Bacardi Rum
Gin, such as Ginebra San Miguel
Brandy, such as Ararat Brandy

Wine, such as Red Wine
Beer, such as Budweiser
Non-Alcoholic Spirits, such as Tanqueray 0.0

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

Customer preferences: Zimbabwean consumers have shown a growing interest in premium and high-quality spirits. This can be attributed to an increase in disposable income and changing consumer tastes. Consumers are willing to pay a premium for spirits that offer unique flavors and are made from high-quality ingredients. Whiskey, vodka, and rum are particularly popular among Zimbabwean consumers.

Trends in the market: One of the key trends in the Spirits market in Zimbabwe is the rise of local craft spirits. Zimbabwean distilleries are gaining recognition for their unique and artisanal spirits, which are made using traditional methods and locally sourced ingredients. These craft spirits appeal to consumers who are looking for products with a distinct flavor profile and a connection to the local culture. Additionally, there is a growing trend of consumers seeking out spirits that are organic, sustainable, and environmentally friendly. Another trend in the market is the increasing popularity of cocktail culture. Zimbabwean consumers are becoming more adventurous in their drinking choices and are experimenting with different cocktail recipes. This trend has led to a growing demand for spirits that are versatile and can be used in a variety of cocktails. As a result, there is a growing market for flavored spirits and mixers.

Local special circumstances: The Spirits market in Zimbabwe is also influenced by local cultural and social norms. Zimbabwe has a strong drinking culture, with alcohol being an integral part of social gatherings and celebrations. This cultural norm contributes to the steady demand for spirits in the country. Additionally, the tourism industry in Zimbabwe plays a significant role in driving the demand for spirits, as tourists often seek out local spirits as souvenirs.

Underlying macroeconomic factors: The growth of the Spirits market in Zimbabwe can be attributed to several macroeconomic factors. The country has experienced a period of economic stability in recent years, which has led to an increase in disposable income. This has allowed consumers to spend more on discretionary items such as spirits. Additionally, the growth of the middle class in Zimbabwe has created a larger consumer base for spirits. In conclusion, the Spirits market in Zimbabwe is experiencing growth due to changing customer preferences, including a demand for premium and high-quality spirits, the rise of local craft spirits, and the increasing popularity of cocktail culture. Local cultural norms and the tourism industry also play a significant role in driving the demand for spirits. The country's economic stability and the growth of the middle class are underlying macroeconomic factors that contribute to the growth 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.

This report presents a comprehensive analysis and additional information on the Consumer market, in a PDF format.

The term “spirits” refers to an alcoholic beverage that has been distilled, contains no added sugar, and has at least 20 percent alcohol by volume. The term is derived from the medieval practice of alchemy and refers to the essential liquid element obtained from a substance through distillation, the “spirit” of the substance, so to speak. Popular spirits include whiskey, rum, vodka, tequila, and gin, among others.