Wine - Angola

The Wine market in Angola has been experiencing significant growth in recent years.

Customer preferences: Angolan consumers have shown an increasing interest in wine, both as a beverage and as a status symbol. Wine is often associated with sophistication and elegance, and many Angolans are willing to pay a premium for high-quality wines. Red wine is particularly popular among Angolan consumers, as it is believed to have health benefits and is often seen as a symbol of prosperity.

Trends in the market: One of the key trends in the Angolan wine market is the growing demand for imported wines. Angolan consumers have become more adventurous in their wine choices and are seeking out wines from traditional wine-producing countries such as France, Italy, and Portugal. This trend is driven by a desire for authenticity and a preference for wines with a long history and established reputation. Additionally, the growing middle class in Angola has increased disposable income, allowing more consumers to afford imported wines. Another trend in the market is the rise of wine tourism. Angolans are increasingly interested in visiting wine-producing regions and vineyards around the world. This trend is fueled by a desire to learn more about the production process and to experience the culture and lifestyle associated with wine. Wine tourism also provides an opportunity for Angolans to taste a wide variety of wines and expand their knowledge and appreciation of different wine styles.

Local special circumstances: Angola's wine market is unique due to the country's historical ties to Portugal. Portuguese culture and traditions have a strong influence on Angolan society, including its wine preferences. Many Angolans have a preference for Portuguese wines, which are seen as familiar and of high quality. This preference is also driven by the large Portuguese community in Angola, who have introduced and popularized Portuguese wines in the country.

Underlying macroeconomic factors: The growth of the wine market in Angola can be attributed to several underlying macroeconomic factors. The country's economy has been steadily growing in recent years, driven by oil exports and increased foreign investment. This has led to a rise in disposable income and an expanding middle class, who have more purchasing power to spend on luxury goods such as wine. Furthermore, Angola has a young and urbanized population, which is more open to trying new products and experiences. This demographic shift has created a favorable environment for the growth of the wine market, as younger consumers are more willing to experiment with different wine styles and brands. In conclusion, the Wine market in Angola is developing due to the increasing interest in wine among Angolan consumers, the growing demand for imported wines, the rise of wine tourism, the influence of Portuguese culture, and the underlying macroeconomic factors such as economic growth and a young and urbanized population.

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.