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Wine - Benin

Benin
  • Revenue, at home (e.g., revenue generated in supermarkets and convenience stores) in the Wine market amounts to US$55.8m in 2024.
  • Revenue, out-of-home (e.g., revenue generated in restaurants and bars) amounts to US$16.0m in 2024.
  • Revenue, combined amounts to US$71.8m in 2024.
  • The revenue, at home is expected to grow annually by 2.54% (CAGR 2024-2029).
  • In global comparison, most revenue, at home is generated United States (US$40bn in 2024).
  • In relation to total population figures, the average revenue per capita, at home of US$3.96 are generated in 2024.
  • In the Wine market, volume, at home is expected to amount to 8.7m L by 2024.
  • Volume, out-of-home is expected to amount to 1.0m L in 2024.
  • Volume, combined is expected to amount to 9.7m L in 2024.
  • The Wine market is expected to show a volume growth, at home of 0.7% in 2025.0.
  • The average volume per person, at home in the Wine market is expected to amount to 0.62L in 2024.

Definition:

The Wine market contains alcoholic beverages derived from fermented grapes.

Structure:

The Wine market is divided into the following markets:

  • The Still Wine market refers to wine without the addition of carbon dioxide. This market also contains additional information regarding red wine, white wine, and rosé wine.
  • The Sparkling Wine market refers to wine with the addition of carbon dioxide.
  • The Fortified Wine market refers to wine that has been strengthened with added alcohol.

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.

In-Scope

  • Grape Wine, such as Red Wine
  • Sparkling Wine, such as Champagne
  • Fortified Wine, such as Sherry

Out-Of-Scope

  • Other Fruit Wines, such as Cider or Perry
  • Non-Alcoholic Wine
Wine: market data & analysis - Cover

Market Insights report

Wine: market data & analysis

Study Details

    Revenue

    Notes: Data was converted from local currencies using average exchange rates of the respective year.

    Most recent update: Jun 2024

    Source: Statista Market Insights

    Most recent update: Jun 2024

    Source: Statista Market Insights

    Volume

    Most recent update: Jun 2024

    Source: Statista Market Insights

    Most recent update: Jun 2024

    Source: Statista Market Insights

    Price

    Most recent update: Jun 2024

    Source: Statista Market Insights

    Sales Channels

    Most recent update: Mar 2024

    Source: Statista Market Insights

    Global Comparison

    Most recent update: Jun 2024

    Source: Statista Market Insights

    Analyst Opinion

    The Wine market in Benin is developing steadily, driven by changing customer preferences, emerging trends, local special circumstances, and underlying macroeconomic factors. Customer preferences in Benin are shifting towards wine as a popular alcoholic beverage. Wine is increasingly seen as a sophisticated and trendy choice, especially among the younger population. This preference is influenced by global trends, where wine consumption is on the rise worldwide. As more people travel and experience different cultures, there is a growing interest in exploring new flavors and beverages, including wine. Trends in the wine market in Benin reflect the global demand for diverse and high-quality wines. Consumers are becoming more knowledgeable about wine varieties, regions, and production methods. They are seeking wines that offer unique flavors and characteristics, such as organic or biodynamic wines. This trend is driven by a desire for healthier and more sustainable products. Local special circumstances also contribute to the development of the wine market in Benin. The country has a growing middle class with increased purchasing power, which allows for greater spending on luxury goods, including wine. Additionally, Benin has a thriving tourism industry, attracting visitors from around the world who want to explore the country's rich cultural heritage. These tourists often seek out local wines as part of their culinary experiences, boosting the demand for wine in the market. Underlying macroeconomic factors play a significant role in the growth of the wine market in Benin. The country's stable economic conditions and rising disposable incomes have created a favorable environment for the wine industry to thrive. Furthermore, government policies promoting tourism and the development of the hospitality sector have also contributed to the increased consumption of wine. In conclusion, the wine market in Benin is experiencing steady growth due to changing customer preferences, emerging trends, local special circumstances, and underlying macroeconomic factors. As consumers become more knowledgeable about wine and seek unique flavors and experiences, the demand for diverse and high-quality wines is expected to continue rising. The country's growing middle class and thriving tourism industry further support this growth.

    Methodology

    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.

    Consumer

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    Wine: market data & analysis - BackgroundWine: market data & analysis - Cover

    Key Market Indicators

    Notes: Based on IMF, World Bank, UN and Eurostat

    Most recent update: Sep 2024

    Source: Statista Market Insights

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