Non-Alcoholic Drinks - Benin

The Non-Alcoholic Drinks market in Benin has been experiencing significant growth in recent years.

Customer preferences: Benin has a young and growing population, and this demographic group is increasingly health-conscious. As a result, there is a growing demand for non-alcoholic drinks that are perceived as healthier alternatives to sugary carbonated beverages. Consumers in Benin are also becoming more adventurous in their taste preferences, seeking out new and exotic flavors in their beverages.

Trends in the market: One trend that has been driving the growth of the Non-Alcoholic Drinks market in Benin is the increasing popularity of natural and organic products. Consumers are looking for drinks that are made with natural ingredients and have no artificial additives. This trend is in line with the global shift towards healthier and more sustainable lifestyles. Another trend in the market is the rise of functional beverages. These are drinks that offer additional health benefits beyond hydration. Examples include energy drinks, sports drinks, and drinks with added vitamins and minerals. This trend is driven by consumers' desire for beverages that can help them meet their specific health and wellness goals.

Local special circumstances: Benin is a country with a rich cultural heritage, and this is reflected in the local beverage market. Traditional drinks such as palm wine and ginger beer are still popular among consumers. These drinks are often made using traditional methods and ingredients, and they have a unique taste that appeals to local consumers.

Underlying macroeconomic factors: The Non-Alcoholic Drinks market in Benin is also influenced by macroeconomic factors. The country has experienced steady economic growth in recent years, which has led to an increase in disposable income. This has allowed consumers to spend more on non-essential items such as beverages. In addition, the government has implemented policies to promote the growth of the food and beverage industry, which has created a favorable business environment for companies operating in the Non-Alcoholic Drinks market. In conclusion, the Non-Alcoholic Drinks market in Benin is growing due to changing customer preferences, such as the demand for healthier and more natural products, as well as the rise of functional beverages. The market is also influenced by local special circumstances, such as the popularity of traditional drinks. Finally, macroeconomic factors, such as economic growth and government policies, are also contributing to the development 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 Non-Alcoholic Drinks, 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 Non-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. The market is updated twice a year.