Bottled Water - Benin

The Bottled Water market in Benin has been experiencing significant growth in recent years, driven by changing consumer preferences and increasing health consciousness.

Customer preferences: Consumers in Benin are increasingly opting for bottled water as their beverage of choice due to concerns about the safety and quality of tap water. This shift in consumer preferences can be attributed to the rising awareness about waterborne diseases and the need for clean and safe drinking water. Additionally, the convenience and portability of bottled water make it a popular choice among consumers, especially those leading busy lifestyles.

Trends in the market: One of the key trends in the bottled water market in Benin is the growing demand for premium and functional bottled water. Consumers are willing to pay a premium for bottled water that offers additional benefits such as enhanced hydration, electrolyte replenishment, and added vitamins and minerals. This trend can be attributed to the increasing health consciousness among consumers and their desire for products that offer more than just basic hydration. Another trend in the market is the rising popularity of flavored and infused bottled water. Consumers are seeking variety and are looking for flavored options to enhance their drinking experience. Flavored bottled water, such as those infused with fruits or herbs, are gaining traction in the market as they provide a refreshing and flavorful alternative to plain water.

Local special circumstances: Benin is a country with a tropical climate, characterized by high temperatures and humidity. This creates a favorable environment for the consumption of bottled water as consumers seek to stay hydrated throughout the day. The hot climate also contributes to the increased demand for bottled water during the summer months, as consumers look for ways to quench their thirst and stay cool.

Underlying macroeconomic factors: The growing middle class in Benin, along with increasing disposable incomes, has played a significant role in driving the growth of the bottled water market. As consumers have more purchasing power, they are able to afford the premium prices associated with bottled water. Additionally, rapid urbanization and changing lifestyles have led to an increase in on-the-go consumption, further fueling the demand for bottled water. Furthermore, the government of Benin has implemented regulations and standards to ensure the safety and quality of bottled water. This has instilled confidence among consumers and has contributed to the growth of the market. The government's focus on improving access to clean drinking water in rural areas has also led to an increased demand for bottled water as a reliable and safe alternative. In conclusion, the Bottled Water market in Benin is witnessing growth due to changing consumer preferences, increasing health consciousness, and favorable macroeconomic factors. The demand for premium and functional bottled water, as well as flavored and infused options, is on the rise. The tropical climate and growing middle class are driving factors behind the increasing consumption of bottled water in the country.

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.