Bottled Water - Equatorial Guinea

The Bottled Water market in Equatorial Guinea has experienced significant growth in recent years, driven by changing consumer preferences, emerging trends, and local special circumstances. Customer preferences in Equatorial Guinea have shifted towards healthier beverage options, with bottled water being perceived as a safer and more convenient alternative to tap water. This change in consumer behavior is in line with global trends, where people are becoming more health-conscious and seeking out products that support their wellbeing. Additionally, the hot and humid climate in Equatorial Guinea further drives the demand for bottled water as a means of hydration. Trends in the market indicate a growing preference for premium and flavored bottled water products. Consumers are willing to pay a premium for higher quality water sourced from natural springs or purified through advanced filtration processes. This trend aligns with the increasing disposable income and changing lifestyles of the population in Equatorial Guinea. Flavored bottled water, such as fruit-infused or sparkling varieties, has also gained popularity among consumers who seek variety and a more enjoyable drinking experience. Local special circumstances play a significant role in the development of the Bottled Water market in Equatorial Guinea. The country faces challenges in terms of water quality and accessibility, especially in rural areas. As a result, bottled water serves as a reliable and safe source of drinking water for many residents. Additionally, the lack of developed infrastructure for tap water distribution further supports the growth of the bottled water market. Underlying macroeconomic factors contribute to the growth of the Bottled Water market in Equatorial Guinea. The country has experienced steady economic growth in recent years, leading to an increase in disposable income and purchasing power. This has allowed consumers to afford premium bottled water products and drive the overall market expansion. Furthermore, urbanization and a growing middle class population have also contributed to the market growth, as these demographic segments are more likely to consume bottled water due to their lifestyle preferences and higher awareness of health and wellness. In conclusion, the Bottled Water market in Equatorial Guinea is developing due to changing customer preferences towards healthier beverages, emerging trends in premium and flavored products, local special circumstances related to water quality and accessibility, and underlying macroeconomic factors such as economic growth and urbanization. These factors are expected to continue driving the growth of the market in the coming years.

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.