Bottled Water - Ivory Coast

The Bottled Water market in Ivory Coast has experienced significant growth in recent years, driven by changing customer preferences, market trends, and local special circumstances.

Customer preferences: Customers in Ivory Coast have shown a growing preference for bottled water over tap water due to concerns about water quality and safety. This preference is driven by factors such as increasing urbanization, rising disposable incomes, and a desire for convenience. Bottled water is seen as a healthier and more reliable alternative to tap water, especially in areas where access to clean drinking water is limited.

Trends in the market: One of the key trends in the bottled water market in Ivory Coast is the increasing demand for premium and flavored water products. Consumers are becoming more health-conscious and are willing to pay a premium for bottled water that offers additional benefits such as enhanced flavors, added vitamins, or minerals. This trend is also influenced by the growing popularity of functional beverages and the desire for variety in beverage choices. Another trend in the market is the rise of eco-friendly packaging options. Customers are becoming more aware of the environmental impact of plastic bottles and are seeking alternatives such as biodegradable or recyclable packaging. This trend is driven by both consumer demand and government regulations aimed at reducing plastic waste.

Local special circumstances: Ivory Coast has a tropical climate, with high temperatures and humidity throughout the year. This creates a favorable environment for the consumption of bottled water as customers seek to stay hydrated and refreshed. Additionally, the country has a growing tourism industry, with visitors from around the world who may prefer bottled water for safety and convenience reasons.

Underlying macroeconomic factors: The growth of the bottled water market in Ivory Coast is also influenced by underlying macroeconomic factors. The country has experienced steady economic growth in recent years, leading to an increase in disposable incomes and consumer spending. This has allowed more people to afford bottled water and contributed to the overall growth of the market. In conclusion, the Bottled Water market in Ivory Coast is developing due to changing customer preferences, market trends, local special circumstances, and underlying macroeconomic factors. Customers are increasingly choosing bottled water over tap water for its perceived quality and convenience. The market is also witnessing trends such as the demand for premium and flavored water products, as well as eco-friendly packaging options. These trends are driven by factors such as urbanization, rising disposable incomes, and a desire for healthier beverage choices. The tropical climate and growing tourism industry in Ivory Coast further contribute to the growth 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.