Bottled Water - Senegal

The Bottled Water market in Senegal has been experiencing significant growth in recent years.

Customer preferences: One of the main reasons for this growth is the increasing health consciousness among consumers. As people become more aware of the importance of staying hydrated and maintaining a healthy lifestyle, the demand for bottled water has been on the rise. Additionally, the convenience factor of bottled water has also contributed to its popularity, as it can be easily carried and consumed on the go.

Trends in the market: Another trend in the market is the growing preference for premium and flavored bottled water. Consumers are willing to pay a premium for bottled water that offers additional benefits such as enhanced hydration or unique flavors. This trend is driven by the desire for variety and a more enjoyable drinking experience.

Local special circumstances: Senegal, being a country with a warm climate, has a high demand for bottled water. The hot weather conditions make it essential for people to stay hydrated, and bottled water provides a convenient and safe option for them. Additionally, the lack of access to clean drinking water in some areas of the country also drives the demand for bottled water.

Underlying macroeconomic factors: The economic growth in Senegal has also contributed to the development of the bottled water market. As the country's economy improves, consumers have more disposable income to spend on bottled water. This has led to an increase in the purchasing power of consumers and a higher demand for premium bottled water brands. In conclusion, the Bottled Water market in Senegal is growing due to the increasing health consciousness among consumers, the convenience factor of bottled water, and the preference for premium and flavored options. The warm climate and lack of access to clean drinking water in some areas of the country also contribute to the market's development. Additionally, the economic growth in Senegal has led to an increase in the purchasing power of consumers, further driving the demand for bottled water.

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.