Non-Alcoholic Drinks - Equatorial Guinea

The Non-Alcoholic Drinks market in Equatorial Guinea is experiencing significant growth and development. Customer preferences, trends in the market, local special circumstances, and underlying macroeconomic factors are all contributing to this positive trend. Customer preferences in Equatorial Guinea are shifting towards healthier beverage options, which is driving the demand for non-alcoholic drinks. Consumers are becoming more health-conscious and are actively seeking out beverages that are low in sugar, free from artificial additives, and made from natural ingredients. This preference for healthier options is leading to an increased demand for non-alcoholic drinks such as bottled water, fruit juices, and herbal teas. Trends in the market are also playing a role in the development of the Non-Alcoholic Drinks market in Equatorial Guinea. The global trend towards wellness and the increasing popularity of functional beverages are influencing the local market. Consumers are looking for drinks that offer additional health benefits, such as enhanced hydration, improved digestion, or increased energy. This has led to the emergence of new product categories in the non-alcoholic drinks market, such as infused waters, probiotic drinks, and plant-based beverages. Local special circumstances in Equatorial Guinea are contributing to the growth of the Non-Alcoholic Drinks market. The country has a young and growing population, with a significant portion of the population under the age of 30. This demographic trend is driving the demand for non-alcoholic drinks, as younger consumers are more health-conscious and are actively seeking out healthier beverage options. Additionally, the rising middle class in Equatorial Guinea has more disposable income to spend on non-alcoholic drinks, further driving market growth. Underlying macroeconomic factors are also playing a role in the development of the Non-Alcoholic Drinks market in Equatorial Guinea. The country's economy has been growing steadily in recent years, leading to an increase in consumer purchasing power. This has allowed consumers to spend more on non-essential items such as non-alcoholic drinks. Additionally, the government's efforts to promote economic diversification and reduce dependence on oil revenues have created a more favorable business environment, attracting investment in the non-alcoholic drinks sector. In conclusion, the Non-Alcoholic Drinks market in Equatorial Guinea is experiencing growth and development due to changing customer preferences, global trends, local special circumstances, and underlying macroeconomic factors. The demand for healthier beverage options, the popularity of functional beverages, the young and growing population, the rising middle class, and the favorable business environment are all contributing to the positive trend in 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.