Non-Alcoholic Drinks - Ivory Coast

The Non-Alcoholic Drinks market in Ivory Coast has been experiencing significant growth in recent years.

Customer preferences: Ivory Coast has a young and growing population, with a large percentage of the population falling within the working age group. This demographic trend has led to an increase in disposable income and a shift in consumer preferences towards healthier beverage options. As a result, there has been a growing demand for non-alcoholic drinks such as bottled water, carbonated soft drinks, and fruit juices.

Trends in the market: One of the key trends in the Non-Alcoholic Drinks market in Ivory Coast is the increasing popularity of bottled water. With concerns about water quality and safety, consumers are turning to bottled water as a safer alternative. This trend is further fueled by the growing awareness of the importance of hydration for overall health and well-being. Another trend in the market is the growing demand for carbonated soft drinks. Despite concerns about the health effects of sugary drinks, carbonated soft drinks continue to be popular among consumers in Ivory Coast. This can be attributed to the cultural preference for sweet and fizzy beverages, as well as the affordability and availability of these products. Fruit juices have also seen a surge in demand in recent years. Consumers are becoming more health-conscious and are looking for natural and nutritious beverages. Fruit juices offer a convenient way to consume essential vitamins and minerals, making them a popular choice among consumers in Ivory Coast.

Local special circumstances: One of the unique factors in the Non-Alcoholic Drinks market in Ivory Coast is the strong presence of local beverage companies. These companies have a deep understanding of the local market and cater to the specific tastes and preferences of the Ivorian consumers. They often offer a wide range of products that are tailored to the local palate, including traditional fruit juices and herbal drinks.

Underlying macroeconomic factors: The economic growth in Ivory Coast has played a significant role in the development of the Non-Alcoholic Drinks market. The country has experienced a stable and growing economy, with rising incomes and improving living standards. This has led to increased consumer spending power and a higher demand for non-alcoholic beverages. Furthermore, the government has been supportive of the beverage industry, implementing policies to promote local production and reduce import dependency. This has created a favorable business environment for both local and international beverage companies, encouraging investment and innovation in the Non-Alcoholic Drinks market. In conclusion, the Non-Alcoholic Drinks market in Ivory Coast is growing due to changing customer preferences towards healthier beverage options, such as bottled water, carbonated soft drinks, and fruit juices. The market is also influenced by local special circumstances, such as the presence of local beverage companies offering products tailored to the local palate. Additionally, underlying macroeconomic factors, such as economic growth and government support, have contributed to the development 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.