Juices - Equatorial Guinea

The Juices market in Equatorial Guinea is experiencing significant growth and development.

Customer preferences: Equatorial Guinea has witnessed a shift in customer preferences towards healthier beverage options, including juices. With increasing awareness about the importance of a balanced diet and the benefits of consuming fruits, consumers in Equatorial Guinea are seeking out nutritious and refreshing juices. They are looking for products that are made from high-quality fruits and do not contain any artificial additives or preservatives. Additionally, there is a growing demand for a variety of flavors to cater to different taste preferences.

Trends in the market: One of the key trends in the Juices market in Equatorial Guinea is the rising popularity of natural and organic juices. Consumers are increasingly concerned about the source and quality of the fruits used in the production of juices. They are willing to pay a premium for products that are made from organic fruits and do not contain any synthetic chemicals. This trend is driven by a desire for healthier and more sustainable options. Another trend in the market is the growing availability of packaged juices in convenient formats. As busy lifestyles become more prevalent in Equatorial Guinea, consumers are looking for on-the-go beverage options. Packaged juices provide a convenient and portable solution for consumers who want to enjoy a refreshing drink while on the move. This trend is supported by the expansion of modern retail channels, such as supermarkets and convenience stores, which offer a wide range of packaged juice options.

Local special circumstances: Equatorial Guinea has a tropical climate that is conducive to the cultivation of a variety of fruits. This abundance of natural resources allows for the production of fresh and flavorful juices. Local fruit farmers and juice producers have capitalized on this advantage by sourcing fruits locally and producing juices that are unique to the region. This has created a sense of pride among consumers, who appreciate the locally sourced and produced juices.

Underlying macroeconomic factors: The growing Juices market in Equatorial Guinea can be attributed to several macroeconomic factors. Firstly, the country has experienced steady economic growth in recent years, which has led to an increase in disposable income among consumers. This has enabled them to spend more on premium and healthier beverage options, such as juices. Secondly, the government of Equatorial Guinea has implemented policies to promote domestic production and reduce reliance on imports. This has created opportunities for local juice producers to expand their operations and cater to the growing demand for juices in the country. Additionally, the government has also invested in infrastructure development, such as improving transportation networks and expanding retail channels, which has facilitated the distribution of juices to a wider consumer base. In conclusion, the Juices market in Equatorial Guinea is developing due to changing customer preferences, including a shift towards healthier options and convenience. The market is also influenced by local special circumstances, such as the abundance of fruits and the pride associated with locally sourced and produced juices. The underlying macroeconomic factors, including economic growth and government policies, have further supported 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.