Ready-to-Drink (RTD) Coffee & Tea - Benin

The Ready-to-Drink (RTD) Coffee & Tea market in Benin has been experiencing significant growth in recent years. Customer preferences for convenient and on-the-go beverages, coupled with local special circumstances and underlying macroeconomic factors, have contributed to the development of this market. Customer preferences in Benin have shifted towards the consumption of RTD Coffee & Tea due to their convenience and portability. Busy lifestyles and the need for quick and easy refreshment options have led consumers to choose these ready-to-drink beverages over traditional hot coffee and tea. Additionally, the younger population in Benin, who are more open to trying new and innovative products, have embraced RTD Coffee & Tea as a trendy and fashionable beverage choice. Trends in the market indicate a growing demand for RTD Coffee & Tea in Benin. The increasing urbanization and modernization of the country have led to a rise in the number of coffee shops and cafes, which has in turn increased awareness and accessibility of RTD Coffee & Tea products. Furthermore, the influence of Western culture and the popularity of international coffee and tea chains have also contributed to the growth of this market. Local special circumstances in Benin, such as the hot climate and the prevalence of street vendors, have also played a role in the development of the RTD Coffee & Tea market. The tropical weather in Benin makes cold beverages more appealing, and RTD Coffee & Tea provides a refreshing option for consumers. Additionally, the presence of street vendors who sell these products in busy areas and markets has made RTD Coffee & Tea easily available to a wide range of consumers. Underlying macroeconomic factors have also contributed to the growth of the RTD Coffee & Tea market in Benin. The country's stable economic growth and rising disposable incomes have allowed consumers to spend more on discretionary items such as beverages. Additionally, the increasing urbanization and development of the middle class have created a larger consumer base for RTD Coffee & Tea products. In conclusion, the Ready-to-Drink (RTD) Coffee & Tea market in Benin is developing due to customer preferences for convenience, local special circumstances such as the hot climate and prevalence of street vendors, and underlying macroeconomic factors including stable economic growth and rising disposable incomes. These factors have created a favorable environment for the growth of this market, and it is expected to continue expanding in the coming years.

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.