Ready-to-Drink (RTD) Coffee & Tea - Equatorial Guinea

The Ready-to-Drink (RTD) Coffee & Tea market in Equatorial Guinea is experiencing significant growth and development.

Customer preferences: Equatorial Guinea, like many other countries in Africa, has a growing consumer base that is increasingly interested in convenience and on-the-go products. With the rise of urbanization and a fast-paced lifestyle, consumers are seeking beverages that are convenient and can be consumed on the move. Ready-to-Drink (RTD) Coffee & Tea products perfectly align with these preferences, offering a quick and easy solution for consumers who want their coffee or tea fix without the need for brewing or preparation.

Trends in the market: The Ready-to-Drink (RTD) Coffee & Tea market in Equatorial Guinea is witnessing a surge in demand due to several factors. Firstly, the increasing presence of international coffee and tea chains in the country has contributed to the popularity of RTD beverages. These chains have introduced consumers to the concept of ready-to-drink coffee and tea, creating a demand for similar products in the local market. Secondly, the younger population in Equatorial Guinea is driving the growth of the RTD Coffee & Tea market. The younger generation is more open to trying new products and is willing to experiment with different flavors and varieties. This has led to the introduction of a wide range of RTD Coffee & Tea products in the market, catering to the diverse tastes and preferences of consumers.

Local special circumstances: Equatorial Guinea's warm climate also plays a role in the popularity of RTD Coffee & Tea products. The hot weather encourages consumers to seek refreshing and cooling beverages, making RTD options an attractive choice. Additionally, the convenience and portability of these beverages make them ideal for consumption on the go, whether it's during a commute or a day at the beach.

Underlying macroeconomic factors: The growing economy of Equatorial Guinea has also contributed to the development of the RTD Coffee & Tea market. As disposable incomes rise, consumers have more purchasing power and are willing to spend on premium and convenient products. This has created a favorable environment for the growth of the RTD Coffee & Tea market, as consumers are willing to pay a premium for the convenience and quality offered by these products. In conclusion, the Ready-to-Drink (RTD) Coffee & Tea market in Equatorial Guinea is experiencing significant growth and development due to the preferences of consumers for convenience and on-the-go products, the presence of international coffee and tea chains, the influence of the younger population, the country's warm climate, and the growing economy. These factors have created a favorable environment for the growth of the RTD Coffee & Tea market in Equatorial Guinea.

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.