Ready-to-Drink (RTD) Coffee - Benin

The Ready-to-Drink (RTD) Coffee market in Benin is experiencing significant growth due to changing customer preferences and the influence of global trends.

Customer preferences: Benin, like many other countries in the region, has seen a shift in consumer preferences towards convenience and on-the-go products. This has led to an increased demand for ready-to-drink beverages, including coffee. Busy lifestyles and the need for quick and easy refreshments have contributed to the popularity of RTD coffee among consumers in Benin.

Trends in the market: The RTD coffee market in Benin is following the global trend of increasing consumption of coffee-based beverages. This trend is driven by factors such as urbanization, a growing middle class, and the influence of Western culture. As more people in Benin move to urban areas and adopt a fast-paced lifestyle, the demand for convenient and ready-to-drink coffee products is expected to continue to rise.

Local special circumstances: Benin has a strong coffee culture, with coffee being an integral part of daily life for many people. Traditionally, coffee is brewed and consumed in homes and cafes. However, the introduction of RTD coffee has provided a convenient alternative for those who are always on the move or do not have the time to prepare coffee themselves. This has contributed to the growing popularity of RTD coffee in Benin.

Underlying macroeconomic factors: The economic development and increasing disposable incomes in Benin have also played a role in the growth of the RTD coffee market. As more people have the means to afford such products, the demand for RTD coffee has increased. Additionally, the availability of RTD coffee in various price ranges and flavors has made it accessible to a wider range of consumers. In conclusion, the Ready-to-Drink (RTD) Coffee market in Benin is experiencing growth due to changing customer preferences, the influence of global trends, and the underlying macroeconomic factors. The convenience and on-the-go nature of RTD coffee products, combined with the strong coffee culture in Benin, have contributed to the increasing popularity of this market. As the country continues to develop economically and consumer lifestyles evolve, the demand for RTD coffee is expected to further grow.

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.