Ready-to-Drink (RTD) Coffee - Senegal

The Ready-to-Drink (RTD) Coffee market in Senegal is experiencing significant growth and development.

Customer preferences: Senegalese consumers are increasingly seeking convenience and on-the-go options, which has led to a growing demand for RTD coffee. The busy lifestyles of urban consumers in Senegal have contributed to the popularity of ready-to-drink beverages, including coffee. Additionally, the younger generation is more open to trying new and innovative products, further driving the demand for RTD coffee.

Trends in the market: The RTD coffee market in Senegal is witnessing the introduction of a wide variety of flavors and formulations to cater to diverse consumer preferences. Manufacturers are focusing on developing unique and appealing flavors that resonate with the local taste preferences. Additionally, there is a growing trend of incorporating natural and organic ingredients in RTD coffee products to meet the increasing demand for healthier options.

Local special circumstances: Senegal's growing urbanization and rising disposable incomes have contributed to the expansion of the RTD coffee market. As more people move to cities and adopt a fast-paced lifestyle, the demand for convenient and portable beverages like RTD coffee is on the rise. Furthermore, the presence of a young and tech-savvy population in Senegal has facilitated the growth of e-commerce platforms, making it easier for consumers to access and purchase RTD coffee products.

Underlying macroeconomic factors: Senegal's stable economic growth and improving infrastructure have created a favorable environment for the development of the RTD coffee market. The country's GDP growth and increasing urbanization have resulted in a larger consumer base with higher purchasing power. Additionally, the government's efforts to promote entrepreneurship and attract foreign investment have boosted the overall business environment, enabling the growth of the RTD coffee market. In conclusion, the Ready-to-Drink (RTD) Coffee market in Senegal is experiencing rapid growth due to changing customer preferences, the introduction of new flavors and formulations, local special circumstances such as urbanization and rising disposable incomes, and favorable macroeconomic factors. As Senegalese consumers continue to seek convenience and on-the-go options, the demand for RTD coffee is expected to further increase 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.