Ready-to-Drink (RTD) Coffee - Sierra Leone

The Ready-to-Drink (RTD) Coffee market in Sierra Leone has been experiencing steady growth in recent years.

Customer preferences: Sierra Leoneans have shown a growing preference for convenience and on-the-go beverages, which has contributed to the rise in popularity of RTD coffee. The busy lifestyles of urban consumers, coupled with the increasing influence of Western culture, have led to a shift in beverage consumption patterns. RTD coffee offers a convenient and quick option for those looking for a caffeine boost or a refreshing drink.

Trends in the market: One trend that has been observed in the RTD coffee market in Sierra Leone is the increasing demand for flavored and premium options. Consumers are seeking unique and indulgent flavors, such as caramel, mocha, and vanilla, to enhance their coffee-drinking experience. This trend is driven by the desire for variety and the influence of international coffee chains. Another trend in the market is the growing popularity of cold brew coffee. Cold brew coffee is brewed with cold water over an extended period of time, resulting in a smoother and less acidic taste compared to traditional hot brewed coffee. This trend is in line with the global shift towards healthier and more natural beverages, as cold brew coffee is often perceived as a healthier alternative to sugary soft drinks.

Local special circumstances: Sierra Leone is a country with a tropical climate, which makes cold beverages particularly appealing to consumers. The refreshing nature of cold RTD coffee products aligns well with the hot and humid weather conditions in the country. Additionally, the rising middle class in Sierra Leone has led to an increase in disposable income, allowing consumers to indulge in premium RTD coffee options.

Underlying macroeconomic factors: The economic stability and growing middle class in Sierra Leone have contributed to the development of the RTD coffee market. With a stable economy and increasing purchasing power, consumers are more willing to spend on non-essential items such as RTD coffee. Furthermore, the growing urbanization in the country has led to a higher concentration of consumers in cities, creating a larger market for RTD coffee companies to tap into. In conclusion, the Ready-to-Drink (RTD) Coffee market in Sierra Leone is witnessing growth due to changing customer preferences, including a desire for convenience and indulgence. The market is also influenced by global trends, such as the demand for flavored and premium options, as well as the popularity of cold brew coffee. The local special circumstances, such as the tropical climate and rising middle class, further contribute to the development of the market. Overall, the RTD coffee market in Sierra Leone is poised for continued growth 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.