Contact
Mon - Fri, 9am - 6pm (EST)
Mon - Fri, 9am - 5pm (SGT)
Mon - Fri, 10:00am - 6:00pm (JST)
Mon - Fri, 9:30am - 5pm (GMT)
Mon - Fri, 9am - 6pm (EST)
Key regions: Worldwide, Australia, Europe, United States, Vietnam
The Ready-to-Drink (RTD) Coffee market in Western Africa is experiencing significant growth and development.
Customer preferences: The increasing popularity of coffee culture and the desire for convenience among consumers are driving the demand for RTD coffee in Western Africa. The younger population, in particular, is embracing the trend of ready-to-drink beverages, including coffee, as a convenient and on-the-go option.
Trends in the market: One of the key trends in the RTD coffee market in Western Africa is the introduction of innovative flavors and blends. Manufacturers are constantly launching new and unique coffee flavors to cater to the diverse taste preferences of consumers. This trend is driven by the increasing demand for variety and experimentation among coffee drinkers. Additionally, the rise of specialty coffee shops and cafes in the region has also influenced the demand for premium and gourmet RTD coffee products. Another trend in the market is the growing popularity of cold brew coffee. Cold brew coffee is made by steeping coffee grounds in cold water for an extended period, resulting in a smoother and less acidic taste compared to traditional hot brewed coffee. This trend is driven by the increasing awareness of the health benefits of cold brew coffee and its refreshing taste, especially in hot climates.
Local special circumstances: The local coffee culture in Western Africa plays a significant role in the development of the RTD coffee market. Countries like Nigeria, Ghana, and Cote d'Ivoire have a long history of coffee production and consumption. This cultural background has created a strong foundation for the acceptance and demand for RTD coffee products in these countries. Additionally, the growing urbanization and changing lifestyles in the region have also contributed to the increasing demand for convenient and ready-to-drink coffee options.
Underlying macroeconomic factors: The economic growth and rising disposable incomes in Western Africa are driving the demand for RTD coffee. As the middle-class population expands, consumers have more purchasing power and are willing to spend on premium and convenient coffee products. Additionally, the increasing urbanization and changing work culture, with more people opting for on-the-go lifestyles, have further fueled the demand for RTD coffee. In conclusion, the Ready-to-Drink (RTD) Coffee market in Western Africa is experiencing growth and development due to the increasing popularity of coffee culture, the desire for convenience, and the introduction of innovative flavors and blends. The local coffee culture, economic growth, and rising disposable incomes are also contributing to the growth of the RTD coffee market in the region.
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.
Mon - Fri, 9am - 6pm (EST)
Mon - Fri, 9am - 5pm (SGT)
Mon - Fri, 10:00am - 6:00pm (JST)
Mon - Fri, 9:30am - 5pm (GMT)
Mon - Fri, 9am - 6pm (EST)