Soft Drinks - Benin | Statista Market Forecast

Revenue, at home (e.g., revenue generated in supermarkets and convenience stores) in the Soft Drinks market amounts to US$183.40m in 2024.
Revenue, out-of-home (e.g., revenue generated in restaurants and bars) amounts to US$23.62m in 2024.
Revenue, combined amounts to US$207.00m in 2024.
The revenue, at home is expected to grow annually by 3.34% (CAGR 2024-2029).
In global comparison, most revenue, at home is generated United States (US$114bn in 2024).
In relation to total population figures, the average revenue per capita, at home of US$13.03 are generated in 2024.
In the Soft Drinks market, volume, at home is expected to amount to 164.10m L by 2024.
Volume, out-of-home is expected to amount to 5.14m L in 2024.
Volume, combined is expected to amount to 169.30m L in 2024.
The Soft Drinks market is expected to show a volume growth, at home of 2.3% in 2025.0.
The average volume per person, at home in the Soft Drinks market is expected to amount to 11.66L in 2024.

Definition:

The market Soft Drinks covers varieties of prepared water-based beverages to which flavoring additives (sugar or sweeteners, aromas etc.) have been added. These include cola drinks and lemonades, but also energy drinks, fruit nectars and soft drinks with fruit juice content, as well as value-added or flavored water. Coffee and tea-based drinks are not included.

Structure:

The Soft Drinks market is structured into 3 markets:

Carbonated Soft Drinks denote all artificially sweetened and carbonated Non-Alcoholic Drinks.
Non-Carbonated Soft Drinks contain non-alcoholic liquid refreshment beverages that are not artificially carbonated.
Energy & Sports Drinks include energy drinks and sports drinks, providing functional benefits such as mental and physical stimulation.

Additional information:

The market comprises revenue and average revenue per capita, volume and average volume per capita, price per liter, as well as sales channels. Per capita figures refer to a country’s or region’s whole population.

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.

Key players include The Coca-Cola Company, PepsiCo, Suntory, Red Bull, and Keurig Dr Pepper.

Carbonated Soft Drinks (Cola, Lemonade etc.)
Non-Carbonated Soft Drinks (nectars, value-added or flavoured water etc.)
Energy & Sports Drinks

Hot Drinks
Powdered drink mixes and syrups (e.g. Post-Mix Drinks)

The Soft Drinks market in Benin has been experiencing significant growth in recent years. Customer preferences have shifted towards healthier beverage options, driving the demand for natural and low-sugar soft drinks. This trend is in line with the global market, where consumers are becoming more health-conscious and seeking alternatives to traditional sugary drinks.

Customer preferences: In Benin, consumers are increasingly opting for soft drinks that are made with natural ingredients and have lower sugar content. This is driven by a growing awareness of the negative health effects of consuming high amounts of sugar. As a result, there has been a rise in the demand for fruit juices, flavored water, and other non-carbonated beverages. Consumers are also looking for products that are free from artificial flavors, colors, and preservatives.

Trends in the market: The trend towards healthier soft drinks is being reflected in the product offerings of both domestic and international soft drink companies operating in Benin. Many companies are introducing new products that cater to the changing preferences of consumers. For example, there has been an increase in the availability of natural fruit juices and flavored water in the market. Additionally, companies are investing in marketing campaigns that promote the health benefits of their products, such as the use of natural ingredients and reduced sugar content.

Local special circumstances: Benin has a young and growing population, which presents a significant opportunity for soft drink companies. The youth in Benin are increasingly becoming a target market for soft drinks, as they are more likely to be open to trying new products and are influenced by global trends. Additionally, the urbanization and modernization of the country have led to an increase in disposable income, allowing consumers to spend more on beverages.

Underlying macroeconomic factors: The economic growth and stability in Benin have contributed to the development of the soft drinks market. As the country's economy continues to grow, consumers have more purchasing power, which translates into increased demand for soft drinks. Furthermore, the government's efforts to improve infrastructure and promote investment have attracted foreign companies to enter the market, leading to a wider variety of soft drink options for consumers. In conclusion, the Soft Drinks market in Benin is experiencing growth due to changing customer preferences towards healthier options, such as natural and low-sugar beverages. This trend is in line with the global market, where consumers are becoming more health-conscious. The young and growing population, along with the economic growth and stability in the country, are contributing to the development of the market. Soft drink companies are responding to these trends by introducing new products and marketing campaigns that promote the health benefits of their offerings.

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.

This report presents a comprehensive analysis and additional information on the Consumer market, in a PDF format.