Soft Drinks - Burkina Faso

The Soft Drinks market in Burkina Faso has been experiencing significant growth in recent years.

Customer preferences: Burkinabe consumers have shown a growing preference for soft drinks as their disposable income has increased. Soft drinks are seen as affordable and refreshing beverages that can be enjoyed on various occasions. Additionally, the convenience of ready-to-drink soft drinks has made them a popular choice among busy urban consumers who are looking for quick refreshment.

Trends in the market: One of the key trends in the Soft Drinks market in Burkina Faso is the increasing demand for healthier options. Consumers are becoming more health-conscious and are seeking soft drinks that are low in sugar and calories. This trend is in line with the global shift towards healthier lifestyles and the growing awareness of the negative health effects of excessive sugar consumption. Another trend in the market is the rising popularity of locally produced soft drinks. Burkinabe consumers are increasingly seeking out products that are made in their own country, as they perceive them to be of higher quality and more authentic. Local soft drink manufacturers have responded to this demand by offering a wide range of flavors that cater to the local taste preferences.

Local special circumstances: One of the unique aspects of the Soft Drinks market in Burkina Faso is the influence of traditional beverages. Burkina Faso has a rich cultural heritage, and traditional beverages play an important role in the local culinary traditions. These beverages, such as bissap (hibiscus tea) and tchapalo (sorghum-based drink), are often consumed alongside or in place of soft drinks. As a result, soft drink manufacturers have had to adapt their products to appeal to the local palate and compete with these traditional beverages.

Underlying macroeconomic factors: The growth of the Soft Drinks market in Burkina Faso can be attributed to several macroeconomic factors. Firstly, the country has experienced steady economic growth in recent years, which has led to an increase in disposable income. This has allowed consumers to spend more on non-essential items such as soft drinks. Additionally, the urbanization rate in Burkina Faso has been steadily increasing. As more people move to urban areas, the demand for convenience products like soft drinks has also grown. Urban consumers are often pressed for time and are more likely to opt for ready-to-drink beverages that can be consumed on the go. In conclusion, the Soft Drinks market in Burkina Faso is developing due to the growing disposable income of consumers, the increasing demand for healthier options, the popularity of locally produced beverages, the influence of traditional drinks, and the underlying macroeconomic factors such as economic growth and urbanization.

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.