Soft Drinks - Equatorial Guinea

The Soft Drinks market in Equatorial Guinea has seen significant development in recent years, driven by changing customer preferences, trends in the market, local special circumstances, and underlying macroeconomic factors. Customer preferences in Equatorial Guinea have shifted towards healthier beverage options, including low-sugar and natural drinks. This trend is in line with global consumer demand for healthier alternatives to traditional soft drinks. As a result, companies in the market have responded by introducing new product lines that cater to these preferences, such as low-calorie and natural fruit-flavored drinks. This shift in customer preferences has contributed to the growth of the Soft Drinks market in Equatorial Guinea. Trends in the market have also played a role in the development of the Soft Drinks market in Equatorial Guinea. One notable trend is the increasing popularity of ready-to-drink beverages, which offer convenience and portability. This trend is driven by changing lifestyles and the growing demand for on-the-go options. As a result, companies in the market have focused on developing and promoting ready-to-drink formats, such as bottled and canned beverages. This trend has contributed to the expansion of the Soft Drinks market in Equatorial Guinea. Local special circumstances have also influenced the development of the Soft Drinks market in Equatorial Guinea. One such circumstance is the country's hot and humid climate, which creates a high demand for refreshing and hydrating beverages. Soft drinks, with their wide range of flavors and options, are well-suited to meet this demand. Additionally, the young population in Equatorial Guinea, with their preference for trendy and innovative products, has also contributed to the growth of the Soft Drinks market. Companies in the market have capitalized on these circumstances by introducing new flavors and packaging options to attract and retain customers. Underlying macroeconomic factors have also played a role in the development of the Soft Drinks market in Equatorial Guinea. The country's stable economic growth and rising disposable incomes have increased consumer purchasing power, allowing for greater spending on non-essential items such as soft drinks. Additionally, the growing urbanization and expansion of modern retail channels have made soft drinks more accessible to a larger population. These macroeconomic factors have created a favorable environment for the growth of the Soft Drinks market in Equatorial Guinea. In conclusion, the Soft Drinks market in Equatorial Guinea has experienced significant development due to changing customer preferences, trends in the market, local special circumstances, and underlying macroeconomic factors. The shift towards healthier beverage options, the increasing popularity of ready-to-drink formats, the country's hot climate and young population, as well as the stable economic growth and rising disposable incomes have all contributed to the growth of the Soft Drinks market in Equatorial Guinea.

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.