Soft Drinks - Gabon

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

Customer preferences: Gabonese consumers have shown a growing preference for soft drinks, with a particular focus on healthier options. This shift in consumer behavior can be attributed to increasing health consciousness and a desire for products that offer nutritional benefits. As a result, there has been a rise in the demand for low-sugar and natural ingredient-based soft drinks.

Trends in the market: One of the key trends in the Soft Drinks market in Gabon is the increasing popularity of carbonated beverages. Carbonated soft drinks have become a staple in the Gabonese diet, with consumers enjoying the refreshing and fizzy taste. Additionally, flavored carbonated drinks have gained traction among younger consumers, who are attracted to the wide variety of flavors available. Another trend in the market is the growing demand for bottled water. As consumers become more health-conscious, they are opting for bottled water as a healthier alternative to sugary soft drinks. This trend is further fueled by the convenience and accessibility of bottled water, making it a popular choice among Gabonese consumers.

Local special circumstances: Gabon has a hot and humid climate, which makes soft drinks a popular choice for quenching thirst and staying refreshed. The availability of soft drinks in various packaging formats, such as cans and bottles, makes them convenient for consumption on the go. Additionally, the presence of a young and urban population in Gabon contributes to the demand for soft drinks as a trendy and fashionable beverage choice.

Underlying macroeconomic factors: The growing Soft Drinks market in Gabon can also be attributed to favorable macroeconomic factors. Gabon has experienced steady economic growth in recent years, leading to an increase in disposable income among consumers. This rise in purchasing power has allowed consumers to spend more on discretionary items, including soft drinks. Furthermore, the expanding middle class in Gabon has contributed to the growth of the Soft Drinks market. As more individuals move into the middle class, they have greater access to a wider range of products and are more willing to spend on non-essential items like soft drinks. In conclusion, the Soft Drinks market in Gabon is experiencing growth due to changing consumer preferences, including a shift towards healthier options. The popularity of carbonated beverages and bottled water, as well as the country's hot climate and favorable macroeconomic factors, are driving the market's development.

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.