Soft Drinks - Guinea

The Soft Drinks market in Guinea has been experiencing significant growth in recent years. Customer preferences in Guinea are shifting towards healthier beverage options, driving the demand for non-alcoholic drinks such as soft drinks. Consumers are becoming increasingly conscious of their health and are opting for beverages 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. As a result, there is a growing demand for low-sugar and sugar-free soft drinks in Guinea. In addition to health concerns, convenience is also an important factor driving the growth of the soft drinks market in Guinea. With the increasing urbanization and busy lifestyles, consumers are looking for convenient and ready-to-drink options. Soft drinks, particularly carbonated beverages, are easily available and can be consumed on-the-go. The convenience factor has contributed to the popularity of soft drinks among consumers in Guinea. Another trend in the soft drinks market in Guinea is the growing popularity of locally produced beverages. Consumers are increasingly interested in supporting local businesses and buying products that are made in Guinea. This has led to an increase in the demand for locally produced soft drinks, which are often made with traditional ingredients and flavors. Local soft drink brands are capitalizing on this trend by offering unique and authentic products that cater to the preferences of Guinea consumers. Local special circumstances in Guinea also play a role in shaping the soft drinks market. Guinea is a country with a young population, and the youth are a key target market for soft drink companies. Young consumers are more likely to experiment with different flavors and are open to trying new products. Soft drink companies are capitalizing on this by introducing new and innovative flavors to cater to the preferences of the younger generation. Furthermore, the hot climate in Guinea makes soft drinks a popular choice among consumers as a refreshing beverage option. Soft drinks are often consumed to quench thirst and provide relief from the heat. The hot climate creates a favorable environment for the growth of the soft drinks market in Guinea. Underlying macroeconomic factors such as economic growth and increasing disposable income also contribute to the development of the soft drinks market in Guinea. As the economy grows, consumers have more purchasing power and are able to afford discretionary items such as soft drinks. The rising disposable income has led to an increase in the demand for soft drinks as consumers are able to spend more on non-essential items. In conclusion, the Soft Drinks market in Guinea is experiencing growth due to changing customer preferences towards healthier options, convenience, and the popularity of locally produced beverages. The young population, hot climate, and underlying macroeconomic factors also contribute to the development of the soft drinks market in 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.