Soft Drinks - Northern Africa

The Soft Drinks market in Northern Africa is experiencing significant growth and development due to various factors. Customer preferences, trends in the market, local special circumstances, and underlying macroeconomic factors all contribute to the positive trajectory of the market. Customer preferences in Northern Africa are shifting towards healthier beverage options, which is driving the growth of the Soft Drinks market. Consumers are becoming more health-conscious and are seeking out drinks that are low in sugar and artificial ingredients. This has led to an increased demand for natural and organic soft drinks, as well as those that are fortified with vitamins and minerals. Additionally, there is a growing preference for functional beverages that offer specific health benefits, such as energy drinks and sports drinks. Trends in the market are also shaping the development of the Soft Drinks industry in Northern Africa. One notable trend is the rise of ready-to-drink (RTD) beverages, which offer convenience and portability. RTD soft drinks are increasingly popular among busy urban consumers who are looking for on-the-go options. Another trend is the growing popularity of flavored and infused soft drinks, which provide unique and refreshing taste experiences. This trend is particularly evident in the carbonated soft drinks segment, where innovative flavors and combinations are driving consumer interest. Local special circumstances in Northern Africa also contribute to the growth of the Soft Drinks market. The region has a young and growing population, with a significant portion of the population under the age of 30. This demographic is more likely to consume soft drinks and is driving demand in the market. Additionally, urbanization and rising disposable incomes are increasing the purchasing power of consumers, leading to higher consumption of soft drinks. Underlying macroeconomic factors further support the development of the Soft Drinks market in Northern Africa. The region is experiencing economic growth and stability, which is boosting consumer confidence and spending. This positive economic environment is creating opportunities for soft drink manufacturers to expand their operations and reach new customers. Furthermore, the region's favorable geographical location and trade agreements with other countries facilitate the import and export of soft drinks, allowing for a diverse range of products to be available in the market. In conclusion, the Soft Drinks market in Northern Africa is thriving due to customer preferences for healthier options, trends in the market such as the popularity of RTD beverages and flavored drinks, local special circumstances including a young population and rising disposable incomes, and underlying macroeconomic factors such as economic growth and favorable trade agreements. These factors combined are driving the growth and development of the Soft Drinks market in Northern Africa.

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.