Soft Drinks - Senegal

The Soft Drinks market in Senegal has been experiencing significant growth in recent years. Customer preferences in Senegal have shifted towards healthier beverage options, leading to an increased demand for low-sugar and natural drinks. Consumers are becoming more health-conscious and are actively seeking out products that are free from artificial additives and preservatives. This trend is in line with global consumer preferences, as people are becoming more aware of the impact of sugary drinks on their health. As a result, there has been a surge in the consumption of bottled water, fruit juices, and herbal teas in Senegal. In addition to healthier options, convenience is also a key factor driving the growth of the Soft Drinks market in Senegal. Busy lifestyles and the increasing number of working professionals have led to a higher demand for on-the-go beverages. This has resulted in the rise of ready-to-drink products such as canned and bottled drinks, which are easily accessible and can be consumed anywhere. The convenience factor has also boosted the sales of carbonated soft drinks, as they are widely available in supermarkets, convenience stores, and vending machines. The Soft Drinks market in Senegal is also influenced by local special circumstances. The country has a hot and humid climate, which makes cold beverages more appealing to consumers. This has led to a higher consumption of chilled drinks, especially during the summer months. Additionally, Senegal has a vibrant street food culture, with many vendors selling beverages alongside their food offerings. This has created a strong market for local and traditional drinks, such as bissap (hibiscus tea) and ginger juice, which are often served in small plastic bags or cups. Underlying macroeconomic factors are also contributing to the growth of the Soft Drinks market in Senegal. The country has been experiencing steady economic growth, which has resulted in an increase in disposable income among the population. This has led to a higher purchasing power and a willingness to spend on non-essential items, including beverages. Furthermore, urbanization and the growing middle class have led to a shift in consumer preferences, with more people opting for branded and premium soft drinks. In conclusion, the Soft Drinks market in Senegal is developing in response to changing customer preferences, local special circumstances, and underlying macroeconomic factors. The demand for healthier and convenient beverages, coupled with the country's hot climate and street food culture, has contributed to the growth of the market. Additionally, the steady economic growth and increasing disposable income have created a favorable environment for the Soft Drinks industry in Senegal.

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.