Soft Drinks - Togo

The Soft Drinks market in Togo has been experiencing significant growth in recent years, driven by changing customer preferences and local special circumstances.

Customer preferences: Togolese consumers have shown a growing preference for soft drinks, particularly carbonated beverages and fruit juices. This can be attributed to the increasing urbanization and westernization of the country, as well as the influence of global brands. The convenience and affordability of soft drinks have also contributed to their popularity among consumers. Furthermore, Togolese consumers are becoming more health-conscious and are seeking healthier alternatives to traditional sugary drinks. As a result, there has been a shift towards low-sugar and natural fruit-based beverages in the market.

Trends in the market: One of the key trends in the Soft Drinks market in Togo is the growing demand for carbonated beverages. Carbonated drinks, such as cola and lemon-lime sodas, have become a popular choice among consumers, especially the younger generation. This trend can be attributed to the increasing disposable income and changing lifestyles of Togolese consumers. Additionally, the introduction of innovative flavors and packaging formats by soft drink manufacturers has further fueled the demand for carbonated beverages in the market. Another trend in the market is the rising popularity of fruit juices. Togolese consumers are increasingly opting for natural and healthier alternatives to traditional soft drinks. This has led to a surge in the demand for fruit juices made from locally sourced fruits, such as pineapple, mango, and orange. Manufacturers have responded to this trend by introducing a wide range of fruit juice options in the market, including blends and 100% fruit juices.

Local special circumstances: Togo has a young and growing population, which has contributed to the increasing demand for soft drinks in the country. The youth population is particularly attracted to carbonated beverages and energy drinks, which are seen as trendy and fashionable. Additionally, Togo has a tropical climate, which makes soft drinks a popular choice for quenching thirst and providing refreshment in hot weather.

Underlying macroeconomic factors: The Soft Drinks market in Togo has benefited from the country's stable economic growth and improving living standards. As the economy continues to develop, more Togolese consumers have discretionary income to spend on non-essential items such as soft drinks. Furthermore, the government has implemented policies to attract foreign investment and promote the growth of the food and beverage industry, which has positively impacted the Soft Drinks market. In conclusion, the Soft Drinks market in Togo is experiencing growth due to changing customer preferences, including a shift towards healthier options and a preference for carbonated beverages and fruit juices. The market is also influenced by local special circumstances, such as the young population and tropical climate. Additionally, macroeconomic factors, such as stable economic growth and government policies, have contributed to the development of the Soft Drinks market in Togo.

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.