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Soft Drinks - Western Africa

Western Africa
  • Revenue, at home (e.g., revenue generated in supermarkets and convenience stores) in the Soft Drinks market amounts to US$46.42bn in 2024.
  • Revenue, out-of-home (e.g., revenue generated in restaurants and bars) amounts to US$912.40m in 2024.
  • Revenue, combined amounts to US$47.34bn in 2024.
  • The revenue, at home is expected to grow annually by 14.15% (CAGR 2024-2029).
  • In global comparison, most revenue, at home is generated United States (US$114bn in 2024).
  • In relation to total population figures, the average revenue per capita, at home of US$112.30 are generated in 2024.
  • In the Soft Drinks market, volume, at home is expected to amount to 16.38bn L by 2024.
  • Volume, out-of-home is expected to amount to 166.30m L in 2024.
  • Volume, combined is expected to amount to 16.55bn L in 2024.
  • The Soft Drinks market is expected to show a volume growth, at home of 3.1% in 2025.0.
  • The average volume per person, at home in the Soft Drinks market is expected to amount to 39.62L in 2024.

Definition:

The market Soft Drinks covers varieties of prepared water-based beverages to which flavoring additives (sugar or sweeteners, aromas etc.) have been added. These include cola drinks and lemonades, but also energy drinks, fruit nectars and soft drinks with fruit juice content, as well as value-added or flavored water. Coffee and tea-based drinks are not included.

Structure:

The Soft Drinks market is structured into 3 markets:

  • Carbonated Soft Drinks denote all artificially sweetened and carbonated Non-Alcoholic Drinks.
  • Non-Carbonated Soft Drinks contain non-alcoholic liquid refreshment beverages that are not artificially carbonated.
  • Energy & Sports Drinks include energy drinks and sports drinks, providing functional benefits such as mental and physical stimulation.

Additional information:

The market comprises revenue and average revenue per capita, volume and average volume per capita, price per liter, as well as sales channels. Per capita figures refer to a country’s or region’s whole population.

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.

Key players include The Coca-Cola Company, PepsiCo, Suntory, Red Bull, and Keurig Dr Pepper.

In-Scope

  • Carbonated Soft Drinks (Cola, Lemonade etc.)
  • Non-Carbonated Soft Drinks (nectars, value-added or flavoured water etc.)
  • Energy & Sports Drinks

Out-Of-Scope

  • Hot Drinks
  • Powdered drink mixes and syrups (e.g. Post-Mix Drinks)
Soft Drinks: market data & analysis - Cover

Market Insights report

Soft Drinks: market data & analysis

Study Details

    Revenue

    Notes: Data was converted from local currencies using average exchange rates of the respective year.

    Most recent update: Sep 2024

    Source: Statista Market Insights

    Most recent update: Sep 2024

    Source: Statista Market Insights

    Volume

    Most recent update: Sep 2024

    Source: Statista Market Insights

    Most recent update: Sep 2024

    Source: Statista Market Insights

    Price

    Most recent update: Sep 2024

    Source: Statista Market Insights

    Key Players

    Most recent update: Apr 2024

    Source: Statista Market Insights

    Sales Channels

    Most recent update: May 2024

    Source: Statista Market Insights

    Global Comparison

    Most recent update: Sep 2024

    Source: Statista Market Insights

    Analyst Opinion

    The Soft Drinks market in Western Africa is experiencing significant growth and development. Customer preferences in the region are shifting towards healthier beverage options, leading to an increased demand for natural and low-sugar soft drinks. The market is also being influenced by local special circumstances, such as the rise of urbanization and a growing middle class. Additionally, underlying macroeconomic factors, such as population growth and increasing disposable incomes, are driving the expansion of the Soft Drinks market in Western Africa. Customer preferences in Western Africa are evolving, with a growing focus on health and wellness. Consumers are becoming more conscious of the impact of sugary drinks on their overall health and are seeking alternatives that are lower in sugar and artificial additives. This has led to a rise in demand for natural and low-sugar soft drinks, such as fruit juices, flavored water, and herbal teas. Manufacturers are responding to this trend by introducing new product offerings that cater to these preferences, resulting in a diversification of the Soft Drinks market in Western Africa. Trends in the market also reflect the local special circumstances in Western Africa. The region is experiencing rapid urbanization, with more people moving to cities in search of better job opportunities and improved living standards. This urbanization trend has led to a higher concentration of consumers in urban areas, creating a larger market for soft drinks. Additionally, the growing middle class in Western Africa has increased purchasing power, allowing more consumers to afford soft drinks as part of their regular consumption. As a result, the Soft Drinks market in Western Africa is expanding to meet the demands of this growing consumer base. Underlying macroeconomic factors are also contributing to the development of the Soft Drinks market in Western Africa. The region has a young and rapidly growing population, which creates a large consumer base for soft drinks. Additionally, increasing disposable incomes are enabling more consumers to afford soft drinks as a regular part of their diet. The rising middle class in Western Africa is particularly driving this trend, as they have more purchasing power and are willing to spend on non-essential items such as soft drinks. These macroeconomic factors are fueling the growth of the Soft Drinks market in Western Africa and attracting investment from both local and international players. In conclusion, the Soft Drinks market in Western Africa is experiencing growth and development due to shifting customer preferences towards healthier beverage options, local special circumstances such as urbanization and a growing middle class, and underlying macroeconomic factors including population growth and increasing disposable incomes. As a result, the market is seeing a diversification of product offerings and an expansion of the consumer base, making Western Africa an attractive region for soft drink manufacturers and investors.

    Methodology

    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.

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    Soft Drinks: market data & analysis - BackgroundSoft Drinks: market data & analysis - Cover

    Key Market Indicators

    Notes: Based on data from IMF, World Bank, UN and Eurostat

    Most recent update: Sep 2024

    Source: Statista Market Insights

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