According to the latest report by IMARC Group, titled "West Africa Alcoholic Beverages Market: Industry Trends, Share, Size, Growth, Opportunity and Forecast 2022-2027," the West Africa alcoholic beverages market reached a value of US$ 11.7 Billion in 2021. Alcoholic beverages are drinks that are made by fermenting sugars found in fruits, berries and grains. They utilize yeast for initiating anaerobic fermentation that is essential in converting the sugar into ethanol and carbon dioxide. The flavors and aromas of the beverages vary depending upon the fermentable material used in the process. The alcohol content of the drinks also differs according to their storage period and the container they are placed in. Widely consumed as rejuvenating and recreational drinks, they are available in the market in the form of beers, ciders, wines and spirits.
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We are
regularly tracking the direct effect of COVID-19 on the market, along with the
indirect influence of associated industries. These observations will be
integrated into the report.
West
Africa Alcoholic Beverages Market Trends:
The market is primarily driven by the increasing preference for branded alcoholic drinks in the West African region. The locals have largely relied on making their own alcohol over the years with the use of home-grown crops due to the low costs associated with it.
However, with the inflating disposable income levels of the masses and an overall strong economic growth in the region, there is a shift from home- or locally-brewed drinks toward branded alcoholic beverages, especially among the urban population.
Apart from this, numerous international players are heavily investing in the untapped market of West Africa, thereby creating numerous growth opportunities in the market, which is acting as a major growth-inducing factor.
In line with this, the easy availability of raw materials and cheap labor aids significantly in attracting foreign investors, which, in turn, is resulting in the increasing production of branded alcoholic beverages locally.
This consequently enables in minimizing the manufacturing costs while providing high-quality branded drinks at an affordable price to the consumers.
Some of the other factors contributing to the market growth include rapid urbanization, the rising preference for flavored alcohol and the growing number of female drinkers in the region.
On
account of the aforementioned factors, the market is anticipated to grow at a
CAGR of 6.31% during 2022-2027.
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Competitive
Landscape:
- Diageo Plc
- Heineken International B.V.
- Anheuser-Busch InBev
- Castel Group
- Kasapreko Company Ltd
- Tambour Original
Market Segmentation:
Breakup
by Product Type:
- Beer
- Spirits
- Wine
- Others
Breakup
by Packaging Type:
- Glass Bottles
- Tins
- Plastic Bottles
- Others
Breakup
by Distribution Channel:
- Open Markets
- Supermarkets/Hypermarkets
- Hotels/Restaurants/Bars
- Specialty Stores
- Others
Breakup
by Country:
- Nigeria
- Cote d’Ivoire
- Ghana
- Burkina Faso
- Republic of Benin
- Senegal
- Others
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Key
highlights of the
report:
- Market Performance
(2016-2021)
- Market Outlook (2022-2027)
- Market Trends
- Market Drivers and Success
Factors
- Impact of COVID-19
- Value Chain Analysis
- Comprehensive mapping of the
competitive landscape
If you
need specific information that is not currently within the scope of the report,
we will provide it to you as a part of the customization.
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and high technology organizations. Market forecasts and industry analysis for
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and tourism, nanotechnology and novel processing methods are at the top of the
company’s expertise.
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