West Africa Alcoholic Beverages Market: Industry Trends, Share, Size, Growth, Opportunity and Forecast 2018-2023
The impact of strong economic growth in Africa is evident in the growth of several industries. The alcohol market is one of the primary industries which has acquired newly-found prosperity in West Africa. A key trend observed in the region is a shift from locally brewed alcohol towards branded alcoholic drinks. According to IMARC’s latest report, titled “West Africa Alcoholic Beverages Market: Industry Trends, Share, Size, Growth, Opportunity and Forecast 2018-2023”, the West Africa alcoholic beverages market reached a value of US$ 9.8 Billion in 2017.
One of the major factors augmenting the demand for alcoholic beverages in West Africa include growing preferences for branded alcoholic drinks due to the escalating disposable incomes of consumers. In addition to this, thriving foreign investments owing to easy availability of raw materials and cheap labour has further catalysed the market growth. Some of the other factors that are proliferating the demand for alcoholic beverages in the region include population growth, rising urbanization, changing demographics, increasing number of women drinkers and flourishing demand for flavoured alcoholic beverages.
Despite the presence of a number of driving forces, the West Africa alcoholic beverages market faces some challenges as well. Owing to the poor infrastructure, the distribution of alcoholic beverages in West Africa is unregulated. Apart from this, inadequate number of storage and transportation services act as other barriers in the growth of the alcoholic beverages market in the region. Moreover, home-brewed alcohol hinders the penetration of branded alcoholic beverages.
Based on type, the market has been segmented as beer, wine, spirits and others. Currently, beer dominates the market, holding the largest share.
On the basis of packaging type, glass bottles represent the biggest segment, followed by tins, plastic bottles and others.
Based on distributional channel, open markets act as the largest segment on account of affordability and easy access. Open markets are followed by supermarkets/hypermarkets, hotels/ restaurants/bars, specialty stores and others.
Country-wise, the market has been segmented into Nigeria, Ghana, Burkina Faso, Cote d' Ivoire, Senegal and Republic of Benin. Amongst these, Nigeria is the leading market, accounting for the majority of the West African market share.
The competitive landscape of the market has also been examined with some of the key players being AB InBev, Diageo and Heineken.
This report provides a deep insight into the West Africa alcoholic beverages market covering all its essential aspects. This ranges from macro overview of the market to micro details of the industry performance, recent trends, key market drivers and challenges, SWOT analysis, Porter’s five forces analysis, value chain analysis, etc. This report is a must-read for entrepreneurs, investors, researchers, consultants, business strategists, and all those who have any kind of stake or are planning to foray into the alcoholic beverages market in any manner.
Key Questions Answered in This Report:
How has the West African alcoholic beverages market performed so far and how will it perform in the coming years?
What are the major countries in the West African alcoholic beverages market?
Which are the popular product types in the West African alcoholic beverages market?
What are the different packaging types in the West African alcoholic beverages market?
What are the major distributional channels in the West African alcoholic beverages market?
What are the price trends of alcoholic beverages?
What are the various stages in the value chain of the West African alcoholic beverages market?
What are the key driving factors and challenges in the West African alcoholic beverages market?
What is the structure of the West African alcoholic beverages market and who are the key players?
What is the degree of competition in the West African alcoholic beverages market?
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