According to the latest report by IMARC Group, titled “West Africa Alcoholic Beverages Market: Industry Trends, Share, Size, Growth, Opportunity and Forecast 2021-2026”, the West Africa alcoholic beverages market reached a value of US$ 11.53 Billion in 2020. Looking forward, IMARC Group expects the market to grow at a CAGR of 5.4% during 2021-2026.
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.
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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.
Competitive Landscape With Key Players:
The competitive landscape of the west africa alcoholic beverages market has been studied in the report with the detailed profiles of the key players operating in the market.
Some of these key players include:
- Diageo Plc
- Heineken
- AB InBev
- Castel Group
- Kasapreko
- Tambour Original
Key Market Segmentation:
The report has segmented the west africa alcoholic beverages market on the basis of product type, packaging type, distribution channel and country.
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
Explore Full Report with TOC & List of Figure: https://www.imarcgroup.com/west-africa-alcoholic-beverages-market
Key highlights of the report:
- Market Performance (2015-2020)
- Market Outlook (2021-2026)
- Industry Trends
- Market Drivers and Success Factors
- The Impact of COVID-19 on the Global Market
- Value Chain Analysis
- Structure of the Global Market
- 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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IMARC Group is a leading market research company that offers management strategy and market research worldwide. We partner with clients in all sectors and regions to identify their highest-value opportunities, address their most critical challenges, and transform their businesses.
IMARC’s information products include major market, scientific, economic and technological developments for business leaders in pharmaceutical, industrial, and high technology organizations. Market forecasts and industry analysis for biotechnology, advanced materials, pharmaceuticals, food and beverage, travel and tourism, nanotechnology and novel processing methods are at the top of the company’s expertise.
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