Beer - Gambia

The Beer market in Gambia has been experiencing steady growth in recent years, driven by changing customer preferences and local special circumstances. Customer preferences in the Beer market in Gambia have shifted towards a greater demand for craft beers and premium brands. Consumers are increasingly seeking unique and flavorful beer options, leading to a rise in the popularity of craft breweries and specialty beer bars. This trend can be attributed to a growing middle class with higher disposable incomes and a desire for more sophisticated and diverse beverage options. Additionally, the influence of Western culture and the popularity of international beer brands have also contributed to the increasing demand for premium beers in Gambia. Trends in the Beer market in Gambia include the rise of local craft breweries and the introduction of new beer flavors and styles. Local entrepreneurs have recognized the demand for craft beers and have started their own breweries, offering consumers a wider range of options. This trend has not only created opportunities for local businesses but has also fostered a sense of pride and support for locally produced goods. In addition, beer companies have been introducing new flavors and styles to cater to the evolving tastes of consumers. This innovation has helped to attract new customers and keep the market dynamic and competitive. Local special circumstances in Gambia have also contributed to the development of the Beer market. The country's warm climate and vibrant social culture make beer a popular choice for socializing and relaxation. Beer is often enjoyed during social gatherings, festivals, and sporting events, making it an integral part of the local culture. Furthermore, Gambia's tourism industry has been growing, attracting visitors from around the world who are interested in experiencing the country's unique culture and traditions. This influx of tourists has created a demand for a variety of beer options, including both local and international brands. Underlying macroeconomic factors, such as population growth and urbanization, have also played a role in the development of the Beer market in Gambia. The country's population has been steadily increasing, leading to a larger consumer base for beer. Additionally, urbanization has resulted in the concentration of people in cities, where there is a higher demand for beer and a greater availability of beer establishments. The combination of these factors has created a favorable environment for the growth of the Beer market in Gambia. In conclusion, the Beer market in Gambia has been developing due to changing customer preferences, the rise of craft breweries, the introduction of new beer flavors and styles, local special circumstances, and underlying macroeconomic factors. As consumer tastes continue to evolve and the market becomes more competitive, it is expected that the Beer market in Gambia will continue to grow and diversify in the coming years.

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 alcoholic beverages, 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 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.