Hard Seltzer - Gambia

The Hard Seltzer market in Gambia is experiencing significant growth and development.

Customer preferences: Customers in Gambia are increasingly drawn to the refreshing and low-calorie nature of Hard Seltzers. The market is driven by a rising health consciousness among consumers who are looking for lighter and healthier alternatives to traditional alcoholic beverages. Hard Seltzers appeal to a wide range of consumers, including those who are looking for gluten-free options or who prefer a beverage with natural flavors.

Trends in the market: One of the key trends in the Hard Seltzer market in Gambia is the introduction of locally produced options. Local breweries and beverage companies are capitalizing on the growing demand for Hard Seltzers by creating their own unique flavors that cater to the local palate. This trend not only supports the local economy but also provides consumers with a wider variety of choices. Another trend in the market is the increasing availability of Hard Seltzers in different retail channels. Initially, Hard Seltzers were primarily available in bars and restaurants. However, as the market continues to grow, they are now becoming more accessible through supermarkets, convenience stores, and online platforms. This increased availability is making it easier for consumers to purchase and enjoy Hard Seltzers at their convenience.

Local special circumstances: Gambia's warm climate and popular tourist destinations make it an ideal market for Hard Seltzers. The refreshing and light nature of these beverages makes them a popular choice for locals and tourists alike, especially during the hot summer months. Additionally, the growing tourism industry in Gambia has contributed to the increased demand for Hard Seltzers, as tourists from different countries bring their preferences and demand for these beverages.

Underlying macroeconomic factors: The economic growth and stability in Gambia have played a significant role in the development of the Hard Seltzer market. As disposable incomes rise and the middle class expands, consumers have more purchasing power to spend on premium and innovative beverages. This has created a favorable environment for the growth of the Hard Seltzer market, as consumers are willing to try new and trendy products. Furthermore, the increasing urbanization and Western influence in Gambia have also contributed to the rise in demand for Hard Seltzers. As the country becomes more connected to global trends and lifestyles, consumers are exposed to different beverage options, including Hard Seltzers. This exposure has created a demand for these beverages, as consumers seek to embrace international trends and adopt new drinking habits. In conclusion, the Hard Seltzer market in Gambia is experiencing growth and development due to customer preferences for healthier and lighter alcoholic beverages. The introduction of locally produced options and the increasing availability of Hard Seltzers in different retail channels are key trends in the market. Gambia's warm climate, popular tourist destinations, economic growth, and Western influence are local special circumstances that contribute to the development of the market.

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.