Market Insights Consumer Alcoholic Drinks

Spirits - Sierra Leone

Sierra Leone

Revenue, at home (e.g., revenue generated in supermarkets and convenience stores) in the Spirits market amounts to US$4,627.0k in 2024.
Revenue, out-of-home (e.g., revenue generated in restaurants and bars) amounts to US$5,786.0 in 2024.
Revenue, combined amounts to US$4,633.0k in 2024.
The revenue, at home is expected to grow annually by 16.69% (CAGR 2024-2028).
In global comparison, most revenue, at home is generated in China (US$150,400m in 2024).
In relation to total population figures, the average revenue per capita, at home of US$0.52 are generated in 2024.
In the Spirits market, volume, at home is expected to amount to 450.5k L by 2024.
Volume, out-of-home is expected to amount to 365.2L in 2024.
Volume, combined is expected to amount to 450.8k L in 2024.
The Spirits market is expected to show a volume growth, at home of 3.1% in 2025.
The average volume per person, at home in the Spirits market is expected to amount to 0.05L in 2024.

Key regions: Australia, Singapore, India, Worldwide, United States

Definition:

The Spirits market includes alcoholic beverages that have been produced through the distillation of wine, fermented fruits, or grains. Due to the distillation process, the alcohol content of spirits is much higher than that of most wines and beers, typically ranging from 20% to 50% alcohol by volume (ABV).

Structure:

The Spirits market is divided into 8 markets:

The Whisky market encompasses spirits on a grain basis that have been aged in wooden casks for a duration of at least three years.
The Vodka market encompasses spirits based on grain and/or potatoes.
The Rum market encompasses spirits based on sugar cane.
The Gin market encompasses spirits based on juniper berries.
The Brandy market encompasses spirits based on fermented fruit juice.
The Tequila market encompasses spirits made primarily from the blue agave plant (Agave tequilana) in Mexico.
The Soju market encompasses the Korean distilled beverage, Soju, which is traditionally made from rice, barley, or sweet potatoes.
The Liqueurs & Other Spirits market encompasses all other spirits not previously mentioned as well as Ready-to-Drink (RTD) cocktails.

Additional information:

The market comprises revenue and average revenue per capita, volume and average volume per capita, price per liter, as well as sales channels. Per capita figures refer to a country’s or region’s whole population.

At-home market data covers retail sales via super- and hypermarkets, eCommerce, convenience stores, and similar sales channels. Out-of-home market data includes all sales in hotels and restaurants, sales by catering companies, as well as sales in cafés, bars, and similar hospitality service establishments. Combined numbers encompass both the at-home market and the out-of-home market. All prices are valued at retail selling prices, including all sales and consumption taxes.

Key players include Diageo (e.g., Johnnie Walker, Smirnoff, and Tanqueray), Pernod Ricard, and Kweichow Moutai.

Market

Region

Region comparison

Currency

Analyst Opinion

The Spirits market in Sierra Leone has been experiencing significant growth in recent years.

Customer preferences: Sierra Leoneans have shown a growing interest in spirits, particularly in the urban areas. This can be attributed to the increasing disposable income and changing lifestyles of the population. Spirits are often seen as a status symbol and a way to celebrate special occasions. Additionally, the influence of Western culture has also played a role in shaping customer preferences, with a preference for international brands and premium spirits.

Trends in the market: One of the key trends in the spirits market in Sierra Leone is the growing demand for premium and imported spirits. This can be attributed to the rising middle class and their willingness to spend on higher quality products. The demand for premium spirits is also driven by the desire for unique and sophisticated drinking experiences. As a result, there has been an increase in the availability of imported spirits in the market, catering to the growing demand. Another trend in the market is the rise of flavored spirits. Consumers are increasingly looking for innovative and unique flavors in their spirits, and this trend has been observed in Sierra Leone as well. Flavored spirits offer a variety of options for consumers and provide a refreshing twist to traditional spirits. This trend is driven by the desire for new and exciting drinking experiences.

Local special circumstances: Sierra Leone has a rich cultural heritage, and this is reflected in the spirits market. Traditional spirits, such as palm wine and locally brewed spirits, continue to be popular among certain segments of the population. These spirits are often associated with cultural celebrations and rituals, and hold a special place in the hearts of Sierra Leoneans. Despite the growing demand for imported spirits, traditional spirits still have a strong presence in the market.

Underlying macroeconomic factors: The growth of the spirits market in Sierra Leone can be attributed to several underlying macroeconomic factors. The country has experienced steady economic growth in recent years, which has led to an increase in disposable income. This has allowed consumers to spend more on luxury goods, including spirits. Additionally, Sierra Leone has a young and growing population, which has contributed to the expansion of the consumer base for spirits. The increasing urbanization and changing lifestyles of the population have also played a role in driving the growth of the spirits market. In conclusion, the spirits market in Sierra Leone is experiencing significant growth, driven by changing customer preferences, the rise of premium and imported spirits, the demand for flavored spirits, the presence of traditional spirits, and underlying macroeconomic factors. The market is expected to continue to grow in the coming years, as Sierra Leoneans continue to embrace spirits as a way to celebrate and indulge in special occasions.

Methodology

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.