Alcoholic Drinks - Gambia

The Alcoholic Drinks market in Gambia has been experiencing steady growth in recent years, driven by changing customer preferences, emerging trends in the market, and local special circumstances. Customer preferences in the Alcoholic Drinks market in Gambia have been shifting towards premium and craft beverages. Consumers are increasingly seeking out high-quality, unique products that offer a more refined drinking experience. This trend is in line with global market preferences, as customers worldwide are becoming more discerning and willing to pay a premium for premium alcoholic drinks. One of the key trends in the Alcoholic Drinks market in Gambia is the rise of locally produced beverages. With an abundance of natural resources, including fruits and grains, local producers are capitalizing on the demand for authentic and locally sourced products. This trend is not unique to Gambia, as consumers worldwide are showing a growing interest in supporting local businesses and reducing their carbon footprint. Another trend in the market is the increasing popularity of low-alcohol and non-alcoholic beverages. Health-conscious consumers are looking for alternatives to traditional alcoholic drinks that offer a lighter and more refreshing option. This trend is driven by a desire to lead a healthier lifestyle, as well as the increasing availability of innovative and flavorful non-alcoholic options. Local special circumstances in Gambia also play a role in the development of the Alcoholic Drinks market. The country's tourism industry is a significant driver of demand for alcoholic beverages, as tourists seek to experience the local culture and flavors. Additionally, Gambia's young and growing population contributes to the increasing demand for alcoholic drinks, as young adults are more likely to consume alcohol and experiment with different flavors and brands. Underlying macroeconomic factors, such as economic growth and increasing disposable income, also contribute to the development of the Alcoholic Drinks market in Gambia. As the economy grows, consumers have more purchasing power and are able to spend more on discretionary items, including alcoholic beverages. This trend is not unique to Gambia, as emerging markets worldwide are experiencing similar economic growth and rising disposable incomes. In conclusion, the Alcoholic Drinks market in Gambia is developing in response to changing customer preferences, emerging market trends, local special circumstances, and underlying macroeconomic factors. The shift towards premium and craft beverages, the rise of locally produced drinks, the popularity of low-alcohol and non-alcoholic options, the influence of the tourism industry, the young and growing population, and the overall economic growth and increasing disposable income are all contributing to the growth and development of the market in Gambia.

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.