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Key regions: Worldwide, United States, Russia, United Kingdom, India
The Alcoholic Drinks market in Uganda has been experiencing significant growth in recent years.
Customer preferences: Ugandans have traditionally enjoyed alcoholic beverages, with beer being the most popular choice. However, there has been a shift in consumer preferences towards spirits and wine. This can be attributed to a growing middle class and changing lifestyles. The younger generation, in particular, is more open to trying new and different types of alcoholic drinks. Additionally, there is a rising demand for premium and imported brands, indicating a shift towards more sophisticated tastes.
Trends in the market: One of the key trends in the Alcoholic Drinks market in Uganda is the increasing popularity of craft beer. This trend mirrors the global craft beer movement, where consumers are seeking unique and locally-produced beverages. Craft breweries have emerged in Uganda, offering a wide range of flavors and styles to cater to the growing demand. This trend is driven by consumers' desire for quality, authenticity, and supporting local businesses. Another trend in the market is the rise of wine consumption. Wine is becoming more popular among Ugandans, especially in urban areas. This can be attributed to the influence of Western cultures and the perception of wine as a sophisticated and elegant drink. Wine bars and restaurants specializing in wine have also emerged, catering to the growing demand. Additionally, wine is increasingly being seen as a healthier alternative to other alcoholic beverages, which is appealing to health-conscious consumers.
Local special circumstances: Uganda has a young and growing population, which presents a significant market opportunity for alcoholic drinks. The legal drinking age in Uganda is 18, and with a large youth population, there is a potential for increased consumption in the coming years. Additionally, Uganda has a vibrant nightlife culture, with bars and clubs being popular social venues. This creates a favorable environment for the consumption of alcoholic drinks.
Underlying macroeconomic factors: The economic growth in Uganda has had a positive impact on the Alcoholic Drinks market. With a growing middle class and increasing disposable income, consumers have more purchasing power to spend on leisure activities, including alcohol. Furthermore, urbanization and the development of the hospitality industry have contributed to the growth of the market. As more hotels, restaurants, and bars open, the demand for alcoholic drinks increases. In conclusion, the Alcoholic Drinks market in Uganda is experiencing growth due to changing customer preferences, including a shift towards spirits and wine, the emergence of craft beer, and the influence of Western cultures. The young and growing population, vibrant nightlife culture, and favorable macroeconomic factors also contribute to the market's development.
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.
Lu - vi, 9:30 - 17:00 h (CET)
Lu - vi, 9:00 - 18:00 h (EST)
Lu - vi, 9:00 - 17:00 h (SGT)
Lu - vi, 10:00 - 18:00 h (JST)
Lu - vi, 9:30 - 17:00 h (GMT)
Lu - vi, 9:00am-6:00pm (EST)