Soft Drinks - Gambia

The Soft Drinks market in Gambia has been experiencing significant growth in recent years, driven by changing customer preferences, emerging trends, and local special circumstances. Customer preferences in the Soft Drinks market in Gambia have shifted towards healthier and more natural options. Consumers are increasingly seeking beverages that are low in sugar, free from artificial additives, and made with natural ingredients. This trend is in line with the global shift towards healthier lifestyles and the growing awareness of the negative health effects of sugary drinks. As a result, there has been a rise in the demand for natural fruit juices, flavored water, and herbal teas in Gambia. Trends in the market also reflect the global demand for convenience and on-the-go consumption. As the pace of life becomes faster, consumers are looking for beverages that are easy to consume and can be enjoyed anytime, anywhere. This has led to an increase in the popularity of ready-to-drink beverages, such as canned and bottled soft drinks, which offer convenience and portability. Additionally, the market has seen a rise in the demand for energy drinks and functional beverages that provide a quick boost of energy and offer health benefits. Local special circumstances in Gambia have also contributed to the development of the Soft Drinks market. The country's warm climate and high humidity levels make soft drinks a popular choice among consumers, especially during the hot summer months. The availability of a wide range of tropical fruits in Gambia has also influenced the market, with local fruit juices and smoothies gaining popularity among consumers who prefer natural and refreshing beverages. Underlying macroeconomic factors have played a role in the growth of the Soft Drinks market in Gambia. The country's growing population, urbanization, and increasing disposable income have created a larger consumer base with higher purchasing power. This has led to an increase in the demand for soft drinks and other beverages. Additionally, the government's efforts to promote the tourism industry in Gambia have attracted more tourists to the country, further boosting the demand for soft drinks in hotels, restaurants, and tourist destinations. In conclusion, the Soft Drinks market in Gambia is developing in response to changing customer preferences, emerging trends, local special circumstances, and underlying macroeconomic factors. Consumers in Gambia are increasingly seeking healthier and more natural options, as well as convenient and on-the-go beverages. The country's warm climate, availability of tropical fruits, growing population, urbanization, and increasing disposable income have also contributed to the growth 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 Non-Alcoholic Drinks, 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 Non-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. The market is updated twice a year.