Alcoholic Drinks - Angola

The Alcoholic Drinks market in Angola has been experiencing significant growth in recent years.

Customer preferences: Angolan consumers have shown a growing preference for alcoholic beverages, particularly beer and spirits. This can be attributed to changing lifestyles, increasing disposable incomes, and a desire for socializing and entertainment. Beer is the most popular alcoholic drink in Angola, with a wide variety of local and international brands available in the market. Consumers are also increasingly interested in trying different types of spirits, including whisky, vodka, and rum.

Trends in the market: One of the key trends in the Alcoholic Drinks market in Angola is the growing demand for premium and craft beers. As consumers become more knowledgeable about different beer styles and flavors, they are willing to pay higher prices for unique and high-quality products. This trend is driven by a desire for more sophisticated and diverse drinking experiences. Another trend in the market is the increasing popularity of flavored alcoholic beverages, such as flavored vodkas and rums. These products appeal to younger consumers who are looking for innovative and refreshing options. The availability of a wide range of flavors, including tropical fruits and spices, caters to the diverse tastes of Angolan consumers.

Local special circumstances: Angola has a rich cultural heritage and a strong tradition of socializing and celebrating with alcoholic beverages. This cultural context contributes to the popularity of alcoholic drinks in the country. Additionally, the country's warm climate and vibrant nightlife scene create a conducive environment for the consumption of alcoholic beverages.

Underlying macroeconomic factors: The growth of the Alcoholic Drinks market in Angola can be attributed to several macroeconomic factors. The country has experienced significant economic growth in recent years, driven by its oil and diamond industries. This has led to an increase in disposable incomes and a rise in consumer spending. As a result, more Angolans are able to afford alcoholic beverages and are willing to spend more on premium and high-quality products. Furthermore, Angola has a young and growing population, which contributes to the expanding consumer base for alcoholic drinks. The country's urbanization and increasing urban middle class also play a role in driving the demand for alcoholic beverages, as urban consumers have more access to a variety of products and entertainment options. In conclusion, the Alcoholic Drinks market in Angola is experiencing growth due to changing consumer preferences, including a preference for premium and craft beers, flavored alcoholic beverages, and a desire for socializing and entertainment. The country's cultural context, strong economic growth, young population, and urbanization also contribute to the expansion 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.