Soft Drinks - Angola

The Soft Drinks market in Angola has experienced significant growth in recent years, driven by changing customer preferences, emerging trends, and local special circumstances. Customer preferences in the Soft Drinks market in Angola have shifted towards healthier options, with a growing demand for low-sugar and natural beverages. This trend is influenced by global concerns over obesity and the negative health effects of sugary drinks. Consumers in Angola are increasingly conscious of their health and are seeking out beverages that offer nutritional benefits. As a result, there has been a rise in the consumption of bottled water, fruit juices, and functional drinks in the country. Trends in the market also reflect the growing popularity of convenience and on-the-go consumption. Busy lifestyles and urbanization have led to an increased demand for ready-to-drink beverages that can be consumed easily while on the move. This has driven the growth of packaged soft drinks, such as carbonated drinks, energy drinks, and iced teas, which are readily available in supermarkets, convenience stores, and vending machines. Local special circumstances have also played a role in the development of the Soft Drinks market in Angola. The country has a young and rapidly growing population, with a significant portion of the population under the age of 30. This demographic trend has created a large consumer base for soft drinks, as younger consumers are more likely to consume these beverages. Additionally, Angola has a warm climate, which further contributes to the demand for refreshing and hydrating soft drinks. Underlying macroeconomic factors have also influenced the growth of the Soft Drinks market in Angola. The country has experienced steady economic growth in recent years, which has led to an increase in disposable income and consumer spending. As a result, consumers have more purchasing power to spend on non-essential items such as soft drinks. Furthermore, the expansion of modern retail channels, such as supermarkets and convenience stores, has made soft drinks more accessible to a wider population. In conclusion, the Soft Drinks market in Angola is developing in response to changing customer preferences, emerging trends, local special circumstances, and underlying macroeconomic factors. The demand for healthier and convenient beverages, driven by global concerns and busy lifestyles, has led to an increase in the consumption of bottled water, fruit juices, and functional drinks. The young population and warm climate in Angola have also contributed to the growth of the market. Additionally, steady economic growth and the expansion of modern retail channels have made soft drinks more accessible to consumers in the country.

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.