The analysis of wine demand in Kenya from 2014 to 2023 indicates a generally stable pattern with some fluctuations. The demand fluctuated between 7.0 and 8.0 thousand metric tons, showing both increases and decreases, with notable dips in 2017 and 2020. The year 2023 stood at 8.0 thousand metric tons, the same as in previous years, indicating no year-on-year variation from 2022. The recent trend shows a minor positive growth.
Year-on-year variations highlighted significant changes in specific years, such as a 14.29% increase in both 2016 and 2018, and a 12.5% decrease in 2017. The compound annual growth rate (CAGR) over the last five years leading up to 2023 was negligible, suggesting relatively stable demand.
Looking ahead, the forecasted data from 2024 to 2028 suggests a slight upward trend, with the demand expected to increase gradually to 8.3 thousand metric tons by 2028. The 5-year CAGR is projected at 0.49%, indicating modest growth. Watch for potential impacts of economic conditions, changes in consumer preferences, and policy shifts that might influence future demand trends.
