The distilled alcoholic beverages market in Angola stood at 23.0 Thousand Metric Tons in 2023. Over the past decade, the market has experienced a significant decline, with a notable drop from 37.0 Thousand Metric Tons in 2014 to the current levels in 2023. Key year-on-year variations include a sharp decline in 2015 by -21.62% and another significant drop in 2016 by -17.24%. Despite some recovery periods, such as a 15.66% increase in 2021, the overall trend from 2014 to 2023 reveals a negative compound annual growth rate (CAGR) of -3.16%.
Looking at forecasted data, the market is expected to continue its declining trend. The volume is projected to decrease from 22.04 Thousand Metric Tons in 2024 to 19.15 Thousand Metric Tons in 2028, indicating a forecasted 5-year CAGR of -2.77%. Overall, the market is expected to shrink by -13.11% in volume terms over the forecasted period.
Future trends to watch for include economic developments that could impact consumer purchasing power, shifts in consumer preferences towards other types of alcoholic beverages, and regulatory changes affecting the production and sale of distilled alcoholic beverages in Angola. Additionally, market players should be mindful of international trade dynamics and potential supply chain disruptions that could influence market conditions.
