Analyzing the historical data on beer demand in Africa from 2014 to 2023, the market saw moderate fluctuations. Notable changes include a significant drop in 2020 owing to external factors such as the global pandemic, followed by a strong recovery in 2021. The demand stood at 13.11 million metric tons in 2023, reflecting a minor 0.14% year-on-year increase.
The Compound Annual Growth Rate (CAGR) over the last five years stands at 0.21%, indicating a modest upward trend. Over the next five years, the forecasted CAGR is slightly lower at 0.12%, predicting continued but slow growth with a total expected increase of 0.58% up to 2028.
Future trends to watch for include advancements in the African beer market, such as innovative brewing techniques, increased local production capacities, and evolving consumer preferences towards premium and craft beers. External factors like economic stability and regulatory changes will also play crucial roles in shaping the market landscape.
