The demand for distilled alcoholic beverages in Africa has seen fluctuations over the past decade. After a decline in 2015, the market recovered in 2017 and has had a generally upward trend since then. As of 2023, the market stood at 827.0 thousand metric tons, with a modest year-on-year growth of 0.49%. The compound annual growth rate (CAGR) over the last five years was 0.29%, indicating a stable yet slow growth trend.
Year-on-year variation highlights key trends:
- 2015 saw a notable drop of 5.28%
- 2016 experienced a minor reduction of 1.36%
- 2017 rebounded with a 12.69% increase
- Negative growth in 2018 and 2019 at -0.24% and -0.37% respectively
- Pandemic hit 2020 with a 4.53% decline
- Post-pandemic recovery in 2021 with a 5.78% increase
- Stable growth from 2022 to 2023 with slight increments of 0.37% and 0.49%
Looking ahead, the forecast indicates a steady but modest growth in demand with a five-year CAGR of 0.36%, projecting an overall growth rate of 1.8% by 2028. Future trends to watch for include potential market disruptions due to economic shifts, evolving consumer preferences, and regulatory changes in the region.
