West Africa Alcoholic Beverages Market Report 2024-2032, Featuring Diageo, Heineken International, Anheuser-Busch, Castel Group, Kasapreko and Tambour Original [Yahoo! Finance]
Diageo plc (DEO)
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Source: Yahoo! Finance
The West Africa alcoholic beverages market size reached US$ 13.2 Billion in 2023 and is forecast to reach US$ 21.8 Billion by 2032, exhibiting a growth rate (CAGR) of 5.7% during 2023-2032. The rising consumption of alcoholic beverages among the masses, the rising popularity of socializing among individuals, and the introduction of mixed and flavored alcoholic beverages represent some of the key factors driving the market. The Rising Middle-Class Population is Augmenting the Market Growth Africa , the second-largest continent in the world, is emerging as one of the fastest-growing economies globally. The region's economy has been on an upward trajectory, with several West African countries exhibiting impressive annual GDP growth rates. This growth rate is much higher than that of many other developing countries worldwide. As a result, the middle-class population in the region is growing, with consumers having more disposable income levels. Thus, increasing purchasing power causes
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