The Tanzania spirits market reached a value of $ 606 Million in 2021, and it is projected to reach a value of $ 1.06 billion by 2027, exhibiting a CAGR of 10 per cent during 2022-2027 according to the latest Tanzania spirits market report by IMARC Group
Spirits are distilled alcoholic beverages produced from fermenting liquid that contains sugar, cereal grains and fruits, and other yeast. They are formulated by preparing, mashing, fermenting, purifying, aging, and blending sugar derived from raw materials. They are also sealed in barrels for a specific duration to achieve the desired taste, color, and alcohol content.
Some of the common varieties of spirits include whiskey, rum, vodka, gin, brandy, and others. These drinks help reduce the risk of diabetes, ischemic strokes, and heart disease and alleviate stress by providing a relaxing experience to the consumer. As a result, spirits are gaining traction among individuals across Tanzania.
Tanzania spirits market trends and drivers:
The market is primarily driven by rapid urbanization and the growing consumer inclination toward alcoholic beverages across Tanzania. In addition, the emerging trend of socializing and casual drinking, especially among working professionals and millennials, coupled with the growing wineries and breweries across the country, represents another major growth-inducing factor.
Moreover, the rising disposable incomes, improving consumer living standards, and the increasing demand for premium beverages for unique drinking experiences are providing a thrust to the market growth. Besides this, various key players are introducing flavored alcohols and mixed beverages to cater to diverse consumer tastes and preferences.
Furthermore, several brick-and-mortar alcohol shops are adopting online retail platforms to augment their sales and reach out to a larger customer base, which is also propelling the market growth. Other factors, including the wide availability of raw materials, cheap labor in Tanzania, and the growing incorporation of bio-degradable packaging solutions in the manufacturing process, are creating a positive market outlook across the country.