Alcoholic Drinks - Americas

The Alcoholic Drinks market in Americas has been experiencing significant growth in recent years. Customer preferences, trends in the market, local special circumstances, and underlying macroeconomic factors all contribute to this development. Customer preferences in the Alcoholic Drinks market in Americas have been evolving. Consumers are increasingly seeking premium and craft products, as they value quality and uniqueness. This trend is particularly evident in countries like the United States and Canada, where craft beer and small-batch spirits have gained popularity. Additionally, there is a growing demand for healthier and low-alcohol options, as consumers become more health-conscious. This has led to the rise of products such as light beers and low-alcohol wines. Trends in the market also play a significant role in the development of the Alcoholic Drinks market in Americas. One notable trend is the increasing popularity of online sales and direct-to-consumer models. E-commerce platforms and online marketplaces have made it easier for consumers to access a wide range of alcoholic beverages, including niche and specialty products. This trend has been further accelerated by the COVID-19 pandemic, as consumers turned to online shopping during lockdowns and social distancing measures. Another trend in the market is the growing interest in sustainability and environmental responsibility. Consumers are becoming more conscious of the environmental impact of their choices, and this includes their beverage consumption. As a result, there is a demand for eco-friendly packaging, organic and locally sourced ingredients, and sustainable production practices. Companies that can align with these values and communicate their commitment to sustainability are likely to attract a loyal customer base. Local special circumstances also influence the development of the Alcoholic Drinks market in Americas. Each country in the region has its own unique drinking culture and regulations. For example, in Mexico, tequila and mezcal are deeply rooted in the country's heritage and are protected by Designation of Origin regulations. In Brazil, cachaça is a popular distilled spirit made from sugarcane, and it has a strong cultural significance. These local special circumstances create opportunities for companies to cater to specific tastes and preferences in each market. Underlying macroeconomic factors also play a role in the development of the Alcoholic Drinks market in Americas. Economic growth, disposable income levels, and consumer confidence all influence consumer spending on alcoholic beverages. In countries with a stable economy and rising incomes, consumers are more likely to spend on premium and higher-priced products. On the other hand, in countries facing economic challenges, consumers may opt for more affordable options. In conclusion, the Alcoholic Drinks market in Americas is developing due to changing customer preferences, market trends, local special circumstances, and underlying macroeconomic factors. As consumers seek premium and unique products, companies need to adapt to these preferences and offer a diverse range of options. Additionally, the increasing popularity of online sales and sustainability is shaping the market landscape. Understanding the local drinking culture and regulations is also crucial for success in each country. Finally, macroeconomic factors such as economic growth and disposable income levels influence consumer spending in the market.

Data coverage:
The data encompasses B2C enterprises. The at-home market covers retail sales via super- and hypermarkets, eCommerce, convenience stores, or similar sales channels. The out-of-home data encompasses all sales to hotels, restaurants, catering, cafés, bars, and similar hospitality service establishments. Combined numbers encompass both the at-home market and the out-of-home market. Both the at-home and the out-of-home market are valued at retail selling prices including all sales and consumption taxes.

Modeling approach:
Market sizes are determined through a Top-Down approach, building on specific predefined factors for each market segment. As a basis for evaluating markets, we use resources from the Statista platform as well as in-house market research, national statistical offices, international institutions, trade associations, companies, the trade press, and the experience of our analysts. In addition, we use relevant key market indicators and data from country-specific associations, such as GDP, consumer spending (e.g. consumer spending on alcoholic beverages, consumer spending at Hotels, Restaurants etc.), and price level index. This data helps us estimate the market size for each country individually.

Forecasts:
In our forecasts, we apply diverse forecasting techniques. The selection of forecasting techniques is based on the behavior of the relevant market. For example, the exponential trend smoothing is well suited for forecasting the Alcoholic Drinks market with a projected steady growth. The main drivers are GDP per capita and consumer spending per capita.

Additional notes:
The data is modeled using current exchange rates. The impact of the COVID-19 pandemic and the Russia-Ukraine war are considered at a country-specific level.