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Key regions: Worldwide, United States, Russia, United Kingdom, India
The Alcoholic Drinks market in ASEAN has been experiencing steady growth in recent years, driven by changing customer preferences, emerging trends, and local special circumstances.
Customer preferences: Customers in ASEAN countries have shown a growing preference for premium and craft alcoholic drinks. This shift in preferences can be attributed to the increasing disposable income and changing lifestyles of consumers in the region. As consumers become more discerning, they are willing to pay a premium for high-quality and unique alcoholic beverages. This has led to a rise in demand for craft beers, artisanal spirits, and premium wines in ASEAN countries.
Trends in the market: One of the key trends in the Alcoholic Drinks market in ASEAN is the growing popularity of locally-produced alcoholic beverages. Consumers are increasingly interested in supporting local businesses and exploring unique flavors and ingredients that are native to their countries. This has led to a surge in the production and consumption of local craft beers, spirits, and traditional alcoholic beverages. Another trend in the market is the rising demand for healthier and low-alcohol alternatives. With a growing focus on health and wellness, consumers are seeking alcoholic drinks that are lower in calories and have fewer negative health effects. This has led to an increase in the availability of low-alcohol beers, wines, and spirits in the market.
Local special circumstances: Each ASEAN country has its own unique cultural and regulatory environment, which influences the development of the Alcoholic Drinks market. For example, in countries like Thailand and Indonesia, there are strict regulations on the sale and consumption of alcoholic beverages. This has created a challenging business environment for international companies looking to enter these markets. On the other hand, countries like Vietnam and Cambodia have relatively relaxed regulations, making it easier for businesses to operate and expand in these markets.
Underlying macroeconomic factors: The growth of the Alcoholic Drinks market in ASEAN is also influenced by underlying macroeconomic factors. The region has been experiencing strong economic growth, which has led to an increase in disposable income and consumer spending. This has created a larger consumer base with more purchasing power, driving the demand for alcoholic beverages. Additionally, the increasing urbanization and westernization of ASEAN countries have contributed to the growth of the market, as consumers are exposed to a wider range of alcoholic drinks and drinking cultures. In conclusion, the Alcoholic Drinks market in ASEAN is developing in response to changing customer preferences, emerging trends, and local special circumstances. Customers are increasingly seeking premium and locally-produced alcoholic beverages, while also showing a growing interest in healthier and low-alcohol alternatives. The market is also influenced by the unique cultural and regulatory environments of each ASEAN country, as well as the underlying macroeconomic factors of strong economic growth and urbanization.
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.
Mon - Fri, 9am - 6pm (EST)
Mon - Fri, 9am - 5pm (SGT)
Mon - Fri, 10:00am - 6:00pm (JST)
Mon - Fri, 9:30am - 5pm (GMT)
Mon - Fri, 9am - 6pm (EST)