Alcoholic Drinks - Baltics

The Alcoholic Drinks market in Baltics has been experiencing significant growth in recent years, driven by changing consumer preferences and local special circumstances. Customer preferences in the Alcoholic Drinks market in Baltics have been shifting towards premium and craft products. Consumers are increasingly seeking high-quality, unique, and locally produced alcoholic beverages. This trend is driven by a growing interest in supporting local businesses and a desire for authentic experiences. As a result, there has been a rise in the number of microbreweries, distilleries, and wineries in the region, offering a wide range of artisanal products. Trends in the market also reflect a growing demand for healthier options. Consumers are becoming more conscious of their alcohol consumption and are seeking lower-alcohol and non-alcoholic alternatives. This trend is driven by a desire for a balanced lifestyle and a focus on personal well-being. As a result, there has been an increase in the availability of low-alcohol beers, wines, and spirits, as well as a rise in the popularity of mocktails and other alcohol-free beverages. Local special circumstances, such as the rich cultural heritage and traditions of the Baltics, have also influenced the development of the Alcoholic Drinks market. The region has a long history of brewing and distilling, with traditional recipes and techniques passed down through generations. This heritage has created a unique identity for the Baltic alcohol industry, with a focus on craftsmanship and quality. Additionally, the Baltics are known for their natural resources, such as pristine water sources and fertile soil, which contribute to the production of high-quality ingredients for alcoholic beverages. Underlying macroeconomic factors have also played a role in the growth of the Alcoholic Drinks market in Baltics. The region has experienced strong economic growth in recent years, leading to an increase in disposable incomes. This has allowed consumers to spend more on premium and craft alcoholic beverages. Additionally, tourism has been a driving force behind the market growth, with a growing number of international visitors seeking to explore the unique flavors and traditions of the Baltics. In conclusion, the Alcoholic Drinks market in Baltics is experiencing growth due to changing customer preferences towards premium and craft products, a demand for healthier options, local special circumstances such as rich cultural heritage and natural resources, and underlying macroeconomic factors such as strong economic growth and tourism. These factors have created a thriving market for alcoholic beverages in the region, with a focus on quality, authenticity, and innovation.

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.