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Key regions: Singapore, Australia, China, Philippines, United Kingdom
The Beer market in Austria has been experiencing significant growth in recent years, driven by changing customer preferences, emerging trends, and local special circumstances.
Customer preferences: Austrian consumers have shown a growing preference for craft beers and specialty brews, as they seek unique and flavorful options. This shift in preferences can be attributed to the increasing influence of global beer trends and the desire for more diverse and innovative products. Additionally, there is a rising demand for low-alcohol and non-alcoholic beers, driven by health-conscious consumers who still want to enjoy the taste of beer without the high alcohol content.
Trends in the market: One of the key trends in the Austrian beer market is the rise of microbreweries. These small-scale breweries have gained popularity due to their ability to produce artisanal and high-quality beers that cater to specific tastes and preferences. The craft beer movement has gained traction in Austria, with consumers actively seeking out locally brewed beers that offer unique flavors and a sense of authenticity. This trend has also been supported by the growing popularity of beer festivals and events, which provide a platform for microbreweries to showcase their products. Another emerging trend in the Austrian beer market is the increasing focus on sustainability and organic production. Consumers are becoming more conscious of the environmental impact of their choices and are seeking out beers that are brewed using sustainable practices and organic ingredients. This trend aligns with the broader global movement towards sustainability and reflects the growing importance of ethical and environmentally-friendly consumption.
Local special circumstances: Austria has a rich beer culture and a long-standing tradition of brewing. This cultural heritage has contributed to the growth of the beer market, as consumers take pride in supporting local breweries and preserving their brewing traditions. Additionally, the country's tourism industry plays a significant role in driving beer consumption, with visitors often seeking out authentic Austrian beers as part of their cultural experience.
Underlying macroeconomic factors: The strong economy and high disposable income levels in Austria have also contributed to the growth of the beer market. As consumers have more purchasing power, they are willing to spend on premium and specialty beers, driving the demand for higher-priced and niche products. Furthermore, the steady growth of the tourism industry has provided a boost to the beer market, as tourists contribute to increased beer consumption both in bars and restaurants and through the purchase of local beers as souvenirs. In conclusion, the Beer market in Austria is experiencing growth due to changing customer preferences towards craft beers and specialty brews, emerging trends such as microbreweries and sustainability, the local special circumstances of Austria's beer culture and tourism industry, and the underlying macroeconomic factors of a strong economy and high disposable income levels. These factors have created a conducive environment for the development and expansion of the beer market in Austria.
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)