Beer - Guatemala

The Beer market in Guatemala has been experiencing significant growth in recent years. Customer preferences for beer have shifted towards craft and premium options, leading to an increase in the demand for these products. Additionally, local special circumstances, such as the popularity of traditional Guatemalan cuisine and cultural events, have contributed to the growth of the beer market. Furthermore, underlying macroeconomic factors, such as a growing middle class and increased disposable income, have also played a role in the development of the market. Customer preferences in the beer market in Guatemala have been shifting towards craft and premium options. Consumers are increasingly seeking unique and high-quality beers, which has led to the rise of craft breweries in the country. Craft beer offers a wide variety of flavors and styles that cater to different tastes and preferences. Moreover, premium beers are often associated with higher quality and are seen as a status symbol among consumers. As a result, both craft and premium beers have gained popularity in Guatemala. Trends in the beer market in Guatemala include the rise of microbreweries and the introduction of new flavors and styles. Microbreweries have become increasingly popular as they offer consumers the opportunity to try locally brewed beers with unique flavors. This trend is driven by the desire for authenticity and the support of local businesses. Additionally, beer companies have been introducing new flavors and styles to cater to changing consumer preferences. This includes fruit-infused beers, IPAs, and stouts, among others. Local special circumstances have also contributed to the growth of the beer market in Guatemala. The country is known for its rich culinary traditions, and beer is often enjoyed alongside traditional Guatemalan dishes. This cultural preference for beer as a beverage of choice during meals has created a consistent demand for beer in the country. Furthermore, Guatemala hosts various cultural events and celebrations throughout the year, which provide opportunities for beer companies to promote their products and increase sales. Underlying macroeconomic factors have played a significant role in the development of the beer market in Guatemala. The country has experienced a growing middle class and increased disposable income, which has led to higher consumer spending on discretionary items such as beer. As more people have the means to afford premium and craft beers, the market has expanded to meet this demand. Additionally, the tourism industry in Guatemala has been growing, attracting both domestic and international visitors who contribute to the beer market. In conclusion, the Beer market in Guatemala has been growing due to shifting customer preferences towards craft and premium options, the rise of microbreweries, the introduction of new flavors and styles, local cultural preferences, and underlying macroeconomic factors such as a growing middle class and increased disposable income. This trend is expected to continue as consumers continue to seek unique and high-quality beer options.

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.