Beer - Nordics

The Beer market in Nordics has been experiencing significant growth in recent years.

Customer preferences: One of the key factors driving the growth of the Beer market in Nordics is the changing customer preferences. Consumers in the region are increasingly looking for unique and craft beer options. They are willing to explore different flavors and styles of beer, and are often willing to pay a premium for high-quality and locally brewed beers. This shift in consumer preferences has led to an increase in the number of microbreweries and craft beer bars in the Nordics, offering a wide range of innovative and artisanal beer options.

Trends in the market: One of the major trends in the Beer market in Nordics is the growing popularity of low-alcohol and non-alcoholic beers. Health-conscious consumers are increasingly seeking alternatives to traditional alcoholic beverages, and low-alcohol and non-alcoholic beers provide a viable option. These beers offer the same taste and experience as their alcoholic counterparts, but with lower alcohol content or no alcohol at all. This trend is driven by a desire for a healthier lifestyle and a growing awareness of the negative effects of excessive alcohol consumption. Another trend in the Beer market in Nordics is the rise of online sales and home delivery services. With the increasing popularity of e-commerce, consumers are now able to purchase their favorite beers online and have them delivered to their doorstep. This convenience factor has contributed to the growth of the online beer market in the region. Additionally, the COVID-19 pandemic has further accelerated the adoption of online sales and home delivery services, as consumers have been encouraged to stay at home and reduce their visits to physical stores.

Local special circumstances: The Nordics have a strong beer-drinking culture, with beer being a popular beverage choice for social gatherings and celebrations. The region is known for its beer festivals and events, which attract both locals and tourists. This cultural affinity towards beer has created a favorable environment for the growth of the Beer market in Nordics.

Underlying macroeconomic factors: The Beer market in Nordics is also influenced by underlying macroeconomic factors. The region has a relatively high disposable income and a strong economy, which allows consumers to spend more on discretionary items such as beer. Additionally, the Nordics have a high level of urbanization, with a significant proportion of the population living in cities. Urbanization is often associated with higher beer consumption, as cities offer a wide range of entertainment venues and social settings where beer is consumed. In conclusion, the Beer market in Nordics is experiencing growth due to changing customer preferences, including a demand for craft and unique beers, as well as the popularity of low-alcohol and non-alcoholic options. Online sales and home delivery services have also contributed to the market growth. The strong beer-drinking culture and favorable macroeconomic factors in the region further support the development of the Beer market in Nordics.

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.