Beer - Serbia

The Beer market in Serbia has been experiencing significant growth in recent years, driven by changing customer preferences, emerging trends in the market, local special circumstances, and underlying macroeconomic factors.

Customer preferences: Serbian consumers have shown a growing preference for beer over other alcoholic beverages. This can be attributed to the cultural significance of beer in Serbia, where it is often enjoyed during social gatherings and celebrations. Additionally, the younger demographic in Serbia has embraced beer as a trendy and fashionable drink, further fueling its popularity.

Trends in the market: One notable trend in the Serbian beer market is the increasing demand for craft beer. Craft breweries have gained traction in Serbia, offering consumers a wider variety of flavors and styles. This trend aligns with the global craft beer movement, where consumers are seeking unique and high-quality beer options. Craft beer appeals to Serbian consumers who are looking for a more personalized and artisanal drinking experience. Another trend in the Serbian beer market is the rise of low-alcohol and non-alcoholic beer. Health-conscious consumers are increasingly opting for these alternatives, as they offer a lower calorie and alcohol content. This trend reflects a broader shift towards healthier lifestyles and a desire for more balanced drinking options.

Local special circumstances: Serbia's beer market is influenced by its geographical location and historical ties to neighboring countries. The country shares borders with beer-loving nations such as Hungary, Croatia, and Bosnia and Herzegovina. This proximity has led to a cross-pollination of beer cultures, with Serbian consumers being exposed to different beer styles and flavors. As a result, Serbian breweries have been able to tap into this diversity and offer a wide range of beer options to cater to local tastes.

Underlying macroeconomic factors: Serbia's improving economy and rising disposable incomes have played a significant role in the growth of the beer market. As people have more money to spend, they are more likely to indulge in leisure activities such as dining out and socializing, which often involve the consumption of beer. Additionally, tourism has been on the rise in Serbia, attracting both domestic and international visitors who contribute to the demand for beer. In conclusion, the Beer market in Serbia is experiencing growth due to changing customer preferences, emerging trends such as craft beer and low-alcohol options, local special circumstances that influence beer culture, and underlying macroeconomic factors such as a growing economy and increasing disposable incomes. These factors combined create a favorable environment for the development and expansion of the beer market in Serbia.

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.