Beer - Suriname

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

Customer preferences: Suriname has a strong beer-drinking culture, with beer being the preferred alcoholic beverage for many consumers. This preference can be attributed to the hot and humid climate of the country, where a cold beer is often seen as a refreshing and thirst-quenching option. Additionally, beer is often consumed during social gatherings and celebrations, further driving its popularity among consumers.

Trends in the market: One noticeable trend in the Surinamese beer market is the increasing demand for craft beers. Craft breweries have emerged in the country, offering a wide range of unique and flavorful beers that cater to the evolving tastes and preferences of consumers. This trend can be attributed to the growing interest in artisanal products and the desire for more diverse and high-quality beer options. Another trend in the Surinamese beer market is the rising popularity of low-alcohol and non-alcoholic beers. Health-conscious consumers are opting for these alternatives as they seek to reduce their alcohol intake without compromising on taste. This trend aligns with the global shift towards healthier lifestyles and the increasing demand for low-alcohol or alcohol-free options.

Local special circumstances: Suriname's unique cultural diversity plays a significant role in shaping the beer market. The country is home to various ethnic groups, each with its own preferences and drinking habits. As a result, beer brands in Suriname often cater to these diverse tastes, offering a wide range of options that appeal to different consumer segments. This diversity also contributes to the overall growth of the beer market as it ensures a larger customer base.

Underlying macroeconomic factors: Suriname's growing economy has had a positive impact on the beer market. With increasing disposable incomes and a rising middle class, consumers now have more purchasing power to spend on discretionary items such as beer. This economic growth has also led to an increase in tourism, further boosting the demand for beer in the country. In conclusion, the Beer market in Suriname is developing due to customer preferences for beer as the preferred alcoholic beverage, the increasing demand for craft beers and low-alcohol/non-alcoholic options, the country's cultural diversity, and the underlying macroeconomic factors such as growing disposable incomes and tourism. These factors contribute to the overall growth and expansion of the beer market in Suriname.

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.