Alcoholic Drinks - Central & Western Europe

The Alcoholic Drinks market in Central & Western Europe is experiencing significant growth and development. Customer preferences in the region are shifting towards premium and craft alcoholic beverages. Consumers are becoming more discerning and are willing to pay a premium for high-quality and unique products. This trend is driven by a desire for authenticity, craftsmanship, and a preference for locally produced drinks. As a result, there has been an increase in the demand for craft beers, artisanal spirits, and small-batch wines. One of the key trends in the market is the rise of health-conscious consumers. There is a growing awareness of the negative health effects of excessive alcohol consumption, leading to a shift towards low-alcohol and non-alcoholic alternatives. This trend is driven by a desire to lead a healthier lifestyle and to reduce alcohol-related health risks. As a result, there has been an increase in the demand for low-alcohol beers, non-alcoholic spirits, and alcohol-free wines. Another trend in the market is the increasing popularity of online sales. Consumers are increasingly turning to online platforms to purchase alcoholic beverages, due to the convenience and wide selection of products available. Online retailers offer a diverse range of alcoholic drinks, including rare and hard-to-find products. This trend is driven by the increasing penetration of smartphones and the internet, as well as the growth of e-commerce platforms. Local special circumstances in Central & Western Europe also contribute to the development of the Alcoholic Drinks market. The region has a rich history and tradition of alcohol production, with many countries known for their specific alcoholic beverages. For example, France is renowned for its wines, Germany for its beers, and Scotland for its whiskies. This heritage and expertise in alcohol production give these countries a competitive advantage in the market. Underlying macroeconomic factors also play a role in the development of the Alcoholic Drinks market in Central & Western Europe. The region has a relatively high disposable income, which allows consumers to spend more on premium and craft alcoholic beverages. Additionally, the region has a strong tourism industry, attracting visitors from around the world who are interested in experiencing the local alcohol culture. This tourism contributes to the growth of the market, as visitors often purchase alcoholic beverages as souvenirs or to bring back to their home countries. In conclusion, the Alcoholic Drinks market in Central & Western Europe is developing due to changing customer preferences, including a shift towards premium and craft beverages, a rise in health-consciousness, and the popularity of online sales. Local special circumstances, such as the region's rich alcohol production heritage, and underlying macroeconomic factors, such as high disposable income and strong tourism industry, also contribute to the growth of the market.

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.