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Mon - Fri, 10:00am - 6:00pm (JST)
Mon - Fri, 9:30am - 5pm (GMT)
Mon - Fri, 9am - 6pm (EST)
Key regions: United Kingdom, Philippines, Worldwide, India, United Kingdom
The Cider, Perry & Rice Wine market in ASEAN is experiencing significant growth and development due to changing customer preferences, emerging trends, and local special circumstances.
Customer preferences: In recent years, there has been a noticeable shift in customer preferences towards healthier and more diverse beverage options. Consumers are increasingly seeking alternatives to traditional alcoholic beverages such as beer and spirits, and are turning to cider, perry, and rice wine as a result. These beverages are often perceived as being lighter, more refreshing, and lower in alcohol content, making them appealing to health-conscious individuals and those looking for unique flavors. Additionally, the growing popularity of craft and artisanal products has also contributed to the rise in demand for these beverages, as consumers appreciate the quality and authenticity that these products offer.
Trends in the market: One of the key trends in the Cider, Perry & Rice Wine market in ASEAN is the increasing availability and variety of products. As consumer demand continues to grow, both domestic and international producers are expanding their product offerings to cater to different tastes and preferences. This includes the introduction of flavored ciders, perrys, and rice wines, as well as the use of innovative ingredients and production techniques. Furthermore, there has been a rise in the number of cider bars and festivals, providing consumers with opportunities to explore and experience a wide range of products.
Local special circumstances: The unique cultural and culinary traditions of ASEAN countries have also contributed to the development of the Cider, Perry & Rice Wine market. For example, rice wine has a long history and cultural significance in countries such as Vietnam and Thailand, where it is often used in traditional ceremonies and celebrations. This has created a strong local demand for rice wine, which has in turn encouraged the growth of domestic production and the emergence of new market players. Additionally, the availability of locally sourced fruits and ingredients has allowed producers to create distinct and regionally-inspired flavors, further enhancing the appeal of these beverages.
Underlying macroeconomic factors: Several macroeconomic factors have also played a role in the development of the Cider, Perry & Rice Wine market in ASEAN. Economic growth and rising disposable incomes have increased consumer purchasing power, allowing individuals to explore and indulge in new and premium beverage options. Additionally, urbanization and changing lifestyles have led to a greater emphasis on socializing and leisure activities, creating opportunities for the Cider, Perry & Rice Wine market to thrive. Furthermore, the increasing popularity of tourism in the region has also contributed to the growth of the market, as visitors are often interested in trying local and unique beverages as part of their cultural experience. In conclusion, the Cider, Perry & Rice Wine market in ASEAN is experiencing significant growth and development due to changing customer preferences, emerging trends, local special circumstances, and underlying macroeconomic factors. As consumers continue to seek healthier and more diverse beverage options, the market is expected to expand further, with an increasing variety of products and flavors becoming available to cater to different tastes and preferences.
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.
Mon - Fri, 9am - 6pm (EST)
Mon - Fri, 9am - 5pm (SGT)
Mon - Fri, 10:00am - 6:00pm (JST)
Mon - Fri, 9:30am - 5pm (GMT)
Mon - Fri, 9am - 6pm (EST)