Cider, Perry & Rice Wine - Bhutan

The Cider, Perry & Rice Wine market in Bhutan has been experiencing significant growth in recent years.

Customer preferences: Bhutanese consumers have shown a growing interest in alcoholic beverages beyond traditional options such as beer and whiskey. This has led to an increased demand for cider, perry, and rice wine in the country. These beverages offer a unique taste profile and are often perceived as more exotic and sophisticated choices compared to mainstream options. Additionally, younger consumers are increasingly open to trying new and different alcoholic beverages, contributing to the growing popularity of cider, perry, and rice wine in Bhutan.

Trends in the market: One of the key trends in the Cider, Perry & Rice Wine market in Bhutan is the rise of craft and artisanal products. Consumers are seeking out high-quality, locally produced options that offer a unique and authentic experience. This trend aligns with the global movement towards craft beverages and the preference for products with a story behind them. As a result, small-scale producers of cider, perry, and rice wine have emerged in Bhutan, offering a range of innovative and distinctive products. Another trend in the market is the increasing availability and variety of flavored cider, perry, and rice wine. Manufacturers are experimenting with different flavors and ingredients to cater to diverse consumer preferences. This trend reflects the growing demand for more adventurous and unique flavor profiles in the alcoholic beverage market. Flavored options are particularly popular among younger consumers who are looking for exciting and innovative drinking experiences.

Local special circumstances: Bhutan's unique cultural heritage and strong emphasis on tradition have influenced the development of the Cider, Perry & Rice Wine market in the country. Rice wine, known as "ara," has been a part of Bhutanese culture for centuries and is often consumed during religious and social gatherings. This cultural significance has created a strong foundation for the acceptance and appreciation of cider, perry, and rice wine in Bhutan.

Underlying macroeconomic factors: The growing tourism industry in Bhutan has played a significant role in driving the demand for cider, perry, and rice wine. As more tourists visit the country, there is an increased exposure to different types of alcoholic beverages, including cider, perry, and rice wine. This exposure has led to a greater awareness and interest in these products among both tourists and locals. Furthermore, Bhutan's economic growth and rising disposable incomes have contributed to the expansion of the Cider, Perry & Rice Wine market. As people have more money to spend on leisure activities, they are willing to explore and experiment with different alcoholic beverages. This has created a favorable environment for the growth of the cider, perry, and rice wine market in Bhutan. In conclusion, the Cider, Perry & Rice Wine market in Bhutan is experiencing growth due to changing customer preferences, including a desire for more exotic and sophisticated alcoholic beverages. The market is also influenced by trends such as the rise of craft and artisanal products, as well as the availability of flavored options. Bhutan's cultural heritage and strong emphasis on tradition, along with the growth of the tourism industry and rising disposable incomes, are underlying macroeconomic factors driving the market's development.

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.