Cider, Perry & Rice Wine - Bosnia and Herzegovina

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

Customer preferences: Bosnia and Herzegovina has a long-standing tradition of consuming alcoholic beverages, and this cultural preference has extended to the Cider, Perry & Rice Wine market. Consumers in the country have shown a growing interest in exploring new and unique flavors, leading to an increased demand for these types of beverages. Additionally, there is a growing trend of health-consciousness among consumers, with many opting for lighter and low-alcohol options. This has further contributed to the popularity of Cider, Perry & Rice Wine, which are often perceived as healthier alternatives to other alcoholic beverages.

Trends in the market: One of the key trends in the Cider, Perry & Rice Wine market in Bosnia and Herzegovina is the rise of craft and artisanal products. Consumers are increasingly seeking out locally produced and small-batch beverages, as they value the authenticity and unique flavors that these products offer. This trend has led to the emergence of several local cider and rice wine producers, who are catering to the growing demand for high-quality and artisanal beverages. Another trend in the market is the increasing availability of flavored varieties. Manufacturers are constantly innovating and introducing new flavors to cater to the evolving preferences of consumers. Flavored ciders and rice wines, such as berry-infused or citrus-infused varieties, have gained popularity among consumers looking for a refreshing and fruity taste experience.

Local special circumstances: Bosnia and Herzegovina has a favorable climate for fruit cultivation, particularly apples and pears, which are key ingredients in the production of cider and perry. This abundance of locally grown fruits has provided a strong foundation for the development of the Cider, Perry & Rice Wine market in the country. Additionally, the country has a rich tradition of winemaking, which has contributed to the expertise and knowledge in the production of alcoholic beverages.

Underlying macroeconomic factors: The growing tourism industry in Bosnia and Herzegovina has played a significant role in the development of the Cider, Perry & Rice Wine market. As the country attracts more international visitors, there is an increased demand for unique and local products, including alcoholic beverages. This has created opportunities for local producers to expand their market reach and cater to a diverse customer base. Furthermore, the improving economic conditions in the country have resulted in higher disposable incomes among consumers. This has allowed them to explore and experiment with different types of alcoholic beverages, including ciders, perrys, and rice wines. The affordability and accessibility of these products have contributed to their growing popularity in the market. In conclusion, the Cider, Perry & Rice Wine market in Bosnia and Herzegovina is witnessing significant growth due to customer preferences for unique flavors, the rise of craft and artisanal products, the availability of flavored varieties, favorable local circumstances, and underlying macroeconomic factors such as the growing tourism industry and improving economic conditions.

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.