Cider, Perry & Rice Wine - Finland

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

Customer preferences: Finland has a strong tradition of consuming alcoholic beverages, and the popularity of cider, perry, and rice wine has been on the rise. One of the reasons for this trend is the increasing preference for lighter and more refreshing alcoholic beverages among Finnish consumers. Cider, perry, and rice wine offer a unique taste profile that appeals to those looking for a change from traditional beer and wine options. Additionally, the growing health consciousness among consumers has led to an increased demand for low-alcohol or alcohol-free options, and these products often fit the bill.

Trends in the market: The market for cider, perry, and rice wine in Finland has seen a surge in product innovation and variety. Manufacturers are introducing new flavors and experimenting with different ingredients to cater to the evolving tastes of consumers. This trend is driven by the desire to stand out in a crowded market and attract new customers. In addition, the growing popularity of craft beverages has also contributed to the diversification of the market, with smaller producers entering the scene and offering unique and artisanal products.

Local special circumstances: Finland's climate and geography play a role in shaping the market for cider, perry, and rice wine. The country's long and cold winters make it a challenge to grow traditional wine grapes, leading to a limited production of wine. This has created an opportunity for alternative beverages like cider, perry, and rice wine to fill the gap. Additionally, Finland has a strong tradition of apple cultivation, which has further fueled the growth of the cider market. The availability of locally sourced ingredients has allowed Finnish producers to create high-quality products that resonate with the local consumers.

Underlying macroeconomic factors: The strong growth in the cider, perry, and rice wine market in Finland can also be attributed to favorable macroeconomic factors. Finland has a stable economy and a high standard of living, which has resulted in increased disposable income for consumers. This has led to a willingness to spend on premium and niche products, including cider, perry, and rice wine. Additionally, the country's tourism industry has been growing steadily, attracting visitors from all over the world. These tourists often seek out unique and authentic experiences, including trying local beverages, which has further boosted the demand for cider, perry, and rice wine.

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.