Cider, Perry & Rice Wine - Guatemala

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

Customer preferences: Guatemalan consumers have shown a growing interest in alternative alcoholic beverages, such as cider, perry, and rice wine. This shift in consumer preferences can be attributed to several factors. Firstly, there is a growing awareness and appreciation for different flavors and varieties of alcoholic beverages. Consumers are increasingly seeking out unique and exotic tastes, and cider, perry, and rice wine offer a refreshing alternative to traditional alcoholic beverages. Additionally, these beverages are often perceived as healthier options compared to beer or spirits, as they are typically lower in alcohol content and can be made from natural ingredients.

Trends in the market: One of the key trends in the cider, perry, and rice wine market in Guatemala is the increasing availability and variety of these beverages. Local and international producers have recognized the growing demand and have introduced a wide range of products to cater to different consumer preferences. This includes flavored ciders, artisanal perry, and premium rice wines. The market is also witnessing a rise in the number of craft cider and rice wine producers, offering small-batch, high-quality products that appeal to discerning consumers.

Local special circumstances: Guatemala has a rich cultural heritage, and this plays a significant role in shaping consumer preferences in the cider, perry, and rice wine market. Traditional Guatemalan cuisine often incorporates fruits and spices, which are also key ingredients in these beverages. This familiarity with flavors and ingredients has made it easier for consumers to embrace cider, perry, and rice wine as part of their drinking culture. Additionally, the country's tropical climate makes these beverages particularly appealing, as they are often served chilled and can provide a refreshing respite from the heat.

Underlying macroeconomic factors: The growth of the cider, perry, and rice wine market in Guatemala can also be attributed to favorable macroeconomic conditions. The country has experienced steady economic growth in recent years, leading to an increase in disposable income and overall consumer spending. This has allowed consumers to explore new and premium alcoholic beverages, including cider, perry, and rice wine. Additionally, the tourism industry in Guatemala has been thriving, with an increasing number of international visitors seeking out unique culinary experiences. This has created a demand for local and artisanal products, including cider, perry, and rice wine, which are often associated with the country's cultural heritage. In conclusion, the cider, perry, and rice wine market in Guatemala is developing due to changing customer preferences, increasing availability and variety of these beverages, local cultural influences, and favorable macroeconomic conditions. As consumers continue to seek out new and unique drinking experiences, the market is expected to grow further in the coming years.

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.