Cider, Perry & Rice Wine - Laos

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

Customer preferences: Laos has a rich cultural heritage and a strong tradition of consuming alcoholic beverages. Cider, Perry & Rice Wine are popular choices among the local population due to their unique flavors and cultural significance. Customers in Laos appreciate the natural and authentic taste of these beverages, which are often made using traditional methods and locally sourced ingredients. The refreshing and light nature of these drinks also appeals to the hot and humid climate in the country.

Trends in the market: One of the key trends in the Cider, Perry & Rice Wine market in Laos is the growing demand for premium and craft products. As consumers become more discerning and adventurous in their taste preferences, they are seeking out unique and high-quality offerings. This has led to an increase in the availability of artisanal ciders, perrys, and rice wines in the market. These products often command a higher price point and cater to a niche segment of consumers who value craftsmanship and authenticity. Another trend in the market is the rise of flavored ciders, perrys, and rice wines. Manufacturers are introducing innovative flavors and infusions to attract a wider consumer base. Flavors such as apple and ginger, pear and elderflower, and lychee and jasmine are gaining popularity among consumers who are looking for new and exciting taste experiences. This trend is driven by the desire for variety and novelty in the market.

Local special circumstances: Laos is known for its agricultural prowess, particularly in rice cultivation. Rice wine, a traditional alcoholic beverage made from fermented rice, holds a special place in Lao culture. It is often consumed during festive occasions and celebrations. The local production of rice wine provides a unique advantage for the Cider, Perry & Rice Wine market in Laos, as it allows for the availability of authentic and locally produced products. This gives the market a distinct identity and appeals to consumers who value traditional and indigenous offerings.

Underlying macroeconomic factors: Laos has been experiencing steady economic growth in recent years, which has contributed to the development of the Cider, Perry & Rice Wine market. As disposable incomes rise and consumer spending power increases, individuals are more willing to explore different beverage options and indulge in premium products. This has created a favorable environment for the growth of the market. Additionally, the tourism industry in Laos has been flourishing, attracting a large number of international visitors. These tourists often seek out unique cultural experiences, including trying local food and beverages. The demand from tourists has further fueled the growth of the Cider, Perry & Rice Wine market in Laos, as they are eager to sample the country's traditional drinks. In conclusion, the Cider, Perry & Rice Wine market in Laos is experiencing growth due to customer preferences for authentic and traditional beverages, the emergence of premium and craft offerings, the popularity of flavored products, the local production of rice wine, and favorable macroeconomic factors such as rising incomes and a thriving tourism industry.

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.