Cider, Perry & Rice Wine - Madagascar

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

Customer preferences: In Madagascar, there is a growing demand for alcoholic beverages, including cider, perry, and rice wine. This can be attributed to changing consumer preferences and an increasing interest in exploring different types of alcoholic drinks. Additionally, the unique flavors and aromas offered by these beverages have captured the attention of consumers in the country.

Trends in the market: One of the key trends in the Cider, Perry & Rice Wine market in Madagascar is the rising popularity of locally produced beverages. Consumers are increasingly interested in supporting local businesses and experiencing the authentic flavors of Madagascar. This has led to a surge in the production and consumption of locally made cider, perry, and rice wine. Another trend in the market is the introduction of innovative flavors and variations of these beverages. Manufacturers are constantly experimenting with different ingredients and production techniques to create new and exciting products. This has helped to attract a wider consumer base and generate interest in the market.

Local special circumstances: Madagascar is known for its rich agricultural resources, including a variety of fruits and rice. This abundance of raw materials has provided a favorable environment for the production of cider, perry, and rice wine. Local producers have been able to leverage these resources to create unique and high-quality beverages that cater to the preferences of the local consumers. Additionally, the tourism industry in Madagascar has played a significant role in driving the demand for these beverages. Tourists visiting the country are often interested in trying local specialties, including alcoholic beverages. This has created a market for cider, perry, and rice wine, both among the local population and tourists.

Underlying macroeconomic factors: The growing economy of Madagascar has contributed to the development of the Cider, Perry & Rice Wine market. As the country's GDP increases, consumers have more disposable income to spend on discretionary items such as alcoholic beverages. This has created a favorable market environment for the growth of the cider, perry, and rice wine industry. Furthermore, the government of Madagascar has implemented policies to support the growth of the beverage industry. This includes providing incentives for local producers and implementing regulations to ensure the quality and safety of the products. These measures have helped to create a conducive business environment for manufacturers and boost the market for cider, perry, and rice wine. In conclusion, the Cider, Perry & Rice Wine market in Madagascar is experiencing growth due to changing consumer preferences, the introduction of innovative flavors, the availability of local resources, and the support of the government. These factors have created a favorable market environment for the development and expansion of the cider, perry, and rice wine industry in Madagascar.

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.