Cider, Perry & Rice Wine - Nepal

The Cider, Perry & Rice Wine market in Nepal has been experiencing significant growth in recent years. Customer preferences in Nepal have shifted towards lighter and more refreshing alcoholic beverages, which has contributed to the increasing demand for cider, perry, and rice wine. These beverages are often perceived as a healthier alternative to traditional alcoholic drinks, as they are typically lower in alcohol content and contain natural ingredients. Additionally, the unique flavors and aromas of cider, perry, and rice wine have appealed to a growing number of Nepalese consumers who are seeking new taste experiences. One of the key trends in the market is the rise of craft cider, perry, and rice wine. Craft beverages are gaining popularity worldwide, and Nepal is no exception. Consumers are increasingly interested in locally produced and artisanal products, and this trend has extended to the cider, perry, and rice wine market. Craft producers often focus on using high-quality ingredients and traditional production methods, resulting in products that are perceived as more authentic and of higher quality. Another trend in the market is the increasing availability and variety of flavored cider, perry, and rice wine. Manufacturers are constantly innovating and introducing new flavors to cater to changing consumer preferences. This has expanded the appeal of these beverages to a wider audience, including those who may not have previously been interested in cider, perry, or rice wine. Flavored options such as apple and pear cider, as well as infused rice wine with fruits and herbs, have become particularly popular choices. Local special circumstances in Nepal have also contributed to the growth of the cider, perry, and rice wine market. Nepal is known for its diverse agricultural landscape, with a wide variety of fruits and grains being grown in different regions. This abundance of natural resources has provided local producers with the opportunity to experiment with different ingredients and flavors, resulting in a unique range of cider, perry, and rice wine offerings. Underlying macroeconomic factors have also played a role in the development of the market. Nepal has experienced steady economic growth in recent years, leading to an increase in disposable income among consumers. This has allowed more people to afford premium and higher-priced alcoholic beverages, including cider, perry, and rice wine. Additionally, the growing tourism industry in Nepal has attracted visitors from around the world, exposing them to the country's local beverages and contributing to the demand for cider, perry, and rice wine. In conclusion, the Cider, Perry & Rice Wine market in Nepal is growing due to shifting customer preferences towards lighter and more refreshing beverages, the rise of craft producers and flavored options, local special circumstances that allow for unique offerings, and underlying macroeconomic factors such as increased disposable income and tourism.

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.