Cider, Perry & Rice Wine - Panama

The Cider, Perry & Rice Wine market in Panama is experiencing steady growth due to changing customer preferences, emerging trends in the market, local special circumstances, and underlying macroeconomic factors. Customer preferences in Panama have shifted towards lighter and more refreshing alcoholic beverages, leading to an increased demand for Cider, Perry & Rice Wine. Consumers are seeking alternatives to traditional alcoholic beverages such as beer and spirits, and are attracted to the unique flavors and lower alcohol content of these products. Additionally, the growing health consciousness among consumers has also contributed to the rise in popularity of Cider, Perry & Rice Wine, as they are perceived as healthier options compared to other alcoholic beverages. Trends in the market indicate a growing interest in craft and artisanal Cider, Perry & Rice Wine. Consumers are increasingly seeking high-quality, locally produced products that offer unique flavors and experiences. This trend aligns with the global movement towards supporting local businesses and sustainable practices. As a result, small-scale producers are emerging in Panama, offering a wide variety of Cider, Perry & Rice Wine options to cater to the evolving tastes and preferences of consumers. Local special circumstances in Panama also contribute to the development of the Cider, Perry & Rice Wine market. The country's tropical climate and abundance of fruits provide favorable conditions for the production of these beverages. Panama has a rich agricultural sector, with a variety of fruits such as apples, pears, and rice readily available. This availability of locally sourced ingredients allows for the production of high-quality Cider, Perry & Rice Wine, further driving the market's growth. Underlying macroeconomic factors also play a role in the development of the Cider, Perry & Rice Wine market in Panama. The country's stable economic growth and rising disposable incomes have led to an increase in consumer spending on premium and niche products. As consumers become more willing to experiment with new and unique beverages, the demand for Cider, Perry & Rice Wine continues to rise. In conclusion, the Cider, Perry & Rice Wine market in Panama is experiencing growth due to changing customer preferences, emerging trends, local special circumstances, and underlying macroeconomic factors. The demand for lighter and more refreshing alcoholic beverages, the trend towards craft and artisanal products, the availability of locally sourced ingredients, and the country's stable economic growth all contribute to the market's expansion.

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.