Cider, Perry & Rice Wine - Peru

The Cider, Perry & Rice Wine market in Peru is experiencing significant growth and development.

Customer preferences: Peruvian consumers are increasingly embracing the consumption of Cider, Perry & Rice Wine. This can be attributed to a shift in consumer preferences towards healthier and more diverse beverage options. Cider, Perry & Rice Wine are perceived as refreshing and light alternatives to traditional alcoholic beverages, making them appealing to health-conscious consumers. Additionally, the unique flavors and aromas of these beverages cater to the growing demand for new and exotic taste experiences.

Trends in the market: One of the key trends in the Cider, Perry & Rice Wine market in Peru is the emergence of craft and artisanal brands. Consumers are seeking out locally produced and authentic products, and this trend has extended to the beverage industry. Craft Cider, Perry & Rice Wine producers are gaining popularity as they offer unique and high-quality products that cater to the preferences of discerning consumers. This trend is driving innovation and competition in the market, as larger companies are also introducing craft-style products to meet the demand. Another trend in the market is the growing popularity of flavored Cider, Perry & Rice Wine. Manufacturers are introducing a wide range of flavors, such as apple, pear, and tropical fruits, to cater to the diverse tastes of consumers. Flavored Cider, Perry & Rice Wine are particularly appealing to younger consumers who are looking for innovative and exciting beverage options. This trend is driving product development and marketing strategies in the market.

Local special circumstances: Peru is known for its rich agricultural heritage, with a variety of fruits and grains being cultivated in the country. This abundance of natural resources provides a unique opportunity for the production of Cider, Perry & Rice Wine. Local producers are able to source high-quality ingredients locally, ensuring the authenticity and freshness of their products. This local advantage has contributed to the growth of the Cider, Perry & Rice Wine market in Peru, as consumers are increasingly drawn to locally produced and sustainable products.

Underlying macroeconomic factors: The growing middle class in Peru has led to an increase in disposable income and consumer spending. As a result, consumers are able to allocate more of their budget towards premium and specialty beverages, such as Cider, Perry & Rice Wine. This favorable economic environment has created a market for higher-priced and niche products, driving the growth of the Cider, Perry & Rice Wine market. Furthermore, the tourism industry in Peru has been experiencing significant growth in recent years. Tourists visiting the country are often looking to explore the local culture and cuisine, and trying traditional beverages is an important part of the experience. This has created a demand for Cider, Perry & Rice Wine as tourists seek to sample and bring home authentic Peruvian products. The tourism industry has therefore played a role in promoting and expanding the market for Cider, Perry & Rice Wine in Peru.

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.