Cider, Perry & Rice Wine - Thailand

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

Customer preferences: Thai consumers have shown a growing interest in alternative alcoholic beverages, which has contributed to the increasing popularity of cider, perry, and rice wine. These beverages offer a unique flavor profile and are often perceived as a healthier alternative to traditional alcoholic drinks. Additionally, there is a growing trend among younger consumers to explore new and unique flavors, which has further fueled the demand for these products.

Trends in the market: One of the key trends in the Thai Cider, Perry & Rice Wine market is the introduction of innovative flavors and product variants. Manufacturers are constantly experimenting with different ingredients and flavor combinations to cater to the evolving tastes of consumers. This has resulted in a wide range of options available in the market, appealing to a broader consumer base. Another notable trend is the increasing availability of craft and artisanal cider, perry, and rice wine. These products are often produced in small batches and are known for their high quality and unique characteristics. Thai consumers, particularly those with a discerning taste, are willing to pay a premium for these premium offerings, driving the growth of the craft segment.

Local special circumstances: Thailand's tropical climate and rich agricultural resources provide a favorable environment for the production of rice, fruits, and other ingredients used in the production of cider, perry, and rice wine. This has encouraged local manufacturers to explore and invest in the production of these beverages. Additionally, the country's strong tourism industry has created a demand for unique and local products, further supporting the growth of the market.

Underlying macroeconomic factors: Thailand's growing middle class and increasing disposable income levels have played a significant role in the development of the Cider, Perry & Rice Wine market. As consumers have more disposable income, they are willing to spend on premium and unique products, including alcoholic beverages. Furthermore, the government's efforts to promote the country's agricultural sector have also contributed to the growth of the market, as it has led to an increase in the availability of high-quality ingredients used in the production of these beverages. In conclusion, the Cider, Perry & Rice Wine market in Thailand is experiencing growth due to changing customer preferences, the introduction of innovative flavors, the availability of craft and artisanal products, favorable local circumstances, and underlying macroeconomic factors such as a growing middle class and increased disposable income levels.

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.