Alcoholic Drinks - Croatia

The Alcoholic Drinks market in Croatia has been experiencing significant growth in recent years. Customer preferences, trends in the market, local special circumstances, and underlying macroeconomic factors have all contributed to this development. Customer preferences in Croatia have shifted towards premium and craft alcoholic drinks. Consumers are increasingly seeking unique and high-quality products, and are willing to pay a premium for them. This trend is driven by a growing middle class with higher disposable incomes, as well as a desire for more sophisticated and diverse drinking experiences. As a result, there has been an increase in the demand for premium spirits, craft beers, and boutique wines. Trends in the market also reflect the growing interest in premium and craft alcoholic drinks. Local breweries and distilleries have emerged, offering a wide range of unique and artisanal products. These small-scale producers often focus on traditional brewing and distilling methods, using locally sourced ingredients to create distinctive flavors. This trend has not only attracted local consumers, but has also gained attention from international tourists seeking authentic and local experiences. Local special circumstances in Croatia have also contributed to the development of the Alcoholic Drinks market. The country's rich cultural heritage and favorable climate for grape cultivation have made it an ideal location for wine production. Croatian wines have gained recognition and awards on the international stage, further boosting the reputation of the country's alcoholic drinks industry. Additionally, the growing popularity of tourism in Croatia has created opportunities for the hospitality sector, leading to increased consumption of alcoholic drinks in bars, restaurants, and hotels. Underlying macroeconomic factors have played a role in the growth of the Alcoholic Drinks market in Croatia. The country's economy has been steadily recovering from the global financial crisis, leading to increased consumer confidence and spending. Rising disposable incomes have allowed consumers to indulge in premium and craft alcoholic drinks, driving demand in the market. Furthermore, the government has implemented policies to support the development of the alcoholic drinks industry, such as tax incentives for small-scale producers and efforts to promote Croatian wines and spirits abroad. In conclusion, the Alcoholic Drinks market in Croatia is experiencing growth due to changing customer preferences, trends in the market, local special circumstances, and underlying macroeconomic factors. The shift towards premium and craft alcoholic drinks, the emergence of local breweries and distilleries, the country's cultural heritage and favorable climate, and the recovering economy all contribute to the positive development of the market.

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.