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Mon - Fri, 9am - 6pm (EST)
Key regions: Worldwide, United States, Russia, United Kingdom, India
The Alcoholic Drinks market in Estonia has been experiencing significant growth in recent years, driven by changing customer preferences, emerging trends in the market, local special circumstances, and underlying macroeconomic factors. Customer preferences in the Alcoholic Drinks market in Estonia have been shifting towards premium and craft products. Consumers are increasingly seeking unique and high-quality alcoholic beverages, such as craft beers and artisanal spirits. This trend is driven by a growing interest in local and authentic products, as well as a desire for more sophisticated and diverse drinking experiences. Additionally, health-conscious consumers are opting for low-alcohol or alcohol-free alternatives, reflecting a broader global trend towards moderation and wellness. Trends in the market include the rise of e-commerce and online sales channels. With the increasing popularity of online shopping, more consumers are purchasing alcoholic beverages online, which offers convenience and a wide range of products to choose from. This trend is further accelerated by the COVID-19 pandemic, as consumers are turning to online platforms for their shopping needs. The growth of e-commerce has also opened up opportunities for smaller, niche brands to reach a wider audience and compete with larger, established players in the market. Local special circumstances in Estonia, such as its strong tradition of alcohol production and consumption, have contributed to the development of the Alcoholic Drinks market. Estonia has a rich history of producing and consuming alcoholic beverages, including traditional spirits like vodka and liqueurs. This cultural heritage has created a demand for local products, as well as a thriving craft brewing and distilling scene. Additionally, Estonia's geographical location and proximity to other European countries have facilitated the import and export of alcoholic beverages, further diversifying the market and offering consumers a wide range of choices. Underlying macroeconomic factors, such as increasing disposable incomes and a growing tourism industry, have also played a role in the development of the Alcoholic Drinks market in Estonia. As the country's economy has grown, consumers have more purchasing power to spend on discretionary items like alcoholic beverages. Moreover, the tourism industry has been booming in recent years, attracting visitors from around the world who are eager to explore Estonia's rich cultural heritage, including its traditional drinks and local specialties. In conclusion, the Alcoholic Drinks market in Estonia is experiencing growth due to changing customer preferences, emerging trends in the market, local special circumstances, and underlying macroeconomic factors. Consumers are increasingly seeking premium and craft products, while the rise of e-commerce is reshaping the way alcoholic beverages are purchased. Local traditions, such as Estonia's strong alcohol culture, and macroeconomic factors like increasing disposable incomes and a growing tourism industry, are also driving the market's development.
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.
Mon - Fri, 9am - 6pm (EST)
Mon - Fri, 9am - 5pm (SGT)
Mon - Fri, 10:00am - 6:00pm (JST)
Mon - Fri, 9:30am - 5pm (GMT)
Mon - Fri, 9am - 6pm (EST)