Alcoholic Drinks - G7

The Alcoholic Drinks market in G7 countries is experiencing significant growth and development. Customer preferences, trends in the market, local special circumstances, and underlying macroeconomic factors are all contributing to this positive trajectory. Customer preferences in the Alcoholic Drinks market in G7 countries are evolving. Consumers are increasingly seeking out premium and craft options, as they prioritize quality and unique flavors. This shift in preferences is driving the growth of small-scale, local producers who are able to cater to these niche markets. Additionally, there is a growing demand for healthier options, such as low-alcohol or alcohol-free beverages, as consumers become more health-conscious. This has led to the development of new products and innovations in the market. Trends in the market are also shaping its development in G7 countries. One notable trend is the rise of e-commerce and online sales channels. Consumers are increasingly turning to online platforms to purchase their alcoholic beverages, as it offers convenience and a wider selection. This trend is particularly prevalent in countries with well-developed e-commerce infrastructure, such as the United States and the United Kingdom. Another trend is the increasing popularity of experiential drinking, where consumers are seeking out unique and immersive drinking experiences. This has led to the growth of specialty bars and tasting events, as well as an increased focus on the story and origin of the products. Local special circumstances in each G7 country are also influencing the development of the Alcoholic Drinks market. For example, in France, wine is deeply ingrained in the culture and is a significant part of the country's identity. This has led to a strong domestic wine market and a preference for local French wines. In Japan, there is a strong tradition of sake consumption, which has led to a thriving sake industry and a growing interest in Japanese craft spirits. These local special circumstances contribute to the unique dynamics of the market in each country. Underlying macroeconomic factors are also playing a role in the development of the Alcoholic Drinks market in G7 countries. Economic growth and rising disposable incomes are enabling consumers to spend more on premium and high-quality alcoholic beverages. Additionally, changing demographics, such as an aging population and a rise in female drinkers, are influencing the types of products that are in demand. These macroeconomic factors create a favorable environment for the growth and expansion of the market. Overall, the Alcoholic Drinks market in G7 countries is experiencing growth and development driven by evolving customer preferences, market trends, local special circumstances, and underlying macroeconomic factors. This presents opportunities for both domestic and international players in the industry to capitalize on these trends and cater to the changing demands of consumers.

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.