Hard Seltzer - Bosnia and Herzegovina

The Hard Seltzer market in Bosnia and Herzegovina is experiencing significant growth and development.

Customer preferences: Customers in Bosnia and Herzegovina are increasingly drawn to the refreshing and low-calorie nature of Hard Seltzers. These beverages offer a lighter alternative to traditional alcoholic drinks, making them appealing to health-conscious consumers. Additionally, the wide range of flavors available in the market caters to various taste preferences, further driving the demand for Hard Seltzers.

Trends in the market: One of the key trends in the Hard Seltzer market in Bosnia and Herzegovina is the increasing popularity of locally produced brands. Domestic manufacturers have recognized the potential of this market and have introduced their own Hard Seltzer products to cater to the growing demand. This trend is driven by a desire for locally sourced and produced goods, as well as the support for local businesses. Another trend in the market is the expansion of distribution channels for Hard Seltzers. Initially, these beverages were primarily available in bars and restaurants. However, with the rising demand, Hard Seltzers can now be found in supermarkets, convenience stores, and online platforms. This wider availability has made it more convenient for consumers to purchase and enjoy these beverages.

Local special circumstances: Bosnia and Herzegovina has a vibrant and growing tourism industry, which has contributed to the development of the Hard Seltzer market. Tourists, both domestic and international, are increasingly seeking out new and unique experiences, and trying local products is often part of that experience. Hard Seltzers, with their refreshing taste and wide range of flavors, have become a popular choice among tourists looking to explore the local beverage scene.

Underlying macroeconomic factors: The growth of the Hard Seltzer market in Bosnia and Herzegovina can also be attributed to several macroeconomic factors. The country has experienced steady economic growth in recent years, which has led to an increase in disposable income. As a result, consumers have more purchasing power and are willing to spend on premium and innovative products like Hard Seltzers. Furthermore, the influence of global trends and the increasing exposure to international markets have also played a role in the development of the Hard Seltzer market. As consumers in Bosnia and Herzegovina become more connected to the global market, they are exposed to new products and trends from around the world. This exposure has created a demand for Hard Seltzers, which have gained popularity in many other countries. In conclusion, the Hard Seltzer market in Bosnia and Herzegovina is growing rapidly due to customer preferences for low-calorie and refreshing beverages, the emergence of local brands, the expansion of distribution channels, the influence of the tourism industry, and underlying macroeconomic factors such as economic growth and global trends. As these factors continue to drive the market, it is expected that the Hard Seltzer industry in Bosnia and Herzegovina will continue to thrive in the coming years.

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.