Hard Seltzer - Bulgaria

The Hard Seltzer market in Bulgaria has seen significant growth in recent years, driven by changing customer preferences and local special circumstances.

Customer preferences: Bulgarian consumers have shown a growing interest in healthier and low-calorie beverage options, which has contributed to the rise in popularity of Hard Seltzers. With an increasing focus on health and wellness, many consumers are seeking alternatives to traditional alcoholic beverages that are lower in sugar and calories. Hard Seltzers, which are typically made with sparkling water and infused with natural flavors, offer a lighter and more refreshing option compared to beer or other spirits. This appeals to health-conscious consumers who are looking for a drink that aligns with their lifestyle choices.

Trends in the market: The trend of moderation and mindful drinking has also influenced the growth of the Hard Seltzer market in Bulgaria. As more consumers are opting for lower alcohol content beverages, Hard Seltzers with their lower ABV (alcohol by volume) have gained popularity. This trend is in line with the global shift towards more responsible drinking habits and the desire for a more balanced lifestyle. Another trend driving the growth of the Hard Seltzer market in Bulgaria is the increasing demand for flavored alcoholic beverages. Hard Seltzers come in a wide range of flavors, offering consumers a variety of options to choose from. This variety appeals to consumers who are looking for new and exciting taste experiences.

Local special circumstances: Bulgaria has a vibrant and growing craft beer scene, which has created a favorable environment for the introduction and acceptance of Hard Seltzers. The craft beer movement has educated consumers about different beer styles and flavors, making them more open to trying new and innovative alcoholic beverages like Hard Seltzers. The presence of craft breweries has also provided a platform for local producers to experiment with flavors and develop their own unique offerings in the Hard Seltzer category.

Underlying macroeconomic factors: The overall economic growth and increasing disposable income in Bulgaria have also played a role in the development of the Hard Seltzer market. As consumers have more purchasing power, they are willing to explore new and premium products. This has created an opportunity for both domestic and international brands to enter the market and cater to the growing demand for Hard Seltzers. In conclusion, the Hard Seltzer market in Bulgaria is experiencing growth due to changing customer preferences towards healthier and low-calorie beverages, the trend of moderation and mindful drinking, the demand for flavored alcoholic beverages, the presence of a vibrant craft beer scene, and the overall economic growth in the country. These factors have created a favorable environment for the development and expansion of the Hard Seltzer market in Bulgaria.

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.