Hard Seltzer - El Salvador

The Hard Seltzer market in El Salvador is experiencing significant growth and development.

Customer preferences: El Salvadorian consumers are increasingly drawn to the refreshing and low-calorie nature of Hard Seltzers. The market is witnessing a shift in consumer preferences towards healthier beverage options, and Hard Seltzers perfectly align with this trend. The younger demographic, in particular, is showing a strong affinity for these alcoholic sparkling water beverages.

Trends in the market: One of the key trends in the Hard Seltzer market in El Salvador is the introduction of a wide variety of flavors. Manufacturers are constantly innovating and introducing new flavors to cater to the diverse taste preferences of consumers. This trend is driven by the desire to capture a larger market share and differentiate themselves from competitors. Additionally, the market is witnessing an increase in the availability of local craft Hard Seltzer brands, providing consumers with unique and artisanal options.

Local special circumstances: El Salvador's warm climate and beach culture make it an ideal market for the consumption of refreshing beverages like Hard Seltzers. The popularity of beach destinations and outdoor activities further contributes to the demand for these light and easy-to-drink alcoholic beverages. The country's growing tourism industry also plays a role in driving the sales of Hard Seltzers, as tourists are often looking for refreshing and tropical drink options.

Underlying macroeconomic factors: The overall economic growth and stability in El Salvador have positively impacted the Hard Seltzer market. As the economy continues to improve, consumers have more disposable income to spend on discretionary items such as alcoholic beverages. This increase in purchasing power has led to a higher demand for premium and innovative products, including Hard Seltzers. Additionally, the increasing urbanization and westernization of El Salvadorian society have influenced consumer behavior and preferences. As the country becomes more connected to global trends and lifestyles, consumers are embracing new and fashionable beverage options like Hard Seltzers. In conclusion, the Hard Seltzer market in El Salvador is thriving due to the growing consumer preference for healthier and refreshing alcoholic beverages. The introduction of a variety of flavors, the local beach culture, and the country's improving economy are all contributing factors to the market's development. As the market continues to evolve, it is expected to attract more players and witness further innovation in terms of flavors and branding.

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.