Hard Seltzer - Finland

The Hard Seltzer market in Finland has seen significant growth in recent years, driven by changing consumer preferences and a shift towards healthier beverage options.

Customer preferences: In Finland, consumers are increasingly seeking out low-calorie and low-sugar alternatives to traditional alcoholic beverages. This trend is fueled by a growing awareness of health and wellness, as well as a desire to reduce alcohol consumption. Hard Seltzers, with their lower calorie and sugar content compared to beer and other alcoholic drinks, have quickly gained popularity among health-conscious consumers.

Trends in the market: The rise of the Hard Seltzer market in Finland can be attributed to several key trends. Firstly, the demand for convenient and ready-to-drink beverages has been on the rise, driven by busy lifestyles and a desire for on-the-go options. Hard Seltzers, with their pre-mixed and portable nature, cater to this need for convenience. Secondly, the popularity of flavored alcoholic beverages has been growing worldwide, and Finland is no exception. Hard Seltzers offer a wide range of flavors, appealing to consumers who are looking for variety and novelty in their drink choices. Furthermore, the rise of social media and influencer culture has played a role in the success of the Hard Seltzer market in Finland. Many young consumers are influenced by social media trends and are drawn to the aesthetic appeal and lifestyle associations of Hard Seltzers. This has contributed to the growth of the market, as consumers seek out products that align with their personal brand and image.

Local special circumstances: Finland has a strong drinking culture, with alcohol consumption being deeply ingrained in social gatherings and celebrations. However, there is a growing trend towards moderation and a shift away from heavy drinking. This cultural shift has created a demand for lighter and healthier alcoholic options, which Hard Seltzers are well-positioned to fulfill. Additionally, Finland has a strong craft beer scene, with many local breweries producing high-quality and innovative beers. This culture of experimentation and appreciation for unique flavors has translated well to the Hard Seltzer market, as consumers are open to trying new and interesting flavor combinations.

Underlying macroeconomic factors: The Finnish economy has been relatively stable in recent years, with a high standard of living and disposable income. This has allowed consumers to prioritize quality and health when making purchasing decisions, including their choice of alcoholic beverages. Furthermore, the government has implemented policies to promote healthier lifestyles, including initiatives to reduce alcohol consumption. This has created an environment where low-alcohol and low-calorie options, such as Hard Seltzers, are increasingly popular. In conclusion, the Hard Seltzer market in Finland has experienced significant growth due to changing consumer preferences, trends towards convenience and flavored beverages, local special circumstances, and underlying macroeconomic factors. As consumers continue to prioritize health and wellness, the market for Hard Seltzers is expected to continue its upward trajectory.

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.