Hard Seltzer - Guatemala

The Hard Seltzer market in Guatemala has been experiencing significant growth in recent years, driven by changing consumer preferences and a growing demand for low-calorie and refreshing alcoholic beverages.

Customer preferences: Guatemalan consumers are increasingly seeking healthier alternatives to traditional alcoholic beverages. They are becoming more health-conscious and are looking for options that are lower in calories and sugar. Hard Seltzers, with their low-calorie content and natural flavors, have quickly gained popularity among this demographic. Additionally, the younger generation, in particular, is attracted to the trendy and innovative image associated with Hard Seltzers.

Trends in the market: One of the key trends in the Guatemalan Hard Seltzer market is the introduction of local and regional flavors. While international brands initially dominated the market with their classic flavors such as lime and grapefruit, local breweries have started to experiment with indigenous fruits and flavors to cater to the unique preferences of Guatemalan consumers. This localization of flavors has helped to differentiate local brands and attract a loyal customer base. Another trend in the market is the increasing availability of low-alcohol and non-alcoholic Hard Seltzers. As health-consciousness continues to rise, many consumers are opting for beverages with lower alcohol content or no alcohol at all. This trend is driven by the desire to enjoy the refreshing taste of Hard Seltzers without the effects of high alcohol consumption. As a result, both local and international brands have started to introduce low-alcohol and non-alcoholic options to cater to this growing demand.

Local special circumstances: Guatemala, with its warm climate and vibrant tourism industry, provides a favorable environment for the growth of the Hard Seltzer market. The refreshing and light nature of Hard Seltzers makes them an ideal choice for consumers looking for a thirst-quenching beverage to enjoy in the tropical climate. Additionally, the country's tourism industry attracts a diverse range of international visitors who are familiar with the Hard Seltzer trend from their home countries, further driving the demand for these beverages.

Underlying macroeconomic factors: The growing middle class in Guatemala has contributed to the increasing demand for premium and innovative alcoholic beverages, including Hard Seltzers. As disposable incomes rise, consumers are willing to spend more on higher-quality products that offer unique experiences. This has created a favorable market for Hard Seltzer brands to introduce their products and attract a loyal customer base. Furthermore, the presence of multinational beverage companies in Guatemala has played a significant role in the development of the Hard Seltzer market. These companies have leveraged their distribution networks and marketing capabilities to introduce and promote Hard Seltzers to a wider audience. Their investments in advertising and promotional campaigns have helped raise awareness and generate interest among consumers, contributing to the growth of the market. In conclusion, the Hard Seltzer market in Guatemala is experiencing growth due to changing consumer preferences, the introduction of local flavors, the availability of low-alcohol and non-alcoholic options, the country's favorable climate and tourism industry, and the rising disposable incomes of the middle class. With these factors in play, the market is expected to continue expanding 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.