Hard Seltzer - Nepal

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

Customer preferences: Customers in Nepal are increasingly drawn to the refreshing and low-calorie nature of Hard Seltzers. With a growing health consciousness and a desire for lighter alcoholic beverages, consumers are gravitating towards this trendy alternative. The convenience of ready-to-drink cans also appeals to the busy lifestyles of Nepalese consumers.

Trends in the market: The Hard Seltzer market in Nepal is witnessing a surge in product offerings and flavors. Domestic and international brands are introducing a wide range of flavors to cater to different consumer preferences. This variety allows consumers to experiment with different tastes and find their favorites. In addition, brands are also focusing on innovative marketing strategies to attract consumers, such as collaborations with local influencers and celebrities.

Local special circumstances: Nepal's young and urban population plays a significant role in the growth of the Hard Seltzer market. As more young Nepalese adults enter the legal drinking age and move to urban areas, the demand for trendy and convenient alcoholic beverages like Hard Seltzers increases. Additionally, the tourism industry in Nepal contributes to the market's growth, as tourists from around the world often seek out unique and local alcoholic beverages.

Underlying macroeconomic factors: The economic growth and increasing disposable income in Nepal are driving the development of the Hard Seltzer market. As consumers have more purchasing power, they are able to afford premium and imported alcoholic beverages like Hard Seltzers. Furthermore, the influence of Western culture and lifestyle trends also plays a role in the market's growth, as Hard Seltzers are seen as a fashionable and modern choice among consumers. Overall, the Hard Seltzer market in Nepal is experiencing a significant boost in popularity due to customer preferences for low-calorie and convenient alcoholic beverages. The market is characterized by a wide range of flavors and innovative marketing strategies. The young and urban population, along with the growth of the tourism industry, contribute to the market's expansion. The economic growth and increasing disposable income in Nepal also play a crucial role in driving the development of the Hard Seltzer market.

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.