Hard Seltzer - Nicaragua

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

Customer preferences: Consumers in Nicaragua are increasingly seeking out lighter and healthier alcoholic beverages, and Hard Seltzers fit this trend perfectly. With lower calorie and sugar content compared to traditional alcoholic beverages, Hard Seltzers have gained popularity among health-conscious individuals looking for a refreshing and guilt-free drink. Furthermore, the wide variety of flavors offered by Hard Seltzer brands appeals to the adventurous palates of Nicaraguan consumers.

Trends in the market: One of the key trends in the Hard Seltzer market in Nicaragua is the entry of international brands. As global demand for Hard Seltzers continues to rise, international companies have recognized the opportunity to expand their market presence in Nicaragua. These brands bring with them established reputations and marketing strategies, which help to further popularize Hard Seltzers among Nicaraguan consumers. Another trend in the market is the emergence of local craft Hard Seltzer brands. These brands cater to the growing demand for artisanal and locally-produced beverages. Nicaraguan consumers appreciate the unique flavors and the sense of supporting local businesses that these craft Hard Seltzers offer. This trend reflects a broader global movement towards supporting local and sustainable products.

Local special circumstances: Nicaragua's warm climate and vibrant tourism industry have contributed to the growth of the Hard Seltzer market. The refreshing and light nature of Hard Seltzers makes them an ideal choice for consumers looking to cool down and relax in the tropical weather. Additionally, the country's tourism industry attracts a diverse range of visitors, including international tourists who are already familiar with the concept of Hard Seltzers. This exposure to the beverage abroad has increased demand for Hard Seltzers among both locals and tourists in Nicaragua.

Underlying macroeconomic factors: The growth of the Hard Seltzer market in Nicaragua can also be attributed to the country's improving economy and rising disposable incomes. As the economy continues to develop, more Nicaraguans have the means to indulge in premium and trendy alcoholic beverages. This has created a favorable environment for the expansion of the Hard Seltzer market, as consumers are willing to spend more on innovative and healthier beverage options. In conclusion, the Hard Seltzer market in Nicaragua is experiencing growth due to changing consumer preferences, the entry of international brands, the emergence of local craft brands, the country's warm climate and vibrant tourism industry, as well as the improving economy and rising disposable incomes. These factors have combined to create a thriving market for Hard Seltzers in Nicaragua.

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.