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Key regions: China, Singapore, Australia, Philippines, Worldwide
The Hard Seltzer market in Nordics has been experiencing significant growth in recent years.
Customer preferences: Hard Seltzer, a low-calorie alcoholic beverage made from carbonated water, alcohol, and fruit flavors, has gained popularity among consumers in the Nordics. This can be attributed to the increasing health consciousness and preference for lighter, refreshing drinks among the population. The Nordic consumers are known for their love of natural and organic products, and the rise of Hard Seltzer aligns with this trend.
Trends in the market: One of the key trends in the Hard Seltzer market in the Nordics is the growing demand for variety and innovation. Consumers are constantly seeking new flavors and experiences, leading to the introduction of a wide range of fruit flavors in the market. This trend is driven by the desire for novelty and the willingness to experiment with different taste profiles. Additionally, the convenience factor of ready-to-drink canned beverages has also contributed to the popularity of Hard Seltzer among consumers in the Nordics.
Local special circumstances: The Nordic countries have a strong drinking culture, with consumers often opting for alcoholic beverages during social gatherings and celebrations. However, there is also a growing trend towards moderation and responsible drinking. Hard Seltzer, with its lower alcohol content and lower calorie count compared to traditional alcoholic beverages, appeals to consumers who want to enjoy a drink without the guilt or the negative health effects associated with heavier alcoholic beverages. This special circumstance has created a niche market for Hard Seltzer in the Nordics.
Underlying macroeconomic factors: The strong economy and high disposable income levels in the Nordics have also contributed to the growth of the Hard Seltzer market. Consumers have more purchasing power to spend on premium and innovative products, and this has created a favorable environment for the introduction and expansion of Hard Seltzer brands in the region. Additionally, the increasing trend of online shopping and e-commerce platforms has made it easier for consumers to access and purchase Hard Seltzer products, further driving the market growth. In conclusion, the Hard Seltzer market in the Nordics is experiencing growth due to the changing customer preferences towards healthier and lighter alcoholic beverages, the demand for variety and innovation, the special circumstances of the Nordic drinking culture, and the underlying macroeconomic factors such as strong economy and high disposable income levels. With these factors in play, the Hard Seltzer market in the Nordics is expected to continue its upward trajectory 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.
Mon - Fri, 9am - 6pm (EST)
Mon - Fri, 9am - 5pm (SGT)
Mon - Fri, 10:00am - 6:00pm (JST)
Mon - Fri, 9:30am - 5pm (GMT)
Mon - Fri, 9am - 6pm (EST)