Hard Seltzer - Panama

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

Customer preferences: Panama, like many other countries, is witnessing a shift in customer preferences towards healthier and low-calorie beverage options. Consumers are becoming more health-conscious and are actively seeking alternatives to traditional alcoholic beverages that are high in sugar and calories. Hard Seltzers, with their low-calorie content and refreshing flavors, have quickly gained popularity among the health-conscious population in Panama.

Trends in the market: One of the key trends in the Hard Seltzer market in Panama is the increasing variety of flavors and brands available to consumers. As the market grows, both local and international brands are entering the scene, offering a wide range of flavors to cater to different tastes. This trend is driven by the demand for more diverse and unique options, as consumers seek new and exciting flavors in their beverages. Another trend in the market is the growing popularity of ready-to-drink (RTD) beverages. Hard Seltzers, being a convenient and ready-to-consume option, align well with the busy lifestyles of consumers in Panama. The ease of consumption, combined with the low-calorie content, makes Hard Seltzers an attractive choice for those looking for a refreshing and guilt-free drink.

Local special circumstances: Panama's tropical climate plays a significant role in the popularity of Hard Seltzers. With its hot and humid weather, consumers are constantly seeking refreshing and hydrating beverages. Hard Seltzers, with their light and bubbly nature, provide a perfect solution for quenching thirst and beating the heat. This local special circumstance further fuels the demand for Hard Seltzers in Panama.

Underlying macroeconomic factors: The growing economy and increasing disposable income in Panama have also contributed to the development of the Hard Seltzer market. As consumers' purchasing power increases, they are more willing to spend on premium and innovative beverage options. This economic growth has created a favorable environment for the introduction and growth of the Hard Seltzer market in Panama. In conclusion, the Hard Seltzer market in Panama is experiencing significant growth driven by changing customer preferences, the availability of a wide range of flavors, the convenience of ready-to-drink options, the tropical climate, and the country's growing economy. As consumers continue to prioritize health and seek refreshing alternatives, the demand for Hard Seltzers is expected to continue rising in Panama.

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.