Hard Seltzer - Western Asia

The Hard Seltzer market in Western Asia has been experiencing significant growth in recent years. Customer preferences in the region have played a key role in driving this growth. Consumers in Western Asia are increasingly looking for healthier beverage options, and the low calorie and low sugar content of Hard Seltzers make them an attractive choice. Additionally, the refreshing and light nature of Hard Seltzers appeals to consumers in the region, particularly in hot climates. Trends in the market have also contributed to its development. Western Asia has seen a rise in the popularity of alcoholic beverages that are easy to consume and have a lower alcohol content. Hard Seltzers fit this trend perfectly, as they offer a lower alcohol alternative to traditional spirits and cocktails. The convenience of ready-to-drink cans has also made Hard Seltzers a popular choice among consumers in the region. Local special circumstances have further fueled the growth of the Hard Seltzer market in Western Asia. The region has a large young population who are increasingly experimenting with new and trendy alcoholic beverages. Social media and influencer culture have played a significant role in promoting the consumption of Hard Seltzers among this demographic. Moreover, the tourism industry in Western Asia has been booming, attracting visitors from around the world who are interested in trying local products, including Hard Seltzers. Underlying macroeconomic factors have also contributed to the development of the Hard Seltzer market in Western Asia. Economic growth and rising disposable incomes have made consumers more willing to spend on premium and imported products. This has created a favorable environment for the entry of international Hard Seltzer brands into the market. Additionally, the increasing urbanization and Westernization of the region have led to a shift in consumer preferences towards more modern and trendy beverages like Hard Seltzers. In conclusion, the Hard Seltzer market in Western Asia is experiencing significant growth due to customer preferences for healthier and refreshing beverages, trends in the market towards lower alcohol and convenient options, local special circumstances such as the influence of social media and tourism, and underlying macroeconomic factors such as economic growth and changing consumer preferences.

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.