Alcoholic Drinks - Northern Europe

The Alcoholic Drinks market in Northern Europe is experiencing significant growth and development. Customer preferences, trends in the market, local special circumstances, and underlying macroeconomic factors all contribute to this positive trajectory. Customer preferences in Northern Europe have shifted towards more premium and craft alcoholic beverages. Consumers are increasingly seeking unique and high-quality products, driven by a desire for authenticity and a taste for new experiences. This has led to a rise in the popularity of craft beers, artisanal spirits, and small-batch wines. Additionally, there is a growing interest in organic and sustainable alcoholic drinks, reflecting a broader trend towards conscious consumption. Trends in the market further support the growth of the Alcoholic Drinks industry in Northern Europe. One notable trend is the increasing popularity of low-alcohol and non-alcoholic beverages. Health-conscious consumers are opting for alternatives to traditional alcoholic drinks, such as alcohol-free beers, mocktails, and botanical spirits. This trend is driven by a desire for healthier lifestyles and a growing awareness of the negative effects of excessive alcohol consumption. Another trend in the market is the rise of e-commerce and online sales. The convenience and accessibility of online platforms have made it easier for consumers to explore and purchase a wide variety of alcoholic beverages. This shift towards online shopping has opened up new opportunities for smaller and niche producers to reach a broader customer base, both domestically and internationally. Local special circumstances in Northern Europe also contribute to the development of the Alcoholic Drinks market. The region has a rich tradition of brewing and distilling, with countries like Germany, Belgium, and Scotland renowned for their beer and whisky production. This heritage and expertise have created a strong foundation for the industry to thrive and innovate. Furthermore, the region's strict regulations and quality standards ensure that consumers have access to safe and high-quality products. Underlying macroeconomic factors play a significant role in the growth of the Alcoholic Drinks market in Northern Europe. The region has a stable and prosperous economy, with high disposable incomes and a strong culture of socializing and dining out. This provides a favorable environment for the consumption of alcoholic beverages, as people are willing to spend on premium products and experiences. Additionally, the region's tourism industry attracts a large number of international visitors, who often seek out local alcoholic drinks as part of their cultural experience. Overall, the Alcoholic Drinks market in Northern Europe is developing in response to changing customer preferences, emerging trends, local special circumstances, and favorable macroeconomic factors. The industry is characterized by a focus on premium and craft products, an increasing demand for low-alcohol and non-alcoholic options, the rise of e-commerce, a rich brewing and distilling heritage, and a strong economy. These factors contribute to a vibrant and dynamic market that is poised for continued growth and innovation.

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.