Alcoholic Drinks - Papua New Guinea

The Alcoholic Drinks market in Papua New Guinea has seen significant development in recent years, driven by changing customer preferences, emerging trends in the market, local special circumstances, and underlying macroeconomic factors. Customer preferences in Papua New Guinea have shifted towards premium and craft alcoholic beverages. Consumers are increasingly seeking unique and high-quality products that offer a differentiated experience. This trend is in line with global and regional market preferences, where craft and premium alcoholic drinks have gained popularity. Customers are willing to pay a premium for these products, as they value the craftsmanship, authenticity, and taste that they offer. Trends in the market indicate a growing demand for locally produced alcoholic drinks. Papua New Guinea has a rich cultural heritage, and consumers are showing a preference for traditional and indigenous beverages. This trend can be attributed to a desire to support local businesses and preserve cultural traditions. Additionally, the popularity of locally sourced ingredients and sustainable production practices has contributed to the growth of local alcoholic beverage brands. Local special circumstances in Papua New Guinea have also influenced the development of the Alcoholic Drinks market. The country has a diverse population with different cultural and religious beliefs. As a result, there are certain restrictions and regulations on the sale and consumption of alcoholic beverages. This has created a unique market environment, where companies need to navigate and comply with local laws and regulations. Underlying macroeconomic factors have played a role in shaping the Alcoholic Drinks market in Papua New Guinea. The country has experienced steady economic growth in recent years, resulting in an increase in disposable income and purchasing power. This has allowed consumers to spend more on discretionary items such as alcoholic beverages. Additionally, changing demographics, urbanization, and a growing middle class have contributed to the expansion of the market. In conclusion, the Alcoholic Drinks market in Papua New Guinea is developing in response to changing customer preferences, emerging trends, local special circumstances, and underlying macroeconomic factors. The demand for premium and craft beverages, the preference for locally produced drinks, the influence of cultural and religious factors, and the country's economic growth all contribute to the growth and evolution of the market.

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.