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Key regions: Worldwide, United States, Russia, United Kingdom, India
The Alcoholic Drinks market in Paraguay has been experiencing significant growth in recent years. Customer preferences have shifted towards premium and craft alcoholic beverages, leading to an increase in the demand for higher quality products. Additionally, there has been a growing interest in locally produced alcoholic drinks, as consumers seek to support domestic industries. These trends are driven by various factors, including changing consumer tastes, a desire for unique and authentic experiences, and an overall improvement in the country's economic conditions.
Customer preferences: In Paraguay, customer preferences have evolved from traditional, mass-produced alcoholic beverages to more premium and craft options. This shift can be attributed to several factors. Firstly, consumers are becoming more discerning and are willing to pay a premium for higher quality products. They are seeking unique and authentic experiences, and are willing to explore a wider range of alcoholic beverages to satisfy their tastes. Secondly, there is a growing interest in supporting local industries and promoting domestic products. This has led to an increase in the consumption of locally produced alcoholic drinks, as consumers perceive them to be of higher quality and more aligned with their cultural identity.
Trends in the market: One of the key trends in the Alcoholic Drinks market in Paraguay is the rise of craft beer. Craft beer has gained popularity among consumers who are looking for new and innovative flavors. Microbreweries and craft beer bars have emerged in major cities, offering a wide selection of unique and locally brewed beers. This trend is driven by the desire for variety and the demand for high-quality, artisanal products. Another trend in the market is the growing demand for premium spirits, such as whiskey and gin. Paraguayans are increasingly interested in exploring different types of spirits and are willing to pay a premium for imported brands. This trend is driven by a desire for sophistication and a taste for international flavors. The availability of a wider range of premium spirits in the market has also contributed to the growth of this segment.
Local special circumstances: Paraguay has a rich cultural heritage, and this plays a significant role in shaping the local alcoholic drinks market. Traditional drinks such as caña, a sugarcane-based spirit, and tereré, a cold herbal infusion, continue to be popular among consumers. These drinks are deeply ingrained in Paraguayan culture and are often consumed during social gatherings and special occasions. The presence of these local specialties adds a unique flavor to the market and contributes to the overall diversity of alcoholic beverages available.
Underlying macroeconomic factors: The growth of the Alcoholic Drinks market in Paraguay is also influenced by underlying macroeconomic factors. The country has experienced sustained economic growth in recent years, which has led to an increase in disposable income and consumer spending. As a result, consumers have more purchasing power and are able to afford higher-priced alcoholic beverages. Additionally, the government has implemented favorable policies to promote the growth of the alcoholic drinks industry, such as reducing import tariffs on certain products. These factors have created a conducive environment for the development of the market and have attracted both domestic and international players to invest in the sector.
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)