Alcoholic Drinks - Peru

The Alcoholic Drinks market in Peru has been experiencing significant growth in recent years.

Customer preferences: Peruvian consumers have shown a growing interest in alcoholic drinks, particularly in spirits such as Pisco and rum. Pisco, a grape brandy that is the national drink of Peru, has been gaining popularity both domestically and internationally. The unique flavor and versatility of Pisco have made it a favorite choice among consumers. Additionally, rum, which is also produced locally, has seen increased demand due to its smooth taste and affordability.

Trends in the market: One of the key trends in the Alcoholic Drinks market in Peru is the rise of craft beer. Craft breweries have been popping up across the country, offering a wide range of unique and flavorful beers. This trend reflects a shift in consumer preferences towards more premium and artisanal products. Craft beer has become a popular choice among millennials who are looking for new and exciting flavors. Another trend in the market is the increasing demand for low-alcohol and non-alcoholic beverages. As health and wellness become more important to consumers, there has been a growing interest in alternatives to traditional alcoholic drinks. This trend is driven by a desire for healthier options and a shift towards moderation. Non-alcoholic beers and mocktails have gained popularity as they offer the same social experience without the negative effects of alcohol.

Local special circumstances: Peru has a rich cultural heritage when it comes to alcoholic drinks. Pisco, as mentioned earlier, is deeply rooted in Peruvian culture and has a strong association with national identity. This cultural significance has contributed to the popularity of Pisco both domestically and internationally. Additionally, Peru's diverse geography and climate make it an ideal location for the production of a variety of alcoholic beverages, including wine, beer, and spirits.

Underlying macroeconomic factors: Peru's growing economy and rising disposable incomes have played a significant role in driving the growth of the Alcoholic Drinks market. As consumers have more purchasing power, they are able to afford higher-quality and more premium alcoholic beverages. Additionally, the tourism industry in Peru has been booming, attracting visitors from around the world who are interested in experiencing the local culture and cuisine, including the country's alcoholic drinks. In conclusion, the Alcoholic Drinks market in Peru is experiencing growth due to a combination of factors including changing consumer preferences, the rise of craft beer, the demand for low-alcohol and non-alcoholic beverages, cultural significance, and underlying macroeconomic factors. These trends and developments reflect the evolving preferences and behaviors of Peruvian consumers, as well as the unique characteristics of the local 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.