Alcoholic Drinks - Southern Asia

The Alcoholic Drinks market in Southern Asia is experiencing significant growth and development, driven by changing customer preferences, emerging trends in the market, local special circumstances, and underlying macroeconomic factors. Customer preferences in the Alcoholic Drinks market in Southern Asia are shifting towards premium and craft beverages. Consumers are increasingly seeking unique and high-quality products, and are willing to pay a premium for them. This trend is driven by the growing middle class in the region, who have higher disposable incomes and are looking for more sophisticated and indulgent drinking experiences. Additionally, there is a rising interest in health and wellness, leading to an increased demand for low-alcohol or alcohol-free options. Trends in the Alcoholic Drinks market in Southern Asia include the rise of local craft breweries and distilleries. This trend is fueled by the desire for unique and authentic products, as well as the growing popularity of craft beer and spirits globally. Local breweries and distilleries are capitalizing on this trend by producing small-batch, artisanal beverages that reflect the local culture and flavors. This trend is also supported by the increasing number of bars and restaurants that are focusing on craft beverages, providing a platform for these local producers to showcase their products. Another trend in the market is the growing popularity of wine consumption in Southern Asia. Wine is increasingly seen as a sophisticated and fashionable drink, and is gaining traction among younger consumers. This trend is driven by factors such as increasing exposure to international cuisines and lifestyles, as well as the influence of social media and celebrity endorsements. Wine consumption is also supported by the growing availability and affordability of imported wines in the region. Local special circumstances in Southern Asia, such as cultural and religious norms, also impact the Alcoholic Drinks market. Some countries in the region have strict regulations on alcohol consumption, which can limit the growth potential of the market. However, there are also countries where alcohol consumption is deeply ingrained in the culture and social fabric, leading to a thriving market. These local special circumstances shape the preferences and behaviors of consumers, and influence the types of alcoholic beverages that are popular in each country. Underlying macroeconomic factors play a crucial role in the development of the Alcoholic Drinks market in Southern Asia. Factors such as population growth, urbanization, and economic development contribute to the expansion of the market. As countries in the region experience economic growth and rising living standards, consumers have more disposable income to spend on discretionary items such as alcoholic beverages. Additionally, the increasing urbanization in Southern Asia has led to the growth of bars, restaurants, and entertainment venues, creating more opportunities for the consumption of alcoholic drinks.

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.