Alcoholic Drinks - Southern Europe

The Alcoholic Drinks market in Southern Europe is experiencing significant growth and development. Customer preferences in Southern Europe are shifting towards higher quality and premium alcoholic beverages. Consumers are becoming more knowledgeable about the different types of alcoholic drinks and are willing to pay a premium for products that offer unique flavors and superior craftsmanship. This trend is particularly evident in countries such as Italy and Spain, where wine is a traditional and integral part of the culture. Wine producers in these countries are focusing on producing high-quality wines that showcase the unique characteristics of their respective regions. Additionally, there is a growing demand for craft beers and spirits, as consumers seek out unique and locally-produced options. Trends in the market also indicate a shift towards healthier and more sustainable alcoholic beverages. Southern European consumers are increasingly conscious of their health and wellness, and are seeking out options that align with their values. This has led to a rise in demand for organic and natural wines, as well as low-alcohol and alcohol-free options. Producers in the region are responding to this trend by offering a wider range of healthier alternatives, including wines made from organic grapes and beers with lower alcohol content. Local special circumstances in Southern Europe play a significant role in the development of the Alcoholic Drinks market. The region's rich history and cultural heritage have contributed to the popularity of traditional alcoholic beverages. For example, Italy is known for its wine production, while Greece is famous for its ouzo. These traditional drinks continue to be highly valued by consumers, and their production and consumption are deeply rooted in local traditions and customs. Additionally, Southern European countries have a strong café culture, where alcoholic beverages such as wine and beer are often enjoyed with meals or in social settings. This cultural context further drives the demand for alcoholic drinks in the region. Underlying macroeconomic factors also contribute to the development of the Alcoholic Drinks market in Southern Europe. The region's tourism industry plays a significant role in driving the demand for alcoholic beverages, as tourists often seek out local drinks and experiences. Southern European countries are popular tourist destinations, attracting millions of visitors each year. This influx of tourists creates a lucrative market for alcoholic drinks, as visitors seek to sample and purchase local products. Furthermore, the region's improving economic conditions have led to an increase in disposable income, allowing consumers to spend more on premium and higher-priced alcoholic beverages. In conclusion, the Alcoholic Drinks market in Southern Europe is experiencing growth and development driven by customer preferences for higher quality and premium products, a shift towards healthier and more sustainable options, local cultural traditions and special circumstances, and underlying macroeconomic factors such as tourism and improving economic conditions.

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.