Spirits - Australia & Oceania

The Spirits market in Australia & Oceania has been experiencing significant growth in recent years, driven by changing customer preferences and a number of local special circumstances. Customer preferences in the Spirits market in Australia & Oceania have been shifting towards premium and craft spirits. Consumers are increasingly seeking unique and high-quality products, and are willing to pay a premium for them. This trend is driven by a desire for more sophisticated and personalized drinking experiences, as well as a growing interest in supporting local and independent producers. As a result, there has been a rise in the popularity of small-batch and artisanal spirits, as well as a resurgence in traditional and heritage brands. One of the key trends in the Spirits market in Australia & Oceania is the increasing demand for gin. Gin has seen a surge in popularity in recent years, driven by the rise of craft distilleries and the introduction of new and innovative flavors. Consumers are drawn to the versatility of gin, as well as its association with botanicals and natural ingredients. This trend is particularly evident in Australia, where the gin market has experienced significant growth and is now home to a number of award-winning distilleries. Another trend in the Spirits market in Australia & Oceania is the growing interest in whisky. Whisky consumption has been on the rise in the region, driven by a combination of factors including the popularity of whisky-based cocktails, the influence of whisky tourism, and an increasing appreciation for aged and premium whiskies. Australia, in particular, has seen a surge in whisky production and consumption, with a number of local distilleries gaining international recognition for their products. Local special circumstances also play a role in shaping the Spirits market in Australia & Oceania. The region's diverse cultural heritage and proximity to Asia have influenced consumer preferences and the types of spirits available. For example, there is a strong demand for rum in the Pacific Islands, where it has a long-standing tradition and cultural significance. Additionally, the region's climate and natural resources have led to the production of unique spirits such as agricole rum and cachaça. Underlying macroeconomic factors also contribute to the development of the Spirits market in Australia & Oceania. Economic growth and rising disposable incomes have led to an increase in consumer spending on premium and luxury products, including spirits. The region's growing tourism industry has also played a role, with visitors from around the world seeking out local spirits as souvenirs and gifts. Furthermore, the influence of global trends and the availability of imported spirits have expanded the range of options for consumers in the market. In conclusion, the Spirits market in Australia & Oceania is experiencing growth and development due to changing customer preferences, local special circumstances, and underlying macroeconomic factors. The shift towards premium and craft spirits, the increasing demand for gin and whisky, and the influence of local culture and resources all contribute to the evolving market dynamics in the region.

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.