Spirits - Moldova

The Spirits market in Moldova has been experiencing steady growth in recent years, driven by changing customer preferences, emerging trends in the market, local special circumstances, and underlying macroeconomic factors.

Customer preferences: In Moldova, there is a growing preference for premium and craft spirits among consumers. This trend can be attributed to the increasing disposable income and changing lifestyles of the population. Consumers are becoming more discerning and are willing to pay a premium for high-quality spirits that offer unique flavors and experiences. Additionally, there is a rising interest in locally produced spirits, as consumers seek to support domestic brands and explore the rich heritage and traditions of Moldova.

Trends in the market: One of the key trends in the Spirits market in Moldova is the growing popularity of artisanal and craft spirits. This trend reflects a shift towards smaller, independent producers who focus on quality and craftsmanship. Craft spirits are often seen as more authentic and offer a wider range of flavors and styles compared to mass-produced brands. This trend is also influenced by the global movement towards supporting local businesses and sustainable practices. As a result, we can expect to see more artisanal distilleries and microbreweries emerging in Moldova, catering to the demand for unique and high-quality spirits. Another trend in the market is the increasing demand for premium spirits, such as aged whiskies, high-end vodkas, and luxury liqueurs. This trend is driven by the growing affluence of the population and the desire to indulge in luxury products. Premium spirits are often associated with prestige and exclusivity, and consumers are willing to pay a premium for these products. As a result, we can expect to see more premium spirits brands entering the Moldovan market, offering a wide range of luxury options to cater to the discerning consumer.

Local special circumstances: Moldova has a long history of winemaking, and this heritage has influenced the Spirits market in the country. Many spirits in Moldova are made from locally grown grapes and are produced using traditional methods. This gives them a unique flavor profile and sets them apart from spirits produced in other regions. The local special circumstances, such as the abundance of vineyards and the expertise in winemaking, contribute to the development of the Spirits market in Moldova.

Underlying macroeconomic factors: The economic growth and stability of Moldova play a significant role in the development of the Spirits market. As the economy continues to grow, the purchasing power of consumers increases, allowing them to spend more on discretionary items such as spirits. Additionally, the government's efforts to promote tourism and attract foreign investment have also contributed to the growth of the Spirits market. The influx of tourists and expatriates has created a demand for international spirits and has encouraged the development of bars, restaurants, and hotels that offer a wide selection of spirits. In conclusion, the Spirits market in Moldova is experiencing growth due to changing customer preferences towards premium and craft spirits, emerging trends in the market, local special circumstances such as the winemaking heritage, and underlying macroeconomic factors such as economic growth and government initiatives. This presents opportunities for both domestic and international spirits brands to cater to the evolving needs and preferences of Moldovan consumers.

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.