Spirits - Nepal | Statista Market Forecast

Revenue, at home (e.g., revenue generated in supermarkets and convenience stores) in the Spirits market amounts to US$94.2m in 2024.
Revenue, out-of-home (e.g., revenue generated in restaurants and bars) amounts to US$4.3m in 2024.
Revenue, combined amounts to US$98.5m in 2024.
The revenue, at home is expected to grow annually by 5.83% (CAGR 2024-2029).
In global comparison, most revenue, at home is generated China (US$146bn in 2024).
In relation to total population figures, the average revenue per capita, at home of US$3.02 are generated in 2024.
In the Spirits market, volume, at home is expected to amount to 7.3m L by 2024.
Volume, out-of-home is expected to amount to 192.9k L in 2024.
Volume, combined is expected to amount to 7.5m L in 2024.
The Spirits market is expected to show a volume growth, at home of -0.1% in 2025.0.
The average volume per person, at home in the Spirits market is expected to amount to 0.23L in 2024.

Definition:

The Spirits market includes alcoholic beverages that have been produced through the distillation of wine, fermented fruits, or grains. Due to the distillation process, the alcohol content of spirits is much higher than that of most wines and beers, typically ranging from 20% to 50% alcohol by volume (ABV).

Structure:

The Spirits market is divided into 8 markets:

The Whisky market encompasses spirits on a grain basis that have been aged in wooden casks for a duration of at least three years.
The Vodka market encompasses spirits based on grain and/or potatoes.
The Rum market encompasses spirits based on sugar cane.
The Gin market encompasses spirits based on juniper berries.
The Brandy market encompasses spirits based on fermented fruit juice.
The Tequila market encompasses spirits made primarily from the blue agave plant (Agave tequilana) in Mexico.
The Soju market encompasses the Korean distilled beverage, Soju, which is traditionally made from rice, barley, or sweet potatoes.
The Liqueurs & Other Spirits market encompasses all other spirits not previously mentioned as well as Ready-to-Drink (RTD) cocktails.

Additional information:

The market comprises revenue and average revenue per capita, volume and average volume per capita, price per liter, as well as sales channels. Per capita figures refer to a country’s or region’s whole population.

At-home market data covers retail sales via super- and hypermarkets, eCommerce, convenience stores, and similar sales channels. Out-of-home market data includes all sales in hotels and restaurants, sales by catering companies, as well as sales in cafés, bars, and similar hospitality service establishments. Combined numbers encompass both the at-home market and the out-of-home market. All prices are valued at retail selling prices, including all sales and consumption taxes.

Key players include Diageo (e.g., Johnnie Walker, Smirnoff, and Tanqueray), Pernod Ricard, and Kweichow Moutai.

Whisky, such as Jack Daniel's Tenessee Whiskey
Vodka, such as Absolut Vodka
Rum, such as Bacardi Rum
Gin, such as Ginebra San Miguel
Brandy, such as Ararat Brandy

Wine, such as Red Wine
Beer, such as Budweiser
Non-Alcoholic Spirits, such as Tanqueray 0.0

The Spirits market in Nepal has been experiencing significant growth in recent years.

Customer preferences: Customers in Nepal have shown a growing interest in spirits, particularly in premium and high-end products. This can be attributed to the increasing disposable income of the population and a desire for more sophisticated and luxurious experiences. Additionally, there is a trend towards healthier lifestyles, with consumers opting for spirits that are perceived as being of higher quality and made with natural ingredients.

Trends in the market: One of the key trends in the Spirits market in Nepal is the rising popularity of craft spirits. Consumers are seeking unique and artisanal products that offer a different flavor profile and are made with traditional techniques. This trend is driven by a desire for authenticity and a more personalized drinking experience. Craft spirits are often produced in small batches and are associated with a sense of exclusivity and craftsmanship. Another trend in the market is the increasing demand for flavored spirits. Consumers are looking for innovative and exciting flavors that can enhance their drinking experience. This trend is particularly prevalent among younger consumers who are more open to trying new and unconventional products. Flavored spirits offer a wide range of options, from fruity and sweet flavors to more complex and savory profiles.

Local special circumstances: Nepal is known for its rich cultural heritage and traditional practices. This has influenced the Spirits market in the country, with consumers showing a preference for spirits that are infused with local ingredients and flavors. For example, there is a growing demand for spirits made with herbs and spices that are native to Nepal. These local special circumstances contribute to the unique character of the Spirits market in Nepal and differentiate it from other markets in the region.

Underlying macroeconomic factors: The growth of the Spirits market in Nepal can be attributed to several macroeconomic factors. Firstly, the country has experienced steady economic growth in recent years, leading to an increase in disposable income. This has allowed consumers to spend more on luxury and premium products, including spirits. Secondly, there has been a rise in tourism in Nepal, with more international visitors coming to explore the country's natural beauty and cultural attractions. This has created a demand for high-quality spirits that can cater to the preferences of both local and foreign consumers. Finally, the government has implemented policies to promote the growth of the alcohol industry, including the relaxation of regulations and the introduction of incentives for producers. These factors have created a favorable environment for the development of the Spirits market in Nepal.

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.

This report presents a comprehensive analysis and additional information on the Consumer market, in a PDF format.

The term “spirits” refers to an alcoholic beverage that has been distilled, contains no added sugar, and has at least 20 percent alcohol by volume. The term is derived from the medieval practice of alchemy and refers to the essential liquid element obtained from a substance through distillation, the “spirit” of the substance, so to speak. Popular spirits include whiskey, rum, vodka, tequila, and gin, among others.