Spirits - Slovenia

The Spirits market in Slovenia has been experiencing steady growth in recent years.

Customer preferences: Slovenian consumers have shown a growing interest in premium and craft spirits. They are increasingly seeking unique and high-quality products that offer a distinct flavor profile. This shift in consumer preferences can be attributed to the rising disposable income and changing lifestyles of Slovenian consumers. Additionally, there is a growing trend of consumers opting for spirits with lower alcohol content, as health and wellness concerns become more prominent.

Trends in the market: One of the key trends in the Slovenian Spirits market is the increasing popularity of locally produced spirits. Slovenian consumers are becoming more aware of and appreciative of their local heritage, leading to a rise in demand for spirits that are made using traditional Slovenian ingredients and production methods. This trend is also driven by the growing interest in supporting local businesses and the desire to promote sustainability. Another notable trend in the market is the rise of flavored spirits. Slovenian consumers are increasingly looking for spirits that offer unique and interesting flavors, such as fruit-infused vodkas or botanical gins. This trend is in line with the global shift towards innovative and experiential products, as consumers seek new and exciting taste experiences.

Local special circumstances: Slovenia's geographic location and cultural influences play a significant role in shaping the Spirits market. The country's proximity to Italy and Austria has resulted in a strong influence of Italian and Austrian spirits, such as grappa and schnapps, in the Slovenian market. This cross-cultural exchange has contributed to the diversity of spirits available in Slovenia and has influenced consumer preferences. Furthermore, Slovenia's long-standing tradition of winemaking has also had an impact on the Spirits market. Slovenian consumers have a deep appreciation for quality alcoholic beverages, and this extends to spirits as well. The country's winemaking expertise has translated into a growing interest in spirits that are crafted with the same level of precision and attention to detail.

Underlying macroeconomic factors: The growth of the Spirits market in Slovenia can be attributed to several macroeconomic factors. The country has experienced steady economic growth in recent years, leading to an increase in disposable income and consumer spending. This has allowed consumers to afford higher-priced spirits and indulge in premium offerings. Additionally, Slovenia's thriving tourism industry has also contributed to the growth of the Spirits market. The country attracts a significant number of international tourists, who are often eager to explore and experience the local food and beverage culture. This has created a demand for Slovenian spirits, both within the domestic market and as souvenirs for tourists to take back home. In conclusion, the Spirits market in Slovenia is witnessing growth due to changing customer preferences, including a focus on premium and craft spirits, an interest in local and unique flavors, and a demand for lower-alcohol options. The market is also influenced by local special circumstances, such as cultural influences from neighboring countries and the country's winemaking tradition. The underlying macroeconomic factors, including economic growth and a thriving tourism industry, further contribute to the development of the market.

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.