Contact
Mon - Fri, 9am - 6pm (EST)
Mon - Fri, 9am - 5pm (SGT)
Mon - Fri, 10:00am - 6:00pm (JST)
Mon - Fri, 9:30am - 5pm (GMT)
Mon - Fri, 9am - 6pm (EST)
Key regions: United States, United Kingdom, Worldwide, United Kingdom, Australia
The Spirits market in South Africa has been experiencing steady growth in recent years. Customer preferences for premium and craft spirits, as well as the increasing popularity of cocktails, have contributed to this development. Additionally, local special circumstances such as the country's rich history of wine production and the growing tourism industry have also played a role in shaping the market. Customer preferences in the South African Spirits market have shifted towards premium and craft offerings. Consumers are increasingly willing to spend more on high-quality spirits, seeking unique flavor profiles and artisanal production methods. This trend is in line with global market patterns, as consumers worldwide are becoming more discerning and knowledgeable about spirits. In South Africa, this preference for premium and craft spirits is also driven by the growing middle class and their increasing disposable income. Another factor driving the growth of the Spirits market in South Africa is the rising popularity of cocktails. Cocktails have become a fashionable and social trend, with consumers enjoying the experience of trying new and creative drink combinations. This has led to increased demand for a wide range of spirits, including vodka, gin, rum, and tequila, which are essential ingredients in many popular cocktails. The growing cocktail culture is also supported by the proliferation of bars and restaurants that specialize in mixology and offer a diverse selection of spirits and cocktails. In addition to customer preferences, local special circumstances have also contributed to the development of the Spirits market in South Africa. The country has a rich history of wine production, which has created a culture of appreciation for alcoholic beverages. This culture extends to spirits, with consumers showing a keen interest in exploring different types of spirits and learning about their production processes. Furthermore, South Africa's tourism industry has been growing steadily, attracting international visitors who are eager to experience the country's diverse culinary and beverage offerings. This has created a demand for locally produced spirits, as tourists seek to sample and bring home unique souvenirs. Underlying macroeconomic factors have also played a role in the growth of the Spirits market in South Africa. The country's economy has been relatively stable in recent years, with a growing middle class and increasing consumer purchasing power. This has allowed consumers to indulge in higher-priced spirits and explore new products. Furthermore, the government has implemented favorable policies to support the growth of the alcohol industry, including the reduction of excise duties on certain spirits. These policies have encouraged investment in the sector and stimulated market competition, leading to a wider variety of spirits available to consumers. Overall, the Spirits market in South Africa is developing in response to customer preferences for premium and craft spirits, the rising popularity of cocktails, local special circumstances such as the country's wine production history and growing tourism industry, and underlying macroeconomic factors such as a stable economy and favorable government policies. As these trends continue to shape the market, it is expected that the Spirits sector in South Africa will continue to grow and diversify in the coming years.
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.
Mon - Fri, 9am - 6pm (EST)
Mon - Fri, 9am - 5pm (SGT)
Mon - Fri, 10:00am - 6:00pm (JST)
Mon - Fri, 9:30am - 5pm (GMT)
Mon - Fri, 9am - 6pm (EST)