Alcoholic Drinks - Turkmenistan

The Alcoholic Drinks market in Turkmenistan is experiencing steady growth due to changing customer preferences, emerging trends, and local special circumstances.

Customer preferences: Turkmenistan has traditionally been a country with a strong drinking culture, and alcoholic drinks are an important part of social gatherings and celebrations. However, in recent years, there has been a shift in customer preferences towards higher quality and premium alcoholic drinks. Consumers are becoming more discerning and are willing to pay a premium for products that offer superior taste and craftsmanship. This has led to an increase in the demand for imported alcoholic drinks, especially those from well-known international brands.

Trends in the market: One of the key trends in the Alcoholic Drinks market in Turkmenistan is the growing popularity of craft beers and artisanal spirits. Consumers are increasingly looking for unique and locally produced products that offer a distinct flavor profile. Craft breweries and distilleries have emerged to cater to this demand, offering a wide range of innovative and high-quality beverages. This trend is also driven by the rising interest in small-scale production and the desire to support local businesses. Another trend in the market is the growing demand for low-alcohol and non-alcoholic beverages. Health-conscious consumers are seeking alternatives to traditional alcoholic drinks, and companies are responding by developing a variety of options that offer the same taste experience without the negative health effects. This trend is also influenced by changing social norms and a desire to promote responsible drinking.

Local special circumstances: Turkmenistan has a unique set of circumstances that contribute to the development of the Alcoholic Drinks market. The country has a young and growing population, with a significant portion of the population being of legal drinking age. This creates a large consumer base for alcoholic drinks and provides opportunities for market expansion. Additionally, Turkmenistan has a strong tourism industry, attracting visitors from around the world. Tourists often seek out local alcoholic beverages as a way to experience the culture and traditions of the country. This presents an opportunity for both domestic and international alcoholic drinks producers to showcase their products and gain exposure to a global audience.

Underlying macroeconomic factors: The growth of the Alcoholic Drinks market in Turkmenistan is also influenced by underlying macroeconomic factors. The country has experienced stable economic growth in recent years, leading to an increase in disposable income and consumer spending. As a result, consumers have more purchasing power and are able to afford higher-priced alcoholic drinks. Furthermore, the government has implemented policies to promote domestic production and reduce dependence on imports. This has led to the growth of local breweries and distilleries, which contribute to the overall development of the Alcoholic Drinks market. The government's support for the industry, combined with favorable tax policies, has created a conducive environment for businesses to thrive. In conclusion, the Alcoholic Drinks market in Turkmenistan is developing due to changing customer preferences, emerging trends, local special circumstances, and underlying macroeconomic factors. Consumers are seeking higher quality and premium products, leading to an increase in the demand for imported alcoholic drinks. The market is also witnessing the popularity of craft beers and artisanal spirits, as well as the demand for low-alcohol and non-alcoholic beverages. The country's young and growing population, strong tourism industry, stable economic growth, and government support for domestic production are all contributing to the growth 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.