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Key regions: Worldwide, Philippines, India, China, United Kingdom
The Wine market in Austria has been experiencing significant growth in recent years, driven by changing customer preferences, emerging trends, and local special circumstances.
Customer preferences: Austrian consumers have shown a growing preference for wine over other alcoholic beverages. This can be attributed to the increasing awareness of the health benefits associated with moderate wine consumption, as well as the cultural significance of wine in Austrian society. Wine is often seen as a sophisticated and elegant choice, and consumers are willing to pay a premium for high-quality wines.
Trends in the market: One of the key trends in the Austrian wine market is the growing demand for organic and biodynamic wines. Consumers are becoming more conscious of the environmental impact of their purchasing decisions and are seeking out wines that are produced using sustainable practices. This trend is driven by a desire for healthier and more natural products, as well as a preference for supporting local and small-scale producers. Another trend in the market is the increasing popularity of Austrian wines on the international stage. Austrian wines have gained recognition for their unique flavors and high quality, particularly in the white wine category. This has led to an increase in exports, as well as a growing interest from international tourists visiting Austria. The country's wine regions, such as Burgenland and Wachau, have become popular destinations for wine tourism.
Local special circumstances: Austria's wine industry benefits from a combination of favorable climate and diverse terroir. The country's cool climate and mineral-rich soils create ideal conditions for the cultivation of grapes, particularly white varieties such as Grüner Veltliner and Riesling. These unique growing conditions contribute to the distinctive flavors and characteristics of Austrian wines, making them highly sought after by wine enthusiasts. Furthermore, Austria has a long-standing tradition of winemaking, with a history dating back over 2,000 years. This tradition, combined with a focus on quality and craftsmanship, has helped to establish Austria as a respected wine-producing nation. Local winemakers take pride in their heritage and are committed to producing wines of the highest standards.
Underlying macroeconomic factors: The growth of the wine market in Austria is also influenced by macroeconomic factors such as disposable income levels and tourism. As the economy continues to grow and incomes rise, consumers have more purchasing power and are willing to spend more on premium wines. Additionally, the influx of tourists, both domestic and international, has contributed to the increased demand for Austrian wines. Tourists often seek out local products and experiences, including wine tastings and vineyard visits, which further boosts the wine market. In conclusion, the Wine market in Austria is experiencing growth due to changing customer preferences, emerging trends such as the demand for organic and biodynamic wines, and the country's favorable climate and winemaking tradition. These factors, combined with underlying macroeconomic factors such as rising disposable incomes and tourism, have contributed to the success and development of the Austrian wine 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.
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)