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Key regions: Worldwide, Philippines, India, China, United Kingdom
The Wine market in Eastern Europe has been experiencing significant growth in recent years. Customer preferences in the region have been shifting towards wine consumption, with an increasing demand for both domestic and imported wines. Eastern European consumers are becoming more knowledgeable about different types and varieties of wine, and are willing to explore new options. They are also showing a preference for higher quality wines, with a focus on taste and origin. Trends in the market indicate that Eastern European countries are increasingly producing their own wines, with a particular emphasis on indigenous grape varieties. This has led to a rise in the popularity of local wines, as consumers appreciate the unique flavors and characteristics that these wines offer. However, imported wines from other European countries, such as Italy and France, continue to be in high demand, especially among more affluent consumers. Local special circumstances in Eastern Europe have played a role in the development of the wine market. The region has a long history of wine production, with many countries having a rich winemaking tradition. This has created a strong cultural affinity towards wine, and has contributed to the growing interest in wine consumption. Additionally, the relatively low cost of production in Eastern Europe has made it an attractive destination for wine producers, both domestic and international, looking to expand their operations. Underlying macroeconomic factors have also influenced the growth of the wine market in Eastern Europe. The region has experienced steady economic growth in recent years, leading to an increase in disposable income and consumer spending power. This has allowed consumers to indulge in luxury goods, such as wine, and has contributed to the rising demand for wine in the region. Furthermore, the growing tourism industry in Eastern Europe has also played a role in the development of the wine market, as tourists are often eager to explore and experience the local wine culture. In conclusion, the Wine market in Eastern Europe is experiencing growth due to shifting customer preferences, trends in the market, local special circumstances, and underlying macroeconomic factors. As consumers become more knowledgeable and discerning about wine, the demand for both domestic and imported wines is expected to continue to rise. With a strong cultural affinity towards wine and favorable economic conditions, Eastern Europe is poised to become a prominent player in the global 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)