Wine - Lithuania

The Wine market in Lithuania has been experiencing significant growth in recent years, driven by changing customer preferences, emerging trends, and favorable local circumstances. Customer preferences in the Wine market in Lithuania have been shifting towards higher quality and more diverse products. Consumers are increasingly looking for wines with unique flavors and characteristics, as well as wines from different regions and grape varieties. This trend is in line with the global wine market, where consumers are becoming more knowledgeable and adventurous in their wine choices. Additionally, there is a growing interest in organic and natural wines, as well as wines with lower alcohol content. Trends in the Wine market in Lithuania reflect the demand for premium and specialized products. Wine importers and retailers are expanding their offerings to cater to the evolving preferences of consumers. There is a noticeable increase in the availability of wines from different countries, including traditional wine-producing regions such as France, Italy, and Spain, as well as emerging wine regions such as Chile, Australia, and South Africa. This trend is driven by the desire to offer a wide range of options to consumers and provide them with unique and exclusive wine experiences. Local special circumstances in Lithuania also contribute to the development of the Wine market. The country has a long tradition of winemaking, with several vineyards and wineries producing high-quality wines. This local production adds to the diversity of wines available in the market and supports the growth of the domestic wine industry. Furthermore, the increasing popularity of wine tourism in Lithuania has boosted the demand for local wines, as visitors are eager to explore and taste the unique offerings of the region. Underlying macroeconomic factors also play a role in the development of the Wine market in Lithuania. The country's improving economic conditions have led to higher disposable incomes and increased consumer spending power. This has allowed consumers to allocate more of their budget towards premium and specialized products, including wines. Additionally, Lithuania's integration into the European Union has facilitated trade and cooperation with other wine-producing countries, leading to a wider variety of wines being available in the market. Overall, the Wine market in Lithuania is experiencing growth and diversification, driven by changing customer preferences, emerging trends, favorable local circumstances, and underlying macroeconomic factors. The market is expected to continue expanding as consumers become more knowledgeable and adventurous in their wine choices, and as the domestic wine industry continues to thrive.

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.