Wine - Northern Europe

The Wine market in Northern Europe has been experiencing significant growth in recent years. Customer preferences, trends in the market, local special circumstances, and underlying macroeconomic factors have all contributed to this development. Customer preferences in Northern Europe have played a key role in the growth of the Wine market. Consumers in this region have shown a growing interest in wine, both as a beverage for special occasions and as a part of their everyday dining experience. The demand for high-quality wines with unique flavors and aromas has increased, leading to a greater variety of wines being available in the market. Additionally, there has been a shift towards organic and sustainable wines, as consumers in Northern Europe are becoming more conscious of their environmental impact and are willing to pay a premium for products that align with their values. Trends in the market have also contributed to the growth of the Wine market in Northern Europe. One notable trend is the increasing popularity of wine tourism. Northern European countries, such as France, Italy, and Spain, are renowned for their wine regions, and tourists from all over the world visit these areas to experience the wine culture firsthand. This has not only boosted wine sales in these regions but has also led to the development of wine-related industries, such as vineyard tours, wine tastings, and wine-themed events. Local special circumstances have further fueled the growth of the Wine market in Northern Europe. The region's cool climate and fertile soil provide ideal conditions for grape cultivation, making it a prime location for wine production. This has led to the establishment of numerous vineyards and wineries in countries like France, Germany, and Austria. These local producers have been able to capitalize on the growing demand for wine by offering unique and high-quality products that cater to the preferences of Northern European consumers. Underlying macroeconomic factors have also played a role in the development of the Wine market in Northern Europe. The region's stable and prosperous economies have contributed to an increase in disposable income, allowing consumers to spend more on luxury goods like wine. Additionally, the growing popularity of wine as a status symbol and a symbol of sophistication has led to an increase in demand from affluent consumers. This has created a favorable market environment for wine producers and retailers in Northern Europe. In conclusion, the Wine market in Northern Europe has experienced significant growth due to customer preferences, trends in the market, local special circumstances, and underlying macroeconomic factors. As consumer interest in wine continues to rise and new trends emerge, the market is likely to continue its upward trajectory 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.