Wine - Turkmenistan

The Wine market in Turkmenistan has been experiencing significant growth in recent years. Customer preferences have shifted towards wine consumption, leading to an increase in demand for both domestic and imported wines. This trend can be attributed to several factors, including changing consumer preferences and increasing disposable incomes.

Customer preferences: Turkmenistan has traditionally been a country with a strong preference for spirits, such as vodka and brandy. However, there has been a noticeable shift towards wine consumption in recent years. This change in customer preferences can be attributed to a growing interest in wine culture and a desire for more diverse alcoholic beverage options. Wine is often seen as a sophisticated and elegant choice, and consumers are increasingly drawn to its unique flavors and aromas.

Trends in the market: The wine market in Turkmenistan has witnessed a steady increase in both domestic production and imports. Local wineries have been expanding their production capabilities and improving the quality of their wines to meet the growing demand. Additionally, there has been a surge in the importation of foreign wines, particularly from countries such as France, Italy, and Spain. This trend can be attributed to the desire for a wider variety of wine options and the perception of imported wines as being of higher quality.

Local special circumstances: Turkmenistan has a unique cultural context that influences the wine market. The country has a rich history of winemaking, with vineyards dating back centuries. This heritage has contributed to a sense of pride in local wines and an appreciation for their distinct characteristics. Additionally, Turkmenistan has a relatively small population, which creates a niche market for wine producers. Domestic wineries have the opportunity to cater to the specific preferences of local consumers, creating a sense of exclusivity and loyalty.

Underlying macroeconomic factors: The growth of the wine market in Turkmenistan can also be attributed to underlying macroeconomic factors. The country has experienced steady economic growth in recent years, leading to an increase in disposable incomes. As a result, consumers have more purchasing power and are able to afford higher-quality wines. Additionally, the government has implemented policies to promote the development of the wine industry, including providing financial incentives and support to domestic wineries. These factors have created a favorable environment for the growth of the wine market in Turkmenistan. In conclusion, the wine market in Turkmenistan is developing due to changing customer preferences, an increase in disposable incomes, and government support for the industry. The shift towards wine consumption can be attributed to a growing interest in wine culture and a desire for more diverse alcoholic beverage options. Both domestic production and imports have been on the rise, with local wineries expanding their production capabilities and foreign wines gaining popularity. The unique cultural context of Turkmenistan, with its rich winemaking heritage and small population, further contributes to the growth of the wine market. Overall, the wine market in Turkmenistan presents opportunities for both domestic and international wine producers to cater to the evolving preferences of consumers in the country.

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.