Wine - Uzbekistan

The Wine market in Uzbekistan has been experiencing significant growth in recent years. Customer preferences have shifted towards wine consumption, and this trend is expected to continue in the coming years.

Customer preferences: Uzbekistan has traditionally been a country with a strong preference for spirits, such as vodka and brandy. However, in recent years, there has been a growing interest in wine among consumers. This can be attributed to a number of factors, including changing lifestyles, increased exposure to international trends, and a growing middle class with higher disposable incomes. Wine is seen as a more sophisticated and healthier alternative to spirits, and consumers are increasingly opting for wine as their beverage of choice.

Trends in the market: One of the key trends in the wine market in Uzbekistan is the increasing demand for imported wines. Local producers are unable to meet the growing demand for wine, especially high-quality wines. As a result, consumers are turning to imported wines, which offer a wider variety of options in terms of grape varieties, regions, and styles. This trend is expected to continue as consumers become more educated about wine and develop a taste for specific styles and brands. Another trend in the market is the rise of wine tourism. Uzbekistan is home to several wineries and vineyards, and these establishments are attracting both domestic and international tourists. Wine tourism offers visitors the opportunity to learn about the winemaking process, taste different wines, and enjoy the scenic beauty of vineyards. This trend is expected to contribute to the growth of the wine market in Uzbekistan, as it helps to promote local wines and increase awareness among consumers.

Local special circumstances: Uzbekistan has a long history of winemaking, dating back to ancient times. The country has a favorable climate and fertile soil, which are conducive to grape cultivation. However, the wine industry in Uzbekistan has faced challenges in the past, including outdated production techniques, lack of investment, and limited access to international markets. In recent years, the government has taken steps to support the development of the wine industry, including providing financial incentives to local producers and promoting Uzbek wines abroad. These efforts have helped to improve the quality of local wines and increase their visibility in the market.

Underlying macroeconomic factors: The growing wine market in Uzbekistan can also be attributed to underlying macroeconomic factors. The country has experienced steady economic growth in recent years, which has led to an increase in disposable incomes. As a result, consumers have more purchasing power and are able to afford higher-priced products, such as wine. In addition, the government has implemented policies to promote domestic production and reduce reliance on imports. This has created opportunities for local wine producers to expand their operations and meet the growing demand for wine in the market. In conclusion, the wine market in Uzbekistan is witnessing significant growth, driven by changing customer preferences, increasing demand for imported wines, and the rise of wine tourism. The government's support for the wine industry and favorable macroeconomic conditions have also contributed to the development of the market. As consumers become more educated about wine and the local industry continues to improve, the wine market in Uzbekistan is expected 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.