Analyst Opinion
The Beer market in Worldwide has been experiencing significant growth in recent years. With an increasing number of consumers seeking out new and unique flavors, as well as a growing interest in craft beer, the market has seen a surge in demand. Additionally, changing lifestyles and social trends have also contributed to the growth of the Beer market. Customer preferences: Trends in the market: Local special circ*mstances:
Underlying macroeconomic factors:
The Beer market in Worldwide is also influenced by underlying macroeconomic factors. Economic growth, disposable income levels, and consumer confidence all play a role in determining the demand for beer. In periods of economic prosperity, consumers are more likely to spend on discretionary items such as beer, leading to increased sales. On the other hand, during economic downturns, consumers may cut back on non-essential purchases, which can impact the demand for beer. Furthermore, demographic factors such as population growth and age distribution also impact the Beer market. Countries with a young and growing population tend to have a higher demand for beer, as young adults are more likely to consume alcohol. Conversely, countries with an aging population may see a decline in beer consumption as older adults may choose to reduce their alcohol intake. In conclusion, the Beer market in Worldwide is experiencing growth due to changing customer preferences, including a demand for craft beer and healthier options. Local special circ*mstances, such as cultural norms and regulatory environments, also shape the market. Additionally, underlying macroeconomic factors, such as economic growth and demographic trends, play a role in determining the demand for beer.Methodology
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.
