Alcoholic Drinks - Asia

The Alcoholic Drinks market in Asia is experiencing significant growth and development in recent years. Customer preferences, trends in the market, local special circumstances, and underlying macroeconomic factors all contribute to this upward trend. Customer preferences in Asia are shifting towards premium and craft alcoholic drinks. As disposable incomes rise and consumers become more sophisticated, there is a growing demand for high-quality and unique products. This trend is particularly evident in countries like China and Japan, where consumers are willing to pay a premium for imported and artisanal alcoholic beverages. Additionally, there is a rising interest in healthier alcoholic options, such as low-alcohol or alcohol-free drinks, as consumers become more health-conscious. Trends in the market also play a significant role in the development of the Alcoholic Drinks market in Asia. One notable trend is the increasing popularity of wine consumption in countries like China and South Korea. Wine is seen as a symbol of sophistication and is often associated with social status. This trend has led to a surge in wine imports and the establishment of local wineries in these countries. Another trend is the growing market for craft beer, especially in countries like Japan and Thailand. Craft beer offers consumers a wider variety of flavors and styles, appealing to those who seek unique and localized drinking experiences. Local special circumstances in each country contribute to the development of the Alcoholic Drinks market in Asia. For example, in India, the market is heavily regulated, with different states having varying degrees of alcohol availability and restrictions. This creates a complex and fragmented market, with different players focusing on specific regions. In contrast, countries like Singapore and Hong Kong have more liberal alcohol regulations, which attract international players and foster a vibrant drinking culture. Underlying macroeconomic factors also shape the Alcoholic Drinks market in Asia. Rapid urbanization and a growing middle class are driving the demand for alcoholic beverages. As more people move to cities and experience higher incomes, they have more disposable income to spend on leisure activities, including drinking. Additionally, the rise of e-commerce and online platforms has made it easier for consumers to access a wide range of alcoholic drinks, contributing to market growth. In conclusion, the Alcoholic Drinks market in Asia is developing due to changing customer preferences, emerging market trends, local special circumstances, and underlying macroeconomic factors. This presents opportunities for both local and international players to tap into the growing demand for premium and unique alcoholic beverages in the region.

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.