Beer - Hungary

The Beer market in Hungary has been experiencing steady growth in recent years. Customer preferences have shifted towards craft beers and premium brands, leading to an increase in the demand for high-quality and unique beer offerings. This trend can be attributed to the growing consumer interest in exploring different flavors and supporting local breweries. Additionally, the rising popularity of beer festivals and events has contributed to the increased demand for craft beers in the country.

Customer preferences: Hungarian consumers have shown a growing interest in craft beers and premium brands. They are increasingly seeking unique and flavorful beer options, which has led to a surge in the demand for craft breweries and specialty beers. This shift in customer preferences can be attributed to the desire for more diverse and exciting drinking experiences. As a result, breweries in Hungary have been focusing on developing innovative and high-quality beer products to cater to this demand.

Trends in the market: One of the key trends in the beer market in Hungary is the rise of craft breweries. These small-scale breweries are known for producing unique and artisanal beers, often using traditional brewing methods and locally sourced ingredients. Craft beer festivals and events have become popular in Hungary, providing an opportunity for these breweries to showcase their products and connect with beer enthusiasts. This trend has not only led to an increase in the variety of beers available in the market but has also contributed to the growth of the local brewing industry. Another trend in the Hungarian beer market is the growing popularity of premium and imported beer brands. Consumers are willing to pay a premium for higher-quality beers, and international brands have capitalized on this demand. The availability of a wide range of imported beers has expanded the choices for consumers, allowing them to explore different flavors and styles from around the world. This trend has also influenced local breweries to improve the quality of their offerings and compete with international brands.

Local special circumstances: Hungary has a rich brewing tradition, and beer has always been an integral part of Hungarian culture. The country has a long history of brewing, with several traditional beer styles that are still popular today. This cultural heritage has contributed to the strong beer-drinking culture in Hungary and the appreciation for quality beer. Additionally, the growing tourism industry in Hungary has played a role in the development of the beer market. The country attracts a significant number of tourists, who are eager to explore the local food and beverage scene. Craft breweries and beer festivals have become popular attractions for tourists, contributing to the growth of the beer market.

Underlying macroeconomic factors: The overall economic stability and increasing disposable income in Hungary have also contributed to the growth of the beer market. As consumers have more purchasing power, they are willing to spend on premium and specialty beer products. The growing middle class in Hungary has become more adventurous in their consumption choices, leading to an increased demand for craft beers and premium brands. Furthermore, the government's supportive policies and regulations have created a favorable environment for the beer industry in Hungary. The government has implemented measures to promote the growth of craft breweries and has supported beer festivals and events. These initiatives have helped to boost the visibility and popularity of the beer market in Hungary. In conclusion, the beer market in Hungary is experiencing growth due to shifting customer preferences towards craft beers and premium brands. The rise of craft breweries and the popularity of beer festivals have contributed to the increased demand for unique and high-quality beer offerings. The strong beer-drinking culture and the growing tourism industry in Hungary have also played a role in the development of the market. Additionally, the overall economic stability and supportive government policies have created a favorable environment for the beer industry.

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.