Alcoholic Drinks - Chile

The Alcoholic Drinks market in Chile has been experiencing significant growth in recent years.

Customer preferences: Chilean consumers have shown a growing preference for premium and craft alcoholic beverages. This shift in consumer preferences can be attributed to several factors. Firstly, there has been an increase in disposable income among the middle and upper classes in Chile, allowing consumers to spend more on high-quality products. Additionally, there has been a growing interest in supporting local businesses and products, leading to an increased demand for craft beverages. Chilean consumers are also becoming more health-conscious, leading to a rise in demand for low-alcohol and non-alcoholic alternatives.

Trends in the market: One of the key trends in the Alcoholic Drinks market in Chile is the increasing popularity of wine. Chile is known for its high-quality wine production, and both domestic and international consumers have been showing a growing interest in Chilean wines. This trend can be attributed to the favorable climate and terroir in Chile, which allows for the production of a wide variety of wines. In addition, the increasing popularity of wine tourism in Chile has also contributed to the growth of the wine market. Another trend in the market is the rise of craft beer. Craft beer has gained popularity worldwide, and Chile is no exception. The craft beer market in Chile has been growing rapidly, with a number of microbreweries and brewpubs opening up across the country. This trend can be attributed to the increasing demand for unique and flavorful beers among consumers. Craft beer appeals to consumers who are looking for a more artisanal and personalized drinking experience.

Local special circumstances: Chile has a strong tradition of Pisco production, a grape-based spirit that is popular in the country. Pisco is often consumed neat or used as a base for cocktails such as the Pisco Sour. The production and consumption of Pisco are deeply ingrained in Chilean culture, and it continues to be a significant part of the Alcoholic Drinks market in the country.

Underlying macroeconomic factors: The growth in the Alcoholic Drinks market in Chile can be attributed to several macroeconomic factors. Firstly, Chile has experienced steady economic growth in recent years, which has led to an increase in disposable income among consumers. This has allowed consumers to spend more on discretionary items such as alcoholic beverages. Additionally, Chile has a stable political and regulatory environment, which has attracted foreign investment in the Alcoholic Drinks industry. This has led to the introduction of new products and brands in the market, further driving its growth. In conclusion, the Alcoholic Drinks market in Chile is developing due to changing customer preferences, including a growing demand for premium and craft beverages. The market is also influenced by local special circumstances such as the tradition of Pisco production. The underlying macroeconomic factors of economic growth and a stable political environment have also contributed to the growth of the market.

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.