Cider, Perry & Rice Wine - Jamaica

The Cider, Perry & Rice Wine market in Jamaica has been experiencing significant growth in recent years. Customer preferences in the Jamaican market have shifted towards lighter and more refreshing alcoholic beverages, which has contributed to the increased demand for cider, perry, and rice wine. These beverages offer a unique and diverse flavor profile compared to traditional alcoholic drinks such as beer and spirits. Additionally, consumers are becoming more health-conscious and are seeking out low-alcohol options, which further drives the demand for these products. Trends in the market indicate that there is a growing interest in craft and artisanal cider, perry, and rice wine. Consumers are increasingly looking for unique and locally-produced beverages that offer a high-quality and authentic experience. This trend is in line with the global movement towards supporting local businesses and sustainability. As a result, small-scale producers in Jamaica have been able to capitalize on this trend by offering innovative and high-quality products that cater to the changing preferences of consumers. The local special circumstances in Jamaica also contribute to the development of the cider, perry, and rice wine market. The country has a rich agricultural heritage and is known for its abundance of tropical fruits. This provides a unique opportunity for local producers to experiment with different flavors and ingredients, resulting in a wide variety of cider, perry, and rice wine options. Additionally, the warm climate in Jamaica makes these beverages particularly appealing, as they offer a refreshing and thirst-quenching option for consumers. Underlying macroeconomic factors also play a role in the growth of the cider, perry, and rice wine market in Jamaica. The country has experienced steady economic growth in recent years, which has led to an increase in disposable income and consumer spending. As a result, consumers are more willing to explore and try new products, including cider, perry, and rice wine. Furthermore, the tourism industry in Jamaica has been thriving, attracting a diverse range of international visitors who are eager to experience the local culture and cuisine. This presents an opportunity for cider, perry, and rice wine producers to showcase their products to a global audience and expand their market reach. In conclusion, the cider, perry, and rice wine market in Jamaica is developing due to changing customer preferences, the emergence of craft and artisanal products, local special circumstances, and underlying macroeconomic factors. As the market continues to grow, it is expected that there will be further innovation and diversification in the range of products available, catering to the evolving tastes and preferences of consumers.

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.