Cider, Perry & Rice Wine - Montenegro

Montenegro, a small country located in Southeastern Europe, is experiencing a growing trend in the Cider, Perry, and Rice Wine market. Customer preferences in Montenegro have shifted towards lighter and more refreshing alcoholic beverages, such as cider, perry, and rice wine. This can be attributed to a growing interest in healthier lifestyles and a desire for unique and exotic flavors. Consumers in Montenegro are increasingly looking for alternatives to traditional alcoholic beverages like beer and wine, and are drawn to the diverse range of options offered by the cider, perry, and rice wine market. One of the key trends in the market is the increasing availability and variety of cider, perry, and rice wine products in Montenegro. Domestic and international producers have recognized the growing demand for these beverages and have started to introduce new and innovative products to cater to the local market. This trend is further fueled by the rising popularity of craft and artisanal products, as consumers seek out unique and high-quality offerings. Another trend in the market is the growing popularity of cider, perry, and rice wine as a social and celebratory drink. These beverages are often associated with special occasions and gatherings, and their consumption has become a symbol of sophistication and elegance. As a result, the market for cider, perry, and rice wine in Montenegro is expanding beyond traditional drinking occasions and is being embraced by a wider range of consumers. One of the local special circumstances that contribute to the development of the cider, perry, and rice wine market in Montenegro is the country's growing tourism industry. Montenegro has become a popular destination for international tourists, who are eager to explore the country's rich cultural heritage and natural beauty. As a result, there is a growing demand for unique and authentic experiences, including the opportunity to sample local beverages. This presents a significant opportunity for cider, perry, and rice wine producers to showcase their products and attract new customers. Underlying macroeconomic factors also play a role in the development of the cider, perry, and rice wine market in Montenegro. The country's stable economic growth and increasing disposable income levels have contributed to a rise in consumer spending on premium and specialty products. This has created a favorable environment for the growth of the cider, perry, and rice wine market, as consumers are more willing to experiment with new and higher-priced beverages. In conclusion, the cider, perry, and rice wine market in Montenegro is experiencing growth due to changing customer preferences, increasing availability and variety of products, growing popularity as a social drink, local special circumstances such as tourism, and underlying macroeconomic factors such as stable economic growth and increasing disposable income levels. These factors have created a favorable environment for the development and expansion of the cider, perry, and rice wine market in Montenegro.

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.