Hard Seltzer - Slovakia

The Hard Seltzer market in Slovakia has been experiencing significant growth in recent years.

Customer preferences: One of the main reasons for the increasing popularity of Hard Seltzers in Slovakia is the growing demand for healthier and low-calorie alcoholic beverages. Consumers are becoming more health-conscious and are actively seeking alternatives to traditional high-calorie alcoholic drinks. Hard Seltzers, with their lower calorie content and refreshing flavors, are meeting this demand and attracting a wide range of consumers, including those who are looking to reduce their alcohol intake.

Trends in the market: The trend of wellness and mindful drinking has been gaining momentum in Slovakia, and Hard Seltzers fit perfectly into this lifestyle. These beverages are often marketed as being made with natural ingredients and have lower alcohol content compared to other alcoholic drinks. Additionally, the variety of flavors available in the market is also contributing to the popularity of Hard Seltzers. Slovakian consumers are increasingly looking for unique and refreshing flavors, and Hard Seltzers offer a wide range of options to choose from.

Local special circumstances: Slovakia has a vibrant and dynamic nightlife culture, with a growing number of bars and clubs catering to different consumer preferences. This has created a favorable environment for the introduction and growth of new alcoholic beverage categories like Hard Seltzers. The versatility of Hard Seltzers also makes them suitable for various occasions, including social gatherings and outdoor events, which are popular among Slovakian consumers.

Underlying macroeconomic factors: The improving economic conditions in Slovakia have also played a role in the growth of the Hard Seltzer market. As disposable income levels increase, consumers are more willing to spend on premium and innovative products. Hard Seltzers, with their unique flavors and trendy image, are seen as a premium alternative to traditional alcoholic beverages, and consumers are willing to pay a premium for them. In conclusion, the Hard Seltzer market in Slovakia is experiencing significant growth due to changing customer preferences towards healthier and low-calorie alcoholic beverages, the trend of wellness and mindful drinking, the vibrant nightlife culture in the country, and the improving economic conditions. The future of the market looks promising, with the potential for further expansion and innovation in the coming years.

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.