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Key regions: China, Singapore, Australia, Philippines, Worldwide
Hard Seltzer, a popular alcoholic beverage, has been gaining significant traction in the Spanish market. This refreshing drink, which is a combination of sparkling water, alcohol, and natural flavors, has witnessed a surge in demand among consumers in recent years.
Customer preferences: Spanish consumers have shown a growing preference for healthier and low-calorie alcoholic beverages. This shift in consumer behavior can be attributed to the increasing focus on health and wellness. Hard Seltzers, with their low calorie and sugar content, have emerged as an appealing choice for health-conscious individuals. Additionally, the availability of a wide range of flavors has further contributed to the popularity of Hard Seltzers among consumers in Spain.
Trends in the market: The Hard Seltzer market in Spain has experienced remarkable growth due to several key trends. Firstly, the rising popularity of ready-to-drink beverages has played a significant role in the market's expansion. Hard Seltzers offer convenience and portability, making them an ideal choice for on-the-go consumers. Moreover, the trend of premiumization has influenced the market, with consumers willing to pay a premium for high-quality and innovative Hard Seltzer products. Another trend shaping the Hard Seltzer market in Spain is the increasing number of product launches by both domestic and international brands. As the demand for Hard Seltzers continues to rise, companies are capitalizing on this opportunity by introducing new flavors and variants to cater to diverse consumer preferences. This constant innovation and product development have contributed to the market's dynamism and growth.
Local special circumstances: Spain's warm climate and vibrant social culture have also played a role in the success of Hard Seltzers in the country. With its refreshing and light nature, Hard Seltzer has become a popular choice for outdoor gatherings, beach parties, and other social occasions. The drink's versatility and ability to be enjoyed on its own or as a mixer have further boosted its appeal among Spanish consumers.
Underlying macroeconomic factors: The growth of the Hard Seltzer market in Spain can be attributed to several underlying macroeconomic factors. Firstly, the country's strong tourism industry has attracted a diverse range of international visitors who are familiar with Hard Seltzers from their home countries. This has created a demand for the beverage among both locals and tourists. Furthermore, the increasing disposable income among Spanish consumers has allowed them to explore new and premium alcoholic beverages. Hard Seltzers, with their premium positioning and innovative flavors, have resonated well with this consumer segment. The overall economic stability and favorable business environment in Spain have also encouraged the entry of new players and investments in the Hard Seltzer market. In conclusion, the Hard Seltzer market in Spain is witnessing significant growth due to changing customer preferences, key market trends, local special circumstances, and underlying macroeconomic factors. As consumers increasingly prioritize health and wellness, the demand for low-calorie and flavorful alcoholic beverages like Hard Seltzers is expected to continue its upward trajectory in the Spanish 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.
Lun - Ven, 9:00 - 18:00 h (EST)
Lun - Ven, 9:00 - 18:00 h (EST)
Lun - Ven, 9:00 - 17:00 h (SGT)
Lun - Ven, 10:00 - 18:00 h (JST)
Lun - Ven, 9:00 - 18:00 h (GMT)
Lun - Ven, 9:00 - 18:00 h (EST)