Hard Seltzer - Thailand

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

Customer preferences: Thai consumers are increasingly seeking healthier and low-calorie beverage options, which has contributed to the rising popularity of Hard Seltzers. With a growing focus on health and wellness, consumers are looking for alternatives to traditional alcoholic beverages that are high in sugar and calories. Hard Seltzers, with their lower calorie content and refreshing taste, have emerged as a preferred choice among health-conscious consumers in Thailand.

Trends in the market: One of the key trends in the Hard Seltzer market in Thailand is the introduction of local flavors and ingredients. Thai consumers have a strong affinity for local flavors and ingredients in their food and beverages. Hard Seltzer brands have capitalized on this trend by incorporating Thai fruits and herbs into their products. This localization strategy has resonated well with consumers, as it offers a unique and familiar taste experience. Another trend in the market is the increasing availability and variety of Hard Seltzer brands in Thailand. International brands have entered the market, bringing with them a wide range of flavors and options. This has resulted in greater consumer choice and increased competition among brands. Additionally, local breweries and distilleries have also started producing their own Hard Seltzers, further diversifying the market and catering to specific consumer preferences.

Local special circumstances: Thailand's warm climate and vibrant social scene make it an ideal market for Hard Seltzers. The refreshing and light nature of these beverages makes them particularly appealing in a country where people often seek out cool and refreshing drinks to combat the heat. Moreover, the popularity of outdoor activities and social gatherings in Thailand creates a demand for convenient and easy-to-drink alcoholic beverages, making Hard Seltzers a popular choice among consumers.

Underlying macroeconomic factors: Thailand's growing middle class and increasing disposable income have also contributed to the development of the Hard Seltzer market. As more consumers have the financial means to explore new and premium beverage options, the demand for Hard Seltzers has grown. Additionally, the rise of e-commerce and online platforms has made it easier for consumers to access and purchase Hard Seltzers, further driving market growth. In conclusion, the Hard Seltzer market in Thailand is experiencing growth due to changing customer preferences towards healthier and low-calorie beverages, the introduction of local flavors and ingredients, the increasing availability and variety of brands, as well as the country's warm climate and vibrant social scene. These factors, combined with Thailand's growing middle class and increasing disposable income, have created a favorable environment for the development and expansion of the Hard Seltzer market in the country.

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.