Alcoholic Drinks - Spain

The Alcoholic Drinks market in Spain has been experiencing significant growth in recent years.

Customer preferences: Spanish consumers have shown a growing preference for premium and craft alcoholic beverages. They are increasingly seeking unique and high-quality products that offer a distinct taste and experience. This trend is driven by a desire for more sophisticated and refined drinking options, as well as a growing interest in supporting local and independent producers.

Trends in the market: One of the key trends in the Spanish Alcoholic Drinks market is the rise of craft beer. Craft beer has gained popularity among consumers who are looking for a wider variety of flavors and styles. This trend is fueled by the increasing number of microbreweries and brewpubs in the country, which offer a range of innovative and artisanal beers. Additionally, there is a growing interest in natural and organic alcoholic beverages, as consumers become more health-conscious and environmentally aware. Another notable trend in the market is the increasing popularity of Spanish wines. Spain is known for its rich wine-making tradition and diverse wine regions. Spanish wines are gaining recognition both domestically and internationally for their quality and value. This trend is driven by a growing appreciation for the unique flavors and characteristics of Spanish wines, as well as the country's efforts to promote its wine industry through marketing campaigns and wine tourism initiatives.

Local special circumstances: Spain has a strong drinking culture, with alcohol consumption being an integral part of social gatherings and celebrations. This cultural aspect contributes to the demand for a wide range of alcoholic beverages, including traditional spirits such as brandy and sherry. Additionally, Spain's warm climate and vibrant nightlife scene make it a popular destination for tourists, further driving the demand for alcoholic drinks.

Underlying macroeconomic factors: The growth of the Alcoholic Drinks market in Spain can also be attributed to favorable macroeconomic factors. Spain has experienced steady economic growth in recent years, which has resulted in increased disposable income and consumer spending. This has allowed consumers to indulge in premium and higher-priced alcoholic beverages. Furthermore, the country's tourism industry has been thriving, attracting a large number of international visitors who contribute to the demand for alcoholic drinks. In conclusion, the Alcoholic Drinks market in Spain is evolving to meet the changing preferences of consumers. The market is witnessing a shift towards premium and craft beverages, driven by a desire for unique and high-quality products. The rise of craft beer and the growing popularity of Spanish wines are two key trends shaping the market. Spain's drinking culture, favorable macroeconomic factors, and vibrant tourism industry also contribute to the growth of the 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.