Spirits - Switzerland

The Spirits market in Switzerland has been experiencing steady growth in recent years, driven by changing customer preferences, emerging trends, and local special circumstances.

Customer preferences: Swiss consumers have shown a growing interest in premium and craft spirits, reflecting a shift towards higher quality and unique products. This trend is driven by a desire for authenticity and a willingness to explore new flavors and experiences. Consumers are increasingly seeking out spirits that are locally produced, using traditional methods and high-quality ingredients.

Trends in the market: One notable trend in the Swiss spirits market is the rise of artisanal distilleries. These small-scale producers are gaining popularity among consumers who appreciate the craftsmanship and attention to detail that goes into creating these spirits. Artisanal distilleries often focus on using locally sourced ingredients and traditional production methods, which resonates with the growing demand for authenticity and sustainability. Another trend in the market is the increasing popularity of flavored spirits. Swiss consumers are embracing a wider range of flavors, including fruit-infused spirits, botanical blends, and spiced varieties. This trend is driven by a desire for more unique and innovative drinking experiences, as well as a growing interest in mixology and cocktail culture.

Local special circumstances: Switzerland's reputation for quality and precision extends to its spirits industry. Swiss spirits are known for their exceptional craftsmanship, attention to detail, and use of high-quality ingredients. This reputation has helped to position Swiss spirits as premium products, appealing to both domestic and international consumers. Furthermore, Switzerland's strong tourism industry plays a significant role in the spirits market. Tourists visiting Switzerland often seek out local spirits as souvenirs or gifts, contributing to the overall demand for Swiss spirits.

Underlying macroeconomic factors: The Swiss economy has remained stable in recent years, with a high standard of living and disposable income. This economic stability has allowed consumers to prioritize quality and indulge in premium spirits. Additionally, the country's strong tradition of socializing and entertaining has created a culture that values the enjoyment of fine spirits, further driving demand in the market. In conclusion, the Spirits market in Switzerland is experiencing growth due to changing customer preferences, emerging trends, and local special circumstances. Consumers are increasingly seeking out premium and craft spirits, as well as flavored varieties, reflecting a desire for authenticity, innovation, and unique drinking experiences. Switzerland's reputation for quality and precision, along with its strong tourism industry, contribute to the overall success of the spirits market. The stable Swiss economy and cultural appreciation for fine spirits also play a significant role in driving demand.

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.