Wine - Romania

The Wine market in Romania has been experiencing significant growth in recent years, driven by changing customer preferences and local special circumstances.

Customer preferences: Romanian consumers have been increasingly interested in exploring different types of wines, including both domestic and international varieties. This shift in preferences can be attributed to a growing curiosity about wine and a desire to try new flavors. Additionally, there has been a rising trend of wine consumption among younger consumers, who are more open to experimenting with different types of wines and exploring new brands.

Trends in the market: One of the key trends in the Romanian wine market is the increasing demand for organic and biodynamic wines. Consumers are becoming more conscious about the environmental impact of their choices and are seeking out wines that are produced using sustainable and organic farming practices. This trend is also influenced by the global movement towards healthier and more natural food and beverage options. Another trend in the market is the growing popularity of wine tourism. Romania, with its rich history and picturesque vineyards, has become an attractive destination for wine enthusiasts. Wine tours and tastings have become a popular activity for both domestic and international tourists, contributing to the growth of the wine market.

Local special circumstances: Romania has a long and proud tradition of winemaking, dating back thousands of years. The country's unique climate and diverse terroir provide ideal conditions for growing a wide variety of grapes. This rich winemaking heritage and the quality of Romanian wines have gained recognition both domestically and internationally, further driving the demand for local wines.

Underlying macroeconomic factors: The Romanian economy has been experiencing steady growth in recent years, which has had a positive impact on consumer spending power. As disposable incomes increase, consumers are more willing to spend on luxury and premium products, including wines. This has created a favorable market environment for wine producers and retailers. Furthermore, Romania's accession to the European Union has opened up new export opportunities for local wine producers. The EU market provides a large customer base and access to distribution networks, allowing Romanian wines to reach a wider audience. This has contributed to the growth of the wine industry in the country. In conclusion, the Wine market in Romania is experiencing growth due to changing customer preferences, including a growing interest in different types of wines and a preference for organic and biodynamic options. The market is also influenced by local special circumstances, such as Romania's rich winemaking heritage and the popularity of wine tourism. Underlying macroeconomic factors, such as steady economic growth and EU membership, have further contributed to the development of the wine market in Romania.

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.