Alcoholic Drinks - Albania

The Alcoholic Drinks market in Albania has been experiencing significant growth in recent years. Customer preferences have shifted towards premium and craft beverages, driving the demand for high-quality and unique alcoholic drinks. This trend is in line with the global market, where consumers are increasingly seeking out premium and artisanal products.

Customer preferences: Albanian consumers have shown a growing interest in premium alcoholic drinks. This can be attributed to several factors, including increased disposable income, changing lifestyles, and a desire for higher quality products. Consumers are willing to spend more on alcoholic beverages that offer unique flavors, superior ingredients, and a more refined drinking experience. As a result, there has been a rise in the consumption of premium spirits, craft beers, and boutique wines.

Trends in the market: One of the key trends in the Albanian alcoholic drinks market is the growing popularity of craft beers. Craft breweries have emerged across the country, offering a wide range of unique and flavorful beers. This trend mirrors the global craft beer movement, which has gained traction in many countries. Craft beer appeals to consumers who are looking for variety, quality, and a more personalized drinking experience. Another trend in the market is the increasing demand for wine. Albania has a long history of winemaking, and the country's wines are gaining recognition both domestically and internationally. Consumers are becoming more knowledgeable about wine and are seeking out local varieties and boutique wineries. This trend is driven by a growing interest in wine culture and the desire to support local producers.

Local special circumstances: Albania has a rich cultural heritage when it comes to alcoholic drinks. Traditional Albanian spirits, such as raki and mastika, hold a special place in the hearts of consumers. These spirits are often consumed during social gatherings and celebrations, and their production is deeply rooted in local traditions. Despite the growing popularity of premium and craft beverages, traditional spirits continue to play an important role in the Albanian market.

Underlying macroeconomic factors: The growth of the Alcoholic Drinks market in Albania can also be attributed to favorable macroeconomic conditions. The country has experienced steady economic growth, which has resulted in increased disposable income and improved living standards. As a result, consumers have more purchasing power and are able to spend more on discretionary items such as alcoholic beverages. Additionally, the tourism industry in Albania has been booming in recent years, attracting a large number of international visitors who are interested in experiencing the local food and drink culture. In conclusion, the Alcoholic Drinks market in Albania is developing in response to changing customer preferences, global trends, and favorable macroeconomic conditions. Consumers are increasingly seeking out premium and craft beverages, driving the demand for high-quality and unique alcoholic drinks. Additionally, the country's rich cultural heritage and favorable tourism industry 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.