Cider, Perry & Rice Wine - Central America

The Cider, Perry & Rice Wine market in Central America is experiencing significant growth and development. Customer preferences in the region are shifting towards more diverse and unique alcoholic beverages, which has led to an increased demand for cider, perry, and rice wine. Consumers are looking for alternative options to traditional spirits and beers, and these products offer a refreshing and different taste experience. Additionally, the rising popularity of craft and artisanal products has also contributed to the growth of the market. Trends in the market show that the demand for cider, perry, and rice wine is particularly strong in certain countries in Central America. For example, in Costa Rica, there has been a surge in the consumption of cider, driven by the younger generation who are seeking new and exciting flavors. Similarly, in Panama, the market for perry has been growing steadily, with consumers embracing the unique taste and versatility of this beverage. In Guatemala, rice wine has gained popularity as a traditional drink that is now being produced on a larger scale to meet the increasing demand. Local special circumstances also play a role in the development of the market. Central America is known for its rich agricultural resources, and the region has a long history of producing fruits and grains that are used in the production of cider, perry, and rice wine. This gives local producers a competitive advantage, as they have access to high-quality ingredients that are essential for creating premium products. Additionally, the region's tropical climate provides ideal conditions for the cultivation of fruits and grains, further supporting the growth of the market. Underlying macroeconomic factors also contribute to the development of the Cider, Perry & Rice Wine market in Central America. The region has experienced steady economic growth in recent years, leading to an increase in disposable income and a growing middle class. As a result, consumers have more purchasing power and are willing to spend on premium and higher-priced products, including cider, perry, and rice wine. Furthermore, the region's tourism industry is booming, attracting a large number of international visitors who are interested in exploring the local food and beverage scene. This has created a demand for unique and authentic products, driving the growth of the market. In conclusion, the Cider, Perry & Rice Wine market in Central America is developing rapidly due to changing customer preferences, local special circumstances, and underlying macroeconomic factors. As consumers seek new and exciting beverage options, the market for these products is expected to continue growing in the coming years.

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.