Cider, Perry & Rice Wine - Serbia

The Cider, Perry & Rice Wine market in Serbia has been experiencing significant growth in recent years.

Customer preferences: One of the key factors driving the growth of the Cider, Perry & Rice Wine market in Serbia is the changing preferences of consumers. With an increasing number of people looking for alternative alcoholic beverages, there has been a growing demand for cider, perry, and rice wine. These beverages offer a unique taste and are often perceived as healthier options compared to traditional alcoholic drinks.

Trends in the market: One of the noticeable trends in the Cider, Perry & Rice Wine market in Serbia is the introduction of new flavors and varieties. Manufacturers are constantly innovating to cater to the evolving tastes of consumers. From traditional apple and pear ciders to more exotic flavors like cherry and raspberry, there is a wide range of options available in the market. This trend is driven by the desire to attract a broader consumer base and provide them with a diverse range of choices. Another trend in the market is the increasing popularity of craft and artisanal ciders, perries, and rice wines. Consumers are becoming more interested in locally produced and high-quality products. This trend is driven by the desire for unique and authentic experiences. Craft and artisanal producers often focus on using traditional production methods and locally sourced ingredients, which adds to the appeal of their products.

Local special circumstances: Serbia has a rich tradition of fruit cultivation, particularly apples and pears. This abundance of locally grown fruits provides a competitive advantage for the Cider, Perry & Rice Wine market in the country. Local producers have access to high-quality ingredients, which allows them to create flavorsome and authentic products. This local advantage contributes to the growth of the market and supports the development of craft and artisanal producers.

Underlying macroeconomic factors: The overall economic growth in Serbia has had a positive impact on the Cider, Perry & Rice Wine market. As the country's economy continues to develop, consumers have more disposable income to spend on premium and specialty products. This has created a favorable environment for the growth of the market, as consumers are willing to explore new and unique alcoholic beverages. In addition, the increasing tourism in Serbia has also contributed to the growth of the market. Tourists from around the world are seeking out local experiences and are interested in trying traditional Serbian products. This has created an opportunity for the Cider, Perry & Rice Wine market to expand its customer base and attract international consumers. Overall, the Cider, Perry & Rice Wine market in Serbia is experiencing growth due to changing customer preferences, the introduction of new flavors and varieties, the focus on craft and artisanal products, the abundance of locally grown fruits, and the underlying macroeconomic factors such as economic growth and increasing tourism.

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.