Cider, Perry & Rice Wine - Uruguay

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

Customer preferences: Uruguayan consumers have developed a taste for cider, perry, and rice wine, leading to an increase in demand for these products. The refreshing and fruity flavors of cider and perry, as well as the unique taste of rice wine, have gained popularity among the local population. Additionally, these beverages are often seen as a healthier alternative to other alcoholic drinks, which has further contributed to their growing popularity.

Trends in the market: One of the key trends in the Cider, Perry & Rice Wine market in Uruguay is the rise of craft and artisanal producers. These smaller-scale producers focus on creating high-quality and unique products, appealing to consumers who are looking for something different from mass-produced beverages. This trend has led to a diversification of the market, with a wide range of flavors and styles now available to consumers. Another trend in the market is the increasing availability of flavored ciders and perrys. Producers are constantly innovating and introducing new flavors to attract consumers. This trend has been driven by the demand for variety and novelty among consumers, who are always looking for new taste experiences.

Local special circumstances: Uruguay has a strong tradition of wine production, and this has influenced the development of the Cider, Perry & Rice Wine market in the country. The expertise and knowledge of winemakers have been applied to the production of these beverages, resulting in high-quality products that are well-regarded both domestically and internationally. Furthermore, Uruguay has a growing tourism industry, and cider, perry, and rice wine have become popular choices among tourists. The unique flavors and local production methods of these beverages offer visitors a taste of the country's culture and traditions. This has created a demand for these products in the tourism sector, further contributing to their growth in the market.

Underlying macroeconomic factors: The growing middle class in Uruguay has played a significant role in the development of the Cider, Perry & Rice Wine market. As disposable incomes have increased, consumers have been able to afford to spend more on alcoholic beverages, including cider, perry, and rice wine. This has created a larger consumer base and fueled the growth of the market. Additionally, the government of Uruguay has implemented policies to support the development of the alcoholic beverage industry. This includes measures to promote local production and reduce import barriers. These policies have created a favorable environment for the growth of the Cider, Perry & Rice Wine market, encouraging both domestic and international producers to invest in the country. In conclusion, the Cider, Perry & Rice Wine market in Uruguay is experiencing significant growth due to changing customer preferences, including a demand for craft and artisanal products and flavored beverages. The country's strong wine tradition and growing tourism industry have also contributed to the market's development. Furthermore, underlying macroeconomic factors, such as the growing middle class and government support, have created a favorable environment for the market's growth.

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.