Hard Seltzer - Dominican Republic

The Hard Seltzer market in Dominican Republic is experiencing significant growth and development.

Customer preferences: Customers in Dominican Republic are increasingly drawn to the refreshing and low-calorie nature of Hard Seltzers. The market has seen a shift in consumer preferences towards healthier beverage options, and Hard Seltzers fit perfectly into this trend. With their low sugar content and natural flavors, Hard Seltzers are appealing to health-conscious consumers who are looking for an alternative to traditional alcoholic beverages.

Trends in the market: One of the key trends in the Hard Seltzer market in Dominican Republic is the increasing variety of flavors and brands available. As the market grows, more companies are entering the space and offering a wide range of options to cater to different consumer tastes. From fruity flavors like mango and strawberry to more unique options like cucumber and mint, there is something for everyone in the Hard Seltzer market. This trend is driven by the demand for variety and the desire to try new and exciting flavors. Another trend in the market is the rise of local and craft Hard Seltzer brands. While international brands dominate the market, there is a growing interest in supporting local businesses and trying locally produced products. This trend is fueled by a sense of pride in local products and a desire to contribute to the local economy. Local brands are also able to cater to the specific tastes of Dominican consumers, offering flavors that are popular in the region.

Local special circumstances: The Dominican Republic has a strong tourism industry, and this has a significant impact on the Hard Seltzer market. Tourists from all over the world visit the country, and they bring with them their preferences and demands for certain products. The presence of international tourists has led to an increased demand for international brands of Hard Seltzers in the market. This has created an opportunity for both local and international brands to expand their presence and cater to a diverse customer base.

Underlying macroeconomic factors: The growing economy of Dominican Republic is contributing to the development of the Hard Seltzer market. As disposable incomes rise, consumers have more purchasing power and are willing to spend on premium and higher-priced products. This has created a favorable environment for the growth of the Hard Seltzer market, as consumers are willing to pay a premium for the perceived health benefits and unique flavors of Hard Seltzers. In conclusion, the Hard Seltzer market in Dominican Republic is experiencing growth and development due to changing customer preferences, trends in the market, local special circumstances, and underlying macroeconomic factors. With the increasing demand for healthier beverage options and a wide range of flavors to choose from, the Hard Seltzer market is expected to continue its upward trajectory in the country.

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.