Hard Seltzer - Serbia

The Hard Seltzer market in Serbia has been experiencing significant growth in recent years.

Customer preferences: Serbian consumers have shown a growing interest in healthier beverage options, which has contributed to the rise in popularity of Hard Seltzers. These drinks are known for their low calorie and low sugar content, making them appealing to health-conscious individuals. Additionally, the refreshing and light flavors of Hard Seltzers have resonated well with Serbian consumers, who are increasingly seeking out beverages that provide a more enjoyable drinking experience.

Trends in the market: One of the key trends in the Hard Seltzer market in Serbia is the increasing number of local and international brands entering the market. This has led to a wider variety of options for consumers to choose from, catering to different taste preferences. Additionally, there has been a shift towards more innovative and unique flavors, as companies strive to differentiate themselves in a competitive market. This trend is likely to continue as companies seek to capture a larger share of the growing consumer demand for Hard Seltzers in Serbia. Another trend in the market is the growing popularity of ready-to-drink (RTD) beverages. Serbian consumers are increasingly looking for convenient and portable options, and RTD Hard Seltzers provide a convenient solution. The on-the-go nature of these drinks makes them appealing to busy individuals who want a refreshing and low-calorie beverage without the hassle of mixing their own drinks. This trend is expected to drive further growth in the Hard Seltzer market in Serbia.

Local special circumstances: Serbia's growing tourism industry has also had an impact on the Hard Seltzer market. As the country attracts more international visitors, there is a greater demand for familiar and trendy beverage options. Hard Seltzers, with their international appeal and refreshing taste, have become a popular choice among tourists. This has led to an increase in the availability and visibility of Hard Seltzers in bars, restaurants, and convenience stores across Serbia.

Underlying macroeconomic factors: The overall economic growth in Serbia has also played a role in the development of the Hard Seltzer market. As disposable incomes rise, consumers have more purchasing power to spend on premium and healthier beverage options. This has created a favorable environment for the growth of the Hard Seltzer market in Serbia. In conclusion, the Hard Seltzer market in Serbia is experiencing significant growth due to shifting customer preferences towards healthier and more enjoyable beverage options. The increasing number of brands entering the market, the popularity of RTD beverages, the impact of tourism, and the overall economic growth in the country are all contributing factors to this trend. As the market continues to evolve, it is expected that the demand for Hard Seltzers in Serbia will continue to grow.

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.