Alcoholic Drinks - Laos

The Alcoholic Drinks market in Laos has been experiencing significant growth in recent years. This can be attributed to several factors, including changing customer preferences, emerging trends in the market, local special circumstances, and underlying macroeconomic factors. Customer preferences in Laos have been shifting towards a greater consumption of alcoholic beverages. This can be seen in the increasing demand for a variety of alcoholic drinks, including beer, spirits, and wine. Consumers in Laos are becoming more adventurous in their choices and are willing to try new and different types of alcoholic beverages. Additionally, there is a growing trend of socializing and celebrating with alcoholic drinks, which further drives the demand for these products. One of the key trends in the Alcoholic Drinks market in Laos is the rise of craft beer. Craft beer has gained popularity among consumers who are looking for unique and high-quality products. This trend is driven by a desire for more flavorful and diverse beer options. Craft breweries in Laos have been able to capitalize on this trend by offering a wide range of innovative and locally brewed beers. This has created a niche market for craft beer enthusiasts and has contributed to the overall growth of the Alcoholic Drinks market in Laos. Another trend in the market is the increasing popularity of imported alcoholic beverages. Consumers in Laos are becoming more exposed to international brands and are willing to pay a premium for these products. This trend is driven by a desire for higher quality and more prestigious alcoholic drinks. Imported spirits, wines, and beers are seen as a status symbol and are often associated with luxury and sophistication. As a result, the demand for imported alcoholic beverages has been steadily increasing in Laos. Local special circumstances also play a role in the development of the Alcoholic Drinks market in Laos. The country has a rich cultural heritage and a tradition of consuming alcoholic beverages during social gatherings and celebrations. This cultural aspect contributes to the overall demand for alcoholic drinks in Laos. Additionally, the tourism industry in Laos has been growing rapidly, attracting a large number of international visitors. These tourists often seek out local alcoholic beverages as part of their cultural experience, further driving the demand for these products. Underlying macroeconomic factors also contribute to the growth of the Alcoholic Drinks market in Laos. The country has been experiencing steady economic growth, which has led to an increase in disposable income. As a result, consumers have more purchasing power and are able to spend more on discretionary items such as alcoholic beverages. Furthermore, the government in Laos has implemented policies to promote the tourism industry, which has had a positive impact on the Alcoholic Drinks market. These policies include the development of infrastructure, the simplification of visa procedures, and the promotion of cultural tourism. Overall, the Alcoholic Drinks market in Laos is experiencing significant growth due to changing customer preferences, emerging trends in the market, local special circumstances, and underlying macroeconomic factors. As consumer demand continues to increase, it is expected that the market will continue to expand 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.