Alcoholic Drinks - Luxembourg

The Alcoholic Drinks market in Luxembourg has been experiencing significant growth in recent years, driven by changing customer preferences and local special circumstances. Customer preferences in Luxembourg have shifted towards premium and craft alcoholic beverages. Consumers are increasingly seeking high-quality products that offer unique flavors and experiences. This trend is reflected in the growing demand for craft beers, artisanal spirits, and premium wines. Additionally, there is a rising interest in organic and sustainable alcoholic drinks, as consumers become more conscious of their health and environmental impact. Trends in the market also indicate a growing preference for low and no-alcohol beverages. Health-conscious consumers are opting for lighter alternatives to traditional alcoholic drinks, such as non-alcoholic beers and mocktails. This trend is driven by a desire for a balanced lifestyle and a focus on wellness. Furthermore, the younger generation is increasingly abstaining from alcohol, leading to the rise of alcohol-free social gatherings and venues. Local special circumstances in Luxembourg contribute to the development of the Alcoholic Drinks market. The country has a strong tradition of winemaking, with a history dating back centuries. Luxembourg's winemakers have gained international recognition for their high-quality wines, attracting wine enthusiasts and tourists. Additionally, the country's favorable tax policies for alcohol production and consumption have encouraged the growth of the market. Underlying macroeconomic factors also play a role in the development of the Alcoholic Drinks market in Luxembourg. The country has a high GDP per capita, which allows consumers to have higher disposable incomes and spend more on premium alcoholic beverages. Furthermore, Luxembourg's tourism industry contributes to the demand for alcoholic drinks, as visitors seek to experience the local culture and taste the country's renowned wines and spirits. In conclusion, the Alcoholic Drinks market in Luxembourg is evolving to meet changing customer preferences, driven by a demand for premium and craft beverages, as well as low and no-alcohol alternatives. The country's local special circumstances, such as its winemaking tradition and favorable tax policies, contribute to the growth of the market. Additionally, underlying macroeconomic factors, such as high GDP per capita and a thriving tourism industry, further support the development of the Alcoholic Drinks market in Luxembourg.

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.