Alcoholic Drinks - Nepal

The Alcoholic Drinks market in Nepal is experiencing significant growth and development due to a variety of factors. Customer preferences, trends in the market, local special circumstances, and underlying macroeconomic factors all contribute to the positive trajectory of the market. Customer preferences in Nepal have shifted towards a greater demand for alcoholic beverages. With an increasing young population and a growing middle class, there is a greater disposable income available for leisure activities, including the consumption of alcoholic drinks. Additionally, changing social norms and attitudes towards alcohol have led to a greater acceptance and consumption of alcoholic beverages among the population. Trends in the market indicate a growing demand for premium and craft alcoholic beverages in Nepal. Consumers are becoming more discerning and are seeking out unique and high-quality products. This trend is reflected in the increasing number of craft breweries and distilleries in the country, offering a wide range of locally-produced alcoholic beverages. The popularity of these products is further boosted by the rise of social media and digital marketing, which allows for greater visibility and accessibility of niche alcoholic drinks. Local special circumstances also contribute to the development of the Alcoholic Drinks market in Nepal. The country has a rich tradition of brewing and distilling, with a long history of producing traditional alcoholic beverages such as raksi and chhang. This cultural heritage has provided a strong foundation for the growth of the market, as consumers are drawn to products that are rooted in local traditions and craftsmanship. Additionally, Nepal's tourism industry plays a significant role in the market, as tourists from around the world are eager to sample and experience the country's unique alcoholic beverages. Underlying macroeconomic factors further support the growth of the Alcoholic Drinks market in Nepal. The country has experienced steady economic growth in recent years, with a rising GDP and increasing levels of urbanization. This has led to a larger consumer base with greater purchasing power, driving the demand for alcoholic beverages. Furthermore, the government has implemented policies and regulations that support the growth of the industry, including the establishment of a separate regulatory body for the alcoholic drinks sector. In conclusion, the Alcoholic Drinks market in Nepal is developing rapidly due to customer preferences, market trends, local special circumstances, and underlying macroeconomic factors. With a growing demand for premium and craft beverages, a rich cultural heritage, and a supportive economic environment, the market is poised for continued growth 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.