Alcoholic Drinks - Norway

The Alcoholic Drinks market in Norway has been experiencing significant growth in recent years, driven by changing customer preferences, emerging trends in the market, and local special circumstances. Customer preferences in the Alcoholic Drinks market in Norway have shifted towards premium and craft products, with consumers seeking unique and high-quality beverages. This trend is in line with global market preferences, as consumers worldwide are increasingly interested in artisanal and locally-produced alcoholic drinks. In addition, there has been a growing demand for healthier options, such as low-alcohol or alcohol-free beverages, reflecting a broader global trend towards wellness and moderation. Trends in the Alcoholic Drinks market in Norway include the rise of microbreweries and craft distilleries, which have gained popularity among consumers looking for unique and flavorful beverages. This trend is supported by the growing interest in local and sustainable products, as well as the desire for authentic experiences. Furthermore, there has been an increase in the consumption of wine, particularly imported varieties, as Norwegians develop a taste for different wine regions and styles. This trend is influenced by the global wine culture and the availability of a wide range of international wines in the market. Local special circumstances in Norway, such as the high cost of alcohol due to heavy taxation and strict regulations, have also shaped the development of the Alcoholic Drinks market. The high cost of alcohol has led to a preference for quality over quantity, with consumers willing to pay more for premium products. Additionally, the strict regulations on alcohol sales and advertising have created a unique market environment, with limited availability and visibility of alcoholic beverages. This has encouraged the growth of niche markets and specialty stores, catering to specific customer segments and offering a curated selection of products. Underlying macroeconomic factors have also contributed to the development of the Alcoholic Drinks market in Norway. The country's strong economy and high disposable income levels have allowed consumers to indulge in premium and luxury products, including alcoholic beverages. Furthermore, the increasing popularity of tourism in Norway has led to a rise in the number of international visitors, who often seek out local food and drink experiences. This has created opportunities for the Alcoholic Drinks market to cater to both domestic and international customers, driving growth in the industry. Overall, the Alcoholic Drinks market in Norway is evolving in response to changing customer preferences, emerging trends, local special circumstances, and underlying macroeconomic factors. The market is characterized by a focus on premium and craft products, a growing interest in healthier options, the rise of microbreweries and craft distilleries, and the popularity of imported wines. These developments are influenced by global market trends and shaped by local factors, such as high taxation and strict regulations. As the market continues to evolve, it is likely to see further innovation and diversification, catering to the diverse preferences of Norwegian consumers.

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.