Spirits - North Macedonia

  • North Macedonia
  • Revenue, at home (e.g., revenue generated in supermarkets and convenience stores) in the Spirits market amounts to US$49.1m in 2024.
  • Revenue, out-of-home (e.g., revenue generated in restaurants and bars) amounts to US$1,992.0k in 2024.
  • Revenue, combined amounts to US$51.1m in 2024.
  • The revenue, at home is expected to grow annually by -0.06% (CAGR 2024-2029).
  • In global comparison, most revenue, at home is generated in China (US$146,400m in 2024).
  • In relation to total population figures, the average revenue per capita, at home of US$23.56 are generated in 2024.
  • In the Spirits market, volume, at home is expected to amount to 3,221.0k L by 2024.
  • Volume, out-of-home is expected to amount to 94.2k L in 2024.
  • Volume, combined is expected to amount to 3,315.0k L in 2024.
  • The Spirits market is expected to show a volume growth, at home of -2.7% in 2025.
  • The average volume per person, at home in the Spirits market is expected to amount to 1.55L in 2024.

Key regions: United States, United Kingdom, Worldwide, United Kingdom, Australia

 
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Analyst Opinion

The Spirits market in North Macedonia has been experiencing significant growth in recent years.

Customer preferences:
North Macedonian consumers have shown a growing interest in premium and craft spirits. They are increasingly seeking out unique and high-quality products that offer a distinct taste and experience. This shift in consumer preferences can be attributed to several factors. Firstly, as the country's economy has improved, consumers have more disposable income to spend on luxury goods, including premium spirits. Additionally, there is a growing trend of consumers wanting to support local businesses and products, which has led to an increased demand for craft spirits produced in North Macedonia.

Trends in the market:
One of the key trends in the Spirits market in North Macedonia is the rise of flavored spirits. Flavored spirits, such as fruit-infused vodkas and botanical gins, have become increasingly popular among consumers. This trend can be attributed to the desire for new and exciting flavor experiences, as well as the influence of global cocktail culture. Flavored spirits offer consumers a wide variety of options for creating unique and innovative cocktails, which has contributed to their growing popularity. Another trend in the market is the increasing demand for premium spirits. North Macedonian consumers are willing to pay a premium for high-quality spirits that offer a superior taste and experience. This trend can be seen across various categories of spirits, including vodka, whiskey, and rum. Premium spirits are often associated with craftsmanship, tradition, and exclusivity, which appeals to consumers who are looking for a more sophisticated and refined drinking experience.

Local special circumstances:
North Macedonia has a rich tradition of producing spirits, particularly rakija, a fruit brandy that is considered the national drink. Rakija is deeply ingrained in the local culture and is often consumed during special occasions and celebrations. This strong cultural connection to spirits has created a favorable environment for the growth of the Spirits market in North Macedonia. Additionally, the country's geographical location, with its fertile soil and favorable climate, provides ideal conditions for the cultivation of fruits and herbs that are used in the production of spirits.

Underlying macroeconomic factors:
The growth of the Spirits market in North Macedonia can also be attributed to several underlying macroeconomic factors. The country has experienced steady economic growth in recent years, which has resulted in an increase in disposable income and consumer spending. This has allowed consumers to allocate more of their budget towards premium and craft spirits. Furthermore, the tourism industry in North Macedonia has been growing, with an increasing number of international visitors. This has created a demand for locally produced spirits, as tourists are often interested in experiencing the local culture and products. Overall, the combination of favorable consumer preferences, growing tourism, and a strong cultural connection to spirits has contributed to the development and expansion of the Spirits market in North Macedonia.

Methodology

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.

Overview

  • Revenue
  • Key Players
  • Volume
  • Price
  • Sales Channels
  • Global Comparison
  • Analyst Opinion
  • Methodology
  • Key Market Indicators
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