Wine - EAEU

The Wine market in EAEU is experiencing significant growth and development due to various factors. Customer preferences, trends in the market, local special circumstances, and underlying macroeconomic factors all contribute to the positive trajectory of the industry.

Customer preferences: Customers in the EAEU region have shown a growing interest in wine consumption. This can be attributed to several factors, including changing lifestyles and an increased focus on health and wellness. Wine is often perceived as a healthier alternative to other alcoholic beverages, and its moderate consumption is associated with various health benefits. Additionally, wine is considered a sophisticated and cultural beverage, appealing to consumers who value quality and craftsmanship.

Trends in the market: One of the key trends in the EAEU wine market is the increasing demand for premium and high-quality wines. Consumers are willing to pay a premium for wines that are produced using traditional methods and from specific regions known for their expertise in winemaking. This trend is driven by a desire for unique and authentic experiences, as well as a growing appreciation for the craftsmanship and artistry involved in winemaking. Another trend in the market is the rise of organic and sustainable wines. Consumers are becoming more conscious of the environmental impact of their consumption choices and are seeking out wines that are produced using organic and sustainable practices. This trend is in line with the global movement towards sustainability and reflects the growing importance of environmental considerations in consumer purchasing decisions.

Local special circumstances: The EAEU region is home to several countries with a rich history and tradition of winemaking. Countries like Armenia, Georgia, and Moldova have been producing wine for centuries and have developed unique winemaking techniques and grape varieties. These local special circumstances contribute to the diversity and quality of wines available in the EAEU market. Consumers in the region often have a strong affinity for locally produced wines and take pride in supporting their domestic winemakers.

Underlying macroeconomic factors: The economic growth and increasing disposable incomes in the EAEU region have also played a significant role in the development of the wine market. As consumers have more purchasing power, they are able to afford higher-quality wines and are willing to explore different varieties and regions. Additionally, the increasing tourism in the region has contributed to the growth of the wine market, as tourists often seek out local wines as part of their cultural experiences. In conclusion, the Wine market in EAEU is experiencing growth and development due to customer preferences, market trends, local special circumstances, and underlying macroeconomic factors. The increasing interest in wine consumption, particularly for premium and high-quality wines, reflects changing consumer preferences and a growing appreciation for the craftsmanship and cultural significance of wine. The presence of countries with a rich winemaking tradition and the economic growth in the region further contribute to the positive trajectory of the wine market in EAEU.

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.