Wine - Finland

The Wine market in Finland has been experiencing significant growth in recent years, driven by changing consumer preferences and a growing interest in wine consumption.

Customer preferences: Finland has traditionally been a beer-drinking country, but there has been a noticeable shift in consumer preferences towards wine. This can be attributed to several factors, including an increasing interest in wine culture and a growing awareness of the health benefits associated with moderate wine consumption. Finnish consumers are also becoming more adventurous in their wine choices, exploring different grape varieties and regions.

Trends in the market: One of the key trends in the Finnish wine market is the rising demand for organic and sustainable wines. Consumers are becoming more conscious about the environmental impact of their choices and are actively seeking out wines that are produced using organic farming methods and sustainable practices. This trend is in line with the global movement towards sustainability and can be seen as a reflection of the growing importance of environmental issues in consumer decision-making. Another trend in the market is the increasing popularity of wine tourism. Finnish consumers are not only interested in drinking wine but also in learning about its production process and visiting vineyards and wineries. This trend is driven by a desire for unique experiences and a deeper understanding of the wine-making process. Wine tourism provides an opportunity for consumers to engage with the product on a more personal level and can enhance their overall wine-drinking experience.

Local special circumstances: Finland's geographical location and climate present unique challenges for wine production. The country's cold climate limits the cultivation of traditional wine grapes, leading to a reliance on imported wines. However, this has also created an opportunity for Finnish winemakers to experiment with cold-hardy grape varieties and produce wines that are uniquely suited to the local climate. This has resulted in the emergence of a small but growing domestic wine industry, which caters to the preferences of local consumers.

Underlying macroeconomic factors: The overall economic stability in Finland has contributed to the growth of the wine market. Increasing disposable incomes and a strong purchasing power have allowed consumers to indulge in premium wine choices and explore a wider range of options. Additionally, the country's aging population and changing demographics have also played a role in the growth of the wine market, as older consumers tend to have a higher propensity for wine consumption. In conclusion, the Wine market in Finland is experiencing growth due to changing consumer preferences, including a shift towards wine consumption and a growing interest in organic and sustainable wines. The popularity of wine tourism and the emergence of a domestic wine industry further contribute to the market's development. The overall economic stability and changing demographics in Finland also play a role in the growth of the wine market.

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.