Wine - Moldova

Moldova, a small country located in Eastern Europe, has a rich history and tradition of winemaking. The Wine market in Moldova has been steadily developing in recent years, driven by customer preferences, local special circumstances, and underlying macroeconomic factors.

Customer preferences: Moldova has a long-standing reputation for producing high-quality wines, and this is reflected in the preferences of its customers. Moldovans have a strong appreciation for their local wines, with a preference for both red and white varieties. They value traditional winemaking methods and the unique flavors that come from the country's diverse terroir. Additionally, Moldovans are increasingly interested in exploring new and innovative wine styles, such as sparkling wines and natural wines.

Trends in the market: One of the key trends in the Moldovan wine market is the growing demand for organic and sustainable wines. Consumers are becoming more conscious of the environmental impact of their choices and are seeking out wines that are produced using organic farming practices and minimal intervention in the winemaking process. This trend is in line with global market trends, as consumers worldwide are increasingly interested in sustainable and eco-friendly products. Another trend in the Moldovan wine market is the increasing popularity of wine tourism. The country's picturesque vineyards and wineries are attracting both domestic and international tourists who are eager to learn about the winemaking process and taste the local wines. This trend has led to the development of wine routes and the establishment of wine-themed events and festivals, further boosting the growth of the wine industry in Moldova.

Local special circumstances: Moldova's unique geographical location and climate provide favorable conditions for grape cultivation. The country is situated at the crossroads of several major wine regions, including the Black Sea region and the Carpathian region, which influences the diversity and quality of Moldovan wines. The country's moderate continental climate, with warm summers and mild winters, allows for the cultivation of a wide variety of grape varietals. Furthermore, Moldova has a long history of winemaking, dating back thousands of years. This tradition has been passed down through generations, resulting in a wealth of knowledge and expertise in the production of wine. Many wineries in Moldova are family-owned and operated, with a focus on preserving traditional winemaking techniques and showcasing the unique characteristics of the local terroir.

Underlying macroeconomic factors: Moldova's wine industry has benefited from the country's efforts to expand its export market. The government has implemented various measures to promote Moldovan wines on the international stage, including participating in international wine fairs and exhibitions, as well as signing trade agreements with other countries. These initiatives have helped to increase the visibility and accessibility of Moldovan wines in global markets. Additionally, the wine industry in Moldova has received support from international organizations and investors, who recognize the potential of the country's wine sector. This has led to investments in modernizing winemaking facilities, improving production techniques, and promoting the export of Moldovan wines. These investments have contributed to the overall growth and development of the wine market in Moldova. In conclusion, the Wine market in Moldova is developing due to customer preferences for high-quality and traditional wines, the growing demand for organic and sustainable wines, the increasing popularity of wine tourism, the country's favorable geographical and climatic conditions, and the government's efforts to promote the export of Moldovan wines. With its rich winemaking tradition and commitment to quality, Moldova is well-positioned to continue thriving in the global 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.