Wine - Ukraine

The Wine market in Ukraine has been experiencing significant growth in recent years, driven by changing customer preferences, trends in the market, local special circumstances, and underlying macroeconomic factors. Customer preferences in Ukraine have shifted towards wine consumption, with an increasing number of consumers choosing wine as their preferred alcoholic beverage. This can be attributed to several factors, including the growing popularity of wine as a sophisticated and healthier alternative to other alcoholic beverages. Additionally, the rising middle class in Ukraine has led to an increase in disposable income, allowing consumers to afford higher-quality wines. Trends in the market have also contributed to the growth of the Wine market in Ukraine. One notable trend is the increasing demand for imported wines, particularly from countries known for their wine production, such as France, Italy, and Spain. This can be attributed to the perception that imported wines are of higher quality and offer a wider variety of flavors and styles. Additionally, there has been a growing interest in organic and natural wines, as consumers become more conscious of the environmental and health impacts of their consumption choices. Local special circumstances in Ukraine have also played a role in the development of the Wine market. The country has a long history of winemaking, with vineyards dating back centuries. This heritage has created a sense of pride and appreciation for Ukrainian wines, leading to increased domestic consumption and support for local wineries. Furthermore, Ukraine's climate and soil conditions are well-suited for grape cultivation, allowing for the production of high-quality wines. Underlying macroeconomic factors have also contributed to the growth of the Wine market in Ukraine. The country's improving economic stability and increasing GDP per capita have resulted in higher consumer spending power, enabling more people to afford wine. Additionally, Ukraine's integration into the global market and participation in international trade agreements have facilitated the importation of wines from around the world, providing consumers with a wider selection of products. In conclusion, the Wine market in Ukraine is experiencing growth due to changing customer preferences, trends in the market, local special circumstances, and underlying macroeconomic factors. As consumers in Ukraine increasingly choose wine as their preferred alcoholic beverage, the demand for imported and domestic wines is on the rise. This presents opportunities for both local wineries and international wine producers to capitalize on the growing 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.