Alcoholic Drinks - Argentina

The Alcoholic Drinks market in Argentina has experienced significant growth in recent years, driven by changing customer preferences, emerging trends, and local special circumstances. Customer preferences in Argentina have shifted towards premium and craft alcoholic beverages. Consumers are becoming more discerning and are willing to pay a premium for high-quality, unique products. This trend is particularly evident in the wine industry, where Argentinian wines have gained international recognition for their exceptional quality. Additionally, there is a growing demand for craft beers and spirits, as consumers seek out locally-produced, artisanal options. Trends in the Alcoholic Drinks market in Argentina also reflect global and regional developments. Health and wellness trends have influenced consumer choices, leading to a rise in low-alcohol and alcohol-free options. This is especially true among younger demographics who are more health-conscious and mindful of their alcohol consumption. As a result, the market has seen an increase in the availability of low-alcohol wines, non-alcoholic beers, and mocktails. Another trend shaping the market is the growing popularity of e-commerce. Online platforms have made it easier for consumers to access a wide range of alcoholic beverages, including rare and imported products. This has opened up new opportunities for both local and international producers to reach a larger customer base. Additionally, the COVID-19 pandemic has accelerated the adoption of e-commerce, as consumers turned to online shopping for their alcoholic beverage needs during lockdowns and social distancing measures. Local special circumstances also play a role in the development of the Alcoholic Drinks market in Argentina. The country has a strong tradition of wine production, with regions such as Mendoza and Salta known for their vineyards and wineries. This has fueled the growth of the wine industry, both domestically and internationally. Argentina is also known for its traditional spirit, Fernet, which has a loyal following among locals. The popularity of Fernet has led to the emergence of a vibrant cocktail culture in Argentina, with bars and restaurants offering a wide variety of creative and unique cocktails. Underlying macroeconomic factors have also contributed to the development of the Alcoholic Drinks market in Argentina. The country has experienced periods of economic instability in recent years, which has led to fluctuations in consumer spending. During times of economic downturn, consumers may opt for more affordable alcoholic beverages or reduce their overall consumption. However, as the economy stabilizes, consumer confidence and purchasing power tend to increase, leading to a boost in the Alcoholic Drinks market. In conclusion, the Alcoholic Drinks market in Argentina is evolving to meet changing customer preferences and global trends. The shift towards premium and craft beverages, the rise of low-alcohol and alcohol-free options, the growth of e-commerce, and the influence of local special circumstances are all driving the market forward. Additionally, macroeconomic factors play a role in shaping the market's trajectory. Overall, the Alcoholic Drinks market in Argentina is poised for continued growth and innovation.

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.