Beer - Peru

The Beer market in Peru has experienced significant growth in recent years, driven by changing customer preferences, emerging trends in the market, local special circumstances, and underlying macroeconomic factors.

Customer preferences: Peruvian consumers have shown a growing preference for beer over other alcoholic beverages. This shift in consumer behavior can be attributed to several factors. Firstly, beer is seen as a more affordable and accessible option compared to spirits or wine. Additionally, the younger generation in Peru is increasingly adopting a more Westernized lifestyle, including the consumption of beer as a social and recreational activity. Furthermore, the rise of craft beer culture has also contributed to the growing popularity of beer among consumers, as they seek unique and flavorful options.

Trends in the market: One of the key trends in the Peruvian beer market is the increasing demand for craft beer. Craft breweries have gained popularity in Peru, offering consumers a wide range of unique and high-quality beer options. This trend is driven by the desire for more diverse and flavorful beer experiences, as well as the growing interest in supporting local businesses. Craft beer festivals and events have also become more prevalent, providing a platform for breweries to showcase their products and attract new customers. Another trend in the market is the rise of low-alcohol and non-alcoholic beers. Health-conscious consumers are seeking alternatives to traditional beer options, leading to the introduction of low-alcohol and non-alcoholic varieties. These beers cater to individuals who want to enjoy the taste of beer without the effects of alcohol. The demand for these products is also driven by the increasing number of people who are choosing to reduce their alcohol consumption or abstain from drinking altogether.

Local special circumstances: Peru's diverse culinary culture has had a significant impact on the beer market. The country is known for its rich and flavorful cuisine, which often pairs well with beer. This has created a strong beer-drinking culture in Peru, where beer is seen as an integral part of social gatherings and meals. Additionally, the country's warm climate and vibrant nightlife contribute to the popularity of beer as a refreshing and enjoyable beverage.

Underlying macroeconomic factors: Peru's growing economy and rising disposable incomes have played a crucial role in the development of the beer market. As more people have the means to afford beer, the demand for alcoholic beverages, including beer, has increased. Additionally, the country's expanding middle class and urbanization have led to a shift in consumer preferences, with more people opting for beer as a preferred alcoholic beverage. In conclusion, the Beer market in Peru has experienced significant growth due to changing customer preferences, emerging trends in the market, local special circumstances, and underlying macroeconomic factors. The increasing popularity of beer, particularly craft beer, reflects a shift in consumer behavior and a desire for more diverse and flavorful options. The rise of low-alcohol and non-alcoholic beers also caters to health-conscious consumers. Peru's culinary culture, warm climate, and vibrant nightlife contribute to the strong beer-drinking culture in the country. Lastly, Peru's growing economy and rising disposable incomes have created a favorable market environment for the beer industry.

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.