Cider, Perry & Rice Wine - Armenia

The Cider, Perry & Rice Wine market in Armenia has been experiencing significant growth in recent years. Customer preferences have shifted towards these types of beverages, leading to an increase in demand. This trend can be attributed to a variety of factors, including changing tastes and preferences, as well as an increasing interest in international cuisines and beverages.

Customer preferences: Armenian consumers have shown a growing interest in trying new and unique beverages, which has contributed to the rise in popularity of Cider, Perry & Rice Wine. These drinks offer a different taste profile compared to traditional alcoholic beverages, providing consumers with a refreshing and novel experience. Additionally, the increasing popularity of international cuisines in Armenia has also played a role in driving the demand for these beverages. Cider, Perry & Rice Wine are often paired with dishes from different cuisines, enhancing the overall dining experience for consumers.

Trends in the market: One of the key trends in the Cider, Perry & Rice Wine market in Armenia is the growing number of local producers entering the market. This has led to a wider variety of options for consumers, as well as increased competition among producers. As a result, there has been a focus on innovation and product differentiation, with producers introducing new flavors and packaging options to attract consumers. Additionally, there has been a shift towards more premium offerings in the market, with producers targeting consumers who are willing to pay a higher price for higher quality products.

Local special circumstances: Armenia has a rich tradition of winemaking, which has influenced the development of the Cider, Perry & Rice Wine market in the country. The expertise and knowledge in the winemaking industry have been leveraged by local producers to create high-quality products in the Cider, Perry & Rice Wine segment. Additionally, the country's favorable climate and fertile soils provide ideal conditions for growing the fruits and grains used in the production of these beverages, further contributing to the growth of the market.

Underlying macroeconomic factors: The overall economic growth in Armenia has also had a positive impact on the Cider, Perry & Rice Wine market. As disposable incomes have increased, consumers have been able to spend more on luxury and premium products, including these types of beverages. Furthermore, the country's growing tourism industry has also played a role in driving the demand for Cider, Perry & Rice Wine, as tourists are often interested in trying local and unique beverages during their travels. In conclusion, the Cider, Perry & Rice Wine market in Armenia is experiencing growth due to changing customer preferences, the introduction of new and innovative products, and favorable local circumstances. The market is expected to continue expanding as consumers seek out new and unique beverage options, and as local producers continue to innovate and differentiate their offerings.

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.