Cider, Perry & Rice Wine - Eastern Asia

The Cider, Perry & Rice Wine market in Eastern Asia is experiencing significant growth due to changing customer preferences and local special circumstances.

Customer preferences: In recent years, there has been a growing interest in alternative alcoholic beverages in Eastern Asia. Consumers are becoming more adventurous in their choices and are seeking out unique and diverse flavors. This has led to an increased demand for Cider, Perry & Rice Wine, which offer a refreshing and distinct taste compared to traditional alcoholic beverages like beer and wine. Additionally, these beverages are often perceived as healthier options due to their lower alcohol content and use of natural ingredients.

Trends in the market: One of the key trends in the Cider, Perry & Rice Wine market in Eastern Asia is the rise of craft and artisanal brands. Consumers are increasingly looking for products that are locally produced and have a story behind them. Craft cider and rice wine producers are capitalizing on this trend by offering small batch, high-quality products that cater to the unique tastes and preferences of the local market. These products often feature traditional brewing methods and locally sourced ingredients, which further enhances their appeal. Another trend in the market is the increasing popularity of flavored varieties. While traditional Cider, Perry & Rice Wine have their own distinct flavors, manufacturers are now experimenting with different fruit and botanical infusions to create exciting new taste profiles. This has attracted a younger demographic who are looking for innovative and Instagram-worthy drinks. Flavored varieties also provide an opportunity for producers to differentiate themselves in a crowded market and attract new customers.

Local special circumstances: The Cider, Perry & Rice Wine market in Eastern Asia is also benefiting from local special circumstances. For example, in countries like Japan and South Korea, there is a strong cultural affinity for rice-based beverages. Rice wine, known as sake in Japan and makgeolli in South Korea, has a long history and is deeply ingrained in the local culture. This has created a ready market for rice wine and has helped drive its popularity in the region. Additionally, the rise of tourism in Eastern Asia has also contributed to the growth of the Cider, Perry & Rice Wine market. As more tourists visit the region, they are exposed to the local drinking culture and are eager to try traditional beverages. This has created a demand for Cider, Perry & Rice Wine as souvenirs and gifts, further fueling the market growth.

Underlying macroeconomic factors: The strong economic growth in Eastern Asia has also played a role in the development of the Cider, Perry & Rice Wine market. As disposable incomes rise, consumers have more purchasing power to spend on premium and niche products. This has created an opportunity for craft cider and rice wine producers to target a more affluent customer base who are willing to pay a premium for high-quality and unique beverages. Furthermore, the increasing urbanization and Westernization of Eastern Asian societies have led to a shift in consumer preferences. As people become more exposed to international trends and lifestyles, they are open to trying new and different alcoholic beverages. This has created a favorable environment for the growth of the Cider, Perry & Rice Wine market, as consumers seek out alternatives to traditional drinks. In conclusion, the Cider, Perry & Rice Wine market in Eastern Asia is experiencing growth due to changing customer preferences, local special circumstances, and underlying macroeconomic factors. Craft and artisanal brands, flavored varieties, cultural affinity for rice-based beverages, tourism, economic growth, and shifting consumer preferences are all contributing to the development of this 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.